A quick glance at the label of my spring coat takes me half way around the world to Malaysia. Come to think of it, I could easily travel to ten or twenty countries by simply reviewing the components in my cellular phone. This phenomenon is often referred to as globalization, and it entails much more than the movement of production facilities to low-cost regions. It about exercising trust between multiple parties who were raised in extraordinary cultures, speak different languages, and most importantly – manufacture the physical components of our life.
According to the Bureau of Economic Analysis, China was the second fastest growing source of foreign direct investment (FDI) into the United States from 2008-2012. It’s no surprise that Chinese firms want to invest here to access the large and growing U.S. consumer market. More than ever, Chinese firms are interested in joining established industry clusters to locate in close proximity to U.S. suppliers, hire a skilled workforce and capitalize on their innovations.
On April 5th, 2014 Supervisor Antonovich led a team of local economic development professionals to China. As the driving force behind many trade missions to Asia, the Supervisor reinforced the Santa Clarita Valley’s enthusiasm to build trade relationships with firms in Shenzhen, Hong Kong and the greater Chinese market.
The trip was designed to build relationships with companies that are expanding into the U.S. market. The team is busy translating their economic development guidebooks to clearly articulate how expanding companies can build a physical presence in the Santa Clarita Valley. The team will participate in an Investors Conference, where Chinese business leaders will learn about the opportunities to reach the U.S. market.
The economic development team here in the Santa Clarita Valley is hammering out an “international soft-landing toolkit” that will welcome foreign direct investment. The toolkit is designed to compliment Supervisor Antonovich as he continues to lead a collaborative economic development strategy with global perspective.