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[Applause] Spk 1 Made in the USA - innovation, quality, outstanding service and the most productive and resilient workforce in the world - that's America's competitive edge. And I see it at company after company that I visit from coast to coast. Let's start with this motorcycle. It's not a raffle prize. [laughing] And actually I wanted to ride it in, but I couldn't get that cleared, mostly with my staff. It was built by Zero in Scotts Valley, California, its electric, its lightweight, high performance and very very fast. It produces 90% less emissions than conventional motorcycles. Zero has 62 employees at the California facility, a year ago 30, the year before that 8. How were they able to grow so fast? Through exports, today exports are about 30% of their sales and with the backing of EXIM Bank, they are now aggressively expanding to South Africa, Brazil, Mexico and Singapore. Going forward, Zero estimates that exports will grow to about 60% of sales and we are gonna help them get there and, like this motorcycle, get there fast. Our next company makes more airplanes than Boeing, Airbus, Embraer and Bombardier combined. You heard that right, more than all 4 of them combined and they sell these aircraft across the globe. Now it's good that Jim McNeary left, I don't want them to get too nervous, but I imagine there might be a couple of folks here still from Boeing. The difference is most of them happen to be this size [laughing] [Applause] Pacific Miniatures or PacMin, the other Pacman, is a California company that specializes in aviation and aerospace models. Customers are travel agencies, airports, aviation companies around the globe. And while their planes may be small, there is nothing small about their export sales. In fact, I visited the company back in October, it's a family owned business and they recently completed a $200,000 with the borders for Ethiopian and Saudi Airlines. And I am happy to say we financed both the models and the real planes. PacMin has 75 employees and has worked with EXIM bank since 2005 to successfully sell their products worldwide. Today about 35% of their sales are exports and they continue to look for more global sales opportunities. Now let's take a look at this solar module. This is built by Seneva in North Cross, Georgia. Seneva as you learned earlier from John Baumstark, as a case study how you take an innovative idea and build a successful business venture. It grew out of a department of energy funded program at Georgia Tech. Its become a successful operation that melds model robotics with good paying secure jobs. When I visited Seneva last month, I met Solomon, Daryl, Munn and David. And they built this module. And in talking with them I heard how excited they are to be part of an innovative and forward leading company like Seneva and with the assistance of EXIM bank Seneva's become a world leader in providing affordable, innovative and highly efficient solar technology to customers in Europe, Asia and Australia. Now this morning on this stage, we heard from John Baumstark. And I will tell you, what I saw in North Cross, what I learned from his team, I bet you they are going to double sales this year. John that's just my prediction, I don't want your share holders or venture capitalists to get too nervous I could go on and on highlighting American companies that are building innovative products and offering outstanding services. I love these companies. Spk 1 They are proving each and every day how you take good ideas and bring them to market. The fact is America's competitive edge is as strong as ever. I see it at companies across the country. I see it when I walk on the factory floor of Ford, John Deere and Caterpillar, I see it at midsize companies like Vermeer and service providers like Black and Veatch, I see it at small business owners when I go to global access events which I will talk to you about in a moment. When I see men and women running these companies, when I talk to the workers building these products I actually come away inspired - inspired by America's long term competitive and innovative spirit. And by the vital role they are playing in President Obama's plan to win the future. Let's hear for a moment directly from the President President Obama:We need to out-innovate, out-educate and out-build the rest of the world. We have to make America the best place on earth to do business. We need to take responsibility for our deficit and reform our government. That's how our people will prosper, that's how we will win the future [Applause] The President is absolutely right. Creating a climate where American exporters and American workers can thrive, grow and compete and win the future. That is our top priority at EXIM. And we measure our progress not just by how many exports we financed or the size of a transaction, we measure it by lives changed and communities transformed, by opportunities and jobs created for workers like Jim Bauer. Jim is a long time member of the United Steel Workers Union. He worked as a crane operator at a US steel plant outside of Philadelphia for about 25 years. The first plant, faced lay offs and ultimately closed. Jim was 48 not an easy time to be looking for a job. One day he answered an ad in his local newspaper for a position at a company called Gamesa, Spanish company that set up shop in Pennsylvania because of the skill base of the local workers and market access of the region. Jim got the job and for the last 5 years he has put his experience to work building wind turbines I had the opportunity to visit Jim's plant in February. Gamesa invested $34 million to transform a plant which stands 500 yards where Jim worked for 25 years into a modern wind turbine factory. The new plant is also a union shop and these workers are acquiring the skill needed to make the US a leader in renewable energy and become part of a new workforce. Some of the turbines that Jim and his coworkers are building will soon be part of the largest wind farm in Central America. Thanks to a 159 million dollar loan from EXIM bank. And by September this wind farm will be powering up street lights homes and businesses in Honduras. What's promising about this project is that in addition to being the environmental benefits, its actually keeper and traditional power sources in Honduras. So they are utilizing cleaner power and saving money. We look forward to working with Gamesa as they grow their business in this hemisphere. I am gonna give you one more example. Together these companies are selling 121 American made fire fighting equipment and vehicles to the Ghana National Fire service as part of a 41 million dollar loan from EXIM Bank. This guaranteed loan played a critical role in protecting and sustaining