President Signs Bill Creating State Trade and Export Promotion Program

On September 27, 2010, the president signed the Small Business Jobs Act of 2010 (P.L. 111-240). The law included $1.5 billion for a State Small Business Credit Initiative, a new formula grant to support small business lending (see Issue Brief 10-37 for more information). In addition, the law establishes a State Trade and Export Promotion (STEP) grant program, a three-year pilot project to enhance state export promotion programs by focusing on small businesses. This Issue Brief provides preliminary details on the STEP program.