Kentucky exports have record year

LEXINGTON, Ky. (LEX 18) – More Kentucky products were shipped around the world in 2023 than any other year on record, meaning more money for the local economy.

The Commonwealth exceeded its one-year total with an incredible export value of $40.2 billion – a 16.6% increase on the previous year. To continue bringing these products to the global market, there is a funding program for small businesses that want to venture into the big leagues.

“This is aimed at companies in the growth phase of development and helps them take the next step. It’s an encouragement to test the waters,” said Mary NeCamp, director of STEP.

STEP stands for the State Trade Expansion Program. The program reimburses small and medium-sized businesses for travel, trade shows, marketing materials and other opportunities to get their products out of Kentucky.

“Having these funds available through the STEP program is a huge plus,” said Bud Renfroe, vice president of Everburn Manufacturing.

Everburn has been a Lexington business for 31 years. They produce products for the combustion industry, such as: B. non-combustible fireplace mantels, artificial logs and brick panels. They are the largest provider in the world; They ship to Canada and Europe and employ 175 people.

“Any funding we can get to grow our business or distribute more products allows us to keep more funds here and support our team members, which in turn supports the local community,” Renfroe said.

The eligible amount is between $10,000 and $15,000. To qualify, the export must be 51% U.S. content. The top three exporting counties in the state are Jefferson, Boone and Fayette, in that order.

If you would like to learn more about STEP, click here.