For many companies, GSP renewal makes the difference between profits and losses; contraction and growth. The GSP expiration from August 2013 to July 2015, during which time American companies paid about $1.3 billion in tariffs while awaiting Congressional action, made this clear.
The profiles below, based primarily on a 2016 survey, detail the both the costs of GSP expiration and the opportunities provided by GSP renewal. If your company is willing to be profiled in a similar manner, please answer this survey or call the Coalition for GPS at 202-347-1041.
3V Sigma USA
Georgetown, South Carolina
"GSP allows our products to remain competitive. Without GSP, we couldn’t compete and lost millions in sales."
Aid Through Trade
"The money we save through GSP allows us to invest in the growth of our business via new employees, technology, and advertising."
B&C Technologies, LLC
Panama City Beach, FL
"GSP is key in allowing us to stay competitive with our products and parts. Many of the parts we import under GSP simply are not available in the United States."
Burris Company, Inc.
"We are aggressively building up our American manufacturing capabilities by investing in our facility and equipment and hiring additional staff. Without the GSP to balance our income and cash flow, continued expansion of our U.S. manufacturing will not be possible."
"GSP savings allow us to stay competitive in the machinery market. With GSP renewal, we have been able to grow our company while still providing excellent customer service."
Golden Country, LLC
"When GSP expired, we lost sales because our products became more expensive. Due to the uncertainty of GSP renewal, we were forced to put a freeze on hiring and capital expenditures."
“Loss of GSP benefits delayed development of 3 new bicycle platforms – and the jobs that went with them. Renewal allowed us to make those investments and hire 5 new workers, a big jump for a company our size."
Leila's Linens, Inc.
New York, New York
"GSP expiration forced us to delay two new hires and the purchase of much needed business software. We lost $1.7 million in sales as many clients went directly to factories overseas."
“Without GSP, we struggled to maintain profitability. With GSP renewal, we were able to hire 6 new employees and increase salaries by more than $50,000.”
M S International, Inc.
"Since GSP was reinstated, we’ve increased our headcount by 280 employees and more than doubled our capital expenditures. GSP renewal was a major contributor to this growth."
"We froze hiring after GSP expired. Since GSP was reinstated and refunded, we have hired five new employees."
Little Ferry, New Jersey
"Though we are not a large company, we offer very good salaries and benefits. Loss of GSP benefits severely limited our ability carry on these policies. Furthermore, GSP allows our partner in Indonesia to provide good jobs with benefits like basic healthcare in a very poor area of the country."
Royal Chain Group
New York, New York
“GSP expiration cost us millions and put hiring and expansion plans on hold. Once it was renewed, we took over another floor in our building and hired 12 new employees.”
Sophia Foods, Inc.
Brooklyn, New York
"Thanks to the stability ensured by GSP renewal, our sales have increased, and we have very recently landed two major accounts which we hope will expand our business exponentially into the future."
Summit Specialty International
"GSP renewal allowed me to hire two new workers, give raises to my five existing workers, and start providing medical insurance to all employees."
Greensboro, North Carolina
"This year we rolled out stocking programs to three of our biggest customers and initiated a program to attempt to create a domestic manufacturing facility. This would not have happened without the renewal of the GSP."
Universal Arquati Moulding
Santa Clarita, California
"Not knowing if or when GSP duties paid might be refunded put all expansion plans on hold. GSP renewal let us hire a dozen workers and buy new equipment leading to even more sales opportunities."
"GSP is extremely important to our woman-owned, fair-trade business. It not only helps our small staff here in the U.S., but our business provides low-income artisan groups in India with sustainable work."
Winston-Salem, North Carolina
"We compete with products imported directly from China. We are able to grab a small market share because GSP allows us to buy higher quality, duty-free mugs."
Zebra Pen Corp.
Edison, New Jersey
"GSP is very important to our business. It reduces costs allowing us to reduce our sales prices and remain competitive. It is beneficial to both us and our customers."