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NE WI Global Trade Strategy

NE WI Global Trade Strategy. APA-WI March 1, 2012. Introductions. Rich Heath, Bay Lake RPC Tom Baron, East Central WI RPC Dave Thiel, Waupaca County Economic Development Corporation. Outline of Presentation. Export Facts Project Overview Process Findings Implementation. Export Facts.

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NE WI Global Trade Strategy

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  1. NE WI Global Trade Strategy APA-WI March 1, 2012

  2. Introductions • Rich Heath, Bay Lake RPC • Tom Baron, East Central WI RPC • Dave Thiel, Waupaca County Economic Development Corporation

  3. Outline of Presentation • Export Facts • Project Overview • Process • Findings • Implementation

  4. Export Facts

  5. 70% of consumers are outside the United States

  6. Exports Support Jobs for Wisconsin's Workers • Export-supported jobs linked to manufacturing account for an estimated 6.5 percent of Wisconsin's total private-sector employment. Nearly one-fifth (19.4 percent) of all manufacturing workers in Wisconsin depend on exports for their jobs (2009 data latest available). Exports Sustain Thousands of Wisconsin Businesses • A total of 6,473 companies exported from Wisconsin locations in 2009. Of those, 5,677 (88 percent) were small and medium-sized enterprises with fewer than 500 employees. • Small and medium-sized firms generated over one-quarter (26 percent) of Wisconsin's total exports of merchandise in 2009. Source: www.trade.govWisconsin: Exports, Jobs, and Foreign Investment

  7. Project Overview

  8. Project Goal • Increase exports for small to medium size companies in NE Wisconsin

  9. Project Region • 18 County Region • East Central & Bay Lake RPC regions • Federal Economic Development Districts • New North’s region

  10. Project Administration Funding • Economic Development Administration (EDA) Community Trade Adjustment Assistance Grant (CTAA) • East Central & Bay Lake RPC match Timeline • “Official” start March, 2011 • Completion March, 2012 Consultant Selection • Unique project that has not been attempted before

  11. Process

  12. Core Team • Rich Heath, Executive Director with Bay Lake RPC • Tom Baron, Associate Planner with East Central WI RPC • Dave Thiel, Executive Director with Waupaca County Economic Development Corporation • Paul Hampton, Managing Director with Newmark Knight, Frank Stakeholder Committee • 15 member mix of public, private, education, and infrastructure professionals

  13. A. Situational Analysis for Global Trade • What industry clusters drive export activity and regional economic growth? • What is the foreign trade output out of each cluster identified? • What is the condition of export resources and physical infrastructure in NE WI?

  14. B. Global Market Research • Analyzing and benchmarking industry clusters • Frame potential growth in global trade • Understand overseas locations that represent market opportunities • Analyzing world markets • Using interviews and local data gathering to verify identified market opportunities in the following areas of the world- Middle East and Asia, Europe, South America, and Canada

  15. C. Global Trade Survey of Companies • Identify gaps that businesses need to fill to export • Uncover real and perceived barriers that prevent small to medium size businesses from exporting • Understand which industry clusters will have most success

  16. D. Conduct a Needs Analysis for Strategic Global Trade Assistance • Conduct business interviews • Conduct organizational capacity interviews • Develop an implementation plan based on findings

  17. E. Develop a written report • EDA requirement • Will focus on goals and implementation • Research will be part of appendix

  18. Findings

  19. Industry Clusters in NE Wisconsin that have immediate export potential • Aerospace Manufacturing • Agricultural Equipment Manufacturing • Chemical Manufacturing • Food Manufacturing

  20. Areas of the world to export for identified Industry Clusters • Eastern Europe • Southeast Asia • Columbia • China

  21. There are adequate resources and physical infrastructure to facilitate an increase in exports • Resources • Professional services • Brokers • Freight Forwarders • Physical Infrastructure • Ports • Rail • Roads • Airports

