Exports are big business in Michigan. In 2012, $53 billion, which is about 15 percent of the state’s gross domestic product (GDP), was attributed to the state’s export economy. And that’s up 12 percent from 2011.
ReWorking Michigan examines our evolving economy, as the people of the Great Lakes State explore new ways to make a living and build a future.
Today, our reWorking Michigan Monday report looks at Michigan’s “STEP” program. That’s short for State Trade and Export Promotion. The initiative uses federal dollars to help Michigan companies with fewer than 500 employees enter or expand into the export market. The funding helps businesses pay for things like overseas trade missions and foreign language translation services.