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Engineering Business News and Views
News Release from: Engineering Industries Association
Edited by the Engineeringtalk Editorial
Team on 05 November 2003
Trade mission offers low-cost route to
Chicago
The Engineering Industries Association is mounting a trade mission to North America, supported by Trade Partners UK North American Directorate.
The Engineering Industries Association is mounting a trade mission to North America, supported by Trade Partners UK, North American Directorate The mission is centred around National Manufacturing Week next February in Chicago
This article was originally published on Engineeringtalk on 11 Jul 2008 at 8.00am (UK)
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The USA is Britain's largest single market and is the leading destination for British overseas investment.
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Business investment strengthened, imports grew, and consumer spending increased.
In July UK exports to the USA saw a 12.89% increase over July 2002.
Calendar year-to-date UK exports saw a slight decline of 3.62%.
Economists believe that the presence of short-term momentum is now beyond doubt and, during the next 18 months, the economy will become more robust.
Due to its size and geographic location, Illinois - and especially Chicago - tend to dominate the Midwest region of the USA.
The state is home to the headquarters of 30% of the top 1000 industrial corporations in the USA and 46 of the US Fortune 500 companies.
16% of all US GNP is generated within a 500km radius of Chicago.
Manufacturing enterprises in Chicago produce some US $120 billion of steel and primary metals, electrical machinery, switchgear, machine tools, food processing, radio and television receivers, communication equipment and metal furniture.
There are major opportunities for UK engineering companies to expand their US customer base which, in the long term, can provide substantial benefits.
National Manufacturing Week which is held annually, attracted 47,477 visitors in 2003.
It remains the dominant gathering place for buyers and sellers of products and technologies that support and integrate the entire manufacturing process in North America.
The show consists of five elements: the National Design Engineering Show and Conference; the National Enterprise IT Show and Conference; the National Plant Engineering and Management Show and Conference; the National Industrial Automation Show and Conference; and the Technology Transfer Conference and Expo.
The Engineering Industries Association is also organising a UK group pavilion at the show with Trade Partners UK support.
UK company participants can receive grants of up to 60% of the expenditure on stand space and construction, up to a fixed cash ceiling of GBP 2300.
The cost of the travel package will be approximately GBP 700 plus a registration fee of GBP 175 + VAT (GBP 30.62).
This sum provides participants with an economy class airfare, departure tax and three nights four star suite accommodation.
There will be a Trade Partners UK travel grant of GBP 500 payable on return for eligible companies, who must be based in the UK and be promoting UK goods and/or services.
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