ST. PAUL, MN — Today, State Representative Mary Sawatzky (DFL – Willmar) introduced legislation to increase funding to the Minnesota Trade Office, which works to help Minnesota businesses navigate foreign markets and trade regulations so they can increase their exports and put more Minnesotans to work. The bill (HF4) would increase the Trade Office’s yearly funding from $1.78 million to $2.5 million for fiscal year 2014 and 2015. Rep. Sawatzky is the chief author and will be working to move the bill through the legislative process.
“Helping our businesses grow jobs should be one of our top priorities in the legislative session,” said Rep. Sawatzky. “My bill seeks to expand the reach of the Trade Office and to open up markets for small and medium-sized Minnesota businesses to sell their products. This will help local businesses and farmers in our area and throughout Greater Minnesota. Growing our exports will play a major role in growing our economy and middle-class jobs.”
Even when the national economy was feeling the effects of the recession and growth was sluggish, exports from Minnesota companies were booming. From 2009 to 2010, total exports grew from $14.6 billion to $17.2 billion, a 17 percent increase.
Minnesota exports grew to $20.3 billion in 2011, which represents a 7.3 percent increase over 2010. Exports continued to grow in 2012. In each of the first three quarters of 2012, exports were higher than in 2011, including an all-time record of $5.4 billion in the second quarter. Final, total exports for 2012 are projected to exceed $21 billion.
Data from the Brookings Institute demonstrates how increasing exports leads to job growth, with each $100 million increase in exports leading to approximately 665 new jobs.
“Our homegrown businesses make great products that we should be selling around the world,” said Rep. Sawatzky. “Increasing our exports will help our businesses make more money and hire more Minnesotans. This is a proven strategy to help grow our economy and it’s an opportunity we shouldn’t miss.”
The previous legislature passed legislation to eliminate the Minnesota Trade Office. The bill was vetoed by Governor Dayton and funding was restored in the budget passed during the 2011 Special Session.