Cole: Export – Import Bank Works
Cole: Ex-Im Bank benefits American economy
By: Tom Cole
America was built by the hands of innovators and entrepreneurs, and it remains supported by likeminded individuals who desire for America to remain great. Our land is still filled with an abundance of untapped resources and human intellect that, when allowed to flourish, only strengthens our presence and standing in the world. Even in tough economic times, the American brand is in high demand, and our public policy should seek to keep it there.
Especially as we navigate the waters of a still-struggling economy, the effects of potential solutions upon job creators and providers should be carefully considered. Whether in the short term or long term, any solutions should obviously help rather than hurt hardworking American business owners, workers and innovators.
Our country’s ability to prosper depends heavily upon the success of businesses, particularly small businesses. According to the U.S. Small Business Administration, an estimated two out of three new jobs in the economy are created by small businesses. Today, that includes nearly 60 million employees working for around 27 million small businesses nationwide.
Recognizing the strong contributions offered by small businesses to our economic recovery doesn’t require one to travel far, especially in Oklahoma. Our state is home to a variety of small businesses that contribute positively to economic recovery. According to the U.S. Department of Commerce, Oklahoma in 2010 had 332,998 small businesses, representing a variety of industries and reaching a variety of markets. Some of Oklahoma’s businesses even reach an international clientele that requires their ability to export.