The Governor’s Office of Economic Development (GOED) has contracted with World Trade Center Utah (WTC Utah) to oversee the state’s international business promotion activities.
“This formal, contracted partnership will leverage WTC Utah’s public-private partnerships for significant cost savings and increased efficiency in the state’s international business efforts,” said Val Hale, executive director of GOED. “World Trade Center Utah is a capable and trustworthy partner and we look forward to expanded global business opportunities for the state.”
GOED will retain all government-to-government relations and formal diplomacy efforts through Franz Kolb, its director of diplomacy and protocol.
In addition to its current activities, WTC Utah will assume managing responsibility for trade missions, trade shows, international business education for urban and rural communities statewide and will play a key role in pursuing foreign direct investment (FDI). WTC Utah will also provide international market analyses and data measuring Utah’s international activities.
“The mission of WTC Utah is to help companies find more customers, expand their markets and grow their business,” said Derek B. Miller, president and CEO of WTC Utah. “The addition of trade missions, trade shows and FDI is a natural extension of our current services and will enhance our ability to help create jobs and expand Utah’s economy. Our team is excited to lead the state’s international business promotion efforts and help realize the governor’s vision to make Utah a premier global business destination.”
WTC Utah has extensive experience with international business promotion. In 2016 the WTC Utah team consulted with more than 200 Utah businesses to help them successfully export. The WTC Utah team also partnered with GOED to help organize and lead three successful trade missions to Mexico, France and Canada. These trade missions provided an avenue for more than 80 individuals to connect with international business opportunities and partnerships abroad. WTC Utah also plans many events to train and educate the business community.
The contract with WTC Utah will function similar to other partnerships that allow greater flexibility in securing and leveraging resources to further the state’s economic development efforts, said Miller.
The stated mission of WTC Utah is to help Utah companies think, act and succeed globally. WTC Utah accomplishes this mission through three key objectives. First is to motivate and educate Utah businesses to expand their global presence through training seminars, regional forums and newsletters focused on international business development, trade issues and export opportunities. Second is to build capacity of Utah businesses for international trade through B2B consultations to identify expansion goals, assess current capabilities, determine overseas opportunities and connect companies with market experts and potential partners. Third is to expand the global network of Utah businesses through trade missions and networking with foreign trade officials.
