China Dispatch: Tallying the numbers, sharing some of Tennessee’s finest
Posted on October 23, 2009 at 8:16 am
Commissioner Matt Kisber officially opened the China Trade Mission with introductions and a summary of the economic development achievements that have been accomplished in Tennessee over the past seven years. During Governor Bredesen’s two terms, he has created $28 billion of new business, created 170,000 new jobs and attracted 48 new headquarters to Tennessee.
As a California native, these are impressive numbers to me when I consider the disaster they’re now in. Tennessee actually grew slightly in the past year while California lost 732,000 jobs and has 2.2 million unemployed people.
Governor Bredesen then gave us a recap of the 2007 China trip and what they’ve accomplished since the visit. They had signed an MOU to exchange health care ideas for rural areas. It has been successful. There are also joint opportunities in renewable energy. China is making large investments in solar energy, as is Tennessee. Tennessee companies spent $2B in the last year on the technology.
Tennessee companies currently export $1.3 billion to China, this number is sure to grow. Tennessee is the 13th-largest importer of Chinese goods. They are our third-largest trading partner after Canada and Mexico. The Governor encouraged us to keep an open mind to as to how Tennesseans can increase business with China.
We then heard presentations about the useful U.S. and state resources that are available to companies seeking to do business in China. The Embassy has a Commercial Services Division which assists U.S. companies on exporting products to China. They have many services, including policing intellectual property rights.
Also, Tennessee’s office of Economic Development has a small office in China. They are the first point of contact for Tennessee businesses wishing to do business here.
In the afternoon, we were joined by nearly 100 Chinese business men and woman who wanted to learn more about doing business in Tennessee. The translated presentations consisted of a China-based company with a plant in Tennessee, who touted their great experience with the state. We also heard from a Peking University business professor who has been to Tennessee and raved about the low cost of living, right-to-work policies, logistics via freeways and airports and the beautiful natural resources.
We then concluded the day with a reception with the Chinese businesspeople and discussed ways we could do business together. Many cards were exchanged. We all had one thing in common: They, too, are big fans of Elvis and Jack Daniel’s.
Off to Xi’an, one of China’s oldest cities, tomorrow.
