The world is interconnected, and events on one part of the globe can often have ripple effects on local economies that export crops or minerals. Prices could slip. Prices could spike. This is a reality for several Nevada counties, where dominant industries include mining and agriculture. In fact, two Nevada counties — Eureka and Lander – are among the most export-dependent counties in the U.S., according to an analysis by Pew Research Center.
Many Nevada companies are missing out on opportunities to grow their business and increase revenues because they don’t think about exporting their goods and services abroad. That’s the message of Kristopher Sanchez, director of international trade with the Nevada Governor’s Office of Economic Development. Sanchez spoke at a roundtable sponsored by the Urban Chamber of Commerce in Las Vegas and encouraged companies to go on a trade mission to Australia in July. The deadline to apply is May. 20.
Nevada businesses ready to export may take advantage of revenue growth consistent with the increased export of “Computer and Electronics Products” each year since 2011. In 2013, U.S. exports neared $2.3 trillion and in 2014 U.S. exports accounted for $2.34 trillion. A nominal increase when speaking in terms of trillions; however, consider Nevada’s growing contribution.
Excellent export advice from NCET member Robert Francis. Robert Francis is president of Core4 Consultants in Reno. Contact him at 775-853-9480 or Robert.Francis@core4consultants.com. This column first appeared in the Northern Nevada Business Weekly. One of the fascinating opportunities for companies in Nevada to increase their market share, increase profits, and increase jobs is by exporting […]