Thursday, February 16, 2017

The Impact of Foreign Direct Investment

Posted by Jillian McCue, Intern


Have you ever wondered how much Foreign Direct Investment (FDI) has been invested in the Southcentral PA region? In 2016, our region had 898 foreign owned companies operating in the area who employed 71,519 employees!

We were able to pull together regional level as well as county level data for both, number of foreign owned companies and the number of personnel employed by those foreign owned companies, from recent data from Dun & Bradstreet.


The report focuses in detail on the impact of FDI for our region’s eight counties, as well as how our region compares to the others within the state.
  • Adams
  • Berks
  • Cumberland
  • Dauphin
  • Franklin
  • Lancaster
  • Lebanon
  • York


Employees of Foreign Owned Companies


 


    Foreign Owned Companies


  • Southcentral was the third highest-ranking region based on number of foreign owned companies and number of employees of foreign owned companies (behind Southeast which has the Philadelphia metropolitan area, and Southwest which has the Pittsburgh metropolitan area)
  • The number of employees of foreign owned companies in Southcentral grew from 53,423 people in 2015 to 71,519 people in 2016
  • Southcentral had two of the top ten counties based on number of foreign owned firms
  • Southcentral had three of the top ten counties based on number of employees of foreign owned firms
  • Dauphin County had 141% growth in the number of citizens employed by foreign owned companies from 2015 to 2016
Southcentral Foreign Owned Company Employees
Read the full report here

Tuesday, January 31, 2017

Southcentral PA's 2015 MSA Report

Posted by Brittany Fleisher, Intern

Each year following the International Trade Administrations’ release of their “Metropolitan Export Series” data, we summarize the information for our region. The southcentral region of Pennsylvania encompasses seven Metropolitan Statistical Areas (MSAs). These seven MSAs grew their exports by $2.3 billion since 2010, reaching a total of $8.8 billion in 2015 that accounted for 22.4% of the total share of Pennsylvania’s exports. Since 2005, export sales for our region have increased by over 159%. 

Metropolitan Statistical Area
2005 Ranking out of 371 U.S. MSA’s
2005
Total Export Sales
2014 Ranking out of 386 U.S. MSA’s
2014 Total Export Sales
2015 Ranking out of 386 U.S. MSA’s
2015
Total Export Sales
Harrisburg-Carlisle
127
$824.1 M
79
$3.053 B
78
$2.926 B
York-Hanover
95
$1.288 B
102
$2.024 B
95
$2.076 B
Reading
151
$605.5 M
114
$1.743 B
108
$1.778 B
Lancaster
150
$605.6 M
165
$974.3 M
165
$901.3 M
Lebanon
316
$85.05 M
205
$579.8 M
194
$606.6 M
Chambersburg Waynesboro*
n/a
n/a
200
$659.2 M
218
$475.3 M
Gettysburg*
n/a
n/a
361
$63.74 M
362
$55.69 M

Pennsylvania’s top 5 export destinations are shown below. Most notably, the United Kingdom experienced the largest percentage increase of PA exports at 25%; surpassing Germany to enter the top five export countries. 

Pennsylvania’s Top 5 Export Destinations
Rank
Country
2014 Exports
2015 Exports
% Change
1
Canada
$12.30 B
$11.60 B
6% Decrease
2
Mexico
$3.73 B
$4.18 B
12% Increase
3
United Kingdom
$1.85 B
$2.33 B
25% Increase
4
China
$2.40 B
$2.06 B
14% Decrease
5
Japan
$1.58 B
$1.67 B
5% Increase

Additional information in the report include Pennsylvania’s state merchandise export totals, other Pennsylvania MSA rankings, top 10 export industries, and the balance of trade. National data includes the top 15 U.S. exporting states-which Pennsylvania ranks 10th-and the entire United States’ balance of trade to further our comparison.


All data included in this report is public information from the following databases:







Friday, September 23, 2016

17th annual Bringing the World to PA!

posted by Hannah Copenheaver
Governor Tom Wolf with Pennsylvania's Authorized Trade Representatives

In conjunction with the Pennsylvania’s Department of Community and Economic Development, we hosted the 17th annual Bringing the World to PA on Monday, September 19, 2016.

