Supporting over 93,354 jobs, Arizona exports reached $21.1 billion in sales last year according to a report from the U.S. Trade Representative and the Department of Commerce. Within a ten-year period, the value of Arizona’s exports has increased 57 percent, growth of which is largely driven by small and mid-sized businesses classified with fewer than 500 employees.
As the Arizona Republic reported, “One of those small companies is JWB Manufacturing”, a producer of wire cutting and stripping blades. The Tempe-based company does a large portion of its business internationally, delivering products to 13 countries including Mexico, Canada, Australia, Morocco, Brazil and countries throughout Europe.
Jeff Barth, President and CEO of JWB Manufacturing advised exports are “very important” to his company’s success and “more profitable” than domestic sales.
Small businesses like JWB Manufacturing are yet another demonstration of smaller enterprises’ impact on the region’s economy and the importance of exports. With the high increase in exporting sales and over 60 percent of Arizona’s exports going to nations that are apart of the TPP Negotiations, the Obama Administration is urging support for the Trans-Pacific Partnership (TPP), a proposed trade deal that would reduce trade barriers among 11 nations.
This topic has attracted heavy debate however the exact terms of the deal have not yet been finalized.