jobs of highly skilled American workers in very tough times and it also helped equip Ghana with the tools that have high quality reliable fire fighting equipment to protect citizens, homes and their way of life. That's what we strive for at EXIM. We want to create a export focused 21st century American economy that is driven by innovation, inspired by American entrepreneurship and fuelled by competitive financing. That's how we strengthen our economy and improve the lives of working families across America. And that's how emerging markets around the globe will obtain the goods and services to build and strengthen their economies. To do this we must capitalize on opportunities throughout the world. One of the most promising areas we have seen is global infrastructure development. The world is building and rebuilding itself every day particularly in emerging economies. And I want to be sure that American companies and American workers are doing the building. Global infrastructure spending is estimated to be $2.1 trillion a year for the next ten years. You heard that right $21 trillion worth of opportunities for American companies and American workers. Let's take a closer look at some of these opportunities and let's start in India. India alone plans to spend a trillion dollars between 2012 and 2017, double what they spent in last 5 years on infrastructure. As part of this they need to build one million square miles of paved roads and about 4600 miles of new metros and subways. Now let me put that number in perspective. 4600 miles is the distance between this ballroom and Honolulu, which considering the weather might be a nicer place for all of us who is there in this conference [laughing] And that rail system and those roads means billions and billions of dollars worth of capital goods from rails, to trains, to engineering services to paving equipment. But then in addition to infrastructure demands India is also growing its power needs. To day nearly 400 million people in India have never seen a light bulb. India is powering up and they are working to do it responsibly. India recently announced a far-reaching plan for twenty thousand megawatts of renewable energy by 2020. That is enough energy to power 10 million homes more than the city of New York where I am from. Tomorrow my good friend Anil Ambani, Chairman of Reliance will actually be talking more about these opportunities at the morning session. At EXIM we are working with companies, with US solar companies to make sure they have the competitive financing they need to be a part of these projects. One of those companies is Infinia, its based in Washington state. EXIM recently authorized a 30 million dollar loan to Roger Stamp. This project is using Infinia's new PowerDish technology, it was the first foreign sale they made and the largest sale they have ever made. And I spoke recently to J.D. Sitton who is the chairman of the company and this is what he had to say, and I liked every part of this, "Focussed, timely responsive." I want to stop for a moment and recognize the team of people at EXIM bank who helped make this happen. John Schuster, Craig O'Connor, Michael Sams, Ashok Pasricha, Steve Male and Timothy Kim - all of them worked to make this happen and happen fast. [Applause] And while I am at it, there are many many more people at EXIM Bank who do a spectacular job every day. They help us break records every single day. I want to thank them for their commitment, I would like them to stand and all of us just give them a round of applause [Applause] In many emerging economies, the need to build power capacity and infrastructure is critical to meeting the needs of the middle class. And it's not just India. In Brazil this issue is particularly acute. With the World Cup in 2014 and the Olympics 3 years later in 2016, boosting power production and building out infrastructure is critical priorities for that country. Brazil is going to invest more than $200 billion on everything from roads to public transportation to airports to sports stadiums. EXIM is going to support American companies and American workers exporting to those projects. That's why just few weeks ago, President Obama announced in Brazil a one billion dollar EXIM financing facility. The purpose of that is to finance the purchase of more American made goods and services. That session, if you want to know more about Brazil and what you can do there, is right after this lunch All around the world we are seeing similar opportunities for American companies, whether it is Turkey, South Africa, Vietnam, Indonesia. I hear the same thing from government leaders and business leaders. They want to do more business with American companies. The power of "Made in the USA" resonates around the world. They appreciate the transparency, the excellent quality of the goods and services. We make the things the world wants to buy. We are the number one manufacturer in the entire world. The US makes more goods and services than China, Germany and Japan. But when it comes to selling these products overseas, we fall to number 3 behind China, behind Germany. I think that's unacceptable. There is nothing third rate about American products and American business. And there should be nothing stopping us from selling more of those goods and services into the global market place. By ensuring that more American companies, big and small, go after this share of business we can build the type of export powerhouse that is the heart of President Obama's plan to win the future. At EXIM, our goal is to provide financing that make this a reality. And to do it we are working at making sure that our bank moves at the speed of business. As a long time business executive, I naturally focus on performance. And I am proud of the results we turned in to the American tax payer this year. For Fiscal year 2010, we have our second record breaking year. $24 and half billion in financing, up 70%. We supported $34 billion in export sales and almost a quarter of a million jobs at 3300 companies. And one of the things my new, and perhaps one might say surprising friend Tom Donahue likes to say at the US Chamber Of Commerce, Tom Donahue And the bank makes money. And the bank makes money [laughing] In fact we generated $3.4 billion, generated profits to the US tax payers in the last 5 years. Now some of you were not at the launch of Global Access when Tom said this. He didn't say it twice, he said it ten times - ten times. And according to David Shevord, he keeps saying it every other day here. We are building at that momentum in 2011, for the first 6 months of this year, and as I mentioned this morning first 6 months end at midnight and you still get your applications in we can still tally it [laughing] Our operators are standing by, $13 