Hyde Park — U.S. Secretary of Commerce Penny Pritzker today presented Hycomp Inc. with the President’s “E” Award for Exports at a ceremony in Washington, DC. 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.
Hycomp Inc. manufactures oil free air and gas compressors used in industrial processes, including nitrogen blanketing, laser cutting and blow molding of plastic products as well as many others. Hycomp compressors, equipped with a lubricated bottom end and an oil free compression end, provide oil free compressed air or gas with an average service life of 20 years. Hycomp has gathered international attention due to the reliability and longevity of their compressors, allowing the company to expand into global markets and place a greater emphasis on exports.
“At least 60% of our business comes from exports.” states Marty Malzahn, Hycomp Inc. Sales & Marketing Manager, “Without exports, the growth we’ve experienced in recent years would not have been possible and the future growth we are striving towards would not be realistic. Export is our business.”
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. Today, Secretary Pritzker honored 123 U.S. companies with the President’s “E” Award for their outstanding work to reduce barriers to foreign markets and to open the door to more trade around the world.
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, located within the Department’s International Trade Administration, with offices in 108 U.S. cities and more than 70 countries. Record years of successive export growth and an applicant’s demonstration of an innovative international marketing plan that led to the increase in exports is a significant factor in selecting the winners.
For more information about the “E” Awards and the benefits of exporting,visit www.export.gov.