The mission of the International Trade and Diplomacy Office (ITDO) is to increase exports, foreign direct investment and international trade related jobs in Utah.
Business Mentoring and Training
ITDO help’s Utah companies do business internationally and expand existing markets. This assistance is provided in one-on-one mentoring, region-specific training seminars and trade missions.
Additionally, ITDO holds numerous networking events. In FY2013, ITDO assisted approximately 700 companies through individual meetings and trained over 1,500 individuals on international trade issues through more than 50 training events.
ITDO led eight trade missions in FY2013 to various countries such as Mexico, Thailand and Indonesia. ITDO also coordinated a Governor-led Trade Mission to Tel Aviv, Jerusalem and Ramallah in April 2013. While there Governor Herbert pitched venture capitalists, politicians and technology leaders on how Utah is a wise place for foreign investment. ITDO also helped sponsor the first ever International Summit in September. Nearly 300 individuals attended the conference to learn more about international business. A schedule of upcoming events can be found at http://business.utah.gov/international/.
ITDO represents the State of Utah and the Governor on all diplomatic and trade matters, including hosting foreign dignitaries and delegations. Because of the strong relationships between Utah and numerous foreign countries, ITDO is able to connect Utah companies to diplomats and business leaders around the world. ITDO helped host over 20 Ambassadors from around the world in FY2013.
ITDO works closely with a number of internationally focused partners, including the U.S. Commercial Service, World Trade Center Utah, Small Business Administration and World Trade Association of Utah to promote export growth in the state. Utah has experienced strong economic growth related to international trade. From 2008 to 2012, Utah’s exports grew by 85.15% (compared to the national average of 20.1%). Previously Utah saw triple digit export growth (‘07-‘11) and is now focusing on increasing diversified exports to targeted international markets. These exports help fuel job creation in Utah, especially for small and medium-sized businesses.
ITDO also contracts with seven trade representatives who are located in ITDO’s target markets: China, Brazil, Europe, Korea, Japan, Mexico and Chile. These representatives solicit foreign direct investment for the state and aide Utah companies when expanding their business overseas.
State Trade and Export Promotion Program (STEP)
With 95% of the world’s customers living outside the United States and less than one percent of our small businesses selling abroad, our small businesses are missing out on lucrative opportunities to find their new customers, expand their business and create new higher-paying American jobs (United States Senate, Committee on Small Business and Entrepreneurship). The State Trade and Export Promotion (STEP) Program is a federal and state funded program to expand Utah business internationally.
Double Exports from the state of Utah by 2014.
• Training • Export readiness Assessment • Market Research • International Trade Mission • International Trade Shows
• Assistance from international trade experts • Opportunity to develop and direct contact with international partners • Reimbursements for Gold Key Services to companies that qualify
• A qualifying company that is new to export OR has exported but is entering a new market • Meets federal definition of a small business • Has been in business for no less than 1-year • Is operating profitable based on U.S. operations • Has a strategic plan for exporting