billion in the first six months supporting 110,000 US jobs, putting us on track for another record breaking year at EXIM Bank. [Applause] We are committed to being more nimble, faster and better equipped to meet your needs. That is government at the speed of business. We are streamlining our processes we are cutting transaction times, we are applying lean practices to get you answers and get them fast. All of us at EXIM are focused on getting to one thing - getting to yes and getting there quickly. That's why we are focused on better understanding our customers, making sure that you have the tools you need, in the time frame you need them to compete and to win in markets around the world. At EXIM we work with many large corporations. They are right here on the screen. These companies often have the resources and relationships throughout the world, what they need from us is financing that helps level the playing field. And I want to give you an example. GE was recently bidding to sell a 150 diesel electric locomotives worth $500 million to Pakistan. The locomotives are critical to that country, building its infrastructure so good and products and commodities get to market. GE officials were told by the Pakistani officials they prefer their locomotives, they are willing to pay a premium for their high quality and dependability. There was one sticking point. It was financing. The Chinese government offered below market financing that provided the Chinese manufacturer with an advantage GE could not make up for in quality, price or service. This put 700 jobs in Erie Pennsylvania at risk. To remedy this, we worked with our administration and put together a competitive financing package. And for the very first time we went to the OECD, the organization that governs global export financing to inform them that we were going to match China. This significant policy change meant an American company could compete solely on quality and value of its products and the service it provides. And they would not be undercut because of unfair terms. This transaction marks an important policy change in the United States government and how American companies can now better compete in the world. That's how we work with large companies [Applause] That's how we work with large companies and we are looking for more large companies to give us that opportunity. However, for small businesses the need is different. For small businesses the issue is access to capital and having people and resource to help them navigate the global market place. One of the things that President Obama emphasized, when he was launching the national export initiative was that small business needs to be front and center as we build an export economy and that's why we created global access for small business. This program is a model for how government and the private sector can come together to support American business, stimulate private sector jobs and strengthen a long term economy. What's stopping many small businesses from selling overseas? Worry, fear, fear of non-payment, fear of putting their entire business at risk, I hear it all the time. Small businesses owners say to me, "I know how to collect from New York, New Jersey, New Mexico, what if my customer in New Zealand doesn't pay?" Global access helps small business owners have peace of mind, the peace of mind and security to sell their products in the global market place by removing fear of non payment. But I want you focused on making the most competitive products and selling them like crazy. If you focus on that, we will take care of the risk when you sell overseas. I would like to tell people I am in the sleep business. Because of the global access, small business owners can sleep better at night. We take the fear of selling overseas so you can sleep better. Now our goals nonetheless are concrete and ambitious. By 2015 we are looking to approve a cumulative of $30 billion in small business loans, we plan to double our small business volume and we are gonna add 5000 new small businesses to our portfolio. The truth is we cannot grow our economy without growing exports and we cannot grow exports without growing small businesses and making them a part of it. To help more companies reach that goal we are going to be hosting 20 global access events around the country this year. We are doing that with the Chamber of Commerce, National Association of Manufacturers, and many of the financial partners who are with us here today. So we are gonna have a broad reach and the biggest impact or coordinating our work with the SPA, the department of commerce, United States Trade representative and other government agencies. But before we close, I just want to look at the big picture for one moment about total exports. We have come a long way since President Obama announced the National Export Initiative at this conference a year ago. In 2010 exports are up 16.7 percent putting us on track to double exports by 2015. We went from $1.6 trillion to $1.8 trillion in 2010, to more than $1.8 trillion. We are on our way to reaching the goal of $3.2 trillion by 2015. We are making good progress, but as you can see we still have a ways to go. So I want to close with just a few points and ride this off into the sun.. [laughing] [laughing] The power of exports goes well beyond the exchange of goods and services. It lays the foundation for commerce, security, prosperity. In today's global economy, what nations build reflect what they value - their goals, their hopes their aspirations. It reflects a vision for their country's future. Nations that build together and buy from each other are invested in ways that go far deeper than business transactions. When EXIM finances renewable energy in Honduras and India, when EXIM finances locomotives into Pakistan, when EXIM finances infrastructure development in Brazil, it sends a powerful message to the citizens of those countries. And it supports jobs and economic opportunities not only here but in those countries as well. Behind the Made in USA label are our nation's values and our ideals. It is a brand built by sweat and toil and pride of the American worker. Workers like Jim and Keith and David and Munn and many others I have met in my time in this job. And emboldened by the most innovative and creative companies in the world. That is why at EXIM, we are committed to working with more American businesses to get more of your products to more customers in more countries. For us government at the speed of business is not a marketing slogan, it's a operating principle that we strive for throughout our bank, so that we can be your competitive edge in the global market place. That is how we approach our work at EXIM and that is how together we will win the future. Thank you [Applause]