Halifax -- