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An Economic Development Partnership

An Economic Development Partnership. Trade Compliance & Foreign Exchange Workshop November, 2012 John D. Chaffee, CEO. Northeast. Piedmont Triad. Research Triangle. Charlotte. Advantage West. Eastern. Southeast. NCPED North Carolina Partnership for Economic Development.

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An Economic Development Partnership

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  1. An Economic Development Partnership Trade Compliance & Foreign Exchange Workshop November, 2012 John D. Chaffee, CEO

  2. Northeast Piedmont Triad Research Triangle Charlotte Advantage West Eastern Southeast NCPED North Carolina Partnership for Economic Development

  3. Geography and Population • Comprised of 13 counties: Carteret, Craven, Duplin, Edgecombe, Greene, Jones, Lenoir, Nash, Onslow, Pamlico, Pitt, Wayne and Wilson • Landmass larger than the • states of Connecticut and • Rhode Island combined • Population of 1.1 million • Five metropolitan areas • >100,000 people

  4. NCER Strategies to Grow Our Economy • Provide Resources/Advocacy for Transportation • Retain/Expand Existing Industry • Emphasize Business Cluster Marketing - Recruitment • Expand Adult Education Programs/Facilities • Create Regional Marketing Brand • Cultivate Entrepreneurship

  5. 2011 Industry Clusters

  6. NCER Target Sectors (Clusters) • Existing Clusters – • Traditional Industries • Military (defense) • Marine Trades • Tourism/Retiree Attraction • Value-added Agriculture • Energy and biofuels (emerging subsector) • Food Processing • Forest/wood products (pellets/building products) • Emerging Clusters – • Advanced Manufacturing • Aviation/Aerospace • Automotive parts, industrial machinery • Life Science • BioPharma R&D, manufacturing • Medical Devices, R&D, mfg. • Healthcare

  7. Mission Promote Regional Economic Diversity • Stimulate Growth: • Complement local efforts • Business Recruitment • Business Expansion (export-oriented firms) • Entrepreneurship • Tourism • Expand Capacity: • Grants and loans • Workforce Development • Research • Partnerships • Develop New Assets • Infrastructure

  8. U.S. Exports & Imports (Goods) In $Millions Source: Census, World Almanac 2009 & U.S. BEA 2010

  9. Export Customers of the Future By 2020 80% of the middle income consumers in the world will live outside the “developed” countries Source: Adler-Miller-McCune 2008

  10. U.S. Foreign Direct Investment In $ Billions Source: BEA

  11. Foreign Direct Investment in U.S. In $ Billions Top Region: South Top Sector: Manufacturing Source: Southern Business & Development, Summer 2011

  12. FDI in NCER • 1995: no Japanese companies recruited to region. By 2010, eight companies had invested over $250 million and employ approximately 1200 workers (excluding Bridgestone/Firestone - an acquisition – which employs over 1000). • Today: 40 foreign companies from 16 different countries have created thousands of high-wage jobs.

  13. FDI in NCER Australia Germany Belgium Canada France Italy Ireland Japan India Korea Mexico Sweden Netherlands Switzerland United Kingdom Taiwan

  14. FDI in NCER – Latest arrival • Canadian owned, Sprit AeroSystems (Wichita, KS) • Invested over ¼ billion dollars and employs about 300 workers building components for Airbus and Gulfstream for export to EU & ME • Global company with facilities in Europe, Asia, and North America • Kinston engineering center populated by multi-nationals • 1050 employees by 2015

  15. Keep Exporting Exporting is key to increasing profits, growing our economy, and improving wages for American workers. The services to help your company grow are most likely available at no or very little cost to you. Thanks for your contribution. www.nceast.org

  16. John D. Chaffee President & CEO, North Carolina’s Eastern Region Chaffee@nceast.org www.nceast.org

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