Vermont Senator Peter Welch has praised the $169M loan awarded to BETA Tech, a Burlington-based tech company. The loan, provided by the U.S. Export-Import Bank, will allow the electric aircraft company to expand its reach and continue serving a global customer base. According to Senator Welch, this investment will create more sustainable jobs in Vermont and lead the world in innovative aviation technology.
President Biden also highlighted the significance of this loan as an important investment from the Asia Pacific into the U.S. private sector. This support will enable BETA Technologies to further its growth trajectory and serve customers in economies such as New Zealand, India, and Japan. The loan is seen as a valuable step towards creating new opportunities for American businesses in international markets.
BETA Tech’s growth potential and its current and potential customers in various economies have attracted international interest, leading to this significant investment from the EXIM Bank. With this support, the company will be able to continue leading innovation in aviation technology while expanding manufacturing production in America and creating more sustainable jobs locally.