Showing its growing economic prowess in the global market, Chandler-based AvAir ranks second on the state’s recipient list from the U.S. Export-Import Bank with $47.4 million in funding assistance to foreign clients since 2007.
The U.S. Export-Import Bank primarily makes credit available to foreign companies to buy U.S. goods. This credit assistance to foreign clients has fueled AvAir’s expansive growth abroad for its aviation aftermarket business. It has also helped create new jobs at the company to meet skyrocketing demands of its goods and services—which, in addition to the buying and selling of aircraft parts, include the development of industry-leading programs for managing and maintaining entire aircraft fleets.
Overall, 117 Arizona businesses have received aid totaling $489 million since 2007, according to a U.S. Export-Import Bank report released in time for bank chairman Fred Hochberg’s recent visit to Arizona. While AvAir received 9.7% of the funding, a far-distant Bio Huma Netics of Gilbert received 5.8% of the total with $28.5 million.