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Opportunities in the Central US : Looking beyond the Coasts

Opportunities in the Central US : Looking beyond the Coasts. Explore Export Tour, Coventry. Colette Buscemi , Head of Trade and Investment, Chicago Gray Hancock, Head of Trade and Investment, Houston June 29, 2011. UKTI – US Network. Overview of UKTI US Network US/UK Trade Links

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Opportunities in the Central US : Looking beyond the Coasts

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  1. Opportunities in the Central US : Looking beyond the Coasts Explore Export Tour, Coventry Colette Buscemi, Head of Trade and Investment, Chicago Gray Hancock, Head of Trade and Investment, Houston June 29, 2011

  2. UKTI – US Network • Overview of UKTI US Network • US/UK Trade Links • Houston • IV. Chicago • a) Economic Overview • b) Sector Opportunities • V. Tom Thorelli

  3. Gray Hancock, Head of Trade and Investment • US national, born in Houston, Texas • Founding employee of a non-profit technology incubator • Private consultant for early-stage technology companies • First stint with UKTI in 2006 as Trade and Investment Officer • Setup satellite office in Austin for UKTI in 2007 • 2008-2010 ran operations for early-stage Biotech company • August 2010 returned to UKTI to run the Houston office

  4. UKTI – US Network • US is the largest UKTI overseas network • Over 120 UKTI staff - 95% ‘locally engaged’ – experienced/market & sector knowledge • 9 offices in regional markets: • East Coast: Boston; New York City; Washington DC, Miami • Central: Chicago, Houston, Atlanta • West Coast: Los Angeles, San Francisco • Sector leads in each Post, covering a range of sectors.

  5. UKTI – US is the largest network

  6. The US is the UK’s largest trading partner • The US is the UK’s single largest export market and the number one investor in the UK • In 2010 total trade between the US and UK was £62.8 billion • £30.69 billion in US imports • £32.13 billion in UK exports • US investors are responsible for about 1,000,000 UK jobs and the UK is responsible for about 1,000,000 US jobs • Last year UKTI provided services to 3,000 UK firms looking to enter the US market and supported 190 US companies in setting up in the UK

  7. UKTI – HOUSTON • Houston Office • Covers Texas, Oklahoma, Arkansas, Louisiana, New Mexico • 6 teams of officers and associates • Industries covered: Oil and Gas, Renewables, Nuclear, Life Science, Financial Services, ICT, Food and Drink/Retail

  8. UKTI – Why are we in Texas? • Texas is the 2nd largest economy in the nation and 15th largest in the world by GDP at £706.8 billion (equivalent to Russia) • More Fortune 500 company HQ’s than any other state* • Home to 3 of the top 10 largest cities in the U.S. • Houston - #4 (2.1 million) • San Antonio - #7 (1.3 million) • Dallas - #9 (1.2 million) *Fortune 500 magazine, 2010

  9. Exports account for 27% of UK GDP • In 2010, Texas ranked 1st among the US states importing products from the UK, £3.49 billion • The UK is the 8th largest destination for Texan exports, importing just over £2.04 billion in 2010

  10. Recent example of UKTI-Houston’s work • Lindapter International • UK manufacturer of steelwork clamping systems • Interested in securing a distributor in the U.S. and seeking general market intelligence • Commissioned UKTI’s help through our Overseas Market Introduction Service (OMIS)

  11. Recent example of UKTI-Houston’s work • Results of OMIS • UKTI identified and contacted 13 distributors on Lindapters behalf and supplied a market research report on the size of the oil and gas sector in our patch • 4 distributors interested in meeting with Lindapter identified • Lindapter visited Texas in early April and successfully signed a distribution agreement

  12. Recent example of UKTI-Houston’s work • “The UKTI OMIS service is very effective and good value for money and we would recommend it to any British company and especially one that wishes to develop business in Texas or any other state in the USA.” • -- Philip Toczek C.Eng.MBA, Export Sales Manager • Lindapter International

  13. UKTI in CHICAGO UKTI in Chicago supports 14 states: Illinois, Indiana, Michigan, Ohio, Kentucky, Wisconsin, Minnesota, Iowa, Missouri, North Dakota, South Dakota, Nebraska, Kansas, and Colorado

  14. MISPERCEPTIONS….

  15. ‘The Rust Belt’

  16. ‘Bread Basket of America…which is true’

  17. Midwest Economy • Traditionally, Midwest industries have focused • their economic development in: • Producing and Exporting Machinery • Chemical Manufacturing • Transportation Equipment • Agriculture • Food Products *Fortune 500 magazine, 2010

