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## Idaho Commerce Receives $233,000 State Trade Expansion Program (STEP) Grant

The Idaho Commerce has announced that the state will be the recipient of a State Trade Expansion Program (STEP) grant totaling $233,000. This grant is aimed at supporting the growth of small business exporters across Idaho. The funding will be allocated to projects taking place between September 30, 2023, and September 29, 2024. It is worth noting that the STEP program is partly funded through a grant with the United States Small Business Administration (SBA) and is administered by Idaho Commerce.

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## Impact of STEP Funding

Tina Salisbury, the interim international trade manager and STEP grant project director at Idaho Commerce, highlighted that the state has been a recipient of STEP funding since 2011, with a total of $4.09 million awarded. This funding has benefited 573 qualifying companies in Idaho, supporting 779 projects and international marketing campaigns. This year, 20 eligible small businesses are expected to receive financial support through the program. Some notable beneficiaries include ATC Manufacturing, HMI Hamilton Manufacturing, Genesis Arms, Snowbound Solutions, Wild Rye, Aviation Specialties Unlimited, and others.

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## Significance of STEP Program for Idaho’s Economy

Salisbury emphasized that the STEP program plays a crucial role in bolstering Idaho’s economy by increasing the number of small businesses engaged in exporting, enhancing the value of exports, and facilitating exploration of significant trade opportunities. The funds injected into the program are pivotal for Idaho’s future economic prospects.

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## Testimonials and Business Impact

Businesses such as Air Vise and Workholding and AeroLEDs have reported tangible growth and positive outcomes resulting from their participation in the STEP program. These success stories underscore the impactful support that STEP funding provides to small businesses, which may have otherwise faced barriers to international expansion.

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## Future Opportunities and Application Details

While the application window for small business applicants to apply for STEP funding is currently closed, it is set to reopen in August 2024. Businesses interested in exploring the benefits of the STEP program can visit the Idaho Commerce website for additional information.

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