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Transcript of INTERNATIONAL BUSINESS THE IMPACT ON COLORADOS ECONOMY & JOBS GLOBAL DAY COLORADO – AUGUST 23,...
INTE
RNATIO
NAL
BUSINESS
THE
IMPA
CT ON C
OLORADO’S
ECONOMY
& JOBS
GL O
BA
L DA
Y C
OL O
RA
DO
– A
UG
US
T 2
3,
20
12
INTERNATIONAL BUSINESS FACTORS TO CONSIDERTrade – Exports/Imports
Global Operations
Foreign Direct Investment
Tourism
Education
Direct International Flights
INTERNATIONAL TRADE – BENEFIT TO COMMUNITIESINTERNATIONAL TRADE IS AN ECONOMIC DEVELOPMENT TOOL THAT CREATES JOBS, RETAINS JOBS AND HELPS COMPANIES AND COMMUNITIES COMPETE GLOBALLY
• Brings NEW Money Into Economy • Delivers Economic Growth and Jobs • Drives Competitiveness, Productivity, and
Innovation
COLORADO’S EXPORTS – THE GOOD NEWS• Exports from Colorado are up nearly
12% over last year at this time• Compared to the U.S. where growth
rate is 7%• Service Exports are up as well and
CO is among the nation’s strongest
COLORADO’S EXPORTS – THE BAD NEWS
Colorado ranks 37th in exporting out of all U.S. states and
territories
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 only one market
JOBS CREATED BY COLORADO EXPORTS
U.S. Department of Commerce’s formula:
$165,000 of exports = 1 highly skilled job
COLORADO EXPORT PERFORMANCE
2010 2011 2012**
Products $6.7 Billion $7.37 Billion $7.93 Billion
Services** $6.0 Billion $6.6 Billion $7.1 Billion
Jobs** 76,900 84,600 91,090
# Companies Exporting 4,494
** Estimated
COLORADO’S TOP EXPORT PRODUCTS (2011)
SOURCE: WISER, CENSUS BUREAURank Description Industry 2011 2010-2011
1 Optic, Photo, Medical & Surgical Instruments
Bioscience $1.3 Billion 19.3%
2 Industrial Machinery, Including Computers
Technology $1.1 Billion 12.7%
3 Electric Machinery, Sound & TV Equipment
Technology $1.1 Billion 16.0%
4 Meat Agriculture $799 Million 22.1%
5 Photographic or Cinematography Goods
Technology $261 Million (14.0%)
6 Rawhides and Skins Agriculture $229 Million 21.3%
7 Aircraft, Spacecraft and Parts
Aerospace $216 Million (12.2%)
8 Plastics Manufacturing $184 Million 15.3%
9 Articles of Iron or Steel Infrastructure $172 Million 50.0%
10 Mineral Fuel, Oil, Mineral Wax
Natural Resources $159 Million (36.0%)
$7.37 Billion 9.0%
COLORADO EXPORTS TO TOP MARKETS (OUT OF 210 TOTAL)
Canad
a
Mex
ico
China
Japa
n
Germ
any
Nethe
rland
s
Switz
erla
nd
Kore
a, R
epub
lic O
f
Hong
Kong
Unite
d Ki
ngdo
m0
100,000,000
200,000,000
300,000,000
400,000,000
500,000,000
600,000,000
700,000,000
800,000,000
2009201020112012 YTD
COLORADO’S EXPORTS BY MARKET
STATE COMPARISONS
U.S. Rank
State Value % change over 2010
1 Texas $206 billion
21%
2 California
$143 billion
12%
3 New York
$67 billion
20%
4 Florida $55 billion
17%
5 Illinois $53 billion
29%
TOTAL U.S.
