(Caption: Conley Terminal, Photo Courtesy of Massport)
What do medical devices, semi-conductors, turbojets and fish oil have in common? They are all “made in Massachusetts” products that are exported and sold in 234 countries around the world.
Exports are an important component of the Massachusetts economy; in 2013 we shipped $26.8 billion worth of merchandise outside of our borders. That’s an increase of 4.6% from 2012, according to statistics compiled by the US Census Bureau and recently released by the International Trade Administration.
That’s good news for the 9,000 Bay State companies that export, says Paula Murphy, Director of the Massachusetts Export Center, adding that more than 90% of those companies are small and medium businesses.
The Center is the state’s one-stop resource for export assistance, providing one-on-one technical assistance to Massachusetts businesses, and offering them customized solutions to grow their export capacity. It offers a range of services, such as regular webinars, workshops, and certification programs for getting into the export business.
The Center is part of the Massachusetts Small Business Development Center Network, which has offices around the state.
The increase in exports is another sign that the state’s economic development strategy, Choosing to Compete in the 21st Century, continues to pay dividends. Having worked its way through the recession of 2008 quicker than most other states, Massachusetts is poised for significant growth, as long term investment in education, innovation and infrastructure continue to strengthen our economy.
The international market is a big part of that growth potential. According to the 2013 statistics, Canada is our biggest buyer, purchasing $3.7 billion of our goods, followed by China ($2 billion), Mexico ($1.86 billion), Germany ($1.85 billion), and Japan ($1.8 billion).
Massachusetts enjoys a strong brand across the world, thanks to our longstanding traditions of commerce and trade, the reputation of our colleges and universities, medical and research institutions, our cultural richness, and our attractiveness as a vacation destination. In recent years, our innovation economy has also emerged as one of the defining characteristics of what makes Massachusetts so special.
For more information about the Massachusetts Export Center and how it can help your business, contact Paula Murphy at Paula.Murphy@state.ma.us