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July 15, 2024
LANSING, Mich. — Today, Michigan Department of Agriculture and Rural Development (MDARD) Director Tim Boring awarded Banks Hardwoods the department's 2024 Agriculture Exporter of the Year Award. Banks Hardwoods, founded in 1985, began exporting quality, graded lumber 10 years ago and sources 65 percent of their lumber from Michigan. Since they began exporting, the company has experienced tremendous growth with exports representing a significant part of their sales and generating 14 jobs.
"Michigan forests are diverse and plentiful allowing for quality timber to be used to benefit the hardwoods industry within the state both locally and internationally," said Boring. "The work Banks Hardwoods does to expand their export sales and to increase beneficial international partnerships through their exports and export education is admirable. We are proud to have hardworking companies like this in Michigan to expand upon our international presence in the international hardwoods industry."
"Michigan consistently ranks as one of the most agriculturally diverse states in the nation with agriculture export sales of $2.7 billion in 2023. Each year, MDARD recognizes Michigan's leading exporters by awarding them with the Ag Exporter of the Year Award. In doing so, the company is identified as having high quality products and a strong commitment to exporting. To be eligible for this award, more than 50 percent of a company's product must be grown, processed, or manufactured in Michigan, and exports must contribute substantially to the company's overall growth."
Banks currently supplies 13 different types of American hardwood lumber in various thicknesses, colors, and lengths to distributors and manufacturers in 14 countries. The material exported is used in furniture, millwork, and cabinetry applications. Banks works collaboratively with MDARD's Pesticide and Plant Pest Management division to ensure their products are pest-free, a distinction critical for entry into foreign markets. In addition to an export team with over 75 years of combined experience in exporting lumber, the company credits its export success to an investment in international travel and a focus on developing long-term buyer relationships.
"It is an honor to be recognized as the 2024 Michigan Ag Exporter of the year. Working with global partners not only allows us to understand and address varied consumer needs to expand our reach as a company, but also promotes economic growth both locally in Michigan and on a national scale," said Brian Farrier, Export Sales Manager at Banks Hardwoods. "We are so thankful for our team of motivated individuals who make this all possible. Together we graciously accept this award and will continue to strive for Quality Everything in all that we do while continuing to build relationships around the world."
Banks Hardwoods has worked to educate their international customers on the advantages of American hardwoods by incorporating their domestic educational program into the international markets. The Banks School has modules that discuss National Hardwood Lumber Association grading rules and defects, regional differences, and species characteristics. This helps to educate the international industry on U.S. standards and what they can expect when switching to North American Hardwoods for their applications. In providing this education, Banks Hardwoods is working to benefit the entire U.S. hardwoods industry.
Banks has successfully leveraged various trade resources within Michigan, including Food Export's USDA Branded program. This program offers a 50 percent cost reimbursement on many international marketing activities, including trade shows, foreign-compliant labels and packaging, website development, and more. Through their use of the Branded program, as well as the Michigan Economic Development Corporation's (MEDC) Michigan State Trade Expansion Program, Banks has been able to participate in international tradeshows such as Indiawood, Fimma Maderalia, and Techno Mueble. These programs have also been used to translate their flyers and their Banks School modules to Spanish and will be used for export advertising this year.
The Michigan Agriculture Exporter of the Year Award winner is selected based on export growth, innovation, and the pursuit of new export markets. The review committee consisted of members representing the Van Andel Global Trade Center, Michigan State University's International Business Center, Comerica Bank, the U.S. Commercial Service s International Trade Administration, and the MEDC International Trade Team.
For more information on past winners and the International Marketing Program, visit Michigan.gov/AgExport.
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