SEMA granted $500,000 to support U.S. specialty equipment exporters
Oct. 7, 2011—The U.S. Department of Commerce on Thursday named SEMA as one of five recipients of the Market Development Cooperator Program (MDCP) for 2011.
SEMA will receive $500,000 in matching funds over the next three years to support U.S. manufacturers that export automotive specialty equipment products to international markets. The grant is intended to stimulate U.S. exports of specialty equipment products as part of the National Export Initiative, which aims to double U.S. exports by 2014 in support of several million U.S. jobs, according to SEMA.
"SEMA is pleased to partner with the Commerce Department to expand the association's initiatives bringing together U.S. manufacturers with distributors and retailers in the fastest growing markets in the world," said Chris Kersting, president and CEO of SEMA. "The fact that SEMA has been selected for a MDCP award from the U.S. Department of Commerce reinforces the value of our growing Business Development Conference program and provides financial support to members seeking to participate in this and other association export initiatives."
SEMA was selected from roughly 50 applicants based on the organization’s export success, performance measurement, partnership potential with the Commerce's International Trade Administration (ITA) and compatibility with ITA priorities, creativity, institutional capacity and program sustainability following the grant period, according to SEMA.