The Rockies Tap Into Exports
With 95 percent of market potential situated outside the United States, it’s becoming more difficult for many companies, both well established and start-ups, to ignore today’s global business opportunities. An increasing number of businesses in the Rocky Mountain region are getting on board with exporting, with products such as beef, computer memory chips, coal, gold and soda ash among top exports.
What follows are key export data about these states, plus examples of recent export successes by companies partnering with the U.S. Commercial Service (CS) and/or its network of 100-plus U.S. Export Assistance Centers (USEAC).
In 2014, the state exported $2.34 trillion in goods/services, and its exports of goods alone supported 43,615 U.S. jobs.
Shotcrete Technologies, Inc. (STI) is an Idaho Springs-based manufacturer of spray-able concrete technology and machines for spraying concrete in underground tunnels. Completed projects include lining water-intake tunnels in New York, run-off pipes in Mumbai, hydroelectric tunnels in Ecuador, and train tunnels in Venezuela.
In the early 1990s, exports accounted for less than 15 percent of STI’s revenue, but today they represent nearly 50 percent of total revenue thanks in part to help received from CS in Denver. Over the years, that office—in coordination with Department of Commerce colleagues in embassies and consulates around the world—gave STI export counseling, market research and trade show support to help it enter new markets. The company now exports to more than 30 countries, brings in $3 million to $4 million in sales annually and employs roughly 100 workers.
Last year, U.S. Secretary of Commerce Penny Pritzker gave STI the Presidential “E” Award for Exports, the highest recognition any U.S. entity may receive for making a significant contribution to the expansion of U.S. exports.
In 2014, the state exported $2.34 trillion in goods/services; its exports of goods alone supported 26,017 U.S. jobs.
Boise-based Rekluse Motor Sports is a leader in the motorcycle industry’s clutch performance technology and innovation. Its products are developed, engineered and manufactured in America, but are recognized worldwide with accolades—and sales. Since its founding in 2002, Rekluse has looked overseas to expand its customer base.
Over the years, the firm has benefitted from export assistance given by the Boise CS office, the Small Business Administration, the District Export Council, as well as TechHelp (a NIST Manufacturing Extension Partnership Center in Boise).
Today the firm sells 30 percent of its products globally via 17 distributors in more than 40 countries, employs about 55 workers whose jobs are heavily dependent on the firm’s export market, and is always seeking to further expand its international customer base.
In 2014, the state exported $2.34 trillion in goods/services; its exports of goods alone supported 13,319 U.S. jobs.
Located in Kalispell, 5 Sparrows is a woman-owned business that manufactures powdered coffee beverages. In 2012, the company contacted the CS office in Missoula for help negotiating a Memorandum of Understanding received from a prospective business partner in the United Arab Emirates (U.A.E.).
CS Missoula maintained intensive contact with the company to review the proposed contract, and provided numerous other advisory, research and educational services designed to protect the company’s interests in finalizing the deal. As a result of this support, 5 Sparrows successfully signed an agreement, shipped an order (its first export transaction), and now has an ongoing commercial relationship with the U.A.E. client. Buoyed by this success, the firm now is looking for more international export opportunities.
In 2014, the state exported $2.34 trillion in goods/services; its exports of goods alone supported 50,578 U.S. jobs.
Albion Laboratories, Inc. is a leading global manufacturer of chelated minerals for human and plant nutritional applications. The company recently participated in a trade mission to Vietnam organized by CS in Salt Lake City, World Trade Center Utah and other strategic partners. Albion leveraged business matchmaking support provided by CS offices in Hanoi and Ho Chi Minh City through the Gold Key Service, CS’s business matchmaking program. As a result, Albion appointed a distribution partner in Vietnam and made an initial sale valued at more than $100,000. Albion now ships to nearly 100 countries and the increased export activity has greatly contributed to growing its workforce to more than 100 employees.
In 2014, the state exported $2.34 trillion in goods/services; its exports of goods alone supported 6,489 U.S. jobs.
Wyoming Completion Technologies, Inc. (WCT) is an oil tool manufacturing and design firm located in Powell. When the company decided to begin exporting to Indonesia, it formed a relationship with the CS office in Denver. Using tailored CS services, WCT reported in March 2013 that it had sold products to Indonesia for the first time, earning $270,000 in revenue. Then in April 2013, company officials had a successful meeting with their new Indonesian partner in Indonesia, and anticipate additional sales in the future.
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