For more than a century, Washington State has attracted leading global businesses. Today, it continues to nurture significant partnerships with foreign investors by highlighting the benefits of doing business in the state, which include its huge population of workers (3.5 million), easy access to international markets through 75 ports and 139 airports, business-friendly policies, and tax incentives.
However, the Washington State Department of Commerce recognizes that publicizing the vast business opportunities in the state of Washington is only half the battle. The other half of its successful strategy is building personal relationships, the department says.
On its website, the Department of Commerce adds that even though relationship-building can take years or even decades before seeing any return, its FDI team has made solid inroads over the last few years through international trade missions.
“Trade shows and missions are critical tools for marketing the state. As much as technology has changed the way business is conducted, many cultures still require that face-to-face interaction that comes through marathon business meetings,” the department stressed.
Since 2013, the Office of the Governor has led 12 trade missions to several countries, including Japan, France, Korea and Mexico. Meanwhile, Washington has received more than 200 trade, education and government delegations from more than 30 countries over the last 10 years.
The Department of Commerce shared that it works closely with multiple stakeholders, including the Governor’s office, state representatives and economic development organizations, to organize these international delegations to optimize results.
“Even in an age of instantaneous digital communications, nothing beats face-to-face interaction with key decision makers,” said Washington State Department of Commerce Director Mike Fong in a press release.
Washington Gov. Jay Inslee agrees: “People-to-people connections allow new ideas to find their way to the marketplace and revolutionize industries quickly.”
According to the Washington Office of Economic Development and Competitiveness, more than 800 multinational businesses are headquartered in the state today and employ more than 160,000 workers.
