$900G to boost NY exports to Asia

More than 300 small businesses across New York will get help selling to China and South Korea in the next year because of a federal grant.

New York recently won about $900,000 from the federal Small Business Administration to boost exports. The state will contribute $481,000 more, officials said Thursday.

The federal grant is one of the largest awarded under the State Trade and Export Promotion initiative, which will allocate $30 million in each of the next three years.

The money is part of President Barack Obama's drive to double U.S. exports within five years.

Ed Kowalewski, international trade director at Empire State Development Corp., said New York would underwrite 12 missions to China and four to South Korea over the next 12 months.

The trips will include participation in trade shows and one-on-one meetings with potential customers.

The state program is limited to companies with 500 or fewer employees. They must be in these industries: wine and foods, music, fashion design, medical and biotechnology, jewelry, clean technology, mining and engineering.

Participating companies must contribute $2,000 per trip.

The program comes as Congress considers a bill co-sponsored by Sen. Charles Schumer (D-N.Y.) to aid U.S. manufacturers harmed by Beijing's alleged manipulation of the Chinese currency, the yuan.

Kowalewski still is optimistic state exports will increase by $250 million a year. Those interested should email step@empire.state.ny.us.

Long Island companies exported $268 million in goods and services to China in 2009.

Local experts hailed the program Thursday but advised businesses to prepare. "Knowledge about China on Long Island among business people is very low," said Savio Chan, chief executive of U.S.-China Partners Inc., a trade consultant with an office in Melville.