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Posts Tagged ‘exports’

New Hampshire Trade Office Receives Export Promotion Award

Friday, September 15th, 2017

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The New Hampshire Office of International Commerce received at State Trade Expansion Program award this week that will further its efforts in helping businesses find global markets for their products and services.

The $267,866 grant will be used to encourage export growth in New Hampshire, which totaled about $4.1 billion in 2016 and supports over 18,000 jobs here. The majority – 87 percent – of the more than 2,700 companies that export are small-to-medium-sized enterprises with less than 500 employees, according to the latest statistics.

“This STEP award continues to highlight New Hampshire’s dedication to small business,” said Commissioner Taylor Caswell, of the Department of Business and Economic Affairs.  “Over the years, this funding has provided opportunities for our small businesses to find global markets and we’ve continued to see that the world is very interested in what our companies have to offer. This grant represents the great efforts of our Office of International Commerce and the New Hampshire offices of the SBA and US Commercial Service.”


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New Hampshire was one of 44 states receiving some of the $18 million set aside for STEP and the amount received represents a 25 percent increase over last year.

“We are happy to continue our partnership with the State of New Hampshire and the Office of International Commerce and commend them for their creative and impactful use of this program to promote greater exporting opportunities for small companies throughout the state,” Greta Johansson, district director of the state’s SBA office.

STEP is designed to increase both the number of small businesses that begin to export and the value of exports for small businesses currently exporting.  Expanding the base of small business exporters and making the process as easy as possible is a key component of the SBA’s small business strategy.

Commissioner Rose: Exporting a Vital Part of NH Economy

Wednesday, August 6th, 2014

The recent article exploring New Hampshire’s exports, while interesting, drew conclusions that diminishes our role in a record-setting year for US exports.

In 2013, the United States set an all-time record – $2.3 trillion – for the value of goods exported around the world. New Hampshire was a part of that success, with strategic growth in some of our higher paying sectors, such as electronics, optics and military/defense components.

The US Department of Commerce uses a complex methodology to measure exports and their growth – methodology that has been in place for decades and which determines the value of each state’s activity in the global marketplace. The data provided is the accepted measure of exports by state and federal agencies, as well as the United Nations and the International Monetary Fund.

By using the Origin of Movement (OM) series, the Department of Commerce determines the breakdown of over $2 trillion in exports. The OM can be the location of where the item was produced or the location of a distributor, warehouse or cargo processing facility. New Hampshire export statistics credit the movement of oil into the state, just as another state receives credit for millions of dollars’ worth of components produced in New Hampshire.

The results can, indeed, be curious; such as how much oil the Granite State is credited with exporting or how much gold leaves Massachusetts or how many diamonds from New York. It is important to recognize that New Hampshire is by no means the only state that exports goods not usually associated with its leading industries.

OM is not a perfect system, largely because it was never designed to measure production. But it is the accepted way to calculate the worth of the nation’s exports. Under the definitions and regulations in place, oil is a New Hampshire export.

It is also important to note that there is more to exporting than the merchandise goods the OM series covers. Services, like consulting and financial services, as well as tourism and education, two important sectors in our economy, are considered exports, but they are not calculated in data compiled by the federal agency.

Exporting is a vital part of the state’s economy and every year, more of our companies are tapping into markets around the world with great success. Our record makes our state attractive to foreign investors, companies looking to expand in the US and international students seeking a quality education.

To simply extract the value of oil that flows through New Hampshire and proclaim the total to be credible data is overly simplistic and gives no credit to thousands of companies in New Hampshire contributing to the nation’s exporting success.

 

Jeffrey Rose

Commissioner

NH  Department of Resources and Economic Development

It’s Monday. Do You Know Where Your Export Market Is?

Monday, August 27th, 2012

 W.S. Badger Co., in Gilsum, NH, worked with the Office of International Commerce to research potential export markets.

             Like many small business owners, Kathleen Johnson juggles everything from overseeing the manufacturing process to marketing her product, Lickity Bits.

Located up in the North Country town of Columbia, it caters to owners of horses by encouraging horses to accept bits. She has a niche product, but knows that she could grow … well … unbridled … especially outside the U.S.

“As a small business owner, it is a daunting task trying to navigate through international markets that may be available,” Kathleen said.

That’s where the Office of International Commerce stepped in and provided her with comprehensive information about a possible export market.

“We learned that Brazil is a potentially key market for us, since it has the third highest horse market worldwide and prospering economy,” she said.

The OIC received a grant from the Eastern Trade Council to provide market research about the Brazilian market to her and several other businesses.

Why Brazil? The South American country has the seventh largest economy in the world, which is weathering the global economic challenges better than other parts of the globe. With a diversified economy and an expected surge in infrastructure improvements from now until the 2016 Summer Olympics being held there, U.S.exports are increasing rapidly.

White Mountain Imaging of Concord also made use of the Brazil market study.

“In a very competitive market, (the research) located one company interested in receiving information from WMI,” said Frank Morabito, the company’s international sales product manager.

Out in the Monadnock region, W.S. Badger Co. makes organic body care products, employing about 40 people at its new Gilsum plant. No stranger to the OIC, it has worked several times with the staff, most recently to help find a distribution partner in Russia.

“This service proved itself very valuable, as it allowed us to enter the market with a company that is screened and trusted,” said Stephanie Ritchie, Badger’s international accounts manager. “Our sales have grown slowly, but steadily, and we look forward to continuing to expand our business inRussia.”

If your company is considering exporting, you may be eligible for a grant that will pay for market research. The funds are part of the State Trade Export Promotion grant, which will, for qualifying businesses, provide these services at no cost. Available through the U.S. Commercial Service, the research usually costs between $500 and $750.

Orders for the services must be placed by mid-September. For more information, contact Kasim at 603-271-8444 or email Tina.Kasim@dred.state.nh.us.

 

Lorna Colquhoun

Communications Director

Division of Economic Development