North Dakota companies pursuing global markets are often challenged to find a starting point and a strategy to successfully export. These companies greatly benefit from outside expertise and instruction on how to find international opportunities that are right for them. Such challenges and solutions are approached in the upcoming ExporTech program.
Fisher Industries of Dickinson, ND started from meager beginnings on a family farm in southwestern North Dakota, and has since grown into a diversified company with 8 divisions in 7 states and dealers all over the world. What was once a small aggregate operation has evolved into a business capable of massive earthwork projects, including building the world’s largest cathedral arch bridge in 2012 over the Galena Creek in Washoe County, Nevada.
The Export-Import Bank of the United States (Ex-Im Bank) is the official export credit agency (ECA) of the United States. Export credit agencies – which approximately 60 countries have – are institutions that provide non-payment insurance and finance guarantees to businesses selling their products overseas. Ex-Im Bank provides U.S. companies accounts receivable insurance in the event of foreign buyer non-payment, loan guarantees to encourage U.S. banks to provide working capital financing to U.S. exporters, and extended term financing to foreign companies purchasing U.S. made capital equipment. These financial products serve the purpose of minimizing non-payment risk in foreign markets to facilitate the extension of credit to foreign buyers – something that private banks may not want or are unable to do – in order to increase the competitiveness of U.S. companies.
Valley Express, Inc. announced last week that they have expanded their service offerings to benefit both importers and exporters. The freight management company headquartered in Fargo, along with their international freight transport division Valley Worldwide Logistics Solutions, has added additional transportation features tailored to North Dakota customers.
At the start of each fall and spring semester on college campuses, students are heading into classrooms expecting to learn something new and interesting. When they enroll in the Export Management Course, they get that and much more. Sitting beside them are employees from local companies that will work with them and offer real-life experiences. These businesses, their people, and what they do are incorporated into the curriculum.
A delegation of nine Belarusian government and business leaders toured North Dakota last month to meet with North Dakota government officials and agricultural specialists. Meeting discussions focused on the emerging opportunities between the Mogilev Region of Belarus and North Dakota in business development and education. This tour was organized by the North Dakota Trade Office (NDTO) after originating with Brandt Holdings of Fargo.
NDTO Member Profile: John Deere Electronic Solutions’ Products hold up to Challenging Environmental Conditions, Standards
When your job is to operate heavy construction equipment, you’re sure to be working in some difficult environments. You’ll face severe heat, cold, pouring rain, wind and rugged terrain. Perhaps your motto is “There is no such thing as bad weather, just bad clothing” as the old Scandinavian proverb goes. You just put on your Carhartts and tough it out. You also need to have tough equipment that is prepared to work in those same conditions. Wind, rain, extreme temperatures and rough ground are hard on equipment, too. And if you’ve invested in some high-end machinery with advanced electronic components inside, you may wonder if those will hold up to the elements, as well. For Fargo’s John Deere Electronic Solutions (JDES), these situations are their specialty.
The North Dakota Trade Office (NDTO) led a delegation of five North Dakota pulse and dry bean processors to Colombia on April 6-10. Companies met with potential buyers in the cities of Bogotá and Medellín. This was the fourth North Dakota trade mission to Colombia.
In recent months, U.S.-Cuba relations have rapidly thawed. Late in 2014, the administration announced efforts to normalize relations with Cuba and supported ending the embargo on trade with Cuba that has lasted more than 50 years. Since then, the U.S. has expanded its diplomatic presence in Cuba, and provided more flexibility for U.S. banks to do business with Cuba. Many in Congress are now working together in support of measures that will normalize trade relations with Cuba.
Press Release: Superior Manufacturing, Four Anchors Worldwide, Hoffmann Angus Farms, Receive Global Business Awards
Superior Manufacturing, a family-owned and operated grain bin manufacturing company headquartered in Kindred, ND, was named North Dakota’s 2014 Exporter of the Year on Thursday for their international expansion and support to the state’s export community. Four Anchors Worldwide, an international marine insurance broker, received the 2014 Service to Exporters Award for their dedication to assisting North Dakota exporters. Hoffmann Angus Farms was recognized as a North Dakota Trade Office Global Ambassador in consideration of their hospitality to North Dakota businesses conducting international trade. Lt. Gov. Drew Wrigley presented the awards during the Global Business Awards ceremony, the annual international business event hosted by the North Dakota Trade Office (NDTO).