Lexington, KY – Companies looking to expand their exporting abilities can now apply for grants through the Bluegrass Economic Advancement Movement (BEAM) thanks to a $200,000 contribution from JPMorgan Chase.
Companies that have two or more employees, have been in business for more than a year and have $40 million or less in revenue – or up to $80 million in revenue as long as 10 percent or less is from the sale of exports – can apply for grants from the BEAM-Kentucky Export Promotion Program of up to $4,500, as the BEAM region has two years left on a goal to expand exports in its 22 county region by 50 percent.
“Our goal with Build it Locally and Sell it Globally is to increase export successes by 50 percent in five years,” Lexington Mayor Jim Gray said at a Tuesday morning press conference.
While the $4,500 limit on grants might seem small to a company bringing in eight-figure revenues, Gray said the funds that can reimburse mission trips to connect with potential international customers can make a big difference for a company and the region.
“It can stimulate and it can incent small steps at those companies that lead to bigger steps,” he said.