Wisconsin Manufacturing Extension Partnership – ExporTech
ExporTech™: Helping Wisconsin Manufacturers Grow Their Business Through Exporting
Start growing your business through exporting with 24 hours of customized, action-oriented export expansion strategy development. ExporTech is a proven path to export success: graduates have achieved sales increases averaging $900,000 in 6-9 months after completing the program.
What is ExporTech?
ExporTech helps small to midsize Wisconsin companies tap into new markets with a customized export expansion strategy that has the greatest revenue potential and the least risk. A carefully selected group of up to eight non-competitive companies share three full-day events scheduled approximately one month apart. Participants learn how exports can dramatically drive growth, identify hurdles to expansion, and develop a customized international growth plan.
Through ExporTech, you will:
- Learn successful exporting strategies
- Develop an effective exporting plan
- Get expert feedback and coaching from a panel of experienced exporters
Did you know that:
- 95% of consumers are outside the USA.
- Companies that export outperform their non-exporting competitors.
- Companies that export have higher IBIDAs than those that don’t.
Why should I export?
Exporting can help you:
- Grow your business.
- Increase the value of your company.
- Diversify your revenue sources.
- Bring innovative new products to market.
For more information, please contact Jim Cleveland at 920-929-7581.
Wisconsin Economic Development Corporation (WEDC)
GLOBAL BUSINESS DEVELOPMENT PROGRAM
Ambitious Wisconsin companies see a world of opportunity for their products. However, navigating the global marketplace requires specialized knowledge and a sound strategy based upon proven best practices.
The Wisconsin Economic Development Corporation (WEDC) stands ready to help you gain the insights you need to tap new international markets. Our International Market Access Grant and Collaborative Market Access Grant Programs help companies lay the foundation for a new export strategy or build upon existing export programs. The programs are easy to implement, with simple application and reimbursement processes, so you can focus your attention where it needs to be: on execution.
Wisconsin ExporTech™ Graduate Assistance Project
Funded in part through a Cooperative Agreement with the U.S. Small Business Administration
Under a State Trade and Export Promotion (STEP) grant to WEDC from the U.S. Small Business Administration (SBA), small businesses as defined by the SBA (criteria vary by industry) can apply for grant funding to assist in implementing an export growth strategy. Companies that have completed the ExporTech™ Program, as well as companies that can provide proof that they have enrolled in an upcoming session of ExporTech, can apply to receive up to $15,000 per company for eligible expense options including export compliance education, translation services, market assessments and partner/distributor searches.
Whether a not a company has completed or enrolled in ExporTech, qualifying small businesses can apply for funding support to participate in a trade venture led by WEDC or a trade mission led by the state Department of Agriculture, Trade and Consumer Protection.
International Market Access Grant
Wisconsin companies can be reimbursed for specific expenses associated with executing their new and/or expanded international market access strategies. A company’s application should include an export strategy for target markets, related activities, and project budget. Companies that have completed the ExporTech™ Program may qualify for up to $25,000 to support export strategy implementation. Companies that have not participated in this program may qualify for support at a project level up to $15,000. The grant cycle corresponds to WEDC’s fiscal year of July 1-June 30.
Achieving your International Objectives
Personal contact creates business opportunities. But that’s not always easy when your target market is thousands of miles away. That’s where the Wisconsin Economic Development Corporation (WEDC) comes in.
Whether you’re looking for customers or distributors to help you expand your global reach (or both), WEDC’s targeted trade ventures will help you build the relationships necessary for increased international sales.
As a member of a WEDC trade venture delegation, you will receive a high-level country briefing from WEDC’s market development director before commencing a well-organized tour of the country’s major markets. At each stop, you will participate in pre-arranged, customized meetings with companies whose needs or capabilities align with your export objectives.
WEDC GLOBAL NETWORK
GLOBAL MARKET INTELLIGENCE AVAILABLE THROUGH NETWORK CONNECTIONS IN WISCONSIN AND BEYOND
Tapping new international markets is no longer a luxury—it is now a necessity. But where does a company begin? Pursuing export opportunities requires specialized knowledge, not to mention specific market intelligence. That’s where the Wisconsin’s Global Network comes in.
HOW IT WORKS
The Wisconsin Economic Development Corporation’s (WEDC’s) team of market development directors work with other state agencies and trade representatives covering 79 countries to provide you the insights and contacts you need to develop and execute market-specific business development strategies.
Southeastern Wisconsin Foreign-Trade Zone No. 41
What is a Foreign-Trade Zone?
A Foreign-Trade Zone is an approved area within the United States, in or near a U.S. Customs port of entry, which is considered outside the U.S. Customs territory. Certain types of merchandise can be imported into a Zone without going through formal Customs entry procedures or paying import duties. Customs duties and excise taxes are only due at the time of transfer from the FTZ for U.S. consumption. If the merchandise is re-exported, then no duties or taxes are paid on those items.
Why do Foreign-Trade Zones exist?
The Foreign-Trade Zone program was created by the federal government in the 1930s to increase the global competitiveness of U.S. businesses. The government has highlighted the FTZ program as an integral part of the country’s National Export Initiative. It was designed to encourage capital investment in the United States, rather than abroad, in order to secure American Jobs. The benefits make it advantageous for companies that want to use American labor to manufacture products that require imported components.
What may a company do in a Foreign-Trade Zone?
Once a company imports merchandise into a Foreign-Trade Zone they are allowed to use it in the following operations:
(*The user must receive special approval from the FTZ board for Manufacturing and some Processing)
What are the different types of zones?
There are two basic types of zones a company may apply for:
A Subzone: This is typically a large manufacturing or processing operation
A General Purpose Zone: This is typically for companies conducting any or all of the other operations listed above. However, some manufacturing and processing may be done with special Foreign-Trade Zone Board approval.
Frequently Asked Questions of Foreign Trade Zones
Does my company need to import through the Port of Milwaukee in order to take advantage of the Foreign-Trade Zone?
While the Port of Milwaukee may be a convenient port of entry for businesses in southeastern Wisconsin, your company is not obligated to use the Port for any of your FTZ related shipping. The Port of Milwaukee has been designated by the Foreign-Trade Zone Board as the Grantee for the Southeastern Wisconsin Foreign Trade Zone No. 41, and that responsibility as Grantee functions separately from daily Port operations.
How is United States Customs and Border Protection involved?
U.S. Customs and Border Protection has the responsibility of supervising the Foreign-Trade Zone through periodic checks and visits from Customs officers. Customs oversees the transfer of merchandise into and out of the Zone and are responsible for collecting revenue from applicable duties, taxes, and fees.
The CBP Port Director is the local representative of the Foreign-Trade Zone Board and controls the admission and removal of merchandise in the Zone. Customs is also tasked with enforcing all laws relevant to the Foreign-Trade Zones, and providing legal interpretation of those statutes, regulations and procedures.
What are the advantages of an FTZ over a bonded warehouse, temporary importation bond, and duty drawback?
There are many advantages to a Foreign-Trade Zone over other U.S. Customs Programs. Depending on the program, some of the advantages are:
- No time constraints on storing merchandise
- Ability to get approval for manufacturing
- Taking advantage of benefits for scrap materials
- Not required to pay duties if product is re-exported