WASHINGTON (Oct. 7, 2011)—The Specialty Market Equipment Association will receive $500,000 in matching funds over the next three years as one of five 2011 recipients of Market Development Cooperator Program grants from the U.S. Department of Commerce, SEMA said.
The grant money will go toward supporting U.S. manufacturers that export automotive specialty equipment products to emerging international markets, SEMA said. The grant is intended to stimulate U.S. auto specialty product exports under the Obama administration's National Export Initiative, which has a goal of doubling U.S. exports by 2014.
SEMA was one of nearly 50 applicants for the grants, according to group. Criteria for the grant included export success, performance measurement, partnership potential with the International Trade Administration and compatibility with ITA priorities, SEMA said.