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Smart Taactics

 

If your company is losing sales or employees because of foreign imports, you may be able to get consultation and help in applying for financial assistance from 11 Trade Adjustment Assistance Centers (TAACs) across the country.

For example, three years ago, Gillette Industries, a down-outerwear manufacturer in LaCrosse, Wis., was facing fierce competition from Chinese imports. "With our production costs at $5 an hour, compared to 25? an hour for goods produced in China, it's easy to guess who was going to win," says company president Terry Gillette. With assistance from the Midwest Trade Adjustment Assistance Center, Gillette Industries was able to research its options and now produces a line of designer fashions not threatened by overseas competition.

TAACs, sponsored by the International Trade Administration (ITA) of the U.S. Commerce Department, provide consulting services and financial assistance of up to $3 million in the form of 90% loan guarantees and/or $1 million in direct loans from the ITA.

In order to qualify for certification, a company must submit a petition for eligibility to the Office of Trade Adjustment Assistance, Certification Division, Room 6022, U.S. Department of Commerce, Washington, DC 20230.

Local TAACS, most of which serve several state areas, are located in Atlanta, Binghamton, N.Y., Boston, Chicago, Colorado Springs, Little Rock, Los Angeles, New York City, Philadelphia, Seattle, and Trenton, N.J.