PHILADELPHIA – In recognition of the success of his administration’s efforts to increase foreign investments in the commonwealth and help Pennsylvania companies do more business overseas, Gov. Edward G. Rendell was honored by a leading trans-Atlantic business network that represents hundreds of companies and individuals.
The British American Business Council of Greater Philadelphia presented the Governor with its fifth “Building a Better Future” award, which is given to a member of the community who makes significant contributions to promoting business development within the state, country and across the Atlantic.
Past award recipients have included Jean-Pierre Garnier, former CEO of GlaxoSmithKline; and HRH Prince Andrew, The Duke of York.
“Pennsylvania and the United Kingdom are significant players in the global economy,” Rendell said during a council luncheon. “I’m proud to receive this award, and I’m excited that the successes of Pennsylvania’s international business development efforts are being recognized this way. Our aim is to help Pennsylvania businesses grow and prosper, and we are working hard to strengthen existing relations and cultivate new partnerships with other countries, as well.
“We believe we are on the right track because, in 2008, Pennsylvania businesses exported more than $34 billion worth of goods. That’s 18 percent more than in 2007 and more than double the $16.3 billion total reported in 2003.”
The Governor went on to say that the business relationship between Pennsylvania and the United Kingdom has seen a measurable impact since the inception of World Trade PA, which was launched in 2006 to boost the commonwealth’s impact in the global marketplace.
Since 2006, Pennsylvania’s exports to the UK have increased by 22 percent to $1.4 billion. During that period, there have been 13 investment projects in Pennsylvania from the UK, with a total capital investment of $188 million and the creation and retention of more than 3,800 jobs.
“The British American Business Council’s goal is to increase trans-Atlantic business development, and Rendell’s efforts in that area have been extraordinarily successful,” said Sheryl Rothberg, executive director of the council. “For that reason, we’re proud to present him with our ‘Building a Better Future’ award.”
Since the start of World Trade PA, which is overseen by the Department of Community and Economic Development’s Office of International Business Development, nearly 60 foreign investment projects have been completed in Pennsylvania, resulting in the creation of more than 4,000 jobs and a total capital investment of more than $470 million.
As a result of the World Trade PA initiative, Pennsylvania was the first state to develop a virtual trade advisor, a comprehensive online resource that gives companies direct access to a vast amount of product-specific data regarding worldwide export markets.
The commonwealth also implemented the “Go Global” program to provide grant funding to organizations that teach how to promote Pennsylvania exports and penetrate foreign markets, and created the Global Alumni Network to use the resources of Pennsylvania’s foreign-based alumni to show international companies the benefits of doing business in the commonwealth.
Last year, DCED’s Office of International Business Development directly assisted more than 1,200 companies through its 24 overseas trade representatives. In addition, the Office’s Center for Trade Development organized and led 17 trade delegations to 13 foreign markets, awarded more than 300 market access grants totaling $880,000 to 170 of the commonwealth’s exporters, and facilitated $342 million in export sales for 268 Pennsylvania companies.
The British American Business Council of Greater Philadelphia, an affiliate of the Greater Philadelphia Chamber of Commerce, serves to promote increased trade and investment between the UK and Eastern Pennsylvania, Southern New Jersey and Delaware. The council facilitates social and commercial interaction for the benefit of the individual, the corporation and the region in which it operates.
For more information of the British American Business Council, visit www.babcphiladelphia.com.
