MITC lands $350K for international trade expansion

The Maine International Trade Center will receive $350,000 in federal money to boost exports by the state’s small businesses.

The funding will support activities such as participating in foreign trade missions, market sales trips, international marketing campaigns, participating in export trade show exhibits, and attending training workshops.

The money comes from the U.S. Small Business Administration’s State Trade Expansion Program and is part of a $20 million tranche of grants awarded to 49 state and territory international trade agencies, a news release said.

Since 2020, over 60 small businesses in Maine have received financial assistance to support their international exporting, resulting in $6.9 million in actual sales and an additional $76.3 million expected in the next 12 to 18 months.