MEDIA ALERT
Contact: Cody Allred
Idaho Commerce
208.334.2470
cody.allred@commerce.idaho.gov
Idaho to Receive State Trade Expansion Program (STEP) Grant Funds
BOISE, Idaho (October 31, 2022) — The State of Idaho received a State Trade Expansion Program (STEP) Grant of $319,000 to support the growth of Idaho small business exporters. The grant will fund projects occurring between September 30, 2022, through September 29, 2023.
The STEP program is funded in part through a grant from the U.S. Small Business Administration (SBA) and is administered by the Idaho Department of Commerce. The goals of STEP are to increase the number of small businesses that export, increase the value of exports and increase the number of small businesses exploring significant new trade opportunities.
Program funds can be used to assist small businesses in internationalizing their websites, joining international trade show opportunities and more.
“The STEP grant is important for Idaho businesses to market their products internationally,” Idaho Commerce Director Tom Kealey said. “Our Commerce International team looks forward to awarding and administering STEP grants for another successful year.”
Recipients of STEP awards over the last five program years reported a strong return on federal taxpayer investment, generating an average of $66 in U.S. small business export sales for every $1 awarded. During Idaho’s most successful year with the program, companies reported successful returns of over 220:1.
Companies have already begun receiving grants for this funding award with $140,000 awarded earlier this month to 19 eligible Idaho small businesses in industry sectors ranging from manufacturing and agriculture to aerospace.
Learn more about the STEP Grant here.
View past grant recipients here.
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About Idaho Commerce
As the lead economic development agency for the State of Idaho, the mission of Idaho Commerce is to foster a business-friendly environment to aid in quality job creation, support existing companies, strengthen communities, promote innovation and market Idaho domestically and internationally. Learn more at commerce.idaho.gov.