Trade has been a hot topic over the last several months. Whether the conversations have been about trade agreements, Brexit or national policy changes, trade has been front and center on our TV screens and news outlets.
While the pros and cons of trade and free markets are being debated, it is important to note that trade is not killing Utah. In fact, Utah is killing it when it comes to trade.
International business is an important part of the state's economy. In 2015, Utah exported $13.3 billion worth of goods and services, a 9 percent increase from the previous year. Approximately 3,540 companies export from Utah, and 22 percent of jobs are supported by international business.
Even more impressive is the fact that Utah ranks fourth for export growth. Imagine that--a small landlocked state's exports are growing at a faster rate than 46 other states.
None of this success would be possible without strategic international expansion from Utah companies both large and small. The IT and tech industries have helped propel the state forward in international business and increased the notability of the state by providing stellar products to customers around the world.
The mission of World Trade Center Utah (WTC Utah) is to help Utah companies think, act and succeed globally. This is accomplished through three objectives:
* Motivate and educate Utah businesses to expand their global presence
* Build capacity of Utah businesses for international trade
* Expand the global network of Utah businesses through trade missions and networking with foreign trade officials
In an ever-globalized world, looking beyond state and national borders is key to staying competitive. Especially considering 95 percent of the world's consumers live outside of the United States, 85 percent of economic growth comes from outside of the U.S. and 70 percent of the world's purchasing power is located outside of the U.S.
WTC Utah offers consultations and market research to companies looking to go global free of charge. This...