2Opportunities in the Central US : Looking beyond the Coasts Explore Export Tour, CoventryColette Buscemi, Head of Trade and Investment, ChicagoGray Hancock, Head of Trade and Investment, HoustonJune 29, 2011
3UKTI – US Network Overview of UKTI US Network US/UK Trade Links HoustonIV. Chicagoa) Economic Overviewb) Sector OpportunitiesV. Tom Thorelli
4Gray Hancock, Head of Trade and Investment US national, born in Houston, TexasFounding employee of a non-profit technology incubatorPrivate consultant for early-stage technology companiesFirst stint with UKTI in 2006 as Trade and Investment OfficerSetup satellite office in Austin for UKTI in 2007ran operations for early-stage Biotech companyAugust 2010 returned to UKTI to run the Houston office
5UKTI – US Network US is the largest UKTI overseas network Over 120 UKTI staff - 95% ‘locally engaged’ – experienced/market & sector knowledge9 offices in regional markets:East Coast: Boston; New York City; Washington DC, MiamiCentral: Chicago, Houston, AtlantaWest Coast: Los Angeles, San FranciscoSector leads in each Post, covering a range of sectors.
7The US is the UK’s largest trading partner The US is the UK’s single largest export market and the number one investor in the UKIn 2010 total trade between the US and UK was £62.8 billion£30.69 billion in US imports£32.13 billion in UK exportsUS investors are responsible for about 1,000,000 UK jobs and the UK is responsible for about 1,000,000 US jobsLast year UKTI provided services to 3,000 UK firms looking to enter the US market and supported 190 US companies in setting up in the UK
8UKTI – HOUSTON Houston Office Covers Texas, Oklahoma, Arkansas, Louisiana, New Mexico6 teams of officers and associatesIndustries covered: Oil and Gas, Renewables, Nuclear, Life Science, Financial Services, ICT, Food and Drink/Retail
9UKTI – Why are we in Texas? Texas is the 2nd largest economy in the nation and 15th largest in the world by GDP at £706.8 billion (equivalent to Russia)More Fortune 500 company HQ’s than any other state*Home to 3 of the top 10 largest cities in the U.S.Houston - #4 (2.1 million)San Antonio - #7 (1.3 million)Dallas - #9 (1.2 million)*Fortune 500 magazine, 2010
10Exports account for 27% of UK GDP In 2010, Texas ranked 1st among the US states importing products from the UK, £3.49 billionThe UK is the 8th largest destination for Texan exports, importing just over £2.04 billion in 2010
11Recent example of UKTI-Houston’s work Lindapter InternationalUK manufacturer of steelwork clamping systemsInterested in securing a distributor in the U.S. and seeking general market intelligenceCommissioned UKTI’s help through our Overseas Market Introduction Service (OMIS)
12Recent example of UKTI-Houston’s work Results of OMISUKTI identified and contacted 13 distributors on Lindapters behalf and supplied a market research report on the size of the oil and gas sector in our patch4 distributors interested in meeting with Lindapter identifiedLindapter visited Texas in early April and successfully signed a distribution agreement
13Recent example of UKTI-Houston’s work “The UKTI OMIS service is very effective and good value for money and we would recommend it to any British company and especially one that wishes to develop business in Texas or any other state in the USA.”-- Philip Toczek C.Eng.MBA, Export Sales ManagerLindapter International
14UKTI in CHICAGOUKTI in Chicago supports 14 states:Illinois, Indiana, Michigan, Ohio, Kentucky, Wisconsin, Minnesota, Iowa, Missouri, North Dakota, South Dakota, Nebraska, Kansas, and Colorado
22Midwest Economic Overview 22% of US GDP ($13.3T)Economy = in size to Western EuropeIf a separate country, would be 5th largest economy based on GDPPopulation m = 25% of US pop144 Fortune 500 company HQ’s – of which 52% have a presence in the UK.*Fortune 500 magazine, 2010
27OPPORTUNITIES FOR UK Automotive COMPANIES IN THE MIDWEST Key Facts: Total US Vehicle Sales approx 10.5 million vehicles;▪▪ Over 200 million vehicles on US roads▪▪ Over 120,000 automotive supplier manufacturing locations▪▪ Automotive suppliers account for sales over $200bn2) The US automotive industry is more low carbon technology - with opportunity for UK companies. Interest in development of alternative fuel vehicles, particularly hybridand electric vehicles. Typical supply chains are changing and this presents opportunity for UK expertise in low carbon technologies.
28Unmanned Aerial Vehicles Lean manufacturing Composite Materials OPPORTUNITIES FOR UK Aerospace COMPANIES IN THE MIDWESTUnmanned Aerial VehiclesLean manufacturingComposite MaterialsATTENDANCE at the Paris Airshow
29Technologies for the Automotive & Aerospace Healthcare IT OPPORTUNITIES FOR UK ICT COMPANIES IN THE MIDWESTTechnologies for the Automotive & AerospaceHealthcare ITRFID/PhotonicsFinancial Services Technologies4G World Mission in October 2011
30OPPORTUNITIES FOR UK ICT COMPANIES IN THE MIDWEST CASE STUDY- 4G WORLD MISSION – October 2010Chicago 2010 Largest trade show covering 4G ecosystem (Network Infrastructure, Advanced Devices, Applications, Content)Part of UKTI Strategy for Future Telecoms OpportunitiesCompanies able to exhibit on UK stand at the trade showMission members featured in a brochure highlighting UK expertise in 4G technologiesUK reception hosted by the Consul-General at the residenceMission members met with Motorola2010 mission featured 5 UK companies and generated over £1.6M of business for mission members
31OPPORTUNITIES FOR UK LIFE SCIENCE COMPANIES IN THE MIDWEST Centre of the US orthopaedics industry, owing to the presence of such companies as Stryker, Zimmer and DePuy.Animal health industry, which represents a market worth $19 billion.3) MISSION FOR RSNA 2011RSNA 2011: Medical Imaging Mission to the USA
32SECTOR: BUSINESS & FINANCIAL SERVICES 2nd largest financial and business services centre serving a wide range of regional markets & industries;Despite downturn, Chicago continues to advance as a global hub for professional and financial services. GE Capital recently announced bringing an additional 1000 jobs3) Derivatives entrepreneurs – companies that provide ancillary services such as compliance, IT, commercial real-estate. Financial and Professional services firms that specialise in business risk management products, trading tools, books and exchange and technology products. Law firms that act for US proprietary trading firms, broker dealers, fund managers and other wholesale firms
33OPPORTUNITIES FOR UK Energy/Environment COMPANIES IN THE MIDWEST Agri-Energy – Intersection of agriculture and energy in the Midwest; major industry players. Includes biofuels, wind power, waste to energy, food & packagingEnvironmental technologies – chemicals, land remediation, water purification, waste to energyPower and Transmission – grid build-out and update, energy efficiency, smart grid, metering and servicingEVENTS: Wind Power; Green Build; Missions around wind considered for 2011;
34How we can help you….Tailored market research reports identifying opportunities, customers, partners, competitors, industry trends, trade shows, etc, in the Midwest region.Identifying relevant contacts with potential customers, including assessment of interest in the UK company and current technology needs.Plan and host receptions for UK companies to launch products in the US. Targeted audience generation for reception and use of Consulate facilities.Organise missions for UK companies to relevant trade shows in the region and to meet with appropriate companies, industry associations, resellers, etc.
35Head of Trade and Investment – Midwest Thank you.Colette BuscemiHead of Trade and Investment – Midwest