Global trade is growing at a faster rate than U.S. markets. Every $1 billion in exports supports an estimated 5,590 jobs or every additional $175,000 in exports creates one new job.
The goal of the Global Cities Initiative is to help key U.S. metropolitan regions strengthen their economies through greater engagement in world markets, with a focus on exports.
Northeast Florida is bringing together the region’s trade, economic development and political leaders to boost exports of locally produced goods and services. The potential outcome of this initiative could result in an additional $8 billion in economic benefit and an additional 44,000 new jobs for the region.
Regional leaders have started the process with an in-depth Market Assessment of export activity to establish a strategic baseline of the status of exporting within the region and for building a strategic plan.
The Export Plan, to be released in March, will illuminate current export activity and practices and to build a base of knowledge from which to begin creating strategies and programs to foster and promote exports in the region.