OFFICE OF INTERNATIONAL BUSINESS DEVELOPMENT Pennsylvania – Ireland – Northern Ireland A Strategic Partnership
OUR MISSION The Office of International Business Development (OIBD) is committed to helping Pennsylvania companies increase their export sales and to encouraging foreign companies to invest in Pennsylvania. 2
WHERE IS PENNSYLVANIA? Pennsylvania is located in the northeastern United States, and is States, and is flanked by other major hubs like New York City and Washington, D.C. 3
WHERE IS PENNSYLVANIA? Pittsburgh Philadelphia Philadelphia Philadelphia and Pittsburgh are Pennsylvania’s two largest cities and metropolitan areas, and Philadelphia is America’s 5 th largest city. They’re both in the top 14 cities in the U.S. for fostering entrepreneurial growth, and in the top 20 cities in the country that attract the most startups. 4
PENNSYLVANIA’S ECONOMY 19th largest economy in the world Pennsylvania is located in a region that is so prosperous that, if the area within a 320-km radius of Philadelphia was considered to be a single economy, its A GDP of GDP would be greater than France, the 6 th largest economy in the world. $684B (~ EUR 605 billion 5 ~ GBP 559.4 billion)
ECONOMY Pennsylvania Ireland ~ 4.7 million IRL population ~ 12.8 million ~ 1.87 million NI 2.2 million IRL 6.5 million labor force 837,000 NI 8.3% IRL 5.7% unemployment rate 5.5% NI 119,283 km 2 70,273 km 2 land area 6
ACCESS TO TALENT AT WORLD-CLASS UNIVERSITIES PA universities are leaders in engineering, life sciences, applied technology education, plastics, finance, and more. 7
ACCESS TO CAPITAL IN PENNSYLVANIA Provides capital to both early- stage, technology-based firms and established manufacturers with funding, business and technical expertise, and access to a network of innovative, expert resources. Invests in novel, early-stage life sciences technology with strong market potential. 8
ACCESS TO SUPPORT IN PENNSYLVANIA • Keystone Opportunity Zones • Keystone Innovation Zones • Pennsylvania First • • Job Training Grants Job Training Grants • Commonwealth Financing Authority • Governor’s Action Team • Office of International Business Development 9
INFRASTRUCTURE 3 ports to the Atlantic 6 international 4 Class 1 railroads 8 Foreign Trade Zones 10 Ocean, Gulf of Mexico airports & Great Lakes
PENNSYLVANIA’S ECONOMIC OPPORTUNITIES PEOPLE READY INCLUSIVE EXTENSIVE We offer a Our workforce We welcome Large to small, ready-made is ready for international we have it all. market you. businesses. opportunity . • 6,450+ foreign- • 12 million+ owned consumers businesses • 6.5 million • 275,000+ 11 workers employees
AREAS FOR OPPORTUNITY 12
LIFE SCIENCES $3.2 billion ranked 2 (~ EUR 2.9 billion 4th 3 ~ GBP 2.3 billion) for amount of NIH funding in 2015 in private follow- 0 on funding $2 billion 9 78,294 firms (~ EUR 1.8 billion ~GBP 1.6 billion ) 13 employees R&D Expenditure
AGRIBUSINESS Welcome Food manufacturing 1 st – Mushrooms ranks among the 1,420+ 2 nd – Butter 2 nd – Organic Eggs food manufacturing Top 10 employers 4 th – Apples fastest-growing exporting industries in the state. produces nearly $38.4 billion (~ EUR 34.2 billion / ~ GBP 27.9 billion) 14 worth of manufactured food products annually
ENERGY In 2014, annual gross natural gas production exceeded 4 trillion ft 3 Largest unconventional and second-largest overall natural gas 15 field in world
ENERGY OPPORTUNITIES 16
ENERGY OPPORTUNITIES 17 Source: EPA
MANUFACTURING $82,961B GDP (~ EUR 74 billion ~ GBP 67.8 billion) 571,000+ 8 th largest workforce output 19,770 18 in the U.S.
CONNECTIONS 19
PENNSYLVANIA TRADE WITH IRELAND Top 5 PA Exports to Ireland in 2015 (in USD) Organic Chemicals $253,400,901 Pharmaceutical Products $152,789,391 Industrial Machinery, Including Computers $45,390,260 Plastics $24,729,529 Optical/Photo/Medic/Surgical Instruments $12,385,442 Total of all Commodities $554,817,230 20 Source: WISERtrade
IRISH TRADE WITH PENNSYLVANIA Top 5 PA Imports from Ireland in 2015 (in USD) Pharmaceutical Products $1,000,600,631 Special Classification Provisions, Nesoi $284,616,606 Optical/Photo/Medic/Surgical Instruments $110,075,461 Essential Oils/Perfumery/Cosmetic $99,181,506 Industrial Machinery, Including Computers $16,233,766 Total of all Commodities $1,559,825,241 21 Source: WISERtrade
IRISH INVESTMENT IN PENNSYLVANIA # of # of Rank # Rank # Jobs Firms of Firms of Jobs 207 9,492 9 8 22 Source: Dun & Bradstreet, July 2016
NORTHERN IRELAND INVESTMENT IN PENNSYLVANIA # of # of Rank # Rank # Jobs Firms of Firms of Jobs 13 1,924 33 26 23 Source: Dun & Bradstreet, July 2016
INVESTORS IN PENNSYLVANIA Ireland Northern Ireland 24 Source: Dun & Bradstreet, July 2016
SERVICES 25
OUR INVESTMENT SERVICES Providing Work with the Aiding Coordinating information on Governor’s companies in site and Pennsylvania’s Action Team to setting up U.S. building entities labor, average searches with vet projects for wages, business business regional tax structure, assistance partners and more programs Networking with potential partners, including: • Suppliers • Banks • Colleges & • Real estate universities professionals • Law firms • Construction & • Accounting firms engineering 26 firms
JOINT VENTURE PARTNERSHIP PROGRAM The PA Office of International Business Development regularly receives economic development lead opportunities originally furnished to OIBD by its authorized international representatives concerning international businesses that may be interested in: • locating in • investing in • trading with • contracting with or • partnering with businesses located in Pennsylvania. The opportunities are updated and shared every 5 weeks to our regional economic development partners across the 27 commonwealth.
LOCAL REPRESENTATION Pennsylvania Authorized Investment Representative (Ireland & UK) Richard Kilner 133 Coombe Lane London SW200QY United Kingdom rjkilner@aol.com 28
CONTACT US Joseph Burke Deputy Secretary Deputy Secretary Office of International Business Development Pennsylvania Department of Community & Economic Development jburke@pa.gov 1-717-720-7366 http://dced.pa.gov/international @investPA 29
Thank you! Go Raibh Maith Agat! Pennsylvania Department of Community & Economic Development http://dced.pa.gov 30 @PADCEDnews
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