February 26, 2018

Administration Leader Ray Washburne, 100+ Dallas Leaders Tout Impact of Development Finance for Texas Jobs

President and CEO of the U.S. Overseas Private Investment Corporation (OPIC), Ray Washburne back home in Dallas to highlight value of America’s economic development toolkit for Texas

DALLAS Just two weeks after the Administration unveiled a proposal to strengthen the U.S. government agency now run by Dallas-native Ray Washburne, he joined over 100 business and community leaders in Dallas to discuss the importance of international development finance for bolstering Texas’ economy and fighting global poverty.

“Development finance is an invaluable tool, both for advancing U.S. interests abroad and supporting American businesses at home,” said Ray Washburne, President and CEO of the U.S. Overseas Private Investment Corporation. “By backing investments in developing countries, OPIC not only helps American and Texas-based companies succeed and prosper, it drives economic growth and stability in some of the world’s poorest nations.  At no net cost to the American taxpayer, OPIC is just about the best investment our government can make to advance its economic, security and foreign policy objectives.”

A small but innovative U.S. government agency, OPIC helps American companies invest in some of the toughest developing countries around the world, where they are unable to otherwise secure financing or risk insurance. Operating on a self-sustaining basis, OPIC has contributed $3.7 billion to reduce the federal deficit over the past 10 years. With over 3.1 million Texas jobs tied to trade, and exports to foreign markets totaling more than $232 billion a year – accessing emerging markets is of strategic importance to Texas.

“OPIC unlocks opportunities for American businesses of all sizes in some of the world’s fastest growing economies,” said Jason Gross, Executive Director of the U.S. Global Leadership Coalition (USGLC). “As our top competitors vie for access and influence in emerging markets around the world, strengthening America’s development toolkit is key to maintaining our economic competitiveness and strength. And with Ray Washburne at the helm, OPIC means a bright future for business owners in Texas and across the nation.”

The Administration’s latest budget request calls for “renewing America’s competitive edge” and proposes strengthening and modernizing America’s development finance efforts – a proposal that has already garnered bipartisan support on Capitol Hill.

 Today’s forum hosted by the USGLC also brought together Jason Johnson, owner of J2 Strategies, and Ambassador Robert Jordan, former U.S. Ambassador to Saudi Arabia (2001-2003).

The U.S. Global Leadership Coalition (www.usglc.org) is a broad-based influential network of 500 businesses and NGOs; national security and foreign policy experts; and business, faith-based, academic, military, and community leaders in all 50 states who support strategic investments to elevate development and diplomacy alongside defense in order to build a better, safer world.