has implemented a system of licensee grants through its Centers of Excellence program. Since 2007, private sector businesses, including startups, have received grants from the state to aid them in bringing technology developed at the state’s universities to market, creating new products, companies, and spurring job creation in the technology sector. The state has rolled out aggressive tax credits focusing on reducing risk for investments in research and start-up companies. 9. Colorado - A major focus of Colorado’s innovation agenda has been the development of a “New Energy Economy”—to spur research innovation, Colorado has adopted an Innovation Investment Tax Credit pilot program that provides an income tax credit of up to involved in research and development. 10. Virginia - The Virginia Innovation Program (VIP) is a $2 million innovation program launched by the state to fund translational research. The Commonwealth provides $1 million in funding with the additional $1 million representing the funds or assets each institution intent is to increase licensing opportunities and to encourage corporate partnerships and sponsored research opportunities.
Exports and International Trade More than 50 million American workers are employed by businesses that export, according to the U.S. Department of the Treasury. One in four manufacturing jobs depends on exports, and one in every three acres on American farms is planted for export markets. Whether businesses are large faster, hire more, and pay better wages than those that do not. Our neighbors in the Americas—Canada, Latin America, and the Caribbean—purchase over 42 percent of U.S. exports, and Europe and East Asia each account for a 25 percent share. Capital goods have historically been the largest category of U.S exports, including automobiles, engines, parts, and industrial equipment. Exports to China of management, consulting, and public relations services increased by 36 fold from 2002 to 2008. Our exports to India in construction, architectural, and engineering services increased 39 fold over the same period.34 More than a quarter million of America’s small businesses export, and they account for nearly a third of U.S. merchandise exports, but that’s just one of every 100 16
companies. There is ample opportunity to create new jobs by helping America’s small businesses start exporting contacts they need to sell overseas. Most states promote the expansion of exports either in-house component of their economic development agency. The focus of these state initiatives is to facilitate accessing the global marketplace by providing training and assistance, building international trade relationships, and advocating the importance of international trade among the business community.
Top Exports Performers Export measurements track manufactured exports in the state of shipment origin, excluding bulk commodity exports usually attributed to the state of port location. High performing states are based upon the value of exports as a share of total economic output, change in export value as a share of economic output, change in a state’s share of the nation’s total exports, and overall export growth 20022009. 1. Louisiana – Louisiana placed in the top eight states for all four export measures. Exports spiked along with growth in the energy economy, including small manufacturers producing industrial equipment. The state’s exports to China totaled $5.4 billion in 2009, up more than 50% over 2008. 2. South Carolina – To enhance exports, the state has developed a Port Volume Increase Credit that provides a discretionary tax credit for certain industries that increase use of South Carolina ports. The Port Volume Increase Credit is available to manufacturers, warehousers, and distributors that use South Carolina port facilities and increase base port cargo volume by 5% over base-year totals. 3. Utah – Utah places in the top ten for all four export metrics. With over 2400 businesses engaged in international trade, the state has been among a handful of states leading the way in export growth. The World Trade Center Utah, in partnership with the Salt Lake Chamber of Commerce and the a “support organization”, connecting companies in Utah to international markets, providing training, identifying opportunities, and establishing networking opportunities through the Utah International Trade Hub.