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Maine International Trade Presentation
- 2. OPPORTUNITIES IN INTERN Click to edit Master text styles Second level Third level Fourth level • Why Pursue International Business Fifth level • The Location Selection Process • Key Changes NATIONAL BUSINESS • Opportunities for Maine • A Suggested Strategy B © 2010, CWS Consulting Group LLC
- 3. OVERV Click to edit Master text styles Why look to International Business? Second level VIEW The Lessons of Zheng He Third level Fourth level • 1405‐1433: Zheng He Fifth level leads seven voyages from leads seven voyages from China, possibly as far as the Cape of Good Hope • Sp rred ne economic Spurred new economic and political relationships throughout Indian ocean • Hai jin banned ocean‐going exploration and trading. • Prevented the rise of any self‐sufficient economies along the coast. y g Reversed much of the economic and technological growth of the previous period © 2010, CWS Consulting Group LLC
- 4. OVERV Click to edit Master text styles Corporate Reasons for Going Global Second level VIEW • New markets for goods, Third level new customers Fourth level Fifth level • New markets for labor, New markets for labor, • Possible improvements to logistics, • Possibility of lower costs, • Favorable business environments, • Matching regulatory oversight to market opportunity © 2010, CWS Consulting Group LLC
- 5. OVERV Click to edit Master text styles What are the Benefits of International Business? Second level VIEW Third level Fourth level Economic Growth Fifth level Better Jobs B tt J b General Prosperity International Partnerships and Security Innovation © 2010, CWS Consulting Group LLC
- 6. DYNAMICS Click to edit Master text styles How is Global Business Changing? Second level Third level Economic Globalization: Globalization (or Fourth level The integration of national globalisation): Fifth level economies into the international “An ongoing process by which “A i b hi h economy through: regional economies, societies • Trade, and cultures have become • Foreign direct investment, • Capital flows, l fl integrated through globe‐ • Migration, spanning networks of • and the spread of Technology. exchange. exchange ” True Globalization is driven by a combination of : • Economic Economic, • Technological, • Socio‐cultural, • Political and • Biological factors. © 2010, CWS Consulting Group LLC
- 7. DYNAMICS Click to edit Master text styles Old Worldview Second level Third level Fourth level Fifth level ME © 2010, CWS Consulting Group LLC
- 8. DYNAMICS Click to edit Master text styles New Worldview Second level Third level Fourth level Fifth level © 2010, CWS Consulting Group LLC
- 9. DYNAMICS Click to edit Master text styles New Realities in Global Economic Competition Second level • Corporate, MNC realities Third level • Do you understand who Fourth level (less cost reduction more your competition is? Fifth level value add) Are you Global or are you National? • Understanding the nature of business “flow” in the • What is your future context of investment context of investment sectoral base? (as base? (as opposed to current • Partnership rather than activity base) j g object. Partnering with your investor‐base • What is your true value to this base? • The relevance of innovation in terms of growth f h © 2010, CWS Consulting Group LLC
- 11. INTRO Click to edit Master text styles What is Site Selection? Second level ODUCTION T LOCATION STRATEGY Third level Are we selecting a site,…. Fourth level Fifth level TO ….Or a home for a business E How Do Companies (or Consultants) Make Location Decisions? M k L ti D i i ? © 2010, CWS Consulting Group LLC
- 12. LOCAT PRIOR Click to edit Master text styles What are Companies Looking For? Second level TION Third level Labor Skills, Talent • All play some role Fourth level Fifth level • Specific importance Labor and Operating Costs p g depends on the use d d th RITIES Partners, Customers and Vendors Transportation and Access Utilities and Other Infrastructure Real Estate and Facilities Business Environment, Taxation, and Incentives Quality of Life © 2010, CWS Consulting Group LLC
- 13. LOCAT PRIOR Click to edit Master text styles What are Companies Looking For? Second level TION Third level Labor Skills, Talent Fourth level Fifth level RITIES • Financial services • High‐tech • Pharmaceuticals • Aerospace • Automotive • Medical devices • Specialty Chemicals • Global Logistics Gl b l L i i Do We Have It? Can We Get It? Can We Develop It? © 2010, CWS Consulting Group LLC
