Tradeology, the ITA Blog

During a panel discussion titled “A Regional Conversation on International Trade and Economic Development,” EDA’s Deputy Assistant Secretary (DAS) Matt Erskine and ITA’s U.S. Export Assistance (USEAC) Director Greg Thompson joined DRA Chairman Chris Masingill, Mayor of Gretna, Louisiana Belinda Constant, as well as representatives from International Commerce and the Port of New Orleans to discuss how economic development efforts can spur international trade.

This post originally appeared on the Department of Commerce blog.

Ten years ago, Hurricane Katrina devastated the Gulf Coast.  More than 1,200 people died tragically, and property damage is estimated to have been more than $108 billion. In the ten years since the flood waters subsided, the people of the Gulf Region have demonstrated incredible resiliency and a strong will to restore the area to the vibrant, bustling community it was before the storms hit. That meant not only repairing the physical damage left by the storm, but working to repair the economic havoc the storm wreaked. The U.S. Department of Commerce’s International Trade Administration (ITA) and Economic Development Administration (EDA) are proud to be partners in those efforts.

Over the last decade, EDA has invested more than $32 million, and in the immediate aftermath of the storm, invested nearly $10 million in seven separate projects throughout the region, including supporting strategic capacity rebuilding and counseling for affected small business owners. More than 40 ITA Commercial Service employees volunteered to help in the Gulf immediately following the storm, turning a Trade Information Center into a call center for affected businesses. The volunteers worked proactively with state and local officials to develop export seminars, trade missions, and other business promotion programs.

Both ITA and EDA have continued to support efforts in the Gulf during the past decade. EDA’s Deputy Assistant Secretary (DAS) Matt Erskine and ITA’s U.S. Export Assistance (USEAC) Director Greg Thompson participated in a series of events coordinated by the Delta Regional Authority (DRA) to discuss ways to promote trade and bolster economic resiliency. During a panel discussion titled“A Regional Conversation on International Trade and Economic Development,” Erskine and Thompson joined DRA Chairman Chris Masingill, Mayor of Gretna, Louisiana Belinda Constant, as well as representatives from International Commerce and the Port of New Orleans to discuss how economic development efforts can spur international trade.

This post originally appeared on the Department of Commerce blog.

Secretary of Commerce Penny Pritzker joined U.S. and Mexican government leaders in Brownsville, Texas, at a ceremony to inaugurate the West Rail Bypass International Bridge, the first new international rail crossing between the United States and Mexico since 1910.

During her remarks, Secretary Pritzker highlighted the deep and growing commercial partnership between our two countries; the vital importance of the U.S.-Mexico border to our bilateral economic ties; and the need for action to spur North American competitiveness in the increasingly globalized economy of the 21st century.

Secretary Pritzker noted how the implementation of the North American Free Trade Agreement (NAFTA) has led to the creation of jobs and opportunity for both U.S. and Mexican communities. Yet, at the same time, our commercial crossings at the border were not modernized after NAFTA came into force, leaving us with infrastructure that was built to handle roughly a quarter of our current trade volume.

To address these challenges and to ensure that our border region remains a staging ground for greater commercial and economic activity long into the future, Secretary Pritzker and her U.S. and Mexican partners have pledged to make the West Rail Bypass only one part of a long-term, concerted effort to replace outdated infrastructure and continue to develop a modern, efficient, and secure border. Because, as the Secretary stated, “we cannot wait another 100 years before we inaugurate the next new bridge or road connecting our countries.”

To that end, we are prioritizing the development and execution of border infrastructure projects as part of the U.S.-Mexico High Level Economic Dialogue (HLED). So far, in addition to the West Rail, we have seen some progress. For example, we have reduced wait times from 3 hours to roughly 30 minutes at the port of entry between San Diego and Tijuana, the busiest land crossing in the world. And we more than doubled the capacity at the Nogales-Mariposa port of entry; now, that facility can handle trucks as many as 4,000 a day – up from about 1,600 – and process up to $35 billion in goods each year.

This is only the beginning. Our focus on infrastructure will continue long into the future, as we seek to advance the vision of the HLED: to support a vibrant, competitive North American economy, and to make it easier for U.S. and Mexican companies to do business together.

