Category: Foreign Direct Investment
Foreign Direct Investment Confidence Index
Southwest Louisiana Offers Economic Development Opportunities
Southwest Louisiana is featured in the 2018 Louisiana Trade Guide as a prime area for foreign direct investment, as well as a great location for exporters.
In Southwest Louisiana you can enjoy a day of sun, sand, and surf on the coast of the “The Cajun Riviera,” or canoe the Ouiska Chitto River. You can hit the track or the casinos for Vegas-style gaming, visit museums with exhibits ranging from fine art to railroad history, and explore a re-created general store. Don’t leave without touring the Lake Charles Charpentier District, the architectural legacy of Michigan lumbermen who chopped down the trees here, then built their own distinct style of houses.
Allen Parish is diverse in culture and plentiful in natural resources and beauty, Allen Parish is where Cajun food and culture meet the timber-rich, piney woods of central Louisiana. Allen Parish is home to four Natural and Scenic Rivers, including the spring-fed Ouiska Chitto, which attracts canoeists and outdoor enthusiasts from all over the South. The Coushatta Tribe of Louisiana makes its home in Allen Parish and operates Louisiana’s premier land-based casino resort, Coushatta Casino & Resort and Koasati Pines Golf Course, its 18-hole championship course near Kinder. The gaming and hospitality industries, along with a plywood manufacturing facility, three prison facilities and a natural gas relay facility are the major private sector employers in the parish. Allen Parish has some of the most fertile farmland in the South, producing primarily rice and soybeans. The parish is served by two federal highway systems and extensive rail facilities.
Beauregard Parish is home to such industries as paper and plastics production, chemical production and insurance providers. The area is centered on one of the largest aquifers in the world. The 4,200-acre Beauregard Parish Airport has a 5,495-foot north-south runway. The airport, located just minutes away from major industry, boasts the largest land area in the state and one of the largest in the nation. US Hwy 171 and 190 provide transportation arteries. There are abundant opportunities for Nature lovers with its lakes, wildlife preserve and natural scenic beauty. Just north of the parish is Fort Polk, the state’s largest military installation and home to the Joint Readiness Training Center (JRTC).
Calcasieu Parish’s rich history combined with a modern, diversified economy and numerous recreational opportunities make this area a wonderful place to live and visit. The petrochemical industry is the mainstay economically for the parish, and the past decade has seen the aerospace and gaming industries broaden that base. The Port of Lake Charles is accessible to ocean-going vessels and is only 34 miles from the Gulf of Mexico, the closest of any deep-water port in Louisiana. Chennault International Airpark is a major feature for the area with more than 10,000 feet of runway, capable of handling most commercial aircraft. Lake Charles is the home of McNeese State University, a four-year, fully accredited university, as well as Sowela Technical Community College, one of Louisiana’s largest vocational schools. An abundance of streams, rivers and lakes along with museums, art galleries and festivals make the parish a true paradise.
The beautiful natural scenery of Cameron Parish is something not to be missed. The Creole Nature Trail All-American Road, a 180-mile drive through “Louisiana Outback” is a paradise which features beautiful plants and wildflowers and exotic wildlife, such as alligators, rare birds and many other colorful critters, all amidst the marshes and bayous of Southwest Louisiana. Cameron’s plentiful flora and fauna attract over 200,000 visitors each year, from nature lovers looking for native critters like alligators to photographers wanting to catch a breathtaking sunset or nautical scene, to bird watchers eyeing the vast variety of species found here, to beachcombers enjoying the shoreline. Cameron Parish offers a great opportunity for hunting and fishing and is a natural backdrop for industry, especially oil and gas. With its proximity to the Gulf of Mexico, it is no wonder that pipeline companies, petroleum companies, marine support vessels, offshore drilling operations and associated businesses top the list of revenue-producing businesses for the parish. For sportsmen, the area is known as “Sportsman’s Paradise” which has easy access to fishing, hunting, and wildlife which makes the region among the best in the world.
People from all over the world visit Jefferson Davis Parish to enjoy and experience rich Cajun and Indian culture. The film industry has long since discovered the unique scenery of Jeff Davis Parish, and has featured the parish in many productions. Four main transportation arteries run through the parish with I-10, US 90 and US 190 east to west, and US 165 to the north and Jeff Davis is strategically located between two major markets. The parish’s economic base includes health care services, shipbuilding, construction, agriculture, and oil field services. The Jennings Airport has a 5,000 foot runway, and the parish has many industrial sites including the Lacassine Industrial Park on I-10.