- 14. LOCAT PRIOR Click to edit Master text styles What are Companies Looking For? Second level TION Third level Labor Skills, Talent Fourth level Fifth level Do We Have It? Can We Get It? Can We Develop It? Do We Have It? Can We Get It? Can We Develop It? RITIES • Demographics and age cohorts • Educational characteristics Educational characteristics • Training programs and credits • Community College system • Universities and specific research programs • Quality of Life and Cost of Living Talent can drive innovation and be a potent business attractor. Education and recruiting must be in place to develop a sustainable Talent Pool. Pool © 2010, CWS Consulting Group LLC
- 15. LOCAT PRIOR Click to edit Master text styles What are Companies Looking For? Second level TION Third level Labor Skills, Talent Fourth level Fifth level Entrepreneurial Talent RITIES • Does the community have the means for attracting ideas as well as people? © 2010, CWS Consulting Group LLC
- 16. LOCAT PRIOR Click to edit Master text styles What are Companies Looking For? Second level TION Third level Labor and Operating Costs Fourth level Fifth level • Salaries, benefits, and efficiency for specific occupations Salaries benefits and efficiency for specific occupations RITIES • Technology and telecommunications costs • Logistics and transportation costs • Utilities costs U ili i • Real estate rent/purchase and operating costs • Currency risk • =TOTAL START‐UP and RUN‐RATE COST © 2010, CWS Consulting Group LLC
- 17. LOCAT PRIOR Click to edit Master text styles What are Companies Looking For? Second level TION Third level Partners, Customers and Vendors Fourth level • Are the right networks in place? Fifth level RITIES © 2010, CWS Consulting Group LLC
- 18. LOCAT PRIOR Click to edit Master text styles What are Companies Looking For? Second level TION Third level Transportation and Access Fourth level • Can we move our people, goods, and ideas? Fifth level RITIES © 2010, CWS Consulting Group LLC
- 19. LOCAT PRIOR Click to edit Master text styles What are Companies Looking For? Second level TION Third level Utilities and Other Infrastructure Fourth level • Availability Fifth level RITIES • Redundancy • Capacity • Resiliency l • Cost © 2010, CWS Consulting Group LLC
- 20. LOCAT PRIOR Click to edit Master text styles What are Companies Looking For? Second level TION Third level Real Estate and Facilities Fourth level Fifth level • Importance depends on industry RITIES and use • Does the right kind of facility exist in the right place at the exist in the right place at the right price? • Can I build the right facility in the right place at the right place on schedule? © 2010, CWS Consulting Group LLC
- 21. LOCAT PRIOR Click to edit Master text styles What are Companies Looking For? Second level TION Third level Business Environment, Taxation, and Incentives Fourth level Fifth level • Does the federal, state and local government RITIES understand my business? • Is there a defined process for getting the permits I need? • (Especially if I am from overseas) is there someone who can help step me through the process? • How responsive (or proactive) is the government? • When will I know if I can move forward (or not)? • Is taxation fair for my activities in this jurisdiction? © 2010, CWS Consulting Group LLC
- 22. LOCAT PRIOR Click to edit Master text styles What are Companies Looking For? Second level TION Third level Business Environment, Taxation, and Incentives Fourth level Fifth level INCENTIVES CANNOT MAKE A BAD LOCATION INTO A GOOD ONE. INCENTIVES CANNOT MAKE A BAD LOCATION INTO A GOOD ONE RITIES But they can help seal a deal and forge a partnership Tax concessions or Utility rate reductions exemptions Service fee reduction or Loans and loan guarantees exemptions Employee tax credits Infrastructure grants Wage subsidies Enterprise Zones Land subsidies or grants Foreign Trade Zones (FTZ) Cash grants Tax Increment Financing (TIF) Employee training grants Inventory tax reduction Property tax abatements p y Expedited permitting and p p g approvals © 2010, CWS Consulting Group LLC
- 23. LOCAT PRIOR Click to edit Master text styles What are Companies Looking For? Second level TION Third level Quality of Life Fourth level Fifth level • What is Quality of Life? Culture RITIES • Will my people want to Amenities come here and work here? Recreation • Can I recruit new people to l Arts this location? Education Housing Community © 2010, CWS Consulting Group LLC
- 24. THE EVALUATION PROCESS Click to edit Master text styles A Business‐Based Process Second level E The Location Process allows companies to define their business needs and then narrow the list The Location Process allo s companies to define their b siness needs and then narro the list Third level of candidates based upon best‐fit. A business‐based methodology matches companies to Fourth level locations that will meet their needs for the long‐term. Fifth level Field Analysis Final Location Final Location S Selection and Business Location Incentives Needs Screening Negotiations Assessment Financial Modeling Executed Solution NOTE: Community probably not aware of project until Field Analysis! NOTE C it b bl t f j t til Fi ld A l i ! © 2010, CWS Consulting Group LLC
