As ZG Worldwide continues to grow
and expand, great headway has been made to ensure ZG Worldwide is on the front
lines of emerging business trends. In October this year, President and founder,
Lothar Soliwon, traveled throughout the Midwest region to various International
Business Summits. These meetings & seminars in Chicago, Champaign and St.
Louis enabled ZG Worldwide leadership to establish key connections, obtain competitive
data on emerging issues and needs of businesses & allow other business
leaders to learn about ZG and our respective business model.
In Chicago, there was an exciting
speaker series event sponsored by the British-American Business Council of
Chicago. The speaker, James Guyette, CEO of Rolls-Royce Aerospace, focused his
lecture on the luxury car business and dictated their respective blueprint as one
of the world’s largest producers of aircraft engines (It’s interesting to note
that they divested themselves of the luxury car business to BMW). James Guyette
highlighted that Rolls-Royce Aerospace has several manufacturing plants in the
United States and although they have a large factory in Indianapolis, there are
no manufacturing plants in Illinois. Guyette further highlighted that Rolls-Royce
Aerospace has many employment opportunities for highly skilled manufacturing
workers & a competitive apprentice programs to obtain and train qualified personnel.
Also in October, in Champaign,
IL, a seminar highlighting Foreign-Trade Zones at the Small Business
Development Center was a lucrative event. Key speakers included Sally Hanley,
Director of Business Development for Foreign-Trade Zone #114 in Peoria, IL, and
Robert Rosario, Foreign Trade Zone Administrator for Rockwell manufacturing in
Champaign.
For those readers who don’t know,
a Foreign-Trade Zone (FTZs) is an area geographically inside the United States
but legally considered outside its customs territory; it is specially
designated and secure, operating under U.S. customs supervision. FTZs are
established to encourage and expedite U.S. participation in international
trade, to expedite exportation of domestic goods with foreign and domestic
content, and to defer payment of duties until goods enter into the commerce of
the U.S. There are eight Foreign-FTZ
Trade Zones in Illinois and some subzones.
The top industries using FTZs are
automotive, petroleum, computers/electronic equipment, machinery/equipment and
supplies, and pharmaceutical. The
typical FTZ does a significant volume of imports as well as re-export of
foreign merchandise. There are a number
of administrative complexities involved that have to be looked at closely to
determine whether or not a company is a good candidate to operate in a FTZ.
And finally, to end October, the 2014
International Business Summit in St. Louis was an exciting summit. Rubin
Brown, an accounting and management consulting company and an independent
member of Baker Tilley International sponsored the event. Baker Tiley
representatives from Brazil, China, Germany, Ireland, and Mexico gave
presentations on doing business in their countries. Steve Burrow, former CEO of the International
Division and Asia Business Unit of Anheuser-Busch International, gave a
presentation on the cultural considerations in doing business in China. While St. Louis is nowhere near the size of
Chicago, many local companies are doing vibrant global business. Key contacts were made with many leaders who
are involved with various levels of international trade.
Contact ZG Worldwide for additional
information.