Wednesday, 02 05, 2014
Joe Hall 502-564-4886
Trip set for May 11-16 to Kentucky’s third largest
export destination; businesses encouraged to register
FRANKFORT, Ky. (Feb. 5, 2014) – Governor Steve Beshear today
announced he will lead a Kentucky Export Initiative
(KEI) trade mission to the United Kingdom.
The trade mission is set for May 11-16 and
will focus on increasing commerce, promoting travel and tourism, and building
business relationships between Kentucky and the United Kingdom. The KEI
delegation will make stops in London and Manchester.
“We do a tremendous amount of business
with the UK, exporting more than a billion dollars in products and services a
year, but there is plenty of room to grow,” said Gov. Beshear. “This trade mission
will give Kentucky businesses the opportunity to have one-on-one meetings,
build relationships to increase sales and explore one of Europe’s most
The United Kingdom has the sixth-largest
economy in the world, and with few trade barriers, it is a popular entry market
into the European Union. Kentucky exported more than $1.6 billion in products
and services to the United Kingdom last year, a more than 20 percent increase
from 2012. Top exports include aerospace and pharmaceuticals products.
Kentucky exports to the United Kingdom
have played a key role in boosting the Commonwealth’s economy. In the first 11
months of 2013, Kentucky’s exports of products and services to the United
Kingdom generated $839 million for Kentucky’s GDP, supported more than 10,000
jobs in the Commonwealth, and created $69 million in state and local taxes for
tourism officials will participate in the trip and visit media, tour operators
and others to discuss tourism opportunities in Kentucky. Tourism has a $12.2
billion annual economic impact in Kentucky.
The trip follows another record export
year for Kentucky in 2013. Exports of Kentucky-made products and services
during the first 11 months of 2013 totalled a record $23 billion. Kentucky
exports to approximately 199 nations, and the United Kingdom consistently comes
in as the third largest destination for Kentucky products and services behind
only Canada and Mexico.
The visit will be KEI’s second trade and
investment mission. Gov. Beshear led a delegation to Canada in June 2013.
Gov. Beshear created the KEI to bring
together agencies and organizations to help facilitate international trade
opportunities for Kentucky businesses. Comprised of government entities,
business organizations and trade experts, the KEI partnership includes the
Cabinet for Economic Development; Tourism, Arts and Heritage Cabinet; Kentucky
Association of Manufacturers; World Trade Center Kentucky; Kentucky Association
for Economic Development; the Kentucky Chamber of Commerce; U.S. Commercial
Service; Kentucky Small Business Development Center; Bluegrass Economic
Advancement Movement; Northern Kentucky International Trade Association;
Commerce Lexington; Greater Louisville Inc. and the Bowling Green Area Chamber
Companies interested in participating in
the trade mission are encouraged to act quickly due to limited spacing. For
more information and to register, visit www.kyexports.com.
Some companies may be eligible for grant
assistance for business and export development services through the Bluegrass
Economic Advancement Movement’s (BEAM) Kentucky Export Promotion program. More
information on this program can be found at http://www.louisvilleky.gov/beam.
“The trade mission is a great opportunity
for participants to take advantage of networking opportunities with government
and industry leaders,” said Larry Hayes, secretary of the Cabinet for Economic
has the potential to reap increasingly significant economic benefits from
international visitors, and the UK continues to be a top target market,” said
Bob Stewart, secretary of the Tourism, Arts and Heritage Cabinet. “Bourbon,
horses and the great outdoors are especially appealing to this market of
potential travelers, many of whom are well versed with the United States but
are looking beyond the usual destinations they have been to in the past.
The timing is perfect for us to see an increase in international visitors,
especially from the UK.”
on Kentucky’s economic development efforts and programs is available at www.ThinkKentucky.com. Fans
of the Cabinet for Economic Development can also join the discussion on
Facebook at www.Facebook.com/ThinkKentucky
or follow on Twitter at www.Twitter.com/ThinkKentucky.