HILLSDALE––U.S. Rep. Josh Gottheimer gathered local business leaders for a roundtable on the Export-Import Bank July 31 with that organization’s former chairman and president, Fred Hochberg.
Hosted by Hillsdale-based Fornazor International, Inc., the group shared Export-Import Bank success stories and discussed ways that small- and medium-sized New Jersey manufacturers can leverage the opportunities afforded by the bank to expand their businesses.
In New Jersey, this program has supported more than $4 billion in exports, 25,811 jobs, and 219 companies “without costing the Treasury a single nickel,” Gottheimer told the leaders. Gottheimer (NJ-5) said he views Ex-Im as a great return on investment for the district, state and country.
“The Export-Import Bank provides a tremendous return on investment for New Jersey, helping our local businesses and economy grow while actually bringing in dollars to the national treasury. It’s a win, win, win,” he said.
He added that “we saw this first-hand today: Fornazor is a New Jersey company that started with four employees and now has hundreds thanks to the help from the Export-Import Bank. I was happy to help local businesses learn about the Bank directly from the bank’s former chairman, Fred Hochberg, so they can best leverage these opportunities to boost our economy, with more jobs and more exports.”
Hochberg said following the meeting that participants had a productive discussion about how best to leverage Export-Import Bank resources to grow their businesses and create jobs in the Garden State.
“I appreciate Congressman Gottheimer’s invitation and his support for all EXIM can do for exporters, workers and entrepreneurs in New Jersey and across the country. We share a desire to see a strong, effective EXIM continue to play an important role keeping American businesses competitive in the global economy,” he said.
The following business leaders attended the roundtable:
- John Fornazor, CEO, Fornazor International Inc.;
- Lynda Kraar, president, Lynda Kraar & Associates;
- Matt Feiner, president and CEO, SG Companies;
- Aron Levy, CEO and CTO, Technology Dynamic. Inc./The All Power;
- Matt Ziccardi, marketing manager, Worldwide Supply, LLC;
- Scott Bergaft, CEO, Lamson Airtubes, LLC;
- David Weiss, president, DataProbe Inc.;
- Mitch Palin, president and CEO, Minuteman Press International, Inc.
- Diane Walsh, executive vice president, Commerce and Industry Association of NJ;
- Chuck Diorio, general manager, American Roll on Roll off Carrier;
- Judy Fleischer, NJ Manufacturing Extension Program;
- Jason Some, vice president, Some’s World-Wide Uniforms; and
- Kevin Sinnott, president, Fornazor International Inc.
The Export-Import Bank is a critical resource to businesses in New Jersey, supporting $827 million in exports in the Fifth Congressional District alone. The program’s success, Hochberg said, is highlighted in its 0.26 percent default rate on loans, $3.9 billion in funds returned to taxpayers since 2009 and the 1.4 million private sector jobs it has supported.