Scott Hall works for City of Virginia Beach, the largest city in the State of Virginia with 440,000 residents which is nationally recognized as one of America’s top business locations, and also home to one of America’s best beaches. – The first settlers from England the first settlers from England to New Word in 1609 landed in America, at present-day Virginia Beach. They established a business enterprise there. It was The Virginia Company of London, charted by the King of England which was the first step to open up a new markets to England. As a matter of fact, America was founded as a business investment, and the first FDI took place in Hampton Roads, Virginia ! So, we have the experience in business partnerships – explains Mr Hall who a Business Development Coordinator.
-The first thing that you really should do is considering the growth of your business. The Port of Virginia area is the the best palce to do it. Despite the regional and global economic problem it is the best palce for your business to grow. We have implemented or entered into force many trade agreements and the US is really open to do busines all around the word. A location there allows you to be more competetive in the global market place. This is the best place. It is definitely the place that appreciates your investments. You know there are a lot of countries all around the world, a lot of states in America, a lot of cities … , but it this is the best place to be successful. The United States has clear rules governing business, which make for a predictable market. Predictabilty is important. Once you get to know the rules you can operate, you can make money, you can grow your business. When you make business plan it is important not to operate in a place where everything changes all the time. You can also receive full benefit from the transparency of business in the US – says Scott Hall from City of Virginia Beach for Economic Develompent Aliance.
-We are very proud that the first foreign direct investment occured right there, in our homeland, in Virginia. As the first settlers from England to New Word in 1609 landed in America, at present-day Virginia Beach, they settled the first permanent City at Jamestown. They established a business enterprise there. It was The Virginia Company of London, charted by the King of England which was the first step to open up a new markets to England. As a matter of fact, America was founded as a business investment, and the first FDI took place in Hampton Roads, Virginia ! So, we have the experience in business partnerships – he added.
I guess, ‘partnership’ was the most important word for the ‘Doing Business in Virginia’ Conference which was held in Warsaw.
Viginia’s state and local governments are extremely ‘pro-business’, with laws that favor the rights of business to operate and earn a profit. Workers are not ignored, but nor do they obstruct a company’s ability to conduct business. In Hampton Roads, nearly 200 foreign-based companies are already operating successfully. They not only serve US and North American markets, but also other important global markets :
– Stihl, the German-based manufacturer of premium power tools, started their US headquarters in Virginia Beach in 1978 with 10 people. Today, they employ more than 2,000 workers in over 330,000 square meters of space, and export over 50% of the product made in Virginia to China,
– IMS Gear, based in German state of Baden-Wurttemberg, has been manufacturing automotive parts in Virginia Beach for 20 years. They recently shifted production from a facility in Mexico to Virginia Beach because of better costs and higher quality – they now export back to Mexico from Virginia,
In assessing whether a company is positioned to successfully compete in the US market, it is important to know where the significant long term business opportunities exist. Advanced manufacturing is one of the fastest growing FDI sectors in the US.
In addition, according to the Deloitte & Touche US Market Outlook, there are 5 major business areas in the US expected to support long-term growth, and the Virginia Beach/Hampton Roads region matches well with all of them:
– Office services/Financial services: 4 Fortune 500 HQ in Hampton Roads (health services, food processing, retail and railroad)
– Science & Engineering: NASA Center of Excellence for Composite Materials; Jefferson Lab Free Electron Beam Accelerator; CyberWarfare
– Advanced Manufacturing: Northrop Grumman; Stihl; Huntington Ingalls Shipyard; Lockheed; L3
– Energy/Alternative Energy: offshore wind; offshore oil & Gas
– Biomedical/Healthcare Services: EVMS; LifeNet; Hampton University.
Maya M. Kowalczyk
Source : Based on presentation ‘Doing Business in the USA. New Opportunities Through Trade, Joint Venture and Business Location’ delivered by Mr Scott Hall during ‘doing Business in Virginia’ Conference.