[Congressional Record Volume 160, Number 123 (Friday, August 1, 2014)]
[Extensions of Remarks]
[Pages E1311-E1312]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                   EXPORT-IMPORT BANK REAUTHORIZATION

                                 ______
                                 

                               speech of

                          HON. KYRSTEN SINEMA

                               of arizona

                    in the house of representatives

                        Wednesday, July 30, 2014

  Ms. SINEMA. Mr. Speaker, I rise today in support of the 
reauthorization of the Export-Import Bank because helping Arizona 
businesses expand their manufacturing capacity and exporting ability 
creates jobs and grows our economy.
  The Export-Import Bank fills gaps in private financing, stepping up 
where the private sector can't or won't.
  Last year, Export-Import Bank Chairman Fred Hochberg visited my 
district to help small and growing businesses increase their global 
exports right from our own backyard. From Fiscal Year 2007 to Fiscal 
Year 2014 the agency supported $176 million in exports from AZ-09 
companies.
  One of those companies, MarTek Inc. of Tempe, Arizona, was reluctant 
to sell their semiconductor equipment to customers in

[[Page E1312]]

Asia. They were concerned that once the equipment left their building, 
there was no guarantee they would get paid.
  Because of the large price associated with the equipment, their 
customers were unwilling to pay for the equipment in advance with the 
same fears that the equipment would not ship or be a quality product.
  The Export-Import Bank offered MarTek a solution. The bank issued an 
insurance policy so MarTek could make sales and have some guarantee 
they would be paid. Thanks to the Export-Import Bank MarTek now exports 
to companies in Asia, Europe and the Americas.
  Another business in my district that benefits from the Export-Import 
Bank is Ulthera, Inc. of Mesa, Arizona, which manufactures medical 
devices. Thanks to the Export-Import Bank Ulthera was able to access 
additional debt financing at a critical point in their business. It's 
now one of the fastest growing companies in Arizona with sales in over 
30 countries outside the U.S.
  As we all know, the Export-Import Bank's current charter is set to 
expire at the end of September. A lapse in authorization would threaten 
the competitiveness of these and many other Arizona businesses. I am a 
co-sponsor of legislation to extend the Export-Import Bank's 
authorization and will continue to work to reauthorize this important 
investment in American jobs.

                          ____________________