Foreign Direct Investment Option
As APEG works to attract new business into the region’s counties, international industries are increasing part of the effort.
Although some foreign investment lands with a huge splash like the recently completed $1 billion purchase of Bellisio Fine Foods (including the Jackson production facility) by Thailand’s mega-giant Charoen Pokphand Foods, others are looking for a simpler way to enter U.S. markets — a soft landing.
Soft Landing
For companies who are curious about our markets but not ready for a full commitment, APEG’s new soft landing program is ideal.
“The majority of my conversations with those stopping at Ohio’s booth at the Hannover Messe last spring were with representatives of small companies who were looking for a way to explore the U.S. as a place to grow their business,” said John Molinaro, president and CEO of APEG. “We now have a program in place so I can offer those small companies support and a place to explore and launch in the APEG region.”
Hannover Messe, the largest industrial trade show in the world. is held each spring Germany.
Key to the new program are entrepreneurial centers capable of working with foreign companies. Some of the commonly needed services are:
• U.S. Market Research
• Help with Import / Export Laws
• Translation Services
• Cultural Guidance
• Intellectual Property Protection /
Patent Assistance
• Equity investment and financing
(for qualifying businesses)
Wet Lab to Blast Chiller
For companies interested in testing the viability of manufacturing an existing or new product in the U.S., specialized equipment is often needed.
“We have several organizations in the region who can help with specific needs and advice ranging from USDA certified food production facilities to wet labs to additive manufacturing and equipment prototyping,” said Molinaro.
Among the resources in the APEG Soft Landing program are The Innovation Center, Ohio University’s award winning business incubator; the National Additive Manufacturing Innovation Institute in Youngstown; and business incubators ACEnet in Athens, MCBI in Zanesville and the OSU Endeavor Center in Piketon.
In February, the Innovation Center was selected by the International Business Innovation Association (InBIA) to join its 31-member Global Soft Landing Network. The network offers businesses an accelerated introduction to a new country’s business practices, regulations and culture.
Expertise to build on the region’s existing strengths in metals, energy, bioscience, wood, food, and chemical and polymers is also available to new companies.
Facilitating Partnerships
Advantageous partnerships are also created when U.S. and international companies work together. An additional goal of the Soft Landing program is introducing APEG companies whose resources fit foreign companies looking to collaborate.
Partnering could be in production, assembly, fulfillment, logistics, sales or a full joint venture.
“A conversation during a February trade mission led to the introduction of a Canadian company to an APEG manufacturer and the discussion is looking like we’ll have a partnership formed between the two,” said Molinaro.
“Our culture is familiar and comfortable to global companies who feel a kinship with rural areas. They know the workforce is committed and the communities are deeply rooted.”
John Molinaro
President and CEO, APEG
Small to mid-sized companies looking for low-cost support for entering U.S. and Canadian markets are most likely to benefit from a soft-landing approach.