  18. REALITY……..

  19. GLOBAL CHICAGO & THE MIDWEST

  20. Midwest Economic Overview • 22% of US GDP ($13.3T) • Economy = in size to Western Europe • If a separate country, would be 5th largest economy based on GDP • Population - 75.2m = 25% of US pop • 144 Fortune 500 company HQ’s – of which 52% have a presence in the UK. *Fortune 500 magazine, 2010

  21. MIDWEST - LEADING COMPANIES

  22. UK Trade & Investment in Midwest

  23. UK Trade & Investment in Midwest • Opportunity!

  24. SECTOR FOCUS • 6 Priority Sectors • Advanced Engineering (Automotive & Aerospace) • ICT • Life Sciences • Financial Professional Services • Energy/Environment • Food & Drink

  25. OPPORTUNITIES FOR UK Automotive COMPANIES IN THE MIDWEST • Key Facts: Total US Vehicle Sales approx 10.5 million vehicles; • ▪▪ Over 200 million vehicles on US roads • ▪▪ Over 120,000 automotive supplier manufacturing locations • ▪▪ Automotive suppliers account for sales over $200bn • 2) The US automotive industry is more low carbon technology - with opportunity for UK companies. Interest in development of alternative fuel vehicles, particularly hybrid • and electric vehicles. Typical supply chains are changing and this presents opportunity for UK expertise in low carbon technologies.

  26. OPPORTUNITIES FOR UK Aerospace COMPANIES IN THE MIDWEST • Unmanned Aerial Vehicles • Lean manufacturing • Composite Materials • ATTENDANCE at the Paris Airshow

  27. OPPORTUNITIES FOR UK ICT COMPANIES IN THE MIDWEST • Technologies for the Automotive & Aerospace • Healthcare IT • RFID/Photonics • Financial Services Technologies • 4G World Mission in October 2011

  28. OPPORTUNITIES FOR UK ICT COMPANIES IN THE MIDWEST • CASE STUDY- 4G WORLD MISSION – October 2010 • Chicago 2010 Largest trade show covering 4G ecosystem (Network Infrastructure, Advanced Devices, Applications, Content) • Part of UKTI Strategy for Future Telecoms Opportunities • Companies able to exhibit on UK stand at the trade show • Mission members featured in a brochure highlighting UK expertise in 4G technologies • UK reception hosted by the Consul-General at the residence • Mission members met with Motorola • 2010 mission featured 5 UK companies and generated over £1.6M of business for mission members

  29. OPPORTUNITIES FOR UK LIFE SCIENCE COMPANIES IN THE MIDWEST • Centre of the US orthopaedics industry, owing to the presence of such companies as Stryker, Zimmer and DePuy. • Animal health industry, which represents a market worth $19 billion. • 3) MISSION FOR RSNA 2011RSNA 2011: Medical Imaging Mission to the USA

  30. SECTOR: BUSINESS & FINANCIAL SERVICES • 2nd largest financial and business services centre serving a wide range of regional markets & industries; • Despite downturn, Chicago continues to advance as a global hub for professional and financial services. GE Capital recently announced bringing an additional 1000 jobs 3) Derivatives entrepreneurs – companies that provide ancillary services such as compliance, IT, commercial real-estate. Financial and Professional services firms that specialise in business risk management products, trading tools, books and exchange and technology products. Law firms that act for US proprietary trading firms, broker dealers, fund managers and other wholesale firms

  31. OPPORTUNITIES FOR UK Energy/Environment COMPANIES IN THE MIDWEST • Agri-Energy – Intersection of agriculture and energy in the Midwest; major industry players. Includes biofuels, wind power, waste to energy, food & packaging • Environmental technologies – chemicals, land remediation, water purification, waste to energy • Power and Transmission – grid build-out and update, energy efficiency, smart grid, metering and servicing • EVENTS: Wind Power; Green Build; Missions around wind considered for 2011;

  32. How we can help you…. • Tailored market research reports identifying opportunities, customers, partners, competitors, industry trends, trade shows, etc, in the Midwest region. • Identifying relevant contacts with potential customers, including assessment of interest in the UK company and current technology needs. • Plan and host receptions for UK companies to launch products in the US. Targeted audience generation for reception and use of Consulate facilities. • Organise missions for UK companies to relevant trade shows in the region and to meet with appropriate companies, industry associations, resellers, etc.

  33. Thank you. Colette Buscemi Head of Trade and Investment – Midwest Colette.Buscemi@fco.gov.uk +1 312 970 3845 http://ukinusa.fco.gov.uk/chicago

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