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Welcome by Sandy Baruah Helping States Encourage Exporting Building Businesses on the Border Trade Adjustment Assistance: Helping Firms Compete in the Global Economy World Trade Centers: Gateways to the Global Marketplace The U.S. – Mexico Border: Integrated Economies A Sea Change in Ocean Shipping Intermodal Opportunities in Appalachia America’s Dependence on Flight-by-Night Operators Making Charlotte an International City  Subscribe
About Economic Development America
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At the dawn of the 21st century, we are truly living in a global economy – or, as New York Times columnist Tom Friedman puts it, the world today is “flat.”While in the new flat, global economy, competition may come from any corner of the globe, American firms have a worldwide market of opportunity. The opportunities that global markets offer are significant for America’s communities – 95 percent of the world’s customers live outside the United States. The global marketplace affords the American consumer choice and cost savings that are unprecedented in any nation’s history, and has led to a standard of living that is the envy of the world. As you will see in this issue, the development of global gateways is a promising strategy for tapping into the opportunities of the worldwide economy, and the Economic Development Administration is committed to supporting such efforts. Some examples in EDA investments in this area include: EDA invested $500,000 in 2005 to support the World Trade Center of Greater Philadelphia’s “Developing International Trade Opportunities for Industry Clusters” program. The program is providing technical assistance to smaller manufacturers in the Greater Philadelphia area to promote the growth of exporting. The project focuses its assistance on four clusters with global product growth opportunities: evidence- based medicine; business information technology; chemical products; and propellers, propulsion and rotorcraft products. Activities include preparing an area-wide study to identify the trade potential of the four targeted clusters; identifying smaller companies within the industry clusters and assessing their international trade potential; providing smaller businesses with technical assistance services to grow exports and more. The project is expected to increase documented export sales in the region by $25 million. In 2004, EDA invested $2.7 million in the Red River Valley Tech Corridor that extends along North Dakota’s Interstate 29 up to Winnipeg in Canada. Three separate investments were made by EDA to help:
In 2003, EDA invested $1.5 million in the Greater Ouachita Port Commission of West Monroe, Louisiana, to help build an intermodal facility and specialty handling facilities. The investment is working to provide the North Delta Region of Louisiana with access to international maritime trade and commerce. The investment greatly enhances the productivity of the major employers of Northeast Louisiana, saving them millions of dollars in shipping costs each month.With increased access to international markets, the firms are expanding their operations and providing substantial employment opportunities to this economic region. In addition, the location of the proposed facility on the Ouachita River is providing the region with a competitive advantage that is attracting new firms and diversifying Northeast Louisiana’s economy. These are a few examples of EDA’s support for the development of global gateways to help communities and regions compete in the 21st century. Of course, while federal agencies like EDA can help to build the environment for economic growth, successful economic development strategies are locally driven with active participation from the private sector. I thank the contributors to this issue of Economic Development America, which I trust you will find enlightening and informative. Sincerely, Sandy K. Baruah |
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