South Carolina is helping test a new federal
program to boost foreign sales for some of the state's burgeoning small
businesses.
Export South Carolina will center on increasing sales of the
state's products to Chile, one of the many countries that has an
underutilized free trade agreement with the United States, U.S. Chamber of
Commerce officials said.
The chamber selected 10 states to take part in the program. It's
designed to spur trade with countries all over the world that already have
U.S. free trade agreements.
The program kicked off in Columbia last week with Jenny Sanford,
wife of Gov. Mark Sanford, and Chilean Ambassador Andres
Bianchi talking to business leaders about the importance of pumping up
exports at growing start-ups across the state.
"We're a state where the backbone of job creation comes from small and
mid-sized businesses," Mark Sanford said in a press release.
About 95 percent of the businesses in South Carolina have 50 or fewer
employees. Trade officials warn that for some of the smallest firms,
navigating the rules and regulations of exporting poses a daunting
challenge that too few companies choose to try and overcome. In the
increasingly global economy, however, forming foreign ties can provide a
diverse and stable revenue stream.
"Businesses that export are more competitive, pay higher wages and
experience faster growth," said state Commerce Secretary Bob Faith.
Chile has been tapped as a potential windfall for companies in South
Carolina. Its economy is the most stable in Latin America and is the
fourth-fastest-growing in the world. The country also is seen as a gateway
to trade with other Latin American nations.
The export program, coordinated by the state and federal Department of
Commerce, will include a weeklong May trade mission to Chile. Firms can
meet with businesses in Santiago and work with Chilean government
officials about ways to smooth the trade process for U.S. exporters.
Potential exporters also will have access to in-state seminars and can
get help from state trade officials about ways to connect with customers
abroad.
For more information about the program, call (803) 737-0488.
RECRUITING RETAILERS
Port officials in New York and New Jersey are trying a tactic similar
to one floating around in South Carolina to lure distribution centers to
their states.
The project could set the stage for port authorities across the country
to play a bigger role in revitalization and economic development projects
in their communities.
The states' port authority and the New Jersey Economic Development
Authority have committed to pump about $1.8 million into a program
that identifies vacant land and property suitable for the huge warehouses
and distribution centers that funnel millions of dollars and thousands of
jobs into port communities each year. The so-called Portfields
Initiative is part of a nationwide program to rehabilitate former
industrial sites near port terminals.
New York and New Jersey officials announced last week they've
identified at least 20 sites that are prime properties for expanding
exporters and importers.
The goal is to attract huge retailers and distributors searching for
space in the United States where their products can be moved quickly over
good roads and through busy port terminals.
It's a feat that economic development gurus in South Carolina have been
vying to accomplish for several years. Instead, they've seen major
retailers such as Home Depot and Icon Health and Fitness
pass up properties in South Carolina for more attractive tax incentive
packages -- and land -- in states such as Georgia.
The State Ports Authority began batting around similar ideas
last week that might give them a leg up when it comes to finding suitable
properties for revenue-generating companies. Now, government economic
development agencies take on much of the responsibility for tracking down
and enticing potential tenants.
New York and New Jersey port leaders said they're launching their own
program to keep distribution centers sprouting up closer to docks.
Proximity to the waterfront could be crucial in years to come to help
speed cargo movement through increasingly busy terminals.