Meetings with PA’s Trade Offices:
The event brought 14 of PA’s authorized trade representatives to meet one on one with local manufacturers and colleges to discuss their international business strategies. These representatives cover 46 different international markets for Pennsylvania. The list of Pennsylvania's Authorized Trade Representatives in attendance included
  • Australia (Australia, New Zealand)    
    • Sarath Menon (Singapore) and May Abrera (Philippines)
    • Ms. Angela Foley
  • Canada           
    • Mr. Chris Leslie
  • Central & Eastern Europe (Belarus, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Russia, Serbia, Slovak Republic, Slovenia, Ukraine)
    • Ms. Pavlina Becvarova
  • Germany (Austria, Germany, Italy, Switzerland)
    • Ms. Franziska Wegerich
  • India
    • Ms. Supriya Kanetkar
  • Indonesia
    • Ms. Mary Veronika
  • Mexico
    • Chris Leslie (Canada)
    • Mr. Efren Flores
  • Middle East (Egypt, Greece, Israel, Jordan, Turkey)
    • Mr. Seth Vogelman
  • Netherlands (Belgium, Netherlands)
    • Ms. Nora van der Horst
  • Saudi Arabia
    • Ms. Wiam Alwazir
  • Singapore (Malaysia, Philippines, Singapore, Thailand, Vietnam)
    • Mr. Sarath Menon & Ms. Carma May Abrera
  • South Korea
    • Mr. Steve Shin
  • Taiwan
    • Ms. Irene Tsai & Ms. Amy Pan
  • United Kingdom (Denmark, Finland, Ireland, Norway, Sweden, United Kingdom)
    • Mr. Martin Lewis

Each year, the event seems to attract more and more companies – and we hit a record number! Companies represented the southcentral Pennsylvania area, which encompasses Adams, Berks, Cumberland, Dauphin, Franklin, Lancaster, Lebanon and York counties. Here are this year's event numbers:
  • 14 authorized trade representatives
  • 87 attendees for meetings
  • 41 different companies, 15 of which were new to the event
  • 150 meetings between companies and trade representatives

This year also presented a new opportunity for us to showcase the export program in front of Governor Tom Wolf and First Lady Frances Wolf, as they kindly opened the Governor’s Residence to host the event.
  
Evening Reception:
Governor Tom Wolf
The day ended with a networking reception in the Governor’s Rose Garden. The 129 reception attendees included state and federal government officials, the Philadelphia consular corps members, World Trade Center Harrisburg members, event sponsors, and local manufacturers and trade service providers. Guests of Honor during the reception included:

PENNSYLVANIA STATE GOVERNMENT         
  • Governor Tom Wolf
  • First Lady Frances Wolf
  • Department of Agriculture      
    • Secretary Russell Redding
    • Deputy Secretary Hannah Smith-Brubaker
  • Department of Community and Economic Development  
    • Secretary Dennis Davin
    • Deputy Secretary Joseph Burke
    • DCED Secretary Dennis Davin
    • Deputy Secretary Carol Kilko
  • Department of Education
    • Secretary Pedro Rivera
  • Department of Labor & Industry
    • Secretary Kathy Manderino
  • Department of State   
    • Secretary Pedro Cort├ęs
PHILADELPHIA CONSULAR CORPS     
  • Germany: Honorary Consul Ralf D. Weidemann
  • Flanders: Representative Daisy van den Hooff-Mertens
  • France: Honorary Consul Michael E. Scullin
  • Mexico: Consul Alicia Kerber
  • Pakistan: Honorary Consul Inayat H. Kathio
  • Peru: Consul General Vitaliano Gallardo
  • Switzerland: Honorary Consul Christine Pfister
  • Uruguay: Honorary Consul Peter Longstreth

WTC Executive Director Tina Weyant
So, why do we hold this event?
We wanted to showcase just how large the southcentral Pennsylvania export economy is and why it is important to our state’s growth. Studies show that manufactures who export show increased and faster profits, which in turn leads to more jobs and higher paid workers. According to the latest merchandise export trade statistics for US Metropolitan Statistical Areas (MSA's), which were released on September 8, 2016, the seven MSA's of southcentral Pennsylvania exported a total of $8,818,824,663 in 2015. This represents 22.4% of the total Pennsylvania state exports!  These figures demonstrate just how vast and mighty this region truly is.

Thank you to our event sponsors!