  22. Business Survey and Interview results • Barriers identified • Lack of knowledge about exporting • Companies believe it is very costly to export • Companies believe they have limited goods/services to export • Need to have sales staff in foreign countries • Concerns about shipping and payments • Potential • Current exports focus on Canada and Mexico • Low amount of export sales means there are areas for strong growth • Survey indicates companies have interest in learning more about exporting

  23. Organizational Capacity exists • Education and Training • Business and Manufacturing Associations • Government Assistance

  24. Local Economic Developers need export training • They need basic education before they engage in export discussions • There is not a need to become export experts, but to have basic understanding and to know where to refer inquires

  25. Implementation

  26. Global Trade Task Force • Need a group to embrace and take ownership of global trade in NE Wisconsin

  27. Goal #1 Increase capacity of economic development professionals to better assist companies seeking to expand into global markets. Goal #2 Develop a strategy framework to identify, prioritize and engage companies that could benefit from services aimed at encouraging global trade. Goal #3 Track, document and publicize impact of the global trade outreach initiative.

  28. Goal #1 Increase capacity of economic development professionals to better assist companies seeking to expand into global markets. 1.1: Incorporate all local economic development professionals in the process of unveiling this strategy. Immediate: within one year | Short-Term: 1-2 yrs. | Mid-Term 3-4 yrs. | Long-Term: 4+

  29. Goal #1 Increase capacity of economic development professionals to better assist companies seeking to expand into global markets. 1.2: Centralize primary expertise in the region so local developers have a consistent source of information and answers. Immediate: within one year | Short-Term: 1-2 yrs. | Mid-Term 3-4 yrs. | Long-Term: 4+

  30. Goal #1 Increase capacity of economic development professionals to better assist companies seeking to expand into global markets. 1.3: Develop a comprehensive database of existing services offered to businesses seeking assistance with engaging in global trade. Immediate: within one year | Short-Term: 1-2 yrs. | Mid-Term 3-4 yrs. | Long-Term: 4+

  31. Goal #1 Increase capacity of economic development professionals to better assist companies seeking to expand into global markets. 1.4: Make educational resources accessible to time and resource constrained local economic developers. Immediate: within one year | Short-Term: 1-2 yrs. | Mid-Term 3-4 yrs. | Long-Term: 4+

  32. Goal #2 Develop a strategy framework to identify, prioritize and engage companies that could benefit from services aimed at encouraging global trade. 2.1: Create a database of companies and their relationship to international trade. . Immediate: within one year | Short-Term: 1-2 yrs. | Mid-Term 3-4 yrs. | Long-Term: 4+

  33. Goal #2 Develop a strategy framework to identify, prioritize and engage companies that could benefit from services aimed at encouraging global trade. 2.2: First priority businesses should be those that are most likely to provide short-term successes. . Immediate: within one year | Short-Term: 1-2 yrs. | Mid-Term 3-4 yrs. | Long-Term: 4+

  34. Goal #2 Develop a strategy framework to identify, prioritize and engage companies that could benefit from services aimed at encouraging global trade. 2.3: Long-term, focus resources on companies with the biggest potential impact on the local economy. . Immediate: within one year | Short-Term: 1-2 yrs. | Mid-Term 3-4 yrs. | Long-Term: 4+

  35. Goal #3 Monitor the effectiveness of the global trade initiative. 3.1: Utilize standard metrics to measure success. Immediate: within one year | Short-Term: 1-2 yrs. | Mid-Term 3-4 yrs. | Long-Term: 4+

  36. Goal #3 Monitor the effectiveness of the global trade initiative. 3.2: Integrate local and regional tracking. Immediate: within one year | Short-Term: 1-2 yrs. | Mid-Term 3-4 yrs. | Long-Term: 4+

  37. Goal #3 Monitor the effectiveness of the global trade initiative. 3.3: Develop consistent reporting techniques to publicize the initiative. Immediate: within one year | Short-Term: 1-2 yrs. | Mid-Term 3-4 yrs. | Long-Term: 4+

  38. What we learned • Staff change • Business Surveys • Shift in focus • Importance of having local economic development professional on core team

  39. Thank you!!!

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