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international business the impact on Colorado’s economy & jobs

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

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international business the impact on Colorado’s economy & jobs

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  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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