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Advanced Industries Exports Accelerator Act Introduced in House

September 25, 2013 - DENVER – The bipartisan Advanced Industries Exports Accelerator Act was introduced today as House Bill 13-1193 in the Colorado House of Representatives. The legislation will create a comprehensive international export development program for Colorado’s advanced industry businesses that are new to exporting or expanding into new international markets. The bill is sponsored by Reps Tracy Kraft-Tharp (D-Arvada) and Mike McLachlan (D-Durango) and Sens. Cheri Jahn (D-Wheat Ridge) and Ellen Roberts (R-Durango). “Exports are critical to Colorado’s prosperity, fueling economic growth, supporting good jobs at home, bringing new money into the local economy, and driving productivity and innovation,” said Ken Lund, executive director of OEDIT. “This bi-partisan bill will help Colorado’s advanced industry businesses conquer some of the challenges that sometimes occur when branching out to global markets, and ensure that our companies have the right resources to help grow and accelerate their businesses at home and internationally.” HB 1193 is a tool for Colorado’s small and medium-size advanced industry businesses that don’t have the resources needed to engage in international export development. It will provide financial resources, training and consulting services needed to engage in international export development. "In combination with the Advanced Industries Acceleration Act, this bill will make Colorado a major player in the advanced industries, producing high-paying skilled jobs and a strong, sustainable economy," said Rep. Kraft-Tharp. "I'm pleased to be a sponsor of this bill, which will strengthen the economy in my district and across Colorado,” said Rep. McLachlan. “This bill would provide critical assistance to small businesses in Southwest Colorado,” Sen. Roberts said. “This legislation will help our small businesses advance into new markets and make them more competitive in the global economy.” “Colorado is a state with vast ingenuity. When we invest in high-tech businesses, we can expect bountiful returns. Businesses within the advanced industry sectors hire high-tech workers and support workers who aren’t necessarily trained in highly technical fields. That means we can expect more job opportunities for all working families,” said Sen. Jahn. Colorado exported an estimated $7.9 billion to 234 countries in 2012 and Colorado’s manufactured exports and commodities are projected to be $8.4 billion in sales in 2013, an 8% increase. According to the U.S. Department of Commerce, one job is created for every $165,000 in exports, which equates to approximately 50,900 jobs created in Colorado. If you add service export projections to that number, another estimated 56,000 jobs are tied to exporting. “Within the next five years, 87% of the world’s economic growth will take place outside of the U.S., so it is a smart move for Colorado businesses to start exporting their goods and services and expand into global markets,” said Sandi Moilanen, International Trade division director at OEDIT. “We want to help Colorado companies expand their businesses effectively, and HB 1193 will ensure that we can provide the best tools possible.” Advanced Industries Export Accelerator Act Details International Export Expense Reimbursement OEDIT will provide reimbursements to businesses that are new to exporting or expanding into new international markets up to $15,000 with a 1:1 match for specific international export development needs. Events and activities that are eligible and may qualify include obtaining international certifications, attending international trade shows, designing and producing international market marketing materials, and following export compliance audits. Designed to provide flexibility and encourage innovative use of funds to meet the specific international export development needs of Colorado businesses in the advanced industries. Export Training OEDIT will provide export training and acceleration sessions for businesses to learn the fundamentals of exporting and international marketing in the advanced industries. OEDIT will partner with other experts in organizations, such as the Export-Import Bank and Small Business Administration, to develop the infrastructure and curriculum to help those businesses in the advanced industries that want to enter international markets. Global Network Consultation OEDIT will build a network of consultants located in key international markets to provide valuable in-country market research specific to industry needs and individual business needs. The consultants will gain and share local knowledge of international markets, match potential distributors with customers, realize competitive advantages, understand country regulations and processes, and offer translation services. Some funding sources for HB 1193 have been identified, and work on the funding details will continue. The program will be managed out of OEDIT. Read More

"Born Global” Business ─ the New Normal?

August 29, 2013 - DENVER – With 95% of market potential located outside the United States, how can any company ignore global business opportunities today? “Born global” firms, from their inception, seek to maximize competitive advantage by buying and selling goods or services, and utilizing resources in multiple countries. These firms tend to be more entrepreneurial, smaller and more nimble, well-positioned to meet increased demand, and have the ability and management commitment to customize a product for a particular niche market. Most “born global” firms tend to be technical in nature, due to the rapid changing speed of technological advancements, but more consumer products, niche foods, and luxury goods are following suit. This is good news for Colorado, as our top three exports commodities from the state are high-tech (medical equipment, computers and electronics). The most important question to ask yourself, if you are not already exporting and your company is over a year old, is “Why not?” The World Trade Center Denver assists many “born global” start-ups. One member company in northern Colorado, called BellaAg, with just six employees, designed a temperature bolus for dairy cattle allowing ranchers to monitor temperatures throughout the day via a hand-held device. This technology transformed the way dairy farms are running in many complicated markets, such as Saudi Arabia. The company claims the education received through the World Trade Center Denver contributed to their rapid international growth, with 70 percent of their revenues now coming from foreign markets. What factors lead “born global” companies to look outside of our borders from the get go? We hear everything from a saturated domestic market to smoothing out business cycles to climate changes and cultural preferences. Whatever the reason, “born global” companies are becoming the new normal. Companies waiting until they are “mature” enough to start thinking globally, are falling behind. Recently, I was shocked to hear the Secretary of Commerce claim that only one percent of U.S. businesses are exporting today. Out of those companies, 60 percent export to only one market – most likely to Canada - our number one export market double that of our second largest, Mexico. Compare this to Germany, where over 25 percent of companies export. A fear of the unknown may be why most companies don’t pursue global markets today. That is exactly why the World Trade Center Denver has focused on educating companies in the Rocky Mountain Region for the past 25 years on subjects such as “Developing Your Export Strategy,” “Incoterms and Documentation for International Shipping,” “Export and Import Compliance,” “Trade Finance,” and more. Colorado’s exports grew 11 percent over the last year, compared to the U.S. overall growth of only 4.5 percent. Even with this record-breaking growth, Colorado still ranks 35th among states exporting manufactured goods. There is certainly more work to do. We want to foster an environment with more “born global” firms and help those late to the game to change their mindsets. Let us know what keeps you from going global by contacting me at Karen@wtcdenver.org. Karen Gerwitz is the president of the World Trade Center Denver, a non-profit trade association facilitating international business to and from the Rocky Mountain Region and its global network of 340 World Trade Centers in over 100 countries. Read More

