The Team Canada Atlantic (TCA) follow-up trade mission to Chicago, Illinois concluded today with high marks from participating companies. After three full days of meetings with potential agents, brokers, distributors, and strategic partners, the 30 Atlantic Canadian companies and organizations emerged from Chicago with solid leads for potential business partnerships and export sales.
“We can say without a doubt that returning to Chicago for a follow-up mission was the right strategy for Team Canada Atlantic,” said the Honourable Joe McGuire, Minister of the Atlantic Canada Opportunities Agency (ACOA). “Our goal was to help companies taking part build on the momentum of the first mission held in April and continue to promote Atlantic Canada as an attractive investment location. We have done what we came here to do and we remain very optimistic about the positive business relationships that have been reinforced over the last four days.”
Senator James S. Cowan took part in the mission on behalf of Minister McGuire.
“Once again our Island participants have made impressive strides in export markets during a trade event,” said the Honourable Mike Currie, Minister of Development and Technology. “Traveling to Chicago is allowing PEI companies to expand their business potential and explore new avenues of opportunities. Our province has long enjoyed positive business relationships with US companies and Chicago is no exception.”
During the trade mission, business delegates and officials participated in a comprehensive program that included one-on-one business meetings and several roundtable discussions.
Team Canada Atlantic companies and organizations participated in more than 189 formal business meetings with Chicago business contacts.
The mission focused on developing opportunities for enhanced export business for Atlantic Canadian companies in the areas of advanced manufacturing; agriculture, agri-food and seafood; building and construction products; consumer products; information and communications technology; and life sciences.
“This is my second trade mission to Chicago as it makes good business sense to explore outside markets,” said Vision Research President Doug McMonagle. “There is a lot of opportunity out there and it is important to meet with potential customers face-to-face. These missions help companies like mine break into new markets, which allow us to know whether it is a market that can be a lucrative one for us to pursue.”
Team Canada Atlantic is a partnership of ACOA, Agriculture and Agri-Food Canada, Industry Canada, Foreign Affairs Canada, International Trade Canada and the four Atlantic provinces. Team Canada Atlantic is committed to strengthening the trade and investment relationship between Atlantic Canada and the United States.
Trade missions have been at the core of the Team Canada Atlantic approach since 1999. Ten trade missions to the New England states, Atlanta, New York, Washington D.C., and Chicago have helped 329 Atlantic Canadian entrepreneurs to meet with more than 2,750 buyers, agents and business owners from across the United States, resulting in export sales of more than of $36 million.
BACKGROUNDER
Team Canada Atlantic Tier One Mission to Chicago (April 10-14, 2005)
-93 per cent of participants rated the mission as successful.
-92 percent of participants indicated that they anticipate sales over the next two years as a result of the mission.
-89 per cent said they planned to return to Chicago to further pursue the market.
-83 per cent indicated an interest to attend another TCA mission to the United States within the next two years.
Trade and Investment
-Canada and the United States share the world’s largest and most comprehensive trading relationship, which supports more than two million jobs in both countries.
-Approximately C$1.8 billion in trade crosses the Canada-U.S. border every single day.
-More than 80 per cent of Atlantic Canada exports are destined for U.S. markets. Exports create one out of every three new jobs in Atlantic Canada, and for every $1 million in exports, 8 to 11 full-time positions are sustained.
-The United States is the largest foreign investor in Canada and the most popular destination for Canadian investment.
Chicago
-Chicago is the third largest metropolitan area in the United States. It is home to more than eight million people and 200,000 businesses.
-Chicago’s main industries are financial services, transportation, business services, government services, technology and retail.
-Chicago is home to numerous Fortune 500 firms such as Boeing, Sears, Deere & Co., Motorola, Allstate Corp., Caterpillar and United Airlines.
-Chicago has two airports which process 83 million passengers a year. In addition, Chicago is home to the largest rail center in the U.S.
-An estimated 75% of the U.S. population can be reached by truck within two days from Chicago.
-In 2003, Atlantic Canada sold $255 million worth of goods to Illinois, $30 million to Missouri and $131 million to Wisconsin for a total of $416 million for the U.S. Midwest.
Sources: Trade Data Online (strategis.ic.gc.ca), InfoExport, the Canadian Consulate General in Chicago and World Business Chicago (worldbusinesschicago.com)