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NLIS 2 June 21, 2002 (Industry, Trade and Rural Development) Team Canada Atlantic takes a bite out of Big Apple Early results from the recent Team Canada Atlantic trade mission to New York City in May indicate that, once again, the team approach to expanding trade opportunities has paid off for Atlantic Canadian companies. With results in from most of the 36 participating businesses, immediate sales from the trade mission totalled $9.5 million and long-term sales, over the next two years, are estimated at just over $40 million. While nine new jobs have already been created as a direct result of the trade mission, it is expected that over the next two years, an additional 140 new jobs will be generated across Atlantic Canada. "That�s an incredible result for any trade mission," noted the Gerry Byrne, Minister of State for the Atlantic Canada Opportunities Agency (ACOA). "When you consider that these sales figures are being generated in a market as complex and competitive as New York City, that just underscores the very high quality of our people and our products." Newfoundland and Labrador companies are reporting immediate sales of nearly $8 million and longer-term sales of nearly $24 million. "We feel very strongly that New York is a key market for our exporters and these early results have confirmed that for us," said Premier Roger Grimes. This was the first mission by Team Canada Atlantic to the New York market. Over the past three years, five trade missions to New England and Atlanta have resulted in over $130 million in sales for the participating companies. The tri-state (New York, New Jersey and Connecticut) marketplace has a population roughly equivalent to Canada but with a GDP nearly 50 per cent larger. Roughly one-quarter of major US corporations are headquartered in the tri-state area including 97 of the Fortune 500 companies The Team Canada Atlantic mission to New York City was a cooperative effort between ACOA, the four Atlantic Provinces, the Department of Foreign Affairs and International Trade, Industry Canada, and the Canadian Manufacturers and Exporters. Additional information on Team Canada Atlantic's trade mission to New York City can be found at www.TeamCanadaAtlantic.com. Media contact:
2002 06 21 10:35 a.m. |
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