O'MALLEY TO ANNOUNCE LAUNCH OF MARYLAND EXPORT INITIATIVE

ANNAPOLIS, MD – In an effort to help Maryland’s small businesses increase their exports, create jobs and take advantage of trade opportunities in the global marketplace, Governor Martin O’Malley today will announce the launch of the Maryland Export Initiative. Created to complement the National Export Initiative, which President Barack Obama recently announced to increase the nation’s exports and create two million jobs over the next five years, Maryland’s export initiative will focus on increasing export assistance to small businesses, creating jobs and leveraging the resources of existing federal and nonprofit partners. The Governor will officially unveil the initiative tonight at the 14th Annual World Trade Center Institute International Awards at the American Visionary Art Museum, where he will also present the Governor’s International Leadership Award.

“While international trade supports well over 600,000 jobs in Maryland, only 3 percent of our businesses are actively exporting and taking advantage of the tremendous opportunities that exist in overseas markets,” said Governor O’Malley. “This initiative will give Maryland’s small businesses the resources and support they need to explore new avenues for growth, market their products and services globally and ultimately create new jobs.”

As part of the Maryland Export Initiative, Maryland will fully fund in FY 2011 Export MD grants, a program within the Maryland Department of Business and Economic Development (DBED) that awards $5,000 grants to small and mid-sized companies to assist them with doing business overseas. The program, which awarded a record number of 40 grants in FY 2009, was temporarily suspended this fiscal year due to the State’s budget challenges. As of April 1, DBED will again be accepting applications for the program and information is available at www.choosemaryland.org

In addition, through the Export Initiative, the State will work with its federal partners, including the U.S. Export Assistance Center (USEAC) and the U.S. Department of Commerce, on a new campaign to educate Maryland companies on how to access foreign markets and develop export markets for their products. In 2009, Maryland exported $9.2 billion in goods and services, which was down from $11.3 billion in 2008. To assist in growing Maryland’s exports, Baltimore’s USEAC Director Bill Burwell will join the Governor’s International Advisory Council as an ex-officio member to coordinate the Export Initiative.

“The U.S. Commercial Service is proud to partner with the State of Maryland on this important initiative,” said Burwell. “The Maryland Export Initiative will provide Maryland businesses with the support they need to compete in the global marketplace and we look forward to working with the State to grow this economic driver.”

Over the past year, the O’Malley-Brown Administration has taken significant steps to ramp up the State’s international outreach, including opening a number of number of foreign offices in targeted countries, convening the Governor’s International Advisory Council to provide strategic direction and develop a plan to enhance Maryland’s global profile and creating the State’s first International Incubator at the University of Maryland, College Park to assist foreign-owned companies launch their U.S. operations.

The efforts have produced significant results. Since July 1, 2009, Maryland has attracted 20 foreign-owned companies from a number of countries, including China, Brazil, Korea, Russia, Sweden and the United Kingdom. This is twice the number of foreign companies the State attracted the previous fiscal year, and quadruple the number in FY 2008. More than half of the foreign-owned companies have located in the Maryland International Incubator.

To attract foreign-owned companies, the State has opened nine foreign offices since August 2008 on a contingency basis, with any future funding from the State based solely on the individual foreign office representatives’ ability to attract companies and jobs to Maryland. The offices are located in target counties of Japan, Canada, South Korea, Colombia, Sweden, Taiwan, India, Vietnam and the Western Balkans (Montenegro). The State also has three paid foreign offices in China (Shanghai), Europe (Paris) and Israel.

Maryland is well-positioned for growth in the global market, with more than 300 foreign-owned companies from 30 countries currently calling Maryland home. Roughly 105,000 Marylanders, or 3.5 percent of the workforce, are employed by foreign-owned firms, with companies headquartered in the Netherlands, United Kingdom and Germany as the top three foreign employers in Maryland.

Through its main office in Baltimore and 12 offices around the globe, Maryland’s Office of International Investment and Trade works to stimulate foreign direct investment in Maryland, offers export assistance for small and mid-sized Maryland companies and coordinates international trade and investment missions and trade show opportunities for Maryland companies. For more information on Maryland’s international efforts, visit www.choosemaryland.org