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INTERNATIONAL BUSINESS THE IMPACT ON COLORADOS ECONOMY & JOBS GLOBAL DAY COLORADO – AUGUST 23, 2012.

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Presentation on theme: "INTERNATIONAL BUSINESS THE IMPACT ON COLORADOS ECONOMY & JOBS GLOBAL DAY COLORADO – AUGUST 23, 2012."— Presentation transcript:

1 INTERNATIONAL BUSINESS THE IMPACT ON COLORADOS ECONOMY & JOBS GLOBAL DAY COLORADO – AUGUST 23, 2012

2 INTERNATIONAL BUSINESS FACTORS TO CONSIDER Trade – Exports/Imports Global Operations Foreign Direct Investment Tourism Education Direct International Flights

3 INTERNATIONAL TRADE – BENEFIT TO COMMUNITIES INTERNATIONAL 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

4 COLORADOS 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 nations strongest

5 COLORADOS EXPORTS – THE BAD NEWS Colorado ranks 37 th 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

6 JOBS CREATED BY COLORADO EXPORTS U.S. Department of Commerces formula: $165,000 of exports = 1 highly skilled job

7 COLORADO EXPORT PERFORMANCE 201020112012** Products$6.7 Billion$7.37 Billion$7.93 Billion Services**$6.0 Billion$6.6 Billion$7.1 Billion Jobs**76,90084,60091,090 # Companies Exporting4,494 ** Estimated

8 COLORADOS TOP EXPORT PRODUCTS (2011) SOURCE: WISER, CENSUS BUREAU RankDescriptionIndustry 20112010-2011 1 Optic, Photo, Medical & Surgical Instruments Bioscience$1.3 Billion19.3% 2 Industrial Machinery, Including Computers Technology$1.1 Billion12.7% 3 Electric Machinery, Sound & TV Equipment Technology$1.1 Billion16.0% 4 MeatAgriculture$799 Million22.1% 5 Photographic or Cinematography Goods Technology$261 Million(14.0%) 6 Rawhides and SkinsAgriculture$229 Million21.3% 7 Aircraft, Spacecraft and PartsAerospace$216 Million(12.2%) 8 PlasticsManufacturing$184 Million15.3% 9 Articles of Iron or SteelInfrastructure$172 Million50.0% 10 Mineral Fuel, Oil, Mineral WaxNatural Resources$159 Million(36.0%) $7.37 Billion9.0%

9 COLORADO EXPORTS TO TOP MARKETS (OUT OF 210 TOTAL)

10 COLORADOS EXPORTS BY MARKET

11 STATE COMPARISONS U.S. RankStateValue% change over 2010 1Texas$206 billion 21% 2California$143 billion 12% 3New York$67 billion 20% 4Florida$55 billion 17% 5Illinois$53 billion 29% TOTAL U.S. $1.35 trillion 16% U.S. RankStateValue% change over 2010 22Utah$17.3 billion 39.3% 31Kansas$10.6 billion 17.79% 36Nebraska$6.9 billion 30.76% 37Colorado$6.7 billion 8.78% 49New Mexico $1.8 billion 32.88% 50Wyoming$1.1 billion 24.46% Top Exporting StatesNeighbors

12 COLORADOS METROPOLITAN EXPORTS Metro AreaValue% of total CO Exports Denver-Aurora$4.3 billion53.1% Colorado Springs$1.3 billion16% Boulder$727 million9% Greeley$713 million8% Fort Collins$584 million7%

13 SERVICE EXPORTS - INTERNATIONAL VISITORS The top countries originating visitors to Colorado (in order of volume) 1. Canada6. Japan 2. Mexico7. Brazil 3. United Kingdom & Ireland8. Italy 4. Germany, Austria & Switzerland9. Spain 5. France & Belgium10. Australia

14 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 $ China1,65321.5% Saudi Arabia 1,12214.6% India7539.8% Taiwan2693.5% Top Institution for Enrollment University of Colorado Boulder University of Denver Colorado State University University of Colorado Denver Colorado School of Mines

15 EXAMPLES OF COLORADO EXPORTERS

16 COLORADOS IMPORTS - THE WHOLE STORY Top Imports 1.Mineral Fuel6. Furniture 2. Electronics7. Vehicles 3. Industrial Machinery, Including Computers 8. Aircraft 4. Optical/Medical Equipment9. Items Made of Iron/Steel 5. Pharmaceuticals10. Plastics Imports are up 3%, totaling $11,745,273,509 Colorado has a trade imbalance of $4,412,776,253

17 COLORADO IMPORTS

18 COLORADOS TOP IMPORT MARKETS CountryImportsTop 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

19 EXAMPLES OF COLORADO IMPORTERS

20 COLORADO FIRMS WITH GLOBAL OPERATIONS

21 FOREIGN DIRECT INVESTMENT IN COLORADO NationalColoradoCo Rank Jobs5.3 Million79,00025 Gross Property, Plant & Equipment $1.3 Trillion*Estimated $30 Billion 15 Commercial Property $162 Billion$2.6 Billion19

22 ORIGIN OF FDI IN COLORADO

23 FDI INDUSTRY BREAKOUT

24 STATE COMPARISONS StateEmployees U.S.5.3 million California561,000 Texas409,500 New York386,100 Pennsylvania255,000 Illinois250,800 StateEmployees Colorado79,000 Arizona73,100 Kansas53,400 Utah28,800 Nebraska23,600 New Mexico16,000 Wyoming9,100 Top States for FDI Neighbors

25 DIRECT FLIGHTS IMPACTING TRADE

26 Veracruz, Mexico Sao Paulo, Brazil New York, NY Estimated completion date, 2014 Bahrain

27 WORLD TRADE CENTER DENVER INFORMEDUCATEADVOCATECONNECT Established 1987 Member-based organization Privately funded Partnership-focused Rocky Mountain World Trade Center Institute

28 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

29 World Trade Center Denver – 303-592-5760 – www.wtcdenver.org www.wtcdenver.org Colorado International Trade Office – 303-892-3850 – www.colorado.gov/trade www.colorado.gov/trade Colorado Department of Agriculture – 303-239-4118 – www.coloradoagriculture.com www.coloradoagriculture.com U.S. Export Assistance Center – 303-844-6623 – www.export.gov www.export.gov CONTACT YOUR LOCAL RESOURCES FOR HELP

30 CONTACT US Karen Gerwitz, Executive Director www.wtcdenver.org (303) 592–5760


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