Florida Chamber of Commerce Celebrates World Trade Month

Encourages Renewal of NAFTA

 TALLAHASSEE Fla. (May 1, 2018)— The Florida Chamber of Commerce is celebrating May as World Trade Month and is reinforcing the important role global trade plays in creating jobs, growing opportunities for small businesses and increasing foreign direct investment.

Despite the flurry of trade actions on exports and imports, the Florida Chamber remains committed to Florida succeeding as a global hub for trade, in order to ensure we remain competitive in a global marketplace. Expanding rules-based trade and investment is a key engine for Florida’s growth. The Florida Chamber is actively working to advance these efforts on behalf of the business community, every day.

“Florida is not just a great place to live and do business, but has an incredibly diversified economy” said BOB GRAMMIG, Chair, Florida Chamber of Commerce and Partner, Holland & Knight. “By expanding Florida’s role as the global hub for trade and logistics, we are creating jobs, attracting and retaining talent and providing more opportunities for businesses who want to grow or expand in our state.”

The Florida Chamber of Commerce has a long-standing history of supporting free trade, expanding international trade and investment opportunities for Florida’s business community, advocating for fair and equitable market access for Florida-origin exports abroad, and eliminating barriers that are harmful to Florida’s competitiveness as a global hub for trade.

Consider the Economic Impacts of Trade in Florida:

  • Florida ranks sixth in the nation in terms of foreign direct investment employment—with foreign companies employing more than 327,000 Floridians,
  • International trade supports more than two million jobs in Florida, that’s one in five jobs,
  • International business accounts for about 17 percent of Florida’s economy, and
  • In 2017, Florida’s total merchandise trade reached $147.7 billion.

Yesterday, the Florida Chamber and Ontario Chamber of Commerce announced their partnership supporting continued cross-border trade agreements between Florida and Ontario, and encouraged the renewal of the North American Free Trade Agreement (NAFTA) during the current renegotiation process.

“With nearly 500 Canadian companies employing Floridians, it is important that we continue to maintain and expand our relationship with Ontario and Canada to fuel economic growth,” said MARK WILSON, President and CEO of the Florida Chamber of Commerce.  “The Florida Chamber is proud to join the Ontario Chamber in support of free trade and modernization and renewal of NAFTA.”

Members of the Florida Chamber of Commerce will travel to Washington, D.C., in the coming days to encourage Florida’s Congressional Delegation to support Florida job creators, and to work to ensure that trade continues to benefit the U.S. and Floridians.

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The Florida Chamber of Commerce is the voice of business and the state’s largest federation of employers, chambers of commerce and associations, aggressively representing small and large businesses from every industry and every region. The Florida Chamber works within all branches of government to affect those changes set forth in the annual Florida Business Agenda, and which are seen as critical to secure Florida’s future. The Florida Chamber works closely with its Political Operations and the Florida Chamber Foundation. Visit www.FloridaChamber.com for more information.

Are You Informed About Florida’s Foreign Direct Investment Potential?

 

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Foreign direct investment (FDI) and exporting are essential components of a local economic development strategy. According to the 2017 World Investment Report: Investment and the Digital Economy, global FDI is expected to rise by five percent, to almost 1.8 trillion in 2017. The United States, China and India have, and continue to be the top prospective destinations for FDI. The Florida Chamber’s most recent Florida Direct Investment Report found that Florida’s FDI almost doubled year over year.recent.

In the 2017 A.T. Kearney Foreign Direct Investment Confidence Index, it was noted that “an overwhelming 75 percent of investors plan to increase their FDI in the coming three years. Although this intention to increase FDI is consistent across both regions and sectors, investors based in Asia (79 percent) and those in the IT sector (83 percent) are particularly keen to boost their level of FDI.”

What is Your Community’s Strategy for Attracting FDI?

Please join the Florida Chamber for our next Global Florida webinar on Tuesday, September 5, at 3:00 p.m., and learn why Florida is considered by many to be the ideal state for companies to invest in. Register today!

By The Numbers: Foreign Direct Investment

Florida needs to create 2 million net new jobs between now and 2030, but will our state be prepared for the future – even as job creation slows down?

Currently, more than 266,000 Floridians are employed by foreign companies or their affiliates. There are opportunities to capture more job-creating Foreign Direct investment in Florida, as Florida Chamber Chief Economist Jerry Parrish explains in the latest edition of By The Numbers.

European Nations Lead Investments in Florida’s Global Economy

FOR IMMEDIATE RELEASE
CONTACT: Edie Ousley, 850-521-1231 or 850-251-6261
eousley@flchamber.com

Companies from Europe Account for 67% of all Florida
Foreign Employment and 17% of Florida Origin Exports

TALLAHASSEE, FL. (May 27, 2015) – European countries are the leaders among foreign investors, with majority foreign-owned companies from Europe accounting for 67 percent of all Foreign Direct Investment (FDI) employment in Florida, the Florida Chamber of Commerce announced today.

“Florida’s leading European investors include the UK, Germany, France, Switzerland and the Netherlands. Europe presents unique strategic, trade and export opportunities for Florida,” said Alice Ancona, Director of Global Outreach for the Florida Chamber of Commerce.  “Currently, 17 percent of all Florida origin exports go to Europe, a market of over 500 million consumers. The U.S. and Europe represent half of the world’s economic production. Opening markets and creating jobs for Florida families are why trade is important to Florida.”

Florida visitors from Europe also help strengthen Florida’s economy and create jobs. In fact, every 85 visitors that come to Florida help create one new Florida job. Out of the top international countries for visitation to Florida, the UK ranked third, behind Canada and Brazil, with 1.6 million visitors in 2014.

The impact of international trade to Florida’s economy cannot be denied.

  • International business and foreign direct investment accounts for approximately 17 percent of Florida’s economic activity, and
  • Directly supports more than 1 million Florida jobs.
  • Florida is the seventh largest exporter of state-origin products with Florida-origin exports totaling more than $58.6 billion and exports from Florida supporting 275,221 U.S. jobs in 2013.

But Florida’s business leaders know that Florida must continue to work hard to remain the leader in international initiatives.

“Florida has come a long way in building international economic development efforts, but our work is far from over,” said Doug Davidson, Market Executive of Global Commercial Banking at Bank of America Merrill Lynch. “At Bank of America, we support the Florida Chamber Foundation’s research in trade and logistics because we know that Florida’s future lies in being globally competitive.”

The Florida Chamber’s Global Florida Program’s mission is to educate and promote business opportunities, collaborate and advance policy initiatives in each of the four major geographic regions:  Americas, Asia Pacific, Europe and Middle East/Africa. Agriculture Commissioner Adam Putnam recently sponsored the Florida World Trade Month resolution, which was signed by Governor Scott, Attorney General Pam Bondi and CFO Jeff Atwater.

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The Florida Chamber of Commerce is the voice of business and the state’s largest federation of employers, chambers of commerce and associations, aggressively representing small and large businesses from every industry and every region. The Florida Chamber works within all branches of government to affect those changes set forth in the annual Florida Business Agenda, and which are seen as critical to secure Florida’s future. The Florida Chamber works closely with its Political Operations and the Florida Chamber Foundation. Visit www.FloridaChamber.com for more information.