U.S. Secretary of Commerce Penny Pritzker presented CCK Strategies with the President’s “E” Award for Export Service at a ceremony in Washington, D.C., May 16. The President’s “E” Award is the highest recognition any U.S. entity can receive for making a significant contribution to the expansion of U.S. exports.
“Congratulations to CCK Strategies being honored today for its achievements in exporting,” said Secretary Pritzker of the Tulsa-based global tax and accounting firm. “The “E” Awards Committee was very impressed with the organization’s work to help exporters understand the export process and enter new international markets. Their success contributes to growth, job creation, competitiveness, and the success of the American economy.”
“This year’s “E” Award winners have shown tremendous dedication to expanding into foreign markets, often overcoming significant barriers,” said Thomas Strauss, Southern Regional Director of U.S. Commercial Service. “Having access to tools and resources provided by the U.S. Commercial Service, these businesses are better primed for tapping into global market opportunities where 95 percent of all consumers exist.”
CCK Partner Eric Kunkel expressed, “CCK has the good fortune to work with many successful companies which are making substantial contributions to the U.S. Economy with innovation, quality new jobs and economic development. Exporting is crucial to the success of these businesses. This recognition for CCK is a direct reflection of the great work being done by our entrepreneurial clients.”
In 1961, President Kennedy signed an executive order reviving the World War II “E” symbol of excellence to honor and provide recognition to America’s exporters. In 2015, U.S. exports totaled $2.23 trillion, accounting for nearly 13 percent of U.S. GDP. Nationally, exports contributed to the U.S. economy, supporting an estimated 11.5 million jobs.
U.S. companies are nominated for the “E” Awards through the Department of Commerce’s U.S. Commercial Service office network. Criteria for the award is based on four years of successive export growth and case studies which demonstrate valuable support to exporters resulting in increased exports for the company’s clients.
CCK is a non-traditional firm that connects globally by working with companies headquartered on four continents with operations in over 25 countries. CCK export revenue from international clients was approximately 21% of CCK’s year 2015 gross revenue, reflecting an increase of approximately 87% from year 2014 export revenue as a percentage of total revenue. This increase in international sales has been a principal driver in CCK employment rise over the last year from 61 to 83 total staff, making CCK one of the largest CPA firms in Oklahoma. The continued growth brings expertise to clients with a variety of business needs in international business consulting and planning, IC-DISC implementation, foreign tax credits, outbound and inbound structure planning, worldwide tax minimization planning, transfer pricing analysis, ASC 740 (FAS 109/FIN 48) and IFRS/GAAP convergence.
Oklahoma depends on world markets, with export shipments of merchandise in 2015 from the state totaling $5.3 billion, which support approximately 36,000 jobs. Foreign controlled companies employ approximately 46,000 Oklahoma workers. Over 3,000 companies export from Oklahoma locations with approximately 84% of these being small and medium-sized companies with fewer than 500 employees.
Last month, CCK Strategies was honored with the 2016 Governor’s Award for Excellence in Exporting. This prestigious award recognizes one or more Oklahoma firms annually for noteworthy success in increasing export sales. The award was presented at the Governor’s luncheon during the 33rd Annual Oklahoma World Trade conference. CCK Strategies’ clients represent two-thirds of the companies honored by these Statewide Export Awards in 2014 and 2015. This reflects CCK’s continuing commitment with clients in the international and export marketplace in tax, accounting and consulting matters.