An Economic Development Partnership Trade Compliance & Foreign Exchange Workshop November, 2012 John...
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An Economic Development Partnership Trade Compliance & Foreign Exchange Workshop November, 2012 John D. Chaffee, CEO
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Transcript of An Economic Development Partnership Trade Compliance & Foreign Exchange Workshop November, 2012 John...
An Economic Development Partnership
Trade Compliance & Foreign Exchange WorkshopNovember, 2012
John D. Chaffee, CEO
NCPED
North Carolina Partnership for
Economic Development
CharlotteAdvantage West
Piedmont Triad
Research Triangle
Southeast
Northeast
Eastern
Geography and Population• Comprised of 13 counties: Carteret, Craven, Duplin,
Edgecombe, Greene, Jones, Lenoir, Nash, Onslow, Pamlico, Pitt, Wayne and Wilson
• Landmass larger than thestates of Connecticut and Rhode Island combined
• Population of 1.1 million
• Five metropolitan areas >100,000 people
NCER Strategies to Grow Our Economy
1. Provide Resources/Advocacy for Transportation2. Retain/Expand Existing Industry3. Emphasize Business Cluster Marketing - Recruitment4. Expand Adult Education Programs/Facilities5. Create Regional Marketing Brand6. Cultivate Entrepreneurship
0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 20.0$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
Nonwoven goods
Pharmaceuticals & biological products
Packaged foods
Motor vehicle MFG
Household appliances
Chemical products
Crop farming
Hospitality & travel
Building products
Distribution & Logistics
Meat processing
Fabricatedmetal products
2,166
Tobacco product MFG 2,249
Military#
Boat building
Aerospace & Defense products#
Relative Concentration (2011)
Av
era
ge
Wa
ge
(2
01
1)
Source: Feser Clusters, EMSI
Red=At-Risk ClustersGreen=Stable ClustersBlue=Emerging Clusters*Aerospace and Defense products wage is North Carolina Average Wage**Regional military numbers from bases; National numbers from US BEA (2009)#FRC East employment is included in both the Military and Aerospace & De-fense products clusters
Clusters shown in next graphic
NCER Average Wage=$41,949Source: EMSI
42.0
2011 Industry Clusters
Nash Edge-combe
Wilson
Wayne
Greene
Pitt
CravenPamlico
Carteret
Jones
Onslow
Duplin
Lenoir
Sub-regions in North Carolina’s Eastern Region
*Textiles & Tobacco*Food Processing/distribution*Pharmaceuticals andAuto-related MFG*Precision Instruments
North Sub-region
*Advanced Health Care& Higher Education (ECU)*Pharmaceuticals andAuto-related MFG*Financial Services
Pitt Sub-region
*Military*Value-Added Agriculture (e.g. farming, food processing)*Tobacco Consolidation*Building Products
Central Sub-region
*Military*Marine-related Industries*Hotels/transport (tourism)*Retiree Attraction
Coastal Sub-region
Emerging Clusters – Advanced Manufacturing• Aviation/Aerospace• Automotive parts, industrial
machinery • Life Science
• BioPharma R&D, manufacturing
• Medical Devices, R&D, mfg.• Healthcare
NCER Target Sectors (Clusters)Existing Clusters – Traditional Industries
• Military (defense)• Marine Trades• Tourism/Retiree Attraction• Value-added Agriculture
• Energy and biofuels (emerging subsector)
• Food Processing• Forest/wood products
(pellets/building products)
Promote Regional Economic Diversity Stimulate Growth:
• Complement local efforts
• Business Recruitment
• Business Expansion (export-oriented firms)
• Entrepreneurship
• Tourism
Expand Capacity:
• Grants and loans
• Workforce Development
• Research
• Partnerships
• Develop New Assets
• Infrastructure
Mission
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
$4,500,000
1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2009 2010
Exports Imports
In $Millions
Source: Census, World Almanac 2009 & U.S. BEA 2010
U.S. Exports & Imports (Goods)
91%85% 80%
15%9%
0%
20%
40%
60%
80%
100%
U.S. Japan U.K. China India
% Middle Class
Source: Adler-Miller-McCune 2008
By 2020 80% of the middle income consumers in the world will live outside the “developed” countries
Export Customers of the Future
U.S. Foreign Direct Investment
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
1960-69 1970-79 1980-89 1990-99 2000-07
FDI OutflowFDI Inflow
In $ Billions
Source: BEA
Foreign Direct Investment in U.S.
0
50
100
150
200
250
300
350
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
In $ Billions Top Region: South
Top Sector: Manufacturing
Source: Southern Business & Development, Summer 2011
FDI in NCER• 1995: no Japanese companies recruited to
region. By 2010, eight companies had invested over $250 million and employ approximately 1200 workers (excluding Bridgestone/Firestone -
an acquisition – which employs over 1000).
»Today: 40 foreign companies from 16 different countries have created thousands of high-wage jobs.
Belgium Canada France Germany
India Italy
Taiwan United Kingdom
Sweden Switzerland
Ireland
NetherlandsMexico
Japan
FDI in NCER
Korea
Australia
FDI in NCER – Latest arrival
• Canadian owned, Sprit AeroSystems (Wichita, KS) • Invested over ¼ billion dollars and employs about
300 workers building components for Airbus and Gulfstream for export to EU & ME
• Global company with facilities in Europe, Asia, and North America
• Kinston engineering center
populated by multi-nationals• 1050 employees by 2015
Exporting is key to increasing profits, growing our economy, and improving wages for American workers.
The services to help your company grow are most likely available at no or very little cost to you.
Thanks for your contribution.
www.nceast.org
Keep Exporting