- 25. BUSIN NEEDS ASSESSM Click to edit Master text styles Understanding the Core Drivers Second level NESS First: Understand and define the need(s) Fi t U d t d d d fi th Third level d( ) Fourth level • Catalog of operations at each location in the current configuration Fifth level • Proximity to key partners or clients (internal and external) P i it t k t li t (i t l d t l) S • Key labor requirements and recruitability • Facility requirements MENT • Competitive factors • Market factors Location • Regulatory concerns Regulatory concerns Goals • Infrastructure requirements • Business continuity factors • Transitional or implementation requirements T iti l i l t ti i t • Real or perceived barriers to change • Govt’ assistance required (or issues to be avoided) • Other key location criteria © 2010, CWS Consulting Group LLC
- 26. THE EVALUATION PROCESS Click to edit Master text styles Front‐Loading the Process Second level E Third level Fourth level Challenge: How can Communities enter the process earlier, Fifth level and stay in the running longer? S Field Analysis Final Location Selection and Business Location Incentives Needs Needs Screening Negotiations Assessment Financial Modeling Executed Solution S l i © 2010, CWS Consulting Group LLC
- 28. INNOV Click to edit Master text styles The Global Innovation Chain Second level VATION Third level Fourth level Innovation, not Cost Fifth level • Manage the stream and flow of knowledge and research k l d d h • Bring new products to new markets • What is your position in that flow of development? • Strategic, multi‐focused approach • Interfacing Clusters = Mutual Innovation • Develops sub‐sectors for support or spin‐off • Adding value to industry location Adding value to industry, location and economy at large © 2010, CWS Consulting Group LLC
- 29. INNOV Click to edit Master text styles Using Innovation to your Advantage Second level VATION Third level Fourth level • How do Innovation Cycles work? Fifth level • Wh i What is your regional innovation i li i cycle? • Avoid innovation “trends” versus true “cycles” • Use these as unfolding points of contribution for economic contribution for economic development (targeted investment) • Build on this for business Build on this for business attraction/Development © 2010, CWS Consulting Group LLC
- 30. ENERG Click to edit Master text styles The Coming Fuel Crunch Second level GY Third level Fourth level Relative Increase in Fuel Costs (Indexed to 1996) Fifth level ? SOURCES: Energy Information Administration, Bureau of Labor Statistics © 2010, CWS Consulting Group LLC
- 31. ENERG AND SUPPLY CHAIN Click to edit Master text styles Implication for Business Location? Second level GY Third level Fourth level Fifth level I Source: LogicNet Users Symposium 2009, David Simchi Levi © 2010, CWS Consulting Group LLC
- 32. ENERG AND LO Click to edit Master text styles Implication for Business Location? Second level GY Third level • Will manufacturing Fourth level redistribute? If so, how? Fifth level OCATION IM • What impacts will this have on globalization (or re‐ regionalization)? MPACTS • Which green technologies are best prepared to take over? • Will your community participate in developing these technologies, applying g pp y g them smarter, or in adapting your other strengths? © 2010, CWS Consulting Group LLC
- 33. REGULATORY PR Click to edit Master text styles Regulation and the “Home Market” Second level Third level • Regulation impacts the ability to Fourth level penetrate a market Fifth level RESSURES • Access (proximity) to the regulatory agency can help ease the process • Additionally, “home market” pressures can favor domestically produced goods produced goods © 2010, CWS Consulting Group LLC
- 34. SUSTA Click to edit Master text styles Sustainability Pressures Second level AINABILITY What is sustainability? Wh t i Third level t i bilit ? • Environmentally sustainable – Ensures that Fourth level degradation and consumption of land use, carbon Fifth level use, energy is net matched by remediation and i t t h db di ti d reclamation • Economically sustainable – Creates an ongoing, self‐ catalyzing cycle of activity generating positive ROI for t l i l f ti it ti iti ROI f the community and business. • Culturally sustainable – Preserves the cultural and historical resources of the community while hi t i l f th it hil accommodating and supporting growth and progress • Workforce and talent sustainable – Provides a bi‐ directional relationship between labor and business di ti l l ti hi b t l b db i by which critical talents are supplied to companies to ensure success and where opportunities are created for a broad range of occupations and talent created for a broad range of occupations and talent © 2010, CWS Consulting Group LLC
