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Department of Business & Economic Development International Overview. Presentation to the Taiwanese American Science and Technology Association of Washington D.C. June 24, 2006. Governor Robert L. Ehrlich, Jr. Governor of the State of Maryland. DBED Mission.
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Department of Business & Economic Development International Overview Presentation to the Taiwanese American Science and Technology Association of Washington D.C. June 24, 2006 Governor Robert L. Ehrlich, Jr. Governor of the State of Maryland
DBED Mission • Attract new businesses to Maryland • Stimulate private investment to create jobs • Encourage expansion and retention of existing Maryland companies • Provide Maryland businesses with support, including workforce training and financial assistance
International Operations Mission • Market Maryland as ideal destination for foreign direct investment • Stimulate economic activity within Maryland through contact with the international marketplace • Serve Maryland’s business community with the programs, research, contacts, and guidance needed to engage in international business
Maryland Overview • Center of the Boston-Miami Corridor on the Atlantic seaboard • Near nation’s capital, Washington, D.C. • Ranks 42nd in size and 19th in population among 50 states (5.6 million residents) • Washington-Baltimore Metropolitan Area is: • Nation’s 4th largest retail market • Nation’s 2nd highest median income
MARYLAND EXPORTS TO GLOBAL MARKET IN 2005 Source: World Institute for Strategic Economic Research Unit: Billion USD
TOP TEN EXPORT MARKETS 2005 Source: World Institute for Strategic Economic Research Unit: Million USD
Top Ten Export Industries 2005 Source: World Institute for Strategic Economic Research
Maryland’s Unique Assets • Well-educated and highly skilled workforce • Unparalleled education opportunities • High incomes with reasonable living costs • Nation’s top recipient of federal funding for R&D per capita: $9.3 billion annually • 50+ Federal R&D Labs
Transportation Network Proximity I-68 I-81 I-83 I-70 I-95 US 301 I-270 I-95 I-97 MD 404 • Interstate access: • North-south via I-95 & I-81 • East-west via I-70 & I-68 • Rail service • CSX & • Norfolk Southern • Baltimore/Washington International Airport (BWI) - Handles over 500 million pounds of cargo annually US 301 I-66 MD 4 I-95 US 50 US 301 MD 5 US 13
Cost of Doing Business in Maryland RELATIVE BUSINESS COST INDEX
Target Industries • Advanced Technologies • Biosciences • Insurance & Finance • Manufacturing & Distribution
Insurance & Finance Target Sectors: • Retail • Data Centers/Back Office Top U.S. Companies: • Morgan Stanley, Legg Mason International Presence: • AON Limited – British provider of risk management… • Zurich Insurance Company - insurance-based financial services provider with a global network...
Manufacturing & Distribution Target Sectors: • Distribution & Logistics Top U.S. Companies: • Domino Sugar, Lion Brothers, McCormick & Co., Perdue Farms, PACE, etc. International Presence: • Unilever - multinational nutrition, hygiene, personal care company
International OperationsPrograms and Services PROGRAMS SERVICES • ExportMD Grant • - up to $ 5,000 in grant funding • - up to 80 hrs of Foreign Office assistance • Rep Programs • Pathfinder • Assist with Trade Shows • Coordinate Trade Missions • Market Research & Counseling • Research Potential Customers, • Agents & Distributors Overseas • Export Transaction Counseling
State Support For Business • Job creation tax credits • Research and development tax credits • Work force training program • Maryland Venture Fund • Challenge Investment Program • Enterprise Investment Fund • 5% State Sales Tax Exemption to Film/Video Producers
Tax Credits & Funding • Economic Development Opportunities Fund (Sunny Day Fund) • Smart Growth Economic Development Infrastructure Fund (One Maryland) • Maryland Industrial Development Financing Authority (MIDFA) • Maryland Small Business Development Financing Authority (MSBDFA) • Community Development Block Grant Program-Economic Development (CDBG-ED) • Maryland Economic Adjustment Fund (MEAF)
Work force training program • The Maryland Industrial Training Program (MITP) works with other state and local agencies to provide a seamless process for the recruitment, assessment, and placement of new employees with participating companies. The program works through local business expansion teams to assure that qualified workers are made available to new or expanding businesses.
Export Assistance • Developed by knowledgeable trade specialists • Designed to reduce the obstacles to doing business internationally, for first-time and experienced exporters alike • DBED’s Export Assistance programs and services can help you: • Reduce out-of-pocket costs; • Identify potential partners, customers, and competitors in your target markets; • Understand important foreign regulations; and • Market and promote your products overseas.
Export Programs and Services ExportMD Program ExportMD is a grant program that offers small and mid-size businesses monetary and consulting assistance for specific international marketing initiatives. ExportMD provides: • Reimbursement of 50 percent of project costs up to $5,000 and/or 80 hours of service from a DBED foreign trade representative in your target market. • Six-month membership to the World Trade Center Institute (WTCI).
Export Programs and Services Representative Program Provides exporters with proactive bilingual sales and marketing Foreign office representatives can answer phone inquiries in the native language, host meetings, participate in tradeshows, facilitate travel arrangements, evaluate the effectiveness of international marketing efforts and provide sales leads. Pathfinder Program Provides a presence for your business at international trade shows at a fraction of the cost of exhibiting or attending in person. International experts are trained to attend shows, where they will identify and meet with potential partners, suppliers, distributors and customers; promote new products; gather important materials; and generate publicity.
Additional Export Services Market Research • Tailored market research covering issues such as industry trends, competition, product pricing and distribution channels. • Customized market profiles detailing size, trends, and product potential. • Information on foreign regulations, including duties and taxes, trademarks and patents, standards and legislation. Foreign Partner Research • Identification and qualification of potential overseas partners, agents and distributors. • Identification of appropriate government and private sector resources. Advisory Services • Market entry counseling and guidance. • International strategic plan development. • Transactional counseling in response to specific exporting inquiries. Event Promotion & Planning • Assistance scheduling business appointments and developing itineraries for meetings, missions and shows.
Contact Us Nancy Wallace Director International OperationsNWallace@choosemaryland.org Maryland Department of Business and Economic Development217 East Redwood StreetBaltimore, MD 21202Phone: (410) 757-0680Fax: (410) 333-4302