The International Business Office (IBO) assists business owners, corporate executives, investors, and entrepreneurs with export and import issues. Join the International Business Office of Riverside County as they host the International Business Academy. Riverside International Business Academy will begin on April 27, 2022, to raise awareness about worldwide business expansion.
We Covered this in our Weekly Wire Roundup
About International Business Office
The logistics and supply chain market is projected to grow significantly over the next decade. According to Research and Markets, the post-COVID-19 global market is projected to increase by 17.6% from $2.73 billion in 2020 to $3.22 billion in 2021.
In the Inland Empire, the region’s future has become linked with this projected growth in logistics in many ways.
The Riverside County’s International Business Office can help you with international investment, exports, underwriting, financing through the US Export-Import Bank, EB-5 Regional Investment Centers and programs, and international investment programs in other countries. To boost commerce and investment and foster long-term global alliances that assist the private sector in creating employment and investment in Riverside County, the International Business Office also manages the county’s official diplomatic relationships with 180 nations.
The IBO’s United States Export Assistance Centers, Foreign Agricultural Services, United States Chambers of Commerce operating abroad, United States Commercial Service, Foreign Trade Offices, and investors from other countries interested in establishing a business location in Riverside County serve as links to developing and existing markets overseas.
IBO is also directly responsible for government-to-government relations with the Organization of American States, the United Nations, and all nations and governments legally recognized by the United States of America in economic development, commerce, tourism, and goodwill building. IBO is conveniently located inside Business & Community Services, allowing it direct access to the substantial resources, support, and help provided by the department’s staff of highly devoted specialists.
Riverside County International Business Academy
Riverside county international business academy is starting on April 27, 2022.
The following topics will be covered:
- Supply Chain Resiliency
- Foreign Trade Zones
- United States-Mexico-Canada Agreement
This session is ideal for anyone interested in opening their own business and expanding it globally as an entrepreneur.
Depending upon availability, people are welcome to attend the webinar virtually or in person.
Register for the webinar here.
International Trade Quick Facts
- There are 633 enterprises from all over the world in Riverside County.
- In Riverside County, foreign-owned businesses employ roughly 19,000 people and pay an estimated $937 million in compensation.
- The Riverside MSA is one of the top 15% export regions in the United States.
- Their export growth rate has been higher than the national average, at 11.0 percent;
- Mexico, Canada, China, Japan, and the Netherlands are Riverside MSA’s top five export destinations.
About Foreign-Trade Zones
For customs reasons, U.S. Foreign-Trade Zones are considered outside of U.S. trade. This allows businesses to postpone paying duty on goods until sold in the United States. If the goods are later re-exported from the FTZ, no Customs entry is lodged, and no duty is paid. The United States Foreign-Trade Zones program benefits American manufacturers and distributors, many of which are not accessible in other countries’ free trade zones. Merchandise in a zone can be constructed, displayed, cleaned, manipulated, made, mixed, processed, relabeled, packed, mended, salvaged, sampled, stored, tested, presented, and destroyed.
If you want to expand your product business globally, then these news articles will keep you updated about the things happening in the logistics and distribution space.