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Chuck Mills.

Chuck Mills.

As the deadline for renewal of the Export-Import Bank of the United States’ charter approaches at the end of June, some congressional representatives promise they’ll allow the vital American economic tool’s existence to lapse.

In an article by Andrew Taylor of the Associated Press, House Financial Services Committee Chairman Jeb Hensarling said he wants the bank’s charter to expire without a vote and said that “the momentum is in our favor.”

“This is going to be a critical vote, or hopefully a non-vote, on the future of the Republican Party and the future of our economy,” Hensarling said.

Despite pleas from House Speaker Jon Boehner that such a move would risk thousands of American manufacturing jobs for workers whose products are shipped abroad and guaranteed through the EXIM Bank’s export credit insurance, it appears Representative Hensarling’s move to kill the vital government program may succeed.

The OKGIT’s Chuck Mills, who is also the 2014-2015 Chairman of the Oklahoma Chamber of Commerce and a third generation small business owner and exporter, penned an op-ed in the Tulsa World countering claims that the EXIM Bank is government subsidized corporate welfare and a burden on Oklahoma’s small businesses.

According to Mills, “the bank is a government agency that has, in fact, returned $7 billion to the government since 1992, while enabling businesses like ours to enter to new markets through the safety net provided by the bank’s export credit insurance offerings.”

Randy Kellogg

Randy Kellogg

He also touched on the repercussions should the bank’s charter not be renewed, writing “Three generations of my family have been manufacturing quality earth drilling products worldwide for a range of drilling types, right here in Shawnee. We sell drill bits, augers, and other equipment overseas, with exports now accounting for about 20 percent of our business. The export-import bank enabled us to cultivate many of these overseas opportunities — which would ultimately be jeopardized if the bank lost its charter, along with our 20 employees.

“In the Sooner State alone, since 2007, over 115 businesses received export-import bank financing that supported over 7,000 jobs. Losing that financing and the bank’s credit insurance offerings would deliver a harsh blow to businesses throughout the state.”

The OKGIT’s Randy Kellogg, an approved lender with many years of experience in assisting Oklahoma firms do business with EXIM, also spoke in favor of the charter’s renewal at the group’s March 2015 meeting.

“Export-Import helps keep a level playing field for Oklahoma companies on international markets…it doesn’t help finance foreign governments as some critics suggest or only benefit big companies. Its financing helps smaller manufacturers who are indirect exporters when they supply firms like Boeing Company…”

Sawyer Manufacturing Co.

Sawyer Manufacturing Co.

The most obvious success story of EXIM’s support on Oklahoma-based businesses is Sawyer Manufacturing, which was just named the Small Business Administration’s National Exporter of the Year.

In an EXIM feature on the Tulsa-based small business‘ use of the banks financing, Sawyer Manufacturing’s Vice-President Dave Hembree said  that “the ability to extend credit on international sales allows us to grow our business in existing international markets and export our products to new countries by giving our international distributors more flexibility to invest and market our products. Credit terms provided to our international distributors in these markets allow them to better compete, so it makes our U.S. made products more competitive in the international markets.

Closing out a successful 2014, Shawnee-based Mills Machine Company was honored by Oklahoma Labor Commissioner Mark Costello for its innovative commercial success and investment in Oklahoman jobs. Commissioner Costello presented company owner and president Chuck Mills with the Entrepreneurial Excellence in Oklahoma Award.

“I am constantly in awe of Oklahoma and the many successful and profitable private companies that I have been exposed to,” said Costello. “Each of these amazing business owners has a unique story about why they started their company and how it has evolved over the years. I want to honor these entrepreneurs for their commitment to Oklahoma and for their success in creating opportunities for other Oklahomans.”

The award was presented at the company’s Shawnee manufacturing facility on Dec. 18, 2014.

“Our company has been under the leadership of the Mills family for 106 years here in Shawnee,” commented Mills upon receiving the award. “But none of our success would have been possible without our loyal and hardworking employees.”

District 17 Senator Ron Sharp and District 26 Representative Justin Wood, who represent the Shawnee-area at the state capitol, were also in attendance. Both presented commendations to Mills.

Founded by the Mills family in 1908, Mills Machine Company is a leading manufacturer of earth drilling tools. It has become a multimillion dollar company providing a full line of specialty earth boring tools and accessories for water, mining, construction, utility and environmental applications. Under current owner and president Chuck Mills, the company has expanded to new domestic and international markets over the past 35 years.

Mills focus on investment in Oklahoman jobs is reflected in his service as the acting Chairman of the Oklahoma State Chamber of Commerce and the Governor’s Council for Workforce and Economic Development. Mills’ has previously served as the chair of the Oklahoma Governor’s International Team, an organization he continues as an active member.

The Entrepreneurial Excellence in Oklahoma Award recognizes Oklahoma-based entrepreneurs who have created profitable employment for their fellow Oklahomans and to foster a positive business atmosphere. Legislators, local Chambers of Commerce, civic organizations and the public nominate deserving businesses regardless of size or age, though the decision of award winners is left to the labor commissioner.

(Pictured above: (Left to right) Commissioner Larry Costello, Rep. Justin Wood, Chuck Mills, Sen. Ron Sharp, Shawnee Mayor Wes Mainord.)