Washington aerospace businesses are meeting this week in Spokane for an annual statewide summit, where they are planning to talk about some of the industry’s most pressing issues, including reauthorization of the Export-Import Bank.
The bank is a federal agency that provides loan guarantees to foreign customers that want to buy products from the U.S. The charter of the Export-Import Bank expired in June because some conservative Republicans blocked reauthorization, arguing the bank amounts to corporate welfare.
According to news reports, Boeing has lost two satellite contracts and may lose a South African airplane order because those customers can not tap the Export-Import Bank for help with financing.
Kelly Maloney is the new executive director of the Aerospace Futures Alliance of Washington, the trade group that is putting on this week’s summit. She says one big topic will be what steps to take to get the Export-Import Bank revived.
"A lot of it is about communicating to our Congressmen and women about the importance of it and how it really does truly impact businesses in Washington State and across the nation," Maloney said.
There may be some action on the Export-Import Bank this month before House Speaker John Boehner leaves office. A group of Republicans who support renewing the bank is making an effort to bring a bill to the floor for a vote.
More than 200 Washington State businesses have used Export-Import Bank financing over the past five years, not just aerospace manufacturers, but also wine and coffee companies.