$1.35 trillion
16%
U.S. Rank
State Value % change over 2010
22 Utah $17.3 billion
39.3%
31 Kansas $10.6 billion
17.79%
36 Nebraska
$6.9 billion
30.76%
37 Colorado
$6.7 billion
8.78%
49 New Mexico
$1.8 billion
32.88%
50 Wyoming
$1.1 billion
24.46%
Top Exporting States Neighbors
COLORADO’S METROPOLITAN EXPORTS
Metro Area Value % of total CO Exports
Denver-Aurora $4.3 billion 53.1%
Colorado Springs $1.3 billion 16%
Boulder $727 million 9%
Greeley $713 million 8%
Fort Collins $584 million 7%
SERVICE EXPORTS - INTERNATIONAL VISITORS
The top countries originating visitors to Colorado (in order of volume)1. Canada 6. Japan
2. Mexico 7. Brazil
3. United Kingdom & Ireland 8. Italy
4. Germany, Austria & Switzerland 9. Spain
5. France & Belgium 10. Australia
SERVICE EXPORTS - EDUCATION
International Students in Colorado increased 10.1% in 2010-2011 over the previous academic year
7,688 International Students studying in Colorado
Estimated student expenditures: $235 million
Country # of Students
Total $
China 1,653 21.5%
Saudi Arabia
1,122 14.6%
India 753 9.8%
Taiwan 269 3.5%
Top Institution for Enrollment
University of Colorado Boulder
University of Denver
Colorado State University
University of Colorado Denver
Colorado School of Mines
EXAMPLES OF COLORADO EXPORTERS
COLORADO’S IMPORTS - THE WHOLE STORY
Top Imports
1. Mineral Fuel 6. Furniture
2. Electronics 7. Vehicles
3. Industrial Machinery, Including Computers
8. Aircraft
4. Optical/Medical Equipment 9. Items Made of Iron/Steel
5. Pharmaceuticals 10. Plastics
Imports are up 3%, totaling $11,745,273,509
Colorado has a trade imbalance of $4,412,776,253
COLORADO IMPORTS
COLORADO’S TOP IMPORT MARKETS
Country Imports Top Product Imported
1. Canada $3,865,435,159 Crude Oil
2. China $1,938,558,929 Digital Processors
3. Mexico $682,182,766 X-Ray Plates, Sensors
4. Germany $590,847,036 Generators
5. Switzerland $557,201,577 Aircraft
6. India $399,422,850 Pharmaceuticals
7. Australia $356,592,824 Hearing Aids
8. Korea $237,223,128 Circuit Boards
9. France $231,395,244 Aircraft
10.Japan $225,452,085 Sound Recording Equip.
TOTAL $11,745,273,509
EXAMPLES OF COLORADO IMPORTERS
COLORADO FIRMS WITH GLOBAL OPERATIONS
FOREIGN DIRECT INVESTMENT IN COLORADO
National Colorado Co Rank
Jobs 5.3 Million 79,000 25
Gross Property, Plant & Equipment
$1.3 Trillion *Estimated$30 Billion
15
Commercial Property
$162 Billion $2.6 Billion 19
ORIGIN OF FDI IN COLORADO
Netherlands4%
Germany7%
Japan7%
Switzerland8%
France9%
Canada12%United Kingdom
18%
Other35%
By Employment
FDI INDUSTRY BREAKOUT
Man
ufac
turin
g
Who
lesa
le T
rade
Retai
l Tra
de
Info
rmat
ion
Fina
nce
and
Insu
ranc
e
Prof
ession
al S
ervice
s
Other
0
5
10
15
20
25
30
Thousa
nds
of
Em
plo
yees
STATE COMPARISONS
State Employees
U.S. 5.3 million
California 561,000
Texas 409,500
New York 386,100
Pennsylvania 255,000
Illinois 250,800
State Employees
Colorado 79,000
Arizona 73,100
Kansas 53,400
Utah 28,800
Nebraska 23,600
New Mexico 16,000
Wyoming 9,100
Top States for FDI Neighbors
DIRECT FLIGHTS IMPACTING TRADE
Veracruz, Mexico
Sao Paulo, Brazil
New York, NYEstimated completion date, 2014
Bahrain
WORLD TRADE CENTER DENVER
INFORM EDUCATE
ADVOCATE
CONNECT
• Established 1987• Member-based
organization• Privately funded• Partnership-focused• Rocky Mountain World
Trade Center Institute
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 facilities overseas, group trade missions
World-Class Educational Programs
Weekly Newsletters, Updates
International Business Resources
• Market research services
• Offices of government agencies and trade specialists
• International business publications and databases
Networking Opportunities, Programs, & Events
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
CONTACT YOUR LOCAL RESOURCES FOR HELP
CONTACT US
Karen Gerwitz, Executive Director
www.wtcdenver.org
(303) 592–5760