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Economic Vitality Final 10-26-11 -   2.1.a - Export assistance - Commerce

 
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Economic Vitality Final 10-26-11
1. Employment & Worker Services
2. Economic Growth & Development
3. Economic Foundation
4. Business Relations
Action Plan
  
 
 

2.1.a - Export assistance - Commerce
Export sales reported 

 
 
 
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Data Notes
Data Source: Business Services Division performance management database
Measure Definition: Export sales reported by Commerce-assisted companies following the first sale in the market for which they received assistance.  Totals reflect the quarter in which sales are reported.
Target Rationale: FY10 targets were slightly reduced to reflect budget reductions of approximately 30%.  In support of the National Export Initiative, targets were increased for FY11, FY12 and FY13.
Link to Agency Strategic Plan: Supports strategic goal to:  Retain, grow and attract businesses by improving and communicating Washington's competitive advantages.
Relevance:

Export sales to overseas markets diversify the state's economy.

Notes: (optional)
Also Available

 

Action Plan: Yes
Extended Analysis: Yes 

 Summary Analysis

  • Total of $147.5 million in assisted export sales for FY11, greatly surpassed the fiscal year goal of $60 million.
  • Washington companies reported $86.8 million in Commerce-assisted sales for Q4 of FY11. Eighty-five percent, or $73.8 million, of Q4 sales are due to sales reported by one medical device company, following joint assistance from the U.S. Commercial Service and Commerce over a one-year period, for three international markets.
  • Our specific assistance with the medical device company related to helping the client undertake due diligence to assure its international distributors were in compliance with the Foreign Corrupt Practices Act. The client makes portable ultrasound systems used by hospitals and for emergency field operations. This was a joint effort with the US Export Assistance Center in Seattle.
  • The Export Finance Assistance Center of Washington (EFACW) provided financial assistance to companies that supported  over $6 million in exports in Q4.
  • We've seen outstanding resutls in FY 11.  We often work with a client for a couple years before they begin exporting (pipeilne).  It is important to note that the Trade budget and FTE have been cut by about 50% in recent years. 

Click here to view data analysis on Tradable vs. Non-Tradable sectors

Click here to see WA State Export Vignettes

Updated 8/30/2011