Archive for April, 2017

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Acting Director General Judy Reinke Travels to San Antonio to Join a 50-Member Delegation from Across the Americas and to Meet with local District Export Council (DEC) Members

April 7, 2017

Shawn Ricks is a Senior Policy Advisor for CS/Global Markets – Western Hemisphere

Earlier this week, Acting Director General Judy Reinke represented the International Trade Administration(ITA) at the Seventh Americas Competitiveness Exchange on Innovation and Entrepreneurship (ACE VII), which commenced a six-day tour (April 2-7) of the Central Texas region, with stops in San Antonio, New Braunfels, Fredericksburg, San Marcos, College Station, and Austin. ACE VII participants include high-level policy and decision makers from government, business, and academia, representing 25 countries from across the Western Hemisphere, as well as Germany and Israel. And, for the first time ever, the delegation includes as many women as men, fulfilling a continuous goal of the program to achieve a gender balance. DG Reinke addressed the group during the Welcome Ceremony on Monday morning, where she highlighted the benefits of the program, noting the connections ITA has to several of the local sites. She was joined by Ivy Taylor, Mayor of San Antonio, and 9th District Councilmember for San Antonio, John Krier.

people

The ACE program showcases homegrown excellence in cutting-edge technology and strategic economic development. For each leg of the trip, the host city leads visits to innovation hubs, cutting-edge enterprises, and educational and research institutions. ACE VII combines dynamic, interactive panel discussions on advanced manufacturing, bioscience, cybersecurity, rural healthcare, and disaster recovery, with hands on tours of venues exhibiting best practices in those clusters. The ACE also increases access to international markets for U.S. exports. Imaginative programs like the ACE have the potential to offset factors that pose the greatest threat the region’s economic future and helps to foster a business culture that enables traditional industries to keep pace with global trends. To see the full agenda, click here.

While in San Antonio, DG Reinke also joined the Texas Camino Real District Export Council (DEC) for a Roundtable Discussion on the Department of Commerce’s commercial priorities and activities, as well as well as to hear the DEC’s thoughts on the current global business environment and the impact on U.S. companies.

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Professional Football as the Jacksonville Region’s Gateway to Foreign Direct Investment

April 6, 2017

Jerry Mallot is the President of JAXUSA Partnership, Northeast Florida’s regional economic development organization (EDO) based in Jacksonville. Learn more about the organization at JAXUSA.org.  

This post is part of SelectUSA’s EDO Spotlight series, highlighting the work of EDOs around the country recruiting foreign direct investment, how that work supports jobs and economic growth across the United States, and how SelectUSA partners with EDOs to support economic development.

A unique coordination between a National Football League franchise and a regional economic development group is supporting hundreds of U.S. jobs in Northern Florida.

In 2013, Jacksonville Jaguars football team owner Shahid Khan committed the franchise to playing a home game in London every year. We at JAXUSA pounced (like a jaguar, naturally) on what we saw as a great opportunity to leverage the football team’s international outreach for local economic development purposes. In partnership with the Jaguars, JAXUSA launched annual economic development missions to the United Kingdom to help initiate and build long-term relationships with international companies and organizations.

Those missions are already paying off for Jacksonville; here are just a few examples:

  • Greencore, an Ireland-based food-preparation company, established operations in Jacksonville, creating hundreds of jobs in our region. These operations continue to grow.
  • City Refrigeration, based in Scotland, selected Jacksonville for its North American headquarters, creating 110 new Florida jobs. The company operates around the world with more than 12,000 employees and is the largest privately-held facilities management company in the United Kingdom and Australia.
  • Resource Solutions, an international recruiting services firm, opened a global service center in Jacksonville, adding 75 skilled jobs. The London-based company, which provides outsourcing solutions for many of the world’s leading brands, is seeking to grow its operations in the United States. And as the company’s U.S. market share grows, so will its operations in Jacksonville.

Foreign direct investment (FDI) from the U.K. and other global locations is a vital part of the Jacksonville region’s overall development and sustainability strategy. Companies from more than 26 countries call the city home, supporting thousands of jobs in the Jacksonville area. Our investment missions, the dedication of JAXUSA investment specialists, and partnerships with organizations like SelectUSA help Jacksonville continue to grow as a global destination for business.

As for the coordination with the Jacksonville Jaguars? Our NFL-inspired U.K. FDI missions help us tell our story to a larger global audience. These missions help us connect with top company leaders and work toward bringing jobs and economic growth to the Jacksonville region. They also add a higher profile to our presence overseas and open doors to new investment opportunities.

Jacksonville is a competitive player in the global marketplace and as we continue to attract more international companies to our region, we strengthen our attractiveness to companies around the world. But the ultimate (field) goal is always creating jobs through investment that makes a real impact on our communities.

 

 

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Cross Border eCommerce Payment System Strategies

April 5, 2017

James Bledsoe is the Deputy Director of the eCommerce Innovation Lab based out of Tacoma, Washington.

eCommerce isn’t just the future – it is now. eCommerce issues currently shape the way businesses structure and strategize, and will continue to be a primary business factor for the foreseeable future.

The Return on Investment (ROI) for businesses that seriously pursue an eCommerce strategy varies– a business with up to $1 million in annual sales can realistically achieve a median annual sales growth rate of up to 137 percent as a result of its eCommerce efforts alone.

With eCommerce providing such lucrative potential ROI for many businesses, including a person on your team who has an idea of the “what” and “why” of the eCommerce process is essential.

One of the main eCommerce issues companies face, time and time again when handling cross-border eCommerce transactions is the payment process. With credit cards being the most common form of payment associated with these transactions, there are number of factors that can go into ensuring the process is as smooth as possible.

It’s important for businesses to:

  • Develop an understanding of rates and fees associated with card-based transactions;
  • Mitigate fraud risk through use of advanced security tools;
  • Employ a streamlined workflow for handling and fighting chargebacks; and,
  • Select the best payment gateway to ensure compliance and maximize ROI for their industry

To help you and other U.S. exporters to better understand the “what” and “why” of eCommerce payments, the U.S. Commercial Service will host a two-part webinar series titled “Cross Border eCommerce Payment System Strategies” on Tuesday, April 18, and Thursday, April 20, both at 1pm EST.

The webinar is hosted by the U.S. Commercial Service’s Vets Go Global Team and the eCommerce Innovation Lab and led by Ryan King of Guardian Payment Systems.  In Part One (April 18), Ryan will explain the technology behind the payment process – shopping carts vs gateways, along with card rates and strategies to optimize your processing fees.  In Part Two (April 20), Ryan will show you how to work with your funding bank on issues such as chargebacks and risk management, and explore the tools and resources that are different for processing international payments.

Click here to register for Part 1 (Tuesday, April 18, 1pm EST).

Click here to register for Part 2 (Thursday, April 20, 1pm EST).

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