Governor Patrick Kicks Off Massachusetts International Trade and Investment Forum

Press Release

Governor Deval Patrick today addressed business leaders, investors and innovators with ties to international trade and investment at the Massachusetts Office of International Trade and Investment (MOITI) "Strengthening our Global Ties to Create Growth and Opportunity in Massachusetts" forum to promote the vibrant international trade and investment landscape of the Commonwealth.

"Massachusetts is already a national leader in the innovation economy, but we can't compete by just looking inward," said Governor Patrick. "In order for Massachusetts to create lasting growth and opportunity for our residents, we must compete for jobs on the international playing field and the work we've accomplished over the last eight years has raised the Commonwealth's profile in the global arena."

Today's forum featured a discussion by CEOs of international companies, higher education officials and state and private agencies relative to the successes and economic development opportunities that have been created through increased international engagement since Governor Patrick took office. Boasting one of the most talented workforces in the world, Massachusetts continues to be a leader in innovation and entrepreneurship. Today's forum featured leaders of the Commonwealth's world class entrepreneurial ecosystem offering a unique perspective on how innovative uses of space can spur entrepreneurship and lead to international investment. Panel discussions showcased the Commonwealth's most competitive sectors including education, innovation and infrastructure. The education panel championed initiatives undertaken by Massachusetts and area colleges and universities in support of intellectual capital, international student retention and global engagement in Massachusetts, featuring leaders of Massachusetts educational institutions.

The afternoon session brought together prominent leaders of international companies that have launched operations and created jobs in Massachusetts in addition to Massachusetts companies that have led international expansion from Massachusetts to foreign markets. Takeshi Komoto, Executive Director, JETRO New York attended today's forum. Governor Patrick signed an Memorandum of Understanding (MOU) with JETRO in June 2014 following the Governor's successful Massachusetts-Japan Innovation Partnership Mission in December 2013 to strengthen trade and investment partnerships between Massachusetts and Japan and promote economic cooperation.

Since taking office, Governor Patrick has led coalitions of the Commonwealth's leaders from business, academic, financial services and cultural sectors to 14 countries including the United Arab Emirates, China, Japan, Hong Kong, Singapore, Israel, the United Kingdom, Ireland, Canada, Mexico, Panama, Colombia, Chile and Brazil. These missions focused on expanding opportunities for job creation and partnership in the life sciences, IT, water technology, clean energy, transportation and education sectors and have produced tangible positive economic results for residents and businesses across the Commonwealth.

These missions have strengthened relationships with key global centers of growth, fostered new partnerships and promoted Massachusetts as a premier destination for foreign direct investment. Following the Governor's mission to Israel in 2011, Israeli biotech firm EarlySense announced new jobs in Massachusetts and established its U.S. headquarters in Waltham. Israeli company Desalitech, Ltd., a provider of advanced water treatment solutions, also moved its headquarters to Newton. Desalitech was named in the 2013 Global Cleantech 100 as a top company in clean technology. The 2011 mission to Israel also helped launch and coalesce the Commonwealth's water technology sector, solidifying this important cluster in Massachusetts. Earlier this year, following the Governor's Massachusetts-Japan Innovation Partnership Mission in December 2013, Governor Patrick signed a Memorandum of Understanding (MOU) with Kanagawa Prefecture Governor Yuji Kuroiwa to expand collaboration between Massachusetts and Japan's Kanagawa Prefecture in the innovation economy, with a focus on growing jobs and opportunities in the areas of life sciences, big data, clean energy, robotics and healthcare information technology.

During the recent Innovation Partnership Mission to the UK, GE Healthcare North America announced plans for the company to open a new $21 million U.S. Headquarters in Marlborough in the spring of 2015.

"MOITI is very pleased to have hosted today's international trade and investment forum presenting the Commonwealth's global engagement strategy which has yielded tremendous growth in the State's export economy and foreign direct investment in Massachusetts over the past 8 years," said Richard Elam, Executive Director of MOITI.

"AIM has participated in seven international trade missions led by Governor Patrick. We have seen first-hand the value of meeting face-to-face in overseas markets with customers, government and industry officials, and potential clients and partners," said Kristen Rupert, Executive Director of the Associated Industries of Massachusetts International Business Council. "For many Massachusetts companies, especially manufacturers, future growth will come from international markets, particularly emerging economies. To grow there, you have to first go there."

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