Press Release
Tuesday, April 28, 2009
OPIC NAMES CALIFORNIA'S CENTERS FOR INTERNATIONAL TRADE DEVELOPMENT TO PARTNERS PROGRAM
SAN FRANCISCO, California – Dr. Lawrence Spinelli, Acting President of the Overseas Private Investment Corporation (OPIC), announced today that California’s Centers for International Trade Development (CITD), of the California Community Colleges Economic and Workforce Development Program, a valuable trade information resource for more than 2500 California businesses looking to expand into international markets, is the newest member of OPIC’s Partners Program.
Through the Partners Program, OPIC works with selected trade, business and foreign policy organizations nationwide to increase public knowledge of OPIC’s work. By utilizing the resources of geographically-diverse organizations with different memberships, information about OPIC is disseminated to a larger audience.
The CITD provides value-added assistance to member companies aiming to expand their operations internationally. It offers free or low-cost services to enable them to succeed as an exporter, importer or global marketing organization through individualized assistance; export and import education programs; a Help Desk to field questions about international trade and help solve international business transaction challenges; and an award-winning international trade information database.
“OPIC is extremely pleased to add California’s Centers for International Trade Development to our Partners Program,” Dr. Spinelli said. “The CITD is the premier informational resource for California companies looking to expand into international markets, and will likewise serve as an ideal point of contact for companies who could benefit from OPIC’s products and services. We look forward to establishing a mutually beneficial relationship with CITD.”
Jeff Williamson, Statewide Director for the CITD, said, “The California Community Colleges Centers for International Trade Development are pleased to join efforts with OPIC to reach out to small and medium-sized companies throughout California to pursue business opportunities in emerging markets.
“Innovation is synonymous with California for a number of industries including IT, Environmental Technology and renewable energies, and aerospace to name a few,” Williamson said. “These innovative ideas and products have the potential to produce tremendous value, but they must be brought to market in order to do so. OPIC provides the project and risk mitigation products and services that help make this possible.”
OPIC’s Partners Program was established in 2003. Its members, including CITD, comprise the Bankers Association for Finance and Trade; Business Council for International Understanding; Erie County Industrial Development Agency; Export Finance Assistance Center of Washington; Illinois Global Partnership; International Economic Development Council; International Trade Association of Greater Chicago; National Association of Women’s Business Owners; Nevada World Trade Council; Small Business Exporter’s Association; Southern Center for International Studies; and the U.S. Chamber of Commerce. For more information about the program, call 202-336-8641 or send an email to partners@opic.gov.
OPIC was established as an agency of the U.S. government in 1971. It helps U.S. businesses invest overseas, fosters economic development in new and emerging markets, complements the private sector in managing risks associated with foreign direct investment, and supports U.S. foreign policy. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers.
OPIC’s political risk insurance and financing help U.S. businesses of all sizes invest in more than 150 emerging markets and developing nations worldwide. Over the agency's 38-year history, OPIC has supported $188 billion worth of investments that have helped developing countries to generate over 830,000 host-country jobs. OPIC projects have also generated $72 billion in U.S. exports and supported more than 273,000 American jobs.