Representatives from 16 countries participate in event
AURORA – Officials from Governor Rod R. Blagojevich’s administration, in partnership with the Aurora Chamber of Commerce and the Aurora Economic Development Commission, hosted a Reverse Trade Mission for Chicago International Trade Commissioners (CITCA) today to promote economic growth in Illinois. The event brought in 20 trade commissioners representing 16 countries from around the world. Attendees of the one-day event received a first-hand look at innovative new technologies featured at some of the state’s most enterprising companies.
The Illinois Department of Commerce and Economic Opportunity (DCEO) hosted the trade mission on behalf of the state. DCEO’s Office of Trade Investment oversees programs and services designed to create jobs and commerce in Illinois by helping Illinois firms export their products and by helping attract new foreign investment to the state.
“Reverse Trade Missions are another way for the state to promote Illinois’ competitive advantages to countries throughout the world and build relationships that will help us continue to move our economy forward,” said Governor Blagojevich. “With Illinois reaching a record $48.7 billion in exports last year, trade continues to be an important contributor to the state economy. We will continue to forge these positive relationships to build on Illinois’ economy.”
The trade mission included corporate visits to two companies that exhibit innovation leadership in Illinois:
Cabot Microelectronics
Cabot Microelectronics is the leading global supplier of sophisticated polishing compounds and provider of polishing pads used in the manufacture of advanced semiconductors (chips) and rigid disks—critical components that drive today’s electronic systems from desktop and laptop computers, cellular phones and electronic games, to personal data assistants, telecommunication switchboards and the servers that power the expanding Internet world.
Caterpillar
For more than 80 years, Caterpillar has been building the world’s infrastructure and, in partnership with a network of Caterpillar dealers worldwide, has helped drive positive and sustainable change on every continent. A global company, with hundreds of locations worldwide to serve and support the customer base, Caterpillar responds quickly to customer needs.
Eleven trade commissioners have scheduled appointments to meet with Aurora companies. These one-on-one meetings provide attendees with a unique forum to explore future opportunities for trade or direct investment.
“CITCA is a volunteer organisation comprising 42 members from 36 countries around the globe who come together with a common goal - to promote and facilitate the expansion of international trade and investment between our countries and the Midwest region,” said Ian Smith, Executive Director, CITCA.
“This is a great opportunity for Aurora,” said Aurora Mayor Thomas J. Weisner. “Our ample workforce, transportation access and quality of life have been big attractions for U.S. companies. We can show trade commissioners from around the world that Aurora is second to none in business growth and development”
“The Aurora reverse trade mission will be a continuation of the Aurora Economic Development Commission’s (AEDC) “Corporate Campus Aurora” Campaign designed to market the City of Aurora internationally,” said Sherman L. Jenkins, executive director of the AEDC. “The Corporate Campus Aurora campaign also promotes the city’s full interchanges on The Ronald Reagan interstate (I-88) and allows local companies to realize the opportunities for new or existing space to accommodate future growth plans.”
“We live in an increasingly global economy and now, more than ever, companies need to be innovative and flexible in order to succeed,” said DCEO Director Jack Lavin. “These reverse trade missions provide an opportunity for Illinois to showcase all that the state has to offer and opens the door for Illinois companies to new markets.”
In 2007, Illinois companies exported a record $48.7 billion in products, which was a 16 percent increase from 2006. Since 2002, Illinois exports have grown by more than $23.13 billion. Illinois is now the fifth largest exporting state in the country, which is its highest ranking on record.
OTI is working to attract essential Foreign Direct Investment (FDI) to Illinois through a host of promotional activities, including FDI seminars and reverse trade missions. Illinois currently ranks first in the Midwest in foreign direct investment. Illinois is also fifth in the nation for Foreign Direct Investment, which has created nearly 236,000 Illinois jobs and represents nearly 5 percent of the state’s private-sector workforce. Through strategic promotional seminars overseas and domestically, OTI is continuing to establish foreign investment in Illinois and helping to create more Illinois jobs.
Governor Blagojevich’s Opportunity Returns regional economic development strategy is the most aggressive, comprehensive approach to creating jobs in Illinois’ history. Since a one-size-fits-all approach to economic development just doesn’t work, the Governor has divided the state into 10 regions – each with a regional team that is empowered and expected to rapidly respond to opportunities and challenges. Opportunity Returns is about tangible, specific actions to make each region more accessible, more marketable, more entrepreneurial and more attractive to businesses. It is about upgrading the skills of the local workforce, increasing the access to capital, opening new markets, improving infrastructure, and creating and retaining jobs. Opportunity Returns is about successfully partnering with companies and communities, both large and small, to help all of Illinois reach its economic potential.