Snyder: Exports offer improved growth, job creation for Michigan businesses
Governor promotes opportunities during Global Trade Days
Monday, Oct. 14, 2013
TROY, Mich. – Michigan is well positioned to achieve significant growth through exports and imports, Gov. Rick Snyder told representatives of more than 100 small businesses at the first of four Global Trade Days seminars to be conducted across the state this week.
“There is a world of opportunity for Michigan companies willing to explore new markets for their products, and new products for Michigan markets, all of which can mean stronger business results and new jobs for Michigan,” Snyder said. “Our state ignored these opportunities for far too long, but today our programs are re-energized and have, since 2011, helped 400 Michigan companies pursue business expansion through global ventures.”
Global Trade Days, sponsored by the Michigan Economic Development Corp., will be staged in three more Michigan cities: Lansing on Wednesday, Oct. 16; Grand Rapids on Thursday, Oct. 17; and Traverse City on Friday, Oct. 18. MEDC’s export team and market specialists from Brazil, Canada, China, Mexico and the United Arab Emirates will offer insights to help Michigan companies explore growth opportunities outside the U.S.
“The global equation is powerful. A new and diverse consumer base generates more revenue and more revenue equates to business growth for Michigan,” said Michael Finney, president and CEO of MEDC.
Snyder urged Troy seminar attendees to give serious consideration to the market opportunities being discussed, saying the five featured countries hold great promise for future business growth:
- Canada is Michigan’s largest export market, and Michigan is the number one state in the U.S. for exports to Canada. Michigan companies exported $25.4 billion in goods and materials to Canada in 2012, up from $23.4 billion in 2011.
- Mexico is Michigan’s second-largest trading partner. Michigan is the third state in the U.S. for exports to Mexico, with Michigan companies exporting $10.5 billion in goods and materials to Mexico in 2012.
- Michigan companies exported nearly $3.3 billion in goods and materials to China in 2012, making China Michigan’s third-largest export market.
- United Arab Emirates is our ninth-largest export market, with Michigan companies exporting more than $753 million in goods and materials in 2012.
- In 2012, Michigan companies exported $692.6 million in goods and materials to Brazil, making it Michigan’s 12-largest export market.
Global Trade Days is one of several MEDC programs to assist Michigan businesses interested in exporting goods or services to other countries. The state’s economic development agency also offers financial assistance to Michigan small and medium businesses for export-related activities through the State Trade Export Promotion program. The STEP program provides direct reimbursements to qualified small and medium-size export companies for up to 50 percent of allowable export-related activities.
To help with foreign markets, MEDC has established offices in Canada, Brazil and China, and is planning an office in Mexico.