Nevada's International Business Efforts Lead to Job Growth and Higher Sales Over Next Year

CARSON CITY, Nev., Feb. 11 /PRNewswire-USNewswire/ -- The Nevada Commission on Economic Development spearheaded an unprecedented number of internationally-focused initiatives during the fourth quarter of 2009, resulting in 132 higher paying jobs and $9.39 million in new aggregate sales in Nevada over the next year.

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NCED's 10-week long international business activities campaign was designed to help Nevada companies increase their export business as exports are falling during the sluggish economy. These activities were made possible by grants from the Market Assistance Program of the U.S. Department of Agriculture, which helps to assist qualifying companies with the export promotion of their products.

"Increasing export business is a way to help our companies remain viable and survive while their domestic business, in many cases, continues to soften," said Nevada's Lt. Gov. Brian Krolicki, chairman of the Nevada Commission on Economic Development. "Increasing the exports of these companies can allow them to retain or create new jobs that would otherwise not have been possible without these additional resources."

In September, delegates from NCED and Nevada businesses attended Food Ingredients Asia 2009 in Bangkok, Thailand. Fi Asia is one of the three largest gatherings of buyers of raw materials and ingredients for the food and beverage industry in Asia. After the exhibition, many of the Nevada delegates went on a continuing trade mission to Indonesia, one of the fastest-growing economies in Asia and a major manufacturing center for food products. Delegates who participated in both activities reported a one-year projection of new sales at $2.9 million as well as 165 new buyer contacts and 45 new contacts for distributors in Southeast Asia.

On October 1 and 2, NCED brought eight buyers from five European countries to Las Vegas to meet with Nevada dietary supplement and related over-the-counter products manufacturers. This first event of a series of inbound buying missions allowed Nevada companies to save on traveling expenses while allowing them the opportunity to meet pre-screened buyers from European companies. The Nevada manufactures reported a one-year projection of new sales at $4.3 million as well as 49 new buyer contacts and 12 new contacts for distributors in Europe.

Additionally, NCED brought eight foreign buyers from various parts of China to Las Vegas in October to meet with Nevada suppliers of raw materials and ingredients for the food and beverage industry. Participating Nevada companies reported a one-year projection of new sales at $550,000 as well as 29 new buyer contacts and nine new contacts for distributors in China.

The last inbound buying mission took place November 11 through 13 in Las Vegas, where six buyers of dietary supplement and related over-the-counter products were brought in from Japan. The Japanese buyers met individually with several Nevada companies while other Nevada companies met with buyers at Supply Side West 2009 held at the Sands Expo and Convention Center. Results reported by the companies attending this activity showed a one-year projection of new sales at $1 million as well as 23 new buyer contacts and six new contacts for distributors in Japan.

Wrapping up NCED's fall 2009 international activities was a trade mission to Dalian, China, on November 16, immediately before Food & Hotel China 2009, China's premier expo for imported food, wine and hospitality products. Nevada business participants reported a one-year projection of new sales at $640,000 as well as 54 new buyer contacts and 11 new contacts for distributors in China.

In totaling the results of all six of NCED's fourth quarter international activities, the combined results show a one-year projection of new aggregate sales of $9.39 million as well as 320 new buyer contacts and 83 new contacts for distributors in Southeast Asia, Europe and China.

According to the U.S. Department of Commerce, every $71,000 increase in exports saves or creates one new job, and that export-related jobs pay on the average 17 percent more than the same job that is not export related. NCED's international efforts last fall will save or create 132 higher paying jobs in the next year.

In addition, six Nevada companies have been granted direct funding for export related promotional activities in 2010, through the USDA's matching grant Branded Program, in the aggregate amount of $309,200. This is twice the amount granted in 2009 and indicates that these Nevada companies are seeking additional growth opportunities through exporting.

About the Nevada Commission on Economic Development

The Nevada Commission on Economic Development promotes a robust, diversified and prosperous economy based on innovation, human ingenuity and sustainability.  This is achieved through programs including national and international Business Development, Community Development Block Grants, Procurement Outreach and the Nevada Film Office.  NCED has offices at 108 East Proctor St. in Carson City and at 555 E. Washington Ave., Suite 5400 in Las Vegas.  More information can be accessed at www.expand2nevada.com or by calling 800-336-1600.    

SOURCE Nevada Commission on Economic Development