Harrisburg - Demonstrating its commitment to providing Pennsylvania businesses unparalleled access to global markets and leading in foreign direct investment (FDI), the Department of Community and Economic Development (DCED) recently introduced Pennsylvania companies to the Saudi Arabia market and earned international recognition for its growth in FDI. 

“Governor Corbett’s commitment to supporting international business development is leading to new investment and job growth in Pennsylvania,” DCED Secretary C. Alan Walker said. “More than 15,000 Pennsylvania businesses currently sell goods and services abroad and nearly 400,000 jobs depend on those exports, so it’s a critical component to our economy.”

Recently, DCED led a delegation of 12 companies on a business development mission to Saudi Arabia, the Middle East’s largest economy. Participants, including representatives from H.J. Heinz Company, Danzer Veneer Americas, Belleflex Technologies, LLC, Philadelphia International Medicine and Susquehanna University among others, recorded nearly 100 leads from the mission. 

The department arranged face-to-face appointments with prospective customers, as well as government, industry and education leaders to assist participants in developing and enhancing business relationships and partnership opportunities. Belleflex Technologies LLC, which specializes in precision processing of heavy gauge cold-rolled strip steel, attended the mission. 

“It was an excellent opportunity for a small company like ours,” said Belleflex Technologies CFO Scott McDowell. “This allows us to begin to learn the market and gives us exposure to potential customers faster than would otherwise be possible.”

Reiner Matthias Leschinsky, a sales representative of the wood processing company Danzer Veneer Americas, encouraged other businesses to participate in upcoming missions. 

“Unless you have personnel onsite in the country or employees from the country, the services that DCED provides are extremely valuable and likely cannot be matched by what one can do from the United States,” Leschinsky said. 

In addition to introducing Pennsylvania companies to global markets, DCED maintains an extensive network of international investment experts who work to attract foreign direct investment in Pennsylvania. More than 6,600 foreign companies currently invest in Pennsylvania, and the state recently earned honors for its foreign investment growth. 

A 2012 report from FDI Intelligence, a division of The Financial Times Ltd, ranked Pennsylvania in the top 15 North American states/provinces for FDI among greenfield projects in 2011. The report noted that Pennsylvania is one of the four fastest growing states/provinces for FDI, with an increase of 29 percent over 2010. 

The May edition of FDI Magazine also touted Pennsylvania’s record levels of FDI, with $5.18 billion-worth of investment – the highest figure since both the international and inter-state greenfield projects started to be tracked in 2006, according to fDi Markets.  The leading sectors attracting investment were business services, financial services and software and IT, which accounted for more than 30 percent of all new investments into the state. 

For more information about the Office of International Business Development or other economic development services, visit www.newpa.com or call 1-866-466-3972. 

Media contact:  Theresa Elliott, 717-783-1132 

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