Largest-Ever Illinois Delegation to Israel Will Take Part in Week-Long Trip to Increase Trade Opportunities, Including the Prime Minister’s “Gateway to Israel” Conference
CHICAGO ¬– Gov. Rod R. Blagojevich and the Chicago Israel Businesses Initiative (CIBI) are partnering together once again to lead an Illinois delegation to Tel Aviv, Israel for a week-long trade mission filled with conferences and activities to develop ties and opportunities between mission participants and Israeli businesses and institutions. The mission, which runs from November 6th-13th, includes participants from 19 Illinois firms and organizations and makes up the largest ever Illinois delegation to Israel. Participants will take part in the Prime Minister’s three-day “Gateway to Israel” conference, as well as other industry-specific meetings. The mission will also include an “Invest in Illinois” seminar in Tel Aviv and Haifa to attract Israeli firms interested in locating new facilities in Illinois. The mission is co-sponsored by the Illinois Department of Commerce and Economic Opportunity’s (DCEO) Office of Trade and Investment (OTI). This mission marks the State’s third visit to Israel in the past year and the second partnership with CIBI.
“Illinois and Israel have cultivated a strong and vibrant partnership that is helping to open doors and increase opportunities across technology, education and commercial sectors. This trade mission to Israel is another demonstration of the many synergies and potential collaborations that exist between us. As the global economy continues to evolve, we must continue establishing these partnerships for Illinois companies to build relationships across the globe that will create more jobs here at home. Through the work of the Chicago Israel Business Initiative and our Office of Trade and Investment, we are doing just that,” Gov. Blagojevich said.
The mission kicks-off with a State of Illinois reception on November 6th, sponsored by DCEO-OTI, where more than 100 representatives are expected from Israeli industry, governmental agencies, academia and the health sciences. The Prime Minister’s Conference, where the State of Illinois will have a booth, will provide an opportunity for networking with hundreds of Israeli companies, governmental institutions and organizations, both domestic and international. Mission participants will also take part in industry-specific events, including a telecommunications trade show, venture capital networking reception, a tour of Hebrew University, as well as arranged one-on-one and small group meetings with potential Israeli trading partners and Israel-based businesses considering Illinois as the place to establish their North American headquarters.
Mission participants represent industries, which include: finance, homeland security, health care, investment banking, professional services and telecommunications. Additional mission co-sponsors include World Business Chicago, Bank Leumi, Schwartz Cooper Chartered, IDT Ventures, and Mayer Brown Rowe and Maw.
The Chicago-Israel Business Initiative, a project of the America-Israel Chamber of Commerce (AICC), is designed to encourage Israel-based businesses to expand internationally and to locate their North American headquarters in the immediate Chicago area. Through initiating trade missions to Israel, CIBI conducts presentations and facilitates one-on-one meetings with appropriate business and trade organizations.
Gov. Blagojevich celebrated the most recent trade mission to Israel in June, where the State of Illinois signed a Declaration of Cooperation to encourage industrial R&D cooperation in biotechnology, homeland security, life sciences and related sectors. As part of this effort, Illinois and Israel have developed the Illinois Business Applied Science Exchanges (IBASE) program, a new mutual exchange program that will make it possible for Illinois-based industry leaders to work in R&D settings in emerging markets, as well as for researchers and scientists from those markets to work in Illinois corporations for 3, 6 or 12 months. This mission will advance this collaboration with meetings between Israel’s Chief Scientist and officials at Hebrew University. The IBASE program will commence later this month with the visit of some Israeli professors to Illinois to discuss best practices in the technology field.
“The Chicago-Israel Business Initiative was created to enhance the business opportunities that exist between our two areas and to build a stronger collaboration that will result in fruitful exchanges. Israel has a $100 billion economy with the highest per-capita number of start-up companies and the third highest rate of entrepreneurship, so the opportunities abound for Illinois as a commercial partner. This mission is another way to tap into these potential partnerships, and we appreciate Gov. Blagojevich for his continued support,” said Mona Pearl, Co-Chair and Founder of the Chicago-Israel Business Initiative.
“Illinois is very proud to have a strong partnership with the State of Israel, and this trade mission is helping to deepen these ties and pave the way for stronger collaboration and increased business investment. Illinois and Israel both possess rich research and development and business resources, and Gov. Blagojevich and I are excited about the possibilities that will result from our many collaborative endeavors,” said State Senator Jeff Schoenberg (D-Evanston), who was a part of the trade mission to Israel in June.
“To grow the regional and statewide economy, we must continue to look beyond our borders, and, through our continued efforts with Israel we are establishing a long-term partnership that will pay important economic dividends for Illinois. This trade mission is allowing Illinois firms to network, find business partners, share research and development activity and establish ties for even more collaboration down the road,” State Senator Ira Silverstein (D-Chicago) said.
“It’s clear that Illinois and Israel share a tremendous partnership that is only getting stronger through trade missions like these, which is bringing together the largest Illinois delegation across a variety of sectors. My thanks to Gov. Blagojevich, the Chicago-Israel Business Initiative and all of the mission co-sponsors for advancing these efforts to create more business opportunities that will create more jobs and business here in Illinois,” said State Representative Lou Lang (D-Skokie)
“Through these types of important trade missions, Gov. Blagojevich and I look forward to working with more foreign delegations and promoting Illinois’ tremendous resources and opportunities for companies to grow and expand,” DCEO Director Jack Lavin said.
Gov. Blagojevich recently announced that Illinois’ exports continue to show significant growth, with more than $27.3 billion in exports reported for the first seven months of 2006, a nearly 17 percent increase from the first
seven months of 2005. In 2005, Illinois exports were up almost 19 percent, which was the greatest one-year increase in 10 years. Illinois is the fifth largest exporting state after Texas, California, New York and Washington. Since 2002, Illinois exports have grown by more than $10 billion, a 40 percent increase, which is the largest percent increase among the top exporting states. Illinois exports to Israel are already up $7 million for the first half of 2006 compared the same point last year. Top Illinois exports to Israel are computer and electronic products, machinery and chemicals. This data is complied by WISER, the World Institute for Strategic Economic Research, who puts together its data from the US Census Bureau, Foreign Trade Division.
The state was ranked fifth in the nation in jobs created by foreign investment in a recent study by the Organization for International Investment released in September. This investment has created nearly 236,000 Illinois jobs, which represents nearly 5 percent of the state’s private-sector workforce.
DCEO offers a variety of export development assistance programs to help Illinois companies identify new markets and locate distribution channels for their products and services abroad, including trade missions to targeted foreign markets. Trade missions provide small and medium sized companies in Illinois with an avenue to export their products and services by directly engaging foreign buyers, agents, distributors and/or joint-venture partners and providing additional in-country support. Under Gov. Blagojevich, DCEO has led 41 foreign trade missions, which includes 19 already in 2006 with an additional 18 planned for the rest of the year and into 2007. This total is more than any previous administration. These missions have hosted more than 190 participants and have included trips, often multiple times, to countries such as Australia, Canada, Chile, China, Germany, India, Israel, Japan, Mexico, Poland, Spain and South Africa.