Packwell Receives the Make More in America Deal of the Year Award at Export-Import Bank of the United States’ 2024 Annual Conference
Washington, DC – Packwell Inc. received the Make More in America Deal of the Year Award today at the Export-Import Bank of the United States’ (EXIM) 2024 Annual Conference.
The award was presented to Packwell Inc. in recognition of an export transaction authorized as a result of EXIM’s flagship Make More in America (MMIA) initiative, designed to reinvigorate domestic manufacturing by providing leveraging EXIM financing capabilities to assist U.S. exporters.
Established in 1986, Packwell is a certified plastics bagging and logistics company based in Houston, Texas. It is one of the largest resin bagging companies in North America, with more than 160,000 square meters of warehouse facilities.
The third transaction approved under MMIA, Packwell received a $51 million direct loan to support the construction of a packaging and warehousing facility that will support an estimated 300 area jobs. The facility will be used to increase the small business’ packing capacity and efficiency.
“Supporting American small businesses grow and succeed in the global marketplace is EXIM’s primary mission,” said EXIM President and Chair Reta Jo Lewis. “The financing we were able to provide Packwell through MMIA will be critical element as it expands its exporting capabilities and support of its local economy.”
“By providing an innovation solution, the Export-Import Bank of the United States has facilitated Packwell’s investment in the Port of Houston, representing an expected 30% increase in export volume,” said Al Duran, Chairman of Packwell.
The Make More in America initiative is a direct result of President Biden’s Executive Order 14017 on Securing America’s Supply Chains, which specifically charges EXIM with developing a tool designed to leverage the Bank’s existing financing capabilities to spur domestic manufacturing.
ABOUT EXIM BANK:
The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Learn more at www.exim.gov.