Learn more about the SWLA Economic Development Alliance.
Louisiana Trade Guide Focuses on Export Promotion and Foreign Direct Investment
Online Edition Available at Louisiana.Think.Global
A free resource for Louisiana companies involved in international trade is now available online and in print from the Louisiana Small Business Development Center (LSBDC). The fourth edition of the Louisiana Trade Guide, published in partnership between the LSBDC and ThinkGlobal Inc., features statewide information and resources to help both exporters and foreign direct investors.
The colorful, magazine-style guide includes an international trade resources section that makes it easy to find resources and services providers throughout the state. The guide also features a welcome letter from Gov. John Bel Edwards, as well as an overview of international trade-related programs and services offered by Louisiana Economic Development.
“The Louisiana Small Business Development Center spearheaded the development of the new edition of the Louisiana Trade Guide,” says Rande Kessler, state director of LSBDC. “Having a single point of reference in print and online guide is a valuable tool for Louisiana exporters, foreign investors, and service providers. The guide is a must-have resource for both new exporters and for companies looking to expand into new markets.”
The new edition of the guide includes 10,000 print copies that are being distributed throughout Louisiana. The guide will be distributed to exporters throughout the state by the SBDC network, other state and local economic development agencies, and private sector service providers. Links to the digital edition also will be sent to U.S. embassies and consulates worldwide.
“The 2018 Louisiana Trade Guide includes an updated resource section, with comprehensive data about Louisiana service providers and trade-related resources,” says Greg Sandler, publisher at ThinkGlobal. “The guide also features expert advice and answers to frequently asked questions, along with information about key resources, such as economic development organizations, ports, and other service providers throughout the state.”
To read the Louisiana Trade Guide online, visit: http://Louisiana.Think.Global
Contacts For More Information
DeRon Talley, LSBDC
318-340-9353
dtalley@lsbdc.org
Greg Sandler, ThinkGlobal
800-581-8533, ext. 808
greg@thinkglobal.net
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Best Practices for Promoting Exports and Foreign Direct Investment
Tapping into global markets helps generate jobs and economic growth throughout the United States. According to a recent report from the U.S. Commerce Department, 95% of the world’s consumers live outside the U.S. The report, which draws on research by the Brookings Institution and the National League of Cities Center for Research & Innovation, notes that competition in today’s marketplace can be local, regional or global. The report also provides the following best practices to help local, state, and regional policymakers and business leaders develop global growth strategies.
Convene
Bring together regional and metropolitan economic leaders and assets – such as key corporations, service providers, workforce, and transportation infrastructure – to specifically identify your area’s advantages and competencies for export and investment promotion. Connect with businesses and develop strategies to better understand their needs.
Think Local
There is no one-size-fits-all approach to promoting exports and investment, and each community has unique market advantages. Identify your assets, and develop a brand. Gather local market insight and assess your industry strengths. When considering an investment attraction strategy, include operating costs, supply chain management, access to natural resources, transportation infrastructure, workforce development, access to technology, and quality of life in your assessment.
Foster Regional Collaboration
By creating a regional brand identity, and fostering collaboration, communities can successfully market themselves globally, and create effective export and investment plans.
Know Your Tools And Resources
Learn about the numerous federal, state, and local resources available on export.gov, which includes free access to tools such as the “Basic Guide to Exporting” and the “Trade Finance Guide.” For local assistance, contact your state trade office or the U.S. Commercial Service (see contact information in the resource section of this guide).
Tap into Global Markets
More than 70% of the world’s purchasing power is located outside of the United States. Successful exporters recognize that their competition may no longer be with each other, but with regions around the world.
Develop a Plan
With a regional identity and key players around the table, develop an actionable plan to promote exports and investment. The Brookings Institution has published “10 Steps to Delivering a Successful Metropolitan Export Plan,” to help business leaders take advantage of best practices and start planning.
Educate
Ensure that companies in your area know whether they have an exportable product or service and know about available resources at the federal and state level to help grow their business. Broaden the definition of exports to include activities, such as services exports, international visitors, and services to foreign students. For example, facilitate a briefing or seminar series to educate businesses about federal and state investment and export assistance resources and financing.
Improve Access to Information
One way to share up-to-date resources is to make sure that your city or regional website has a section dedicated to business assistance that provides information on opportunities and events related to exporting. Consider linking to local, state and federal trade resources.
