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Boosting Colorado’s Economy Through International Business & Trade Opportunities

Discover how international trade drives economic growth, job creation, and competitiveness in Colorado. Learn about the state’s export performance, top products, import markets, and global operations of local firms.

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Boosting Colorado’s Economy Through International Business & Trade Opportunities

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Presentation Transcript

  1. international business the impact on Colorado’s economy & jobs International Business & U– February 28, 2013

  2. International Trade – Benefit to Communities • INTERNATIONAL TRADE IS AN ECONOMIC DEVELOPMENT TOOL THAT CREATES &RETAINS GOOD JOBS AND HELPS COMPANIES AND COMMUNITIES COMPETEGLOBALLY • BringsNEW Money Into Economy • Delivers Economic GrowthandJobs • DrivesCompetitiveness, Productivity, and Innovation

  3. Colorado’s exports – The Good News • Exports from Colorado are up nearly 11.3% over last year at this time • Compared to the U.S. where growth rate is 4.5% • Service Exports are up as well and CO is among the nation’s strongest

  4. Colorado’s exports – The Bad News • Colorado ranks 36th in exporting out of all U.S. states and territories when considering products exported • THE OPPORTUNITY? • 95% of global market is outside of the United States • Only 1% of U.S. companies are exporting • Out of those companies, 60% are exporting to onlyone market

  5. Jobs Created by Colorado Exports U.S. Department of Commerce’s formula $165,000 of exports = 1 highly skilled job (18% higher salary than domestic manufacturing jobs, per International Trade Administration)

  6. Colorado Export Performance

  7. Colorado’s Top Export Products (2012) Source: WiserTRADE, CENSUS Bureau

  8. Colorado Exports to top markets (out of 210 total)

  9. SERVICE EXPORTS – International Tourists

  10. SERVICE EXPORT: EDUCATION • International Students increased 9.8% in 2012 over 2011 • 8,445 International Students Studying in Colorado • Estimated Student Expenditures = $253.5 M in 2011-12

  11. Examples of Colorado exporters

  12. COLORADO’s IMPORTS – The whole story • Imports are up 8%, at $12,65 B • Top Imports: • Mineral Fuel • Industrial Machinery, Including Computers • Electronics • Optical/Medical Equipment • Colorado’s trade imbalance is $4,48 M • 5) Pharmaceuticals • 6) Vehicles • 7) Furniture • 8) Items Made of Iron/Steel • 9) Aircraft • 10) Plastics

  13. Colorado’s Top import markets

  14. Examples of Colorado importers

  15. Colorado firms with global operations

  16. Foreign Direct Investment in Colorado

  17. U.S. Trade Policy initiatives • National Export Initiative • Encourage more domestic manufacturing (insourcing) • Freer-floating exchange rates abroad, particularly for China • EU-US Free Trade Agreement • Trans Pacific Partnership

  18. Direct Flights Impacting Trade

  19. New York, NY Estimated completion date, 2014 Veracruz, Mexico Bahrain Sao Paulo, Brazil

  20. World Trade Center Denver • Established 1987 • Member-based organization • Privately funded • Partnership-focused • Rocky Mountain World Trade Center Institute

  21. Benefits to Membership • Worldwide Expansive Network World Trade Centers Association - 330 centers, 100 countries, 1 million affiliated companies Reciprocal Services - WTC Club, e-commerce, tenant services, office and conference facilitates overseas, group trade missions • World-Class Educational Programs • Weekly Newsletters, Updates • Trade Services • Online Member-only Benefits – Databases, Deals, Extended Directory • Export Documents – Certificates of Origin and Free Sale • Networking Opportunities, Programs, & Events

  22. World Trade Day – 40th Annual • Plug into the Global Economy – • How Technology Impacts Trade • May 16, 2013 • $75 with student membership • $100 for non-members with student ID

  23. Internship BENEFITS • WTC Denver Network • Hand-on Experience • Educational Training • International Business • Multi-Cultural Work Environment

  24. Contact Your Local Resources for Help • World Trade Center Denver – 303-592-5760 – www.wtcdenver.org • Colorado International Trade Office – 303-892-3850 – www.colorado.gov/trade • Colorado Department of Agriculture – 303-239-4118 – www.coloradoagriculture.com • U.S. Export Assistance Center – 303-844-6623 – www.export.gov

  25. Contact Us www.wtcdenver.org (303) 592–5760

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