Oklahoma – The State of Success

Vol1 iss4 2015

Issue link: http://siteselection.epubxp.com/i/620517

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12 O K L A H O M A – T H E S T A T E O F S U C C E S S ore than 70 percent of the world's purchasing power is located outside the United States, according to the U.S. International Trade Administration, and the Oklahoma Department of Commerce wants to make sure Oklahoma businesses are taking full advantage. The Department of Commerce's Global Division provides Oklahoma businesses with a variety of market- entry services on the export side. "We help Oklahoma companies to be able to do more international business, primarily through exporting," says Jesse Garcia, global project manager, Oklahoma Department of Commerce. "It allows companies, basically, to look at a different perspective, in terms of being able to increase their bottom line by not just focusing on domestic projects but also international." In turn, more jobs will be created and more revenue will be brought to the state, Garcia adds. Oklahoma has three international trade offces located throughout the world: Mexico, the Middle East region and China. "Each offce focuses on helping each company meet its needs as it tries to break into that respective market or region," Garcia says. One key market-entry service offered to Oklahoma-based businesses is attending international trade shows. The Department of Commerce subsidizes the cost for companies, especially small-to-medium-sized businesses, to exhibit under the state's banner, and allows the companies to meet with potential business partners and buyers, says Garcia. Other services offered by Oklahoma's international trade offces include assistance with international regulations and certifcations, international distributor or partner searches, market research reports and sourcing assistance. In 2014, the state's global trade offces assisted 143 companies with international business needs. According to the International Trade Administration, small and medium- sized businesses generated one-quarter of Oklahoma's total exports of merchandise in 2014. Oklahoma's top fve exports are: machinery (except electrical); electrical machinery; aircraft and spacecraft; optic, photo, medical or surgical instruments; and iron/steel products. Oklahoma businesses look to expand reach worldwide with help from the Department of Commerce's Global Division. b y K R I S T I E A T O N Expanded Reach T R A D E & S T A T E O R G A I Z A T I O S

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