Ex-Im & Westinghouse
Regarding the editorial “The Export-Import Bank: Do not resuscitate” : The Ex-Im bank is not corporate welfare. It is, to the contrary, a U.S. jobs-creating agency that helps to level the playing field for U.S.-based companies like Westinghouse that must compete in the global marketplace against companies that are state-owned or heavily subsidized by their governments.
Without the Ex-Im Bank, companies like Westinghouse would be at a severe disadvantage, as our state-owned and state-controlled competitors offer their customers numerous incentives including strong project financing.
The Ex-Im Bank, however, by providing these global customers with a U.S. financing option for U.S. exports, makes it much more likely that infrastructure decisions around the world will be made on the basis of the quality and price of the product, service or technology. On this type of balanced playing field, Westinghouse and hundreds of other U.S. companies are able to win large global contracts that will continue to create and sustain hundreds of thousands of U.S. jobs.
For Westinghouse, the four new AP1000 nuclear plants we are now constructing in China are creating 20,000 well-paying jobs in 20 states. It is also important to point out that the successful pursuit of international business has helped Westinghouse to become a net exporter of products and services. More than half of our revenues originate outside the United States, but more than 60 percent of our global workforce is in the United States, including more than 5,000 employees right here in Western Pennsylvania.
The writer is communications Director for Westinghouse Electric Co.