The U.S. Senate has put the Export-Import Bank back in full operation by confirming the nominations of Spencer Bachus, Judith DelZoppo and Kimberley Reed to fill open positions on the bank’s Board of Directors. Reed will serve as the board’s president.
The bank, which helps U.S. companies finance purchases by foreign buyers, has been limited to approving deals worth $10 million or less over the past several years by a political deadlock over filling seats. Aerospace companies have said they have lost business as a result.
Aerospace Industries Association President and CEO Eric Fanning praised today’s confirmations in a statement.
The Bank now has the required number of Directors to approve transactions over $10 million, and immediately can begin work to reduce the backlog of $40 billion in deals that have been awaiting approval. This begins to put American exporters on a level playing field with international competition with active support from their domestic export credit agencies.
The next step to send a clear signal that America is serious about competing in the global marketplace is for Congress to begin work on a long-term authorization for the Bank. The Bank’s current authorization expires at the end of the fiscal year, and American exporters will once again be fighting an uphill battle if Congress fails to pass a reauthorization bill.
The Bank is an important tool for American industry, including aerospace companies of all sizes. We look forward to working with Congress and the administration to ensure the Bank has the support it needs to fulfill its critical mission of supporting American exporters.
We’re disappointed that the @EximBankUS nominees have expired and were not included in the final package. The Ex-Im bank helps support 2.4mil jobs in the U.S. #aerospace industry and plays a key role in our economy. Ex-Im needs leaders committed to its continued success.
With the new Congress, the president’s nominations to fill open seats on the Export-Import Bank have expired and need to be resubmitted to Congress. This limits the board to financing small deals, with larger ones for various satellite manufacturers and launch providers prohibited until the seats are filled. Sen. Richard Shelby (R-Ala.) has been blocking hearings on nominees.
Praise is pouring in for Space Policy Directive 1, the Trump Administration’s document that focuses the nation’s civilian space program on returning astronauts to the moon.
Coalition for Deep Space Exploration
The Coalition for Deep Space Exploration (Coalition) welcomes Space Policy Directive-1 (SPD-1) signed today by President Trump, formalizing the commitment made by the Administration during the first meeting of the National Space Council to reinvigorate America’s deep space exploration program. The signing ceremony in the White House West Wing was attended by Coalition President and CEO Dr. Mary Lynne Dittmar together with the President, Vice President, members of Congress, NASA Acting Administrator Robert Lightfoot and NASA astronauts – including Dr. Harrison “Jack” Schmitt, who together with the late Captain Eugene Cernan were the last Americans to visit the Moon during Apollo 17 exactly 45 years ago.
ARLINGTON, Va. (AIA PR) — The Aerospace Industries Association announced today that Eric K. Fanning will become its president and chief executive officer, effective January 1, 2018.
“Eric is an accomplished, respected leader whose broad government and national security experience will serve AIA and its member companies well,” said AIA Chairman Dennis A. Muilenburg, Boeing chairman, president and CEO. “Building on the significant progress made under Dave Melcher’s leadership, Eric will strengthen AIA’s position as the voice of the aerospace and defense industry, bringing continued attention and advocacy to key issues affecting civil aviation, space and defense. We owe Dave our enduring gratitude for his tireless advocacy and many contributions to our industry.”
Statement by AIA President and CEO David F. Melcher urging President Trump to withdraw the nomination of Congressman Scott Garrett to chair the Export-Import Bank of the United States and submit nominations for a full Board of Directors that will support the Bank’s key mission.
Arlington, Va. — Since the reauthorization of the U.S. Export-Import Bank (Ex-Im) in 2015, AIA has continually stressed the need to establish a quorum on the five member Ex-Im Board of Directors and make the Bank fully functional to ensure America’s aerospace and defense industry — which supports 2.4 million American workers — can compete on a level playing field. That is why we initially met President Trump’s announcement in April of his support for Ex-Im and its mission with great optimism.
ARLINGTON, Va. (AIA PR) — The Aerospace Industries Association today released its “2017 Facts & Figures” report on the U.S. aerospace and defense industry. The document, which highlights the vital contributions of American A&D as drivers of economic strength and prosperity, also includes a new employment number – 2.4 million jobs – that better reflects the industry’s reach into the cyber and land and sea vehicle domains as important parts of the overall A&D industry.
Engine for Growth: Analysis and Recommendations for U.S. Space Industry Competitiveness
Aerospace Industries Association May 2017 [Full Report]
Policy Recommendations for Strengthening U.S. Space Competitiveness
1. Level the Playing Field
Provide a responsive regulatory environment for commercial space activities. The list of commercial space activities is varied and growing, ranging from traditional applications such as satellite telecommunications to emerging ones like space resource utilization. At the same time, the U.S. space industry is governed by multiple federal agencies with disparate regulatory interests, including the Federal Communications Commission, the Federal Aviation Administration and Departments of State and Commerce. These agencies often suffer from funding and staffi ng shortages, a situation that creates bottlenecks in licensing processes and slows responsiveness to technological and market changes. The new Administration should work closely with Congress to ensure that the appropriate space regulatory agencies are fully resourced and staffed. (more…)
ARLINGTON, Va. (AIA PR)— The Aerospace Industries Association, supported by research and analysis provided by the consulting firm Bryce Space and Technology, released a report today highlighting the growing importance of the U.S. domestic space industry to our nation’s economic vitality and security. The report: “Engine for Growth: Analysis and Recommendations for U.S. Space Industry Competitiveness,” recommends specific steps that the U.S. government should take to maximize potential for renewing American leadership in global trade and investing in infrastructure for a stronger America.
