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Trade agreements and increased exports are vital to U.S. businesses, workers, and farmers, as 96 percent of the world’s consumers live outside the United States.
Utah exported nearly $8 billion in manufactured goods to the world in 2007. .” Many of our local businesses export their goods abroad from Tahitian Noni drinks to dresses from Little Things Mean a Lot. Additionally, the internet enhances local companies like Move Networks and Orange Soda to market their services by streaming video and online advertising to a worldwide audience.
Did you know?
Trade benefits small businesses in Utah:
*85% of the nearly 2,300 Utah companies that exported goods in 2006 were small and medium-sized enterprises with fewer than 500 employees.
Trade supports jobs in Utah:
*In 2007, Utah-produced manufactured goods generated more than 127,600 jobs for workers in Utah.
*Utah businesses added $7 billion to the local economy in 2005 by purchasing local goods allowing them to export manufactured goods to customers worldwide.
*Export-support employment related to manufactured goods accounts for nearly 1 of every 16 private sector jobs in Utah.
Trade benefits Utah agriculture:
*In 2006 Utah’s agricultural exports were estimated at $304 million.
*Utah’s top agricultural exports in 2006 was wheat, followed by hides and skins, live animal and red meats, feeds, and dairy products. (Information provided by TradeRoots form the US Chamber of Commerce)
Our own Governor Jon Huntsman has said, “In China, we are there simply because of their prominence on the world stage and the way in which they are growing so rapidly. We need to understand and capture those emerging opportunities.” So whether you are a small or large business the world is your marketplace!!