This week, the Indiana Economic Development Corporation (IEDC) launched the Indiana State Trade and Export Promotion (In-Step) program to develop and expand export opportunities throughout the state. The program will assist Indiana small businesses with identifying, marketing and selling Hoosier-made goods in international markets.
“To remain competitive in today’s rapidly-evolving economy, state leaders are committed to ensuring that Indiana’s businesses and its people are able to connect to global markets,” Indiana Secretary of Commerce Jim Schellinger said. “The In-Step program will open up new opportunities for small businesses to elevate their goods in the international marketplace, and in turn, position their business and our state for success on the global stage.”
In-Step, which will support company growth and job creation by diversifying small businesses’ customer bases, offers eligible companies reimbursements of costs associated with export-related activities like participating in international trade missions, foreign trade shows and export educational programs, and other export services provided by the U.S. Department of Commerce. Total reimbursements under In-Step cover up to 50 percent, or $12,500, of small businesses’ export expenses.
The program, which is launching with the support of a two-year grant from the U.S. Small Business Administration (SBA), will provide up to $660,000 in funding for small businesses. Applications will be available on a rolling basis until all funds are distributed or up to August 31, 2021.
Qualifying criteria is as follows:
• The business must be in operation for at least a year.
• The business must be new to exporting or market expansion.
• The business must be an Indiana Small Business Development Center (Indiana SBDC) client.
• The business must be in accordance with SBA size standards, which categorize small businesses based on measures like industry, number of employees and annual receipts.
For full program information, including a tool to see if your company qualifies for export fee assistance, click here.
