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If companies in the Tampa Bay area were to look farther afield for new markets, it could stimulate sales and strengthen the region's economy, according to the Tampa Bay Partnership.
The partnership, which conducts research and promotes economic development, has launched a survey to gather information about the export habits of regional businesses, and to define challenges that prevent firms from expanding into the international arena. Businesses wishing to participate in the survey can visit www.globaltampabay.com.
“The majority of businesses do not export, and the ones that do, export to just one country,” says Dave Sobush, vice president of regional business planning and development for the partnership. “In a nutshell, 85% of the world's consumers don't live in the United States. So there are 85 customers abroad for every 15 in the U.S,” he adds.
Tampa Bay was chosen to be among the urban areas in the first cohort of the Brookings Metropolitan Export Exchange, as part of the plan to study export patterns and develop ways to stimulate new market growth.
The exchange was developed in connection with the Brookings Institution, a nonprofit public policy group based in Washington, D.C. According to Brookings research, job creation is just one potential benefit of a higher level of exports.
“While exporting can be daunting, we're looking for ways in this process to make it less daunting for our regional businesses,” says Sobush.
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