Hochberg’s Continued Outstanding Ex-Im Bank Leadership Offers Manufacturers Certainty in Uncertain Times

National Association of Manufacturers (NAM) President and CEO Jay Timmons issued this statement regarding President Obama’s announcement that Fred Hochberg has been nominated for a second term to serve as chairman and president of the U.S. Export-Import (Ex-Im) Bank:

“Fred has been a strong and effective leader for the Ex-Im Bank during a time of unprecedented growth and demand for export financing. He recognizes the important role manufacturing plays in our economy and future. Last year, the Bank provided more than $35 billion in financing, supporting more than 255,000 American jobs.

The Ex-Im Bank is a vital tool for the export efforts of small and medium-sized manufacturers. As part of his strategy to increase the Bank’s outreach and responsiveness to manufacturers, Fred worked to improve financing opportunities to small manufacturers, enabling them to reach markets that were once unattainable and create more jobs. In 2012, 85 percent of the 3,400 companies that worked with the Bank were small businesses. Manufacturers are pleased that the President has recognized the outstanding work of Fred as head of the Bank and we welcome the opportunity to continue working with him and the Ex-Im Bank to grow our exports, support jobs and increase America’s global competitiveness.”