Trade Adjustment Assistance Center

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Trade Adjustment Assistance Center

One of several offices throughout the United States charged with implementing the Trade Adjustment Assistance program, which provides financial assistance for companies that have suffered hardship due to competition from cheaper imports. The assistance is intended to make these companies more competitive through diversifying products and other means. Each TAAC is responsible for companies in a certain region of the U.S.
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References in periodicals archive ?
In September, it voted to re-authorize the TAAC program.
A company in trouble goes to the TAAC in its area (see list).
Once DOC gives its blessing, a TAAC team develops a situational analysis of the company.
It's important to know that the analysts at each TAAC are not government employees.
At the Mid-Atlantic TAAC, for instance, Gates' analysts took apart a $1.3 million company (which Gates preferred to keep confidential) whose sales had declined 28 percent and whose employment had shrunk 38% because of a foreign competitor.
After performing the diagnostic survey, a TAAC helps the company develop a written business plan.
After the TAAC finishes its evaluation, it sends the report to the DOC for official approval.
Finally, when the DOC approves the business plan, the TAAC negotiates funding to implement the business plan.
The TAAC will help or monitor, depending on what the company wants and needs.
The type of work the TAAC will do depends on the company.