August 16, 2018
INDIANAPOLIS, Indiana – The Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, today in Indianapolis hosted its second small business seminar of the year. American small businesses attended the half-day seminar to learn about the opportunities of expanding into emerging markets overseas, and the OPIC finance and political risk insurance tools available to support them.
Since 2006, OPIC has hosted more than 40 workshops and seminars across the United States, educating almost 5,000 American small business owners and entrepreneurs about the ways OPIC can help them compete in the global marketplace.
OPIC works with American businesses to stimulate economic development both abroad and at home.
Illinois-based Greenlight Planet, for example, used an OPIC loan of $5 million to expand its innovative off-grid solar energy solutions to homes and businesses across the developing world. With OPIC’s support, the company has expanded access to clean, affordable lighting and electricity to underserved communities in over 60 developing countries in Africa, Asia, and Latin America.
OPIC has a history of partnering with Indiana businesses to support their overseas ventures. In 2016, OPIC committed $92.4 million to projects sponsored by Indiana companies. From the same year, it is expected that OPIC’s portfolio will bring $167.4 million back to Indiana for the procurement of goods and services from local businesses.
Emerging markets can be a vital source of growth for American companies, and OPIC will continue its ongoing commitment to help American small businesses expand into high-growth markets by continuing to hold these seminars around the country.
Watch Senator Todd Young of Indiana give remarks at OPIC's Small Business seminar in Indianapolis here.
The Overseas Private Investment Corporation (OPIC) is a self-sustaining U.S. Government agency that helps American businesses invest in emerging markets. Established in 1971, OPIC provides businesses with the tools to manage the risks associated with foreign direct investment, fosters economic development in emerging market countries, and advances U.S. foreign policy and national security priorities. OPIC helps American businesses gain footholds in new markets, catalyzes new revenues and contributes to jobs and growth opportunities both at home and abroad. OPIC fulfills its mission by providing businesses with financing, political risk insurance, advocacy and by partnering with private equity fund managers.
OPIC services are available to new and expanding businesses planning to invest in more than 160 countries worldwide. Because OPIC charges market-based fees for its products, it operates on a self-sustaining basis at no net cost to taxpayers. All OPIC projects must adhere to best international practices and cannot cause job loss in the United States.