Study finds Export-Import Bank supports 10 parish businesses

A report by The Coalition for Employment through Exports found that 10 St. Mary Parish small- and medium-sized businesses indirectly benefit from the Export-Import Bank, according to a news release from U.S. Sen. Mary Landrieu, D-New Orleans.
On Monday, Landrieu released a list of nearly 150 businesses that have received direct support from the bank and the thousands of jobs connected to these businesses.
According to Landrieu’s news release, businesses in St. Mary Parish indirectly supported by the Export-Import Bank include Bollinger Marine Fabricators and OFS Inc., both in Amelia, Hanagriff’s Machine Shop in Centerville, SMI Companies in Franklin, and Afco Fuel & Lubricants, Sub-Surface Tools Inc., Taylor’s Industrial Specialty, Morgan City Rentals, Vida Paint & Supply Inc., and M.M. Plastics Manufacturing Inc., all in Morgan City.
“The Export-Import Bank has a clear and positive impact across the entire supply chain in Louisiana,” Landrieu said. In the Bayou region alone, Export-Import Bank indirectly supports more than 30 small businesses, she said.
“I’m pushing for a long-term reauthorization of the bank because it supports thousands of Louisiana jobs and hundreds of small businesses,” Landrieu said.
In an email, U.S. Sen. David Vitter, R-Metairie, said his No. 1 concern with the Export-Import Bank is that the federal government is loaning billions of dollars to foreign government-owned energy entities to produce abroad but is still cutting off the country’s abundant domestic resources. “If the bank continues, it needs major reforms,” Vitter said.
U.S. Rep. Charles Boustany, R-Lafayette, said in an email that more than 100 Louisiana small and midsize businesses, 44 of them in south Louisiana, depend on the Export-Import Bank for assistance to continue expanding their customer bases and creating more Louisiana jobs.
“I want Louisiana-produced goods for sale in every marketplace in every country in the world, because that means more jobs, higher wages, and a better quality of life here at home,” Boustany said. “That’s why I support the reauthorization of the Export-Import Bank.”
Last week, Landrieu hosted a conference call with four small businesses from across Louisiana to build support and call on Congress to reauthorize the Export-Import Bank, according to her news release.