Before the West Rail event, Secretary Pritzker met with a delegation of business leaders from Brownsville to discuss how the city can capitalize on its strategic location and leverage Department of Commerce resources to spur new economic growth and opportunities for local workers and families.

Cody Dietrich works in the Strategic Partnerships Office at the International Trade Administration

FirstMerit & ITA celebrate new partnership agreement.

The International Trade Administration (ITA)  recently signed a Strategic Partnership agreement with FirstMerit Bank at FirstMerit’s headquarters in Akron, Ohio .

This agreement was made possible through ITA’s Strategic Partnership Program, designed to collaborate with private corporations, trade associations, chambers of commerce, economic development organizations and educational institutions to create a force multiplier effect—increasing our marketing channels, industry expertise, logistical capabilities, and, ultimately, our value in bringing more U.S. companies the assistance they need to grow their exports. Working cooperatively, ITA and partners conduct outreach activities to the U.S. small to medium sized business community and international buyers about ITA programs and services to help them grow international sales.

Here at ITA, we knew FirstMerit’s programs and services could be a crucial resource for businesses looking to go global. FirstMerit’s International Banking Division helps U.S. businesses compete in global markets by providing export financing services. These services include letters of credit, documentary collections, foreign exchange advisory and payments services and U.S. government-guaranteed working capital loan programs.

FirstMerit will work with ITA on programs covering exporting trends, geographic information and industry-specific intelligence.

The Strategic Partnership was signed at FirstMerit’s headquarters in Akron, Ohio. “We are pleased to be recognized by the Department of Commerce as a financial resource partner for Midwest businesses currently exporting or looking to export their goods around the world,” Paul G. Greig, chairman, president and CEO of FirstMerit.  FirstMerit’s expertise in helping small businesses tap into export potential will further ITA’s goals of strengthening the competitiveness of U.S. industry and expand access to export financing.

This post originally appeared on the Department of Commerce blog.

Earlier this week, Deputy Secretary Bruce Andrews traveled to Pittsburgh to engage with the city’s up-and-coming entrepreneurs and see how the Steel City has become an innovation hub by bringing together its research institutions, incubator and accelerator partners, and technology associations.

This post contains external links. Please review our external linking policy.

This is a guest blog by Barbara Kasoff, President and Co-founder of Women Impacting Public Policy.

Kristie Arslan, Executive Director of WIPP and Assistant Secretary Marcus Jadotte signs partnership agreement.

Earlier today, Women Impacting Public Policy (WIPP) joined Assistant Secretary Jadotte at the U.S. Department of Commerce to announce a new partnership to increase awareness about exporting in the U.S. business community. Women Impacting Public Policy’s (WIPP) new strategic partnership with Commerce’s International Trade Administration (ITA) will focus on providing education and resources to help small- and medium-sized women-owned businesses succeed in the global marketplace.

Signed this morning, the Memorandum of Agreement explains that, ITA and WIPP will work together on marketing, education programs, and events leveraging our organizations’ expertise to help make U.S. businesses more export savvy. WIPP recently developed Export NOW, a step-by-step program which guides participants — current and new exporters — through the steps to enter new growing markets or to expand their export reach. We’ll also partner with ITA on our Export Now program. Joint activities may include building awareness through outreach at trade shows, collaborative press and digital communications, and online registration for resource support.

As the U.S. marketplace becomes more competitive than ever, it is crucial for businesses — particularly small- and medium-sized businesses — to engage a broader international market for success. WIPP firmly believes that the products and services provided by women-owned businesses belong not just in American hands, but should reach every consumer around the globe. As a leader in educating businesses on ways to build, develop, and expand their companies, WIPP is perfectly positioned to work in concert with ITA to aid women-owned firms in growing their footprint in the global marketplace via export opportunities.

In 2014, U.S. Secretary of Commerce Penny Pritzker announced the National Export Initiative/NEXT (NEI/NEXT), an expanded and revitalized U.S. export strategy. NEI/NEXT focuses on supporting U.S. businesses of all sizes and economic growth in American communities by making it easier for U.S. companies to access export resources and capitalize on growth opportunities around the world. Our partnership with ITA supports this initiative by educating U.S. women-owned businesses about the benefits of exporting and expanding their exports to additional markets. Companies will learn about public and private sector resources to assist them in going global. WIPP joins several of ITA’s Strategic Partners who have connected more than 1,500 companies to federal export assistance to broaden and deepen the U.S. exporter base.

This post contains external links. Please review our external linking policy.

Jillian Doody is the International Trade Administration’s Director of Strategic Partnerships.  

Assistant Secretary of Commerce for Industry and Analysis Marcus Jadotte (right) and American Express Vice President of Business Development for Middle Market Southeast Franki Lupo Schmidt announce partnership to help increase trade education and awareness of export opportunities for U.S. businesses.

Earlier today, Assistant Secretary Jadotte joined American Express Vice President of Business Development for Middle Market Southeast Franki Lupo Schmidt to announce a new partnership to help increase trade education and awareness of export opportunities for U.S. businesses. During the ceremony in Atlanta, Jadotte and Schmidt signed a memorandum of agreement (MOA) between the U.S. Department of Commerce’s International Trade Administration (ITA) and American Express (AmEx).

The joint effort will focus on small- and medium-sized enterprises (SMEs) and AmEx’s Grow Global program which targets middle market businesses – those generating between $10 million and $1 billion in revenues annually.

The MOA was signed during AmEx’s Grow Global kick-off event. During the kick-off, businesses heard from top industry experts and met one-on-one with agents, distributors, government and industry officials, and other business leaders who are already successfully exporting their goods and services to markets around the world.

Last month, American Express announced the launch of Grow Global at ITA’s Discover Global Markets event in Miami. AmEx’s program is designed for companies that are considering exporting as a growth opportunity, as well as business that are currently expanding their business into markets outside the United States with the goal of increasing goods and services exports to international markets.

As a part of our partnership, ITA and AmEx will work together to increase awareness of the economic benefits of trade; educate U.S. business about exporting as a job creation and growth strategy; generate awareness of ITA and U.S. government resources; and encourage businesses to seek ITA assistance.

With 96 percent of the potential consumers for U.S. goods and services living outside of the United States, ITA has a critical role in helping U.S. companies be more competitive in the global marketplace. In 2013, 59 percent of all small and medium-sized exporters posted sales to only one foreign market. Increasing the number of markets, even by a small percentage, could have a big impact on the U.S. economy, and create more jobs in communities across the country.

One way ITA helps increase the number of markets our clients export to is by partnering with companies like American Express. Our Strategic Partnership Program leverages partnerships with trade associations, private corporations, chambers of commerce, and state and local governments to broaden and deepen the U.S. exporter base. Through these innovative public-private partnerships, the U.S. Department of Commerce communicates with millions of U.S. businesses about global business and export opportunities.

Ken Hyatt is the Deputy Under Secretary of Commerce for International Trade.

I say this very often and I mean it every time: This is an incredible time to be working in international trade.

We’ve seen four years of record exports and 1.6 million new U.S. jobs supported by exports since 2009.

To be sure, there are a number of reasons for this growth. We certainly wouldn’t see it if not for the innovative, high-quality goods and services our businesses create.

But a lot of credit also goes to public and private organizations throughout the country that are making it easier for U.S. companies to compete and win in the global marketplace.

I was happy to recently have the opportunity to thank a group of the International Trade Administration’s strategic partners here in Washington D.C. These organizations ranging from private companies to nonprofits and associations are part of a great public-private partnership, committed to supporting U.S. businesses of all sizes as they consider exporting.

Everyone here at the ITA is proud to have such a group of committed partners, and I want to thank them again for what they do.

Outside that group, there are plenty of other organizations working to support trade.

State and local governments are prioritizing global business, from San Francisco’s LatinSF program – promoting opportunities for San Francisco companies in Latin America – to Utah’s office of Economic Development, which just finished a promising trade mission to China and a global forum supporting small businesses.

Then there are economic development groups like Enterprise Florida, which just wrapped up a mission in Singapore and Malaysia, or the Northeastern Pennsylvania Alliance, which just concluded its annual Bringing the World to Northeastern Pennsylvania forum connecting local businesses to global opportunities.

There are countless other nonprofits, private companies, and local/regional governments supporting international trade, and I thank all of them for their efforts. Increasing trade supports jobs, encourages innovation, and brings economic growth to regions throughout the country.

I look forward to working with all of you, and seeing the successes your efforts create for U.S. businesses.

I also invite any organization with a mission of furthering U.S. exports to look into our strategic partnerships program. We would love to officially join forces to support American businesses.