We would like to extend a special 'thank you' to Team Pennsylvania, the event’s signature sponsor, for all of their gracious support. At the silver level, we had the support of UPS and the York County Economic Alliance, York’s chamber of commerce and economic development corporation. At the bronze level, CAM Innovation (a York-county manufacturer), Fulton Bank’s international group, K&L Gates, Klinge Corporation (also a York-county manufacturer), and Stambaugh Ness provided additional financial support. Furthermore, the program would not have been possible without our partnership with MANTEC.  


Steve Shin (Korea), Franziska Wengerich (Germany), and Nora van der Horst (Netherlands)

Wednesday, July 20, 2016

A Look at the Trans-Pacific Partnership

Posted by Ian McGinnis, Intern

The Trans-Pacific Partnership is a free trade agreement among the United States and 11 other Pacific Rim countries. Generally speaking, the agreement lowers tariffs and reduces barriers to trade among all countries involved. The trade agreement is one of the largest ever, consisting of 40% of the global GDP and 25% of the world’s exports. Full text of the agreement can be found on the United States Trade Representative website.
As with any policy decisions, there will be negatives and positives. One positive of the TPP tariff reductions is the gains to be made in the agricultural sector. The export tariffs on certain goods such as fruit and soybeans are cut, giving an edge to companies that export these products. Also, machinery export tariffs are cut, which could provide that sector with a nice push. Big pharmaceuticals may not have as positive of an outlook on the TPP due to decreased intellectual property rights changes. Another way the TPP may affect the U.S. is with reduced tariffs, import competition will increase because of the decrease in price. This may have an adverse effect on the economy due to displacement of jobs. However, this will most likely be offset by job churn.

Many estimates show small gains to be made relative to currently projected growth in the U.S. This is due to the fact that 40% of American exports go to the six countries in the TPP that we already have trade agreements with, and only 6% of current exports go to the TPP countries that we do not have current agreements with. Much of the gains to be made in this deal are in countries which need greater market access such as Japan, Vietnam, and Malaysia.

This is just a brief snapshot of the agreement. There are many sources from which you can learn about it and how it will have an effect on your community; here are a few:






WSJ Opinion Article "Some U.S. Industries Seen as Winners in Pacific Trade Pact"


[Photo via Saigoneer]

Friday, July 1, 2016

5th Year for the Pennsylvania Pavilion at the Summer Fancy Food Show

Posted by: Hannah Copenheaver

The World Trade Center Harrisburg partnered for the 5th year with Pennsylvania's Office of International Business Development in organizing the Pennsylvania Pavilion at the 62nd annual Summer Fancy Food Show.

The show was held at the Javits Convention Center in New York City from June 26-28, 2016.

The Fancy Food Show is North America's largest show for the specialty food and beverage industry and attracts a large number of foreign buyers.

This Year's Show Recap:

- This year was the largest since the show’s 1954 inception.
- More than 47,000 specialty food professionals filled the exhibit halls (equal to 6 football fields).
- There were over 2,670 exhibitors, from over 55 countries, displaying their delicious foods!
- Nearly 60 Pennsylvanian companies exhibited throughout the show.



Neilly's Foods
Pennsylvania Pavilion: 


The Pennsylvania Pavilion included 13 companies, with four from our southcentral region.

Companies were able to arrange pre-scheduled appointments with foreign buyers, which took place the day before the show opened.


BumbleBerry Farms (Stoystown - Southern Alleghenies Region)

DelGrosso Foods (Tipton - Southern Alleghenies Region)

Giorgio Foods Inc. (Temple - Southcentral Region)
Little Baby's Ice Cream

Irenes's Bakery & Gourmet Kitchen (Bensalem - Southeast Region)

Little Baby's Ice Cream (Philadelphia - Southeast Region)

Love Beets (Bala Cynwyd - Southeast Region)

My Boy's Baking (Allentown - Lehigh Valley Region)

Naked Granola (State College - Central Region)

Neilly's Foods (York - Southcentral Region)
Sweet Note Bakery

Nuts About Granola  (York - Southcentral Region)

Pretzel Pete (SB Global Foods, Inc.) (Montgomeryville - Southeast Region)

Sweet Note Bakery (Bensalem - Southeast Region)

Wolfgang Candy (York - Southcentral Region)