Support Your Export Pipeline
Help identify export-ready companies and refer them to regional, state and federal assistance providers, such as the local Small Business Development Center (SBDC). For investment promotion, work with state and local government agencies, local businesses, and/or universities, to identify foreign countries and cities that may already have a relationship with your city.
Partner with Higher Education Institutions
Higher education ranks among the country’s top 10 service exports. Tuition and living expenses paid by international students and their families brought in nearly $21 billion to the U.S. economy during the 2010-2011 academic year. As a source of investment, exports, and workforce development, educational institutions should be involved in your export and investment planning discussions. Area institutions also can serve as key partners, with a strong knowledge base, research, and potential for successful internship and workforce development programs. Establish a Business-to-Business Mentorship Program Connect established exporters and investors in your area with growing businesses to share expertise and know-how in a particular market or sector. Closely affiliated with the U.S. Commercial Service, the 56 District Export Councils nationwide are organizations comprised of export leaders from their local business community.
Consider a Foreign Trade Zone
A Foreign Trade Zone (FTZ) helps encourage exports and investment by allowing delayed or reduced duty payments on foreign merchandise, as well as other savings. local governments and organizations, such as ports or economic development organizations, can apply to create an FTZ in their communities.
Organize
Consider organizing trade and investment missions to key global markets to promote your region for economic development. State trade offices and federal export promotion agencies, as well as non-profit trade organizations, often coordinate missions abroad. Globally, high-ranking U.S. federal officials, state governors and mayors are viewed favorably as top leaders representing their markets to tout its exports and its winning attributes for investment.
Build Exports and Investment into Your Broader Economic Strategy
With an eye to growth and global competitiveness, seek alignment between exports and foreign direct investment; innovation in manufacturing and services; investments in freight and logistics; and the development of a globally fluent workforce. A region’s success in the global marketplace can be enhanced with coordinated messages about trade and investment opportunities.
After Initial Export Success in Asia, How Do You Scale?
Tractus Asia’s business Inc.ubator service allows you to have dedicated sales, marketing or technical support staff in Asia to grow your exports cost effectively and minimize risk. The situation is typical. You make a commitment to sell into Asia, achieve some initial export success after attending regional trade shows, and then you sign-on dedicated distributors in one or more markets. But, exports plateau or don’t meet your growth expectations. What’s wrong? Asia is the world’s largest market for your product, but you are underwhelmed by the performance of your distributors. The markets you are servicing, such as China, might have complexities that are frustrating your customers. Or perhaps, you are unable to operate your business model in Thailand in the same way as you would in the U.S. because of regulatory issues. If you can’t operate with the same business model, what do you do?
The simple answer is to have ‘boots on the ground’ in key markets – dedicated sales, technical support, or business development staff to troubleshoot these issues. The problem is the cost. To capitalize on opportunities in multiple markets in Asia – China, India, and Southeast Asia – you would have to incorporate in each of your key markets, hire staff to support your distributors, agents and customers, as well as manage operating a micro-multinational business across Asia. Not only is the investment and operating cost prohibitive, but how can you mitigate the costs and risk of needing to exit a market should you not be successful? The cost of closing a company in Asia can be 2 to 3 times what it takes to incorporate, and can take years to unwind. How do you balance your need for an in-market presence to grow your business with the costs and risks of operating a new business up to 10,000 miles away across the Pacific?
Tractus’ business Inc.ubator service is the answer. As a business Inc.ubator client you leverage Tractus’ network of offices throughout Asia to cost effectively support your business growth and minimize risk. Tractus works with you to recruit needed talent – technical sales, business development, customer support or marketing – based on a clear understanding of your needs. We conduct interviews, reference checks, and administer standardized tests as required. We then recommend a short-list of two or three finalist candidates that you interview in collaboration with our senior managers and directors. Once a finalist is selected, Tractus acts as the legal employer arranging for salary and statutory benefits to be paid and assists you to manage their performance. Your new Asia-based staff, while legally a Tractus employee, is dedicated full-time to your business.
We provide office space, administrative support, and most importantly, oversight and guidance by one of our senior managers or directors. While your new staff reports directly to you, Tractus provides the needed indirect supervisory support to ensure they are not ‘out of sight and out of mind’.
Our clients come from a wide range of industry sectors and have leveraged Tractus’ business Inc.ubator to accelerate their market entry, scale their exports to key markets in Asia, and successfully grow their international business. Please visit our website, www.tractus-asia.com, review our case studies and learn how Tractus’ business Inc.ubator can propel your Asian growth strategy or contact us on inc.ubator@tractus-asia.com for more information.