- 36. OPPORTUNITIES FOR MAIN Click to edit Master text styles The Size of the Market Second level • 4,600 businesses made Third level Fourth level over $189 billion in capital Fifth level investment in the US between December 2007‐ September 2009 • 438 000 new jobs over 22 438,000 new jobs over 22 NE months g y / / • Roughly 1/5 to 1/4 of these project were led by non‐US companies © 2010, CWS Consulting Group LLC
- 37. OPPORTUNITIES FOR MAIN Click to edit Master text styles Key Industries Second level • Educational Services Third level Fourth level • Energy (coal gasification, Fifth level petroleum refining) petroleum refining) • Metalworking Machinery • Electrical Equipment Electrical Equipment NE • Industrial Machinery • R Renewable Energy (wind, solar, bl E ( i d l biomass) • Semiconductors Semiconductors • Life Sciences • Food production and Food production and manufacturing © 2010, CWS Consulting Group LLC
- 38. OPPORTUNITIES FOR MAIN Click to edit Master text styles Current International Activity Second level • Maine companies already export goods Third level Fourth level of at least $100,000 to 99 countries Fifth level • Request for trade assistance to MITC Request for trade assistance to MITC are up 18% p • Most are for exports and new market NE development • Existing International corporate base includes: i l d • Financial Services • Composites/Advanced Materials Composites/Advanced Materials • Semiconductors • Industrial Equipment Industrial Equipment • Wood and Related Products © 2010, CWS Consulting Group LLC
- 39. OPPORTUNITIES FOR MAIN Click to edit Master text styles Strengths and Weaknesses Second level Strengths Third level Weaknesses Fourth level • Relatively low‐cost US location Fifth level • International Air connections • Regional proximity to large consumption centers in US • Linkages between and Canada transportation modes p NE • Existing international • Broadband capacity and companies and relationships access • Outreach activities to key • Perception as remote international markets • Perceptions of weather and • Talent base l b natural risk l k © 2010, CWS Consulting Group LLC
- 41. INVESTMENT AT Click to edit Master text styles Putting Things Together Second level Third level Fourth level Fifth level How do we match How do we match TTRACTION STRATEGY community strengths and goals to the needs of business? b i ? Y © 2010, CWS Consulting Group LLC
- 42. INVESTMENT AT Click to edit Master text styles Reverse Engineering Second level Third level Understand the link between community attributes and business needs Fourth level Investment Fifth level Market Analysis Industry Targeting Final Investment TTRACTION STRATEGY Strategy Attraction Plan Assessment • Collect published • Determine existing • Complete and proprietary data • Determine investor industry base remediation plan as on key criteria goals and resources • Understand key required • Construct weighting • Determine key dynamics for • Develop incentive Develop incentive and ranking model and ranking model stakeholders selected industries plan if required to test development • Catalog site • Examine availability • Develop key candidates under characteristics of key inputs marketing targets and prime and • Determine market • Look for key vendors customized message alternative scenarios and catalog regional and partners and tactics for each • Combine screening g attributes tt ib t • Determine existing Determine existing Y results with other • Develop deal • Examine existing reality and structure(s) knowledge to regional and local perception of understand market economic base benefits and dynamics • Establish initial obstacles in the site • Identify initial target strategic parameters strategic parameters and region g industry candidates i d did Investment Attraction Plan © 2010, CWS Consulting Group LLC
- 43. BEST PRACTICES Click to edit Master text styles First Steps Second level • Understand Your Communities Third level Fourth level • Organize and Prepare Fifth level S • Engage the Current Corporate Base • Build Real Connections • Build Regional Strength • Build Relationships Between Government, Business, Education, and Economic Development dE i D l t • Develop a Coherent External Image Supporting Economic Development • Actively Reach Out • Be Creative Be Creative © 2010, CWS Consulting Group LLC
- 44. Chris Steele Phone: (617) 314-6527 Email: chris.steele@cwsgrp.com THANK YOU VERY MUCH