WORLD TRADE CENTER DENVER AND MEMBERS RECEIVE THE U.S. PRESIDENT’S “E” AWARD

May 20, 2013 - DENVER – On Monday, May 20, World Trade Center Denver President Karen Gerwitz proudly accepted the President’s “E” Award in Export Service. Gerwitz joined representatives from three WTC Denver member companies—Geotech, Frederick Exports, and Lightning Eliminators—who also were in Washington, DC, to accept the President’s “E” Award in Exports. “We are thrilled that the White House is recognizing great Colorado companies like Geotech, Frederick Exports, and Lightning Eliminators for their achievements in international business,” said Gerwitz. “We hope to continue to serve as a valuable resource to these companies and others in the region that work hard to create jobs and bring distinctive Rocky Mountain goods and services to consumers around the globe.” U.S. organizations are nominated for the “E” Award for Export Service through the Department of Commerce’s U.S. and Foreign Commercial Service office network, located within the Department’s International Trade Administration, which has offices in 108 U.S. cities and more than 70 countries to help U.S. exporters. Criteria for the award is based on four years of successive export growth and case studies which demonstrate valuable support to exporters resulting in increased exports for the company’s clients. President Kennedy revived the World War II “E” symbol of excellence to honor and provide recognition to America's exporters. The “E” Award Program was established by Executive Order 10978 on December 5, 1961. U.S. Acting Secretary of Commerce Rebecca Blank honored a total of 57 U.S. companies—many of whom are small and medium-sized enterprises—with the President’s “E” Award this year, making this year’s winners the largest group of honorees to receive this distinguished award in more than thirty years. Gerwitz recognized fellow winners, Geotech, Frederick Exports, and Lightning Eliminators, at last week’s 40th annual World Trade Day, the region’s premier international business networking event. In addition to hosting World Trade Day each year, the WTC Denver facilitates international trade by educating, serving and connecting businesses in the Rocky Mountain region to the global network of 330 World Trade Centers in 100 countries. With over 250 members locally, the World Trade Center Denver has helped countless local businesses to expand their markets and build strategic partnerships. Read More

ROCKY MOUNTAIN WORLD TRADE CENTER INSTITUTE ACCEPTS NASBITE INTERNATIONAL AWARD

April 15, 2013 - DENVER – On Friday, April 12, the Rocky Mountain World Trade Center Institute accepted the National Association of Small Business International Trade Educators (NASBITE) International’s “Advancing International Trade” award. NASBITE International chose six organizations from different states to receive the award, which was presented at its 26th annual conference in Albuquerque, New Mexico last week. According to NASBITE, the award “recognizes the dedication and service of those that are advancing international trade in each state in the United States as well as Canada and Mexico.” ExIn Global Strategies’ Craig Maginness, former board chairman and president of the World Trade Center Denver, also received high honors on Friday as NASBITE International’s International Trade Educator of the Year. Maginness has been a long-time supporter of the World Trade Center Denver mission and has helped its educational efforts as an event speaker and regular instructor at its international trade courses and workshops. “We are excited to be recognized among such a standout group of international trade organizations and professionals nationwide, and we congratulate our friend, Craig Maginness, for his achievement,” said Karen Gerwitz, executive director of the World Trade Center Denver. “We will continue working hard to educate businesses in the Rocky Mountain region through events, like our annual World Trade Day conference, and through the many valuable resources we provide for our members.” The World Trade Center Denver facilitates international trade by educating, serving and connecting businesses in the Rocky Mountain region to the global network of 330 World Trade Centers in 100 countries. With over 250 members locally, the World Trade Center Denver has helped countless local businesses to expand their markets and build strategic partnerships. As part of its ongoing educational efforts, the World Trade Center is hosting the 40th annual World Trade Day on May 16, at Infinity Park in Glendale, CO. The theme, “Plug In to the Global Economy: How Technology Impacts Trade,” highlights value of technology tools for international trade and business. The event will feature technology demos from major global firms, such as IBM, IHS, Microsoft, and Google, in addition to speakers, including the CIOs of Visa and Ogilvy & Mather Worldwide. To learn more about World Trade Day 2013 or the World Trade Center Denver, visit www.wtcdenver.org. Read More