“With annual space and space-derived markets worth more than $300 billion and with new markets emerging for everything from internet communications, remote sensing, satellite servicing, transportation to space and manufacturing in space, we simply can’t afford to be left behind,” said AIA President and CEO David F. Melcher. “We must take a fresh look at the policies, regulations and tax structures impacting America’s commercial space leadership and take steps to assure U.S. space competitiveness.”
ARLINGTON, Va. (AIA PR) — Aerospace Industries Association sent a letter today urging Congress to pass a completed FY2017 appropriation package rather than a full-year continuing resolution. We also ask that the ExIm Bank be enabled to process transactions more than $10 million. It was signed by more than 70 CEOs and senior industry representatives from AIA member companies.
The letter argues that the aerospace and defense industry is “arguably the most successful sector in our country,” contributing significantly to our nation’s economic growth, stability and national security despite “great uncertainty and instability in both the marketplace and with regard to annual government funding.” Our innovative industry supports our military, the dynamic aerospace sector and space exploration, and few things would offer a greater sense of stability going forward than completing the final FY2017 appropriations bills and restoring the ExIm Bank to full functionality.
Dear Speaker Ryan, Leader McConnell, Leader Pelosi, and Leader Reid:
With the 114th Congress coming to a close, the Aerospace Industries Association (AIA) and the leaders of our member companies would like to express our strong support for efforts to pass appropriations legislation providing full year FY 17 funding for the federal government.
Commercial Space Competitiveness Strategy for the 21st Century Aerospace Industries Association
The United States was the leader in space for much of the early Space Age after initial Soviet successes. From the development of the Saturn V rocket and the Apollo Lunar landing program, to development of the first communications satellites and the Global Positioning System, the U.S. has been the primary driver of both the exploration and commercial utilization of space.
ARLINGTON, Va. (AIA PR) — The Aerospace States Association (ASA) an association of state Lt. Governors and the Aerospace Industries Association (AIA) representing aerospace manufacturers have signed a historic agreement to grow high paying jobs, increase economic development and inspire America’s youth to join the aerospace workforce of the future.
ASA Chair, Alabama Lt. Governor Kay Ivey said “America’s aerospace industry is our nation’s and our states’ lifeblood. It provides for national security, provides transportation for our economy, and provides the ability to explore space, the next frontier. The aerospace industry grows our state economies, employs more than one million high-paying jobs, and is a source of innovation and inspiration for our youth to enter our STEM workforce.”
WASHINGTON (AIAA PR) — A coalition of space organizations today released a joint white paper, “Ensuring U.S. Leadership in Space,” at a National Press Club Newsmaker news conference at the National Press Club in Washington, DC.
ARLINGTON, Va., Feb. 11, 2016 /PRNewswire-USNewswire/ — AIA believes that the President’s Fiscal Year 2017 budget request does not provide the funding we need to ensure safe air transportation, make America more secure, promote space exploration, and ensure a vibrant and innovative industrial base. If this budget is adopted, we will fail to address the serious mismatch between our resources and the new threats and challenges our nation faces today.
Statement by Aerospace Industries Association President and CEO David F. Melcher on the House voting to extend the R&D Tax Credit permanently.
Arlington, Va. — AIA welcomes the House vote to permanently extend the research and development tax credit which lapsed at the end of 2014. It provides an important incentive during these times of fiscal austerity for thousands of companies to make long-term investments in innovation and is critical to creating economic growth. Particularly at a time when DOD is actively seeking new sources of innovation, it’s imperative that we do everything in our power to incentivize companies in every sector to invest in innovative ideas and solutions.
This credit supports companies that invest working capital in basic research and in applied research aimed at the creation or improvement of products. More than 70 percent of the credit is used to fund the salaries of R&D workers who hold the kinds of high-quality jobs that fuel our national economy, with the remainder applied to investment in new plant and equipment.
Currently, the U.S. significantly trails other leading countries in providing incentives for companies to conduct research and development. Making this critical tool for spurring investment and innovation permanent helps maintain the American edge in innovation and provides companies with the certainty they need for long range planning. The House is to be congratulated for voting to ensure American companies can rely on this credit going forward and we encourage the Senate to pass the bill as soon as possible.
ARLINGTON, Va. (AIA PR) – The aerospace and defense industry had a strong year in 2015, achieving a number of its top priorities. Despite a lengthy delay, the Export-Import Bank of the United States was reauthorized for four years; significant relief from the budget caps imposed under the Budget Control Act of 2011 was achieved for 2016 and 2017 with passage of the Bipartisan Budget Act of 2015; and there are hopeful signs that a year-long omnibus with an extension of the R&D Tax Credit will pass shortly.
“2015 was a year that saw great progress on a number of initiatives for the aerospace and defense industry,” said AIA President and CEO Dave Melcher. “From Ex-Im to the budget deal, we achieved many of our goals, but there’s still a lot of work to do.”