international business the impact on economy & jobs

international business the impact on Colorados economy & jobsInternational Business & U February 28, 2013

International Trade Benefit to CommunitiesINTERNATIONAL TRADE IS AN ECONOMIC DEVELOPMENT TOOL THAT CREATES & RETAINS GOOD JOBS AND HELPS COMPANIES AND COMMUNITIES COMPETE GLOBALLY

Brings NEW Money Into Economy Delivers Economic Growth and Jobs Drives Competitiveness, Productivity, and Innovation

Colorados exports The Good NewsExports from Colorado are up nearly 11.3% over last year at this timeCompared to the U.S. where growth rate is 4.5%Service Exports are up as well and CO is among the nations strongest

Colorados exports The Bad NewsColorado 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 StatesOnly 1% of U.S. companies are exportingOut of those companies, 60% are exporting to only one marketJobs Created by Colorado ExportsU.S. Department of Commerces formula $165,000 of exports = 1 highly skilled job(18% higher salary than domestic manufacturing jobs, per International Trade Administration) Colorado Export Performance201020112012Products$6.7 Billion$7.37 Billion$8.1 BillionServices**$6.0 Billion$6.6 Billion$7.1 BillionJobs**76,90084,60092,121# Companies Exporting4494** Estimated

Colorados Top Export Products (2012)Source: WiserTRADE, CENSUS Bureau

RankDescriptionIndustry 20122011-20121Industrial Machinery, Including ComputersTechnology$1.6 Billion38%2Optic, Photo, Medical & Surgical InstrumentsBioscience$1.4 Billion9%3Electric Machinery, Sound & TV EquipmentTechnology$1.1 Billion3%4MeatAgriculture$887 Million11%5Photographic or Cinematography GoodsTechnology$281 Million8%6Articles of Iron or SteelInfrastructure$212 Million23%7Mineral Fuel, Oil, Mineral WaxNatural Resources$211 Million33%8Rawhides and SkinsAgriculture$209 Million(9%)9Aircraft, Spacecraft and PartsAerospace$178 Million(17%)10PlasticsManufacturing$174 Million(5%)$8.16 Billion11.3%Colorado Exports to top markets (out of 210 total)

SERVICE EXPORTS International TouristsTop Countries Sending Visitors to Colorado (by Volume)Canada 6) Japan Mexico 7) Brazil3) U.K & Ireland 8) Italy4) Germany, Austria, Switzerland 9) Spain5) France & Belgium 10) AustraliaSERVICE EXPORT: EDUCATIONInternational Students increased 9.8% in 2012 over 20118,445 International Students Studying in ColoradoEstimated Student Expenditures = $253.5 M in 2011-12

CountryTotal %China25%Saudi Arabia13.7%India8.9%South Korea5.1%Top Institutions for International Student EnrollmentUniversity of Colorado at BoulderUniversity of DenverColorado State UniversityUniversity of Colorado at DenverUniversity of Northern ColoradoExamples of Colorado exporters

COLORADOs IMPORTS The whole storyImports are up 8%, at $12,65 B

Top Imports:Mineral FuelIndustrial Machinery, Including ComputersElectronicsOptical/Medical Equipment

Colorados trade imbalance is $4,48 M

5) Pharmaceuticals6) Vehicles7) Furniture8) Items Made of Iron/Steel9) Aircraft10) Plastics

Colorados Top import marketsCountry$ ImportsTop Product ImportedCanada4.45BCrude OilChina1.86BTV Cameras and RecordersMexico1.09BData Processing MachinesGermany591MGenerators Switzerland542MMedical EquipmentIndia377MPharmaceuticalsAustralia355MHearing Aids, Prosthetic LimbsItaly354MCarsUK249MIndustrial MachineryKorea230MElectronic Circuit BoardsTotal12.65BExamples of Colorado importers

Colorado firms with global operations

Foreign Direct Investment in ColoradoNationalColoradoCo RankJobs5.3 Million79,00025Gross Property, Plant & Equipment$1.3 Trillion*Estimated$30 Billion15Commercial Property$162 Billion$2.6 Billion19

U.S. Trade Policy initiativesNational Export InitiativeEncourage more domestic manufacturing (insourcing)Freer-floating exchange rates abroad, particularly for ChinaEU-US Free Trade AgreementTrans Pacific Partnership

Direct Flights Impacting Trade

Veracruz, MexicoSao Paulo, BrazilNew York, NYEstimated completion date, 2014

Bahrain20World Trade Center DenverInformEducateAdvocateConnectEstablished 1987Member-based organizationPrivately fundedPartnership-focusedRocky Mountain World Trade Center Institute

Benefits to MembershipWorldwide Expansive NetworkWorld Trade Centers Association - 330 centers, 100 countries, 1 million affiliated companiesReciprocal Services - WTC Club, e-commerce, tenant services, office and conference facilitates overseas, group trade missionsWorld-Class Educational ProgramsWeekly Newsletters, UpdatesTrade ServicesOnline Member-only Benefits Databases, Deals, Extended DirectoryExport Documents Certificates of Origin and Free SaleNetworking Opportunities, Programs, & Events22World Trade Day 40th AnnualPlug into the Global Economy How Technology Impacts Trade

May 16, 2013

$75 with student membership$100 for non-members with student ID

Internship BENEFITS

WTC Denver Network

Hand-on Experience

Educational Training

International Business

Multi-Cultural Work Environment

World Trade Center Denver 303-592-5760 www.wtcdenver.orgColorado International Trade Office 303-892-3850 www.colorado.gov/tradeColorado Department of Agriculture 303-239-4118 www.coloradoagriculture.comU.S. Export Assistance Center 303-844-6623 www.export.gov

Contact Your Local Resources for HelpContact Uswww.wtcdenver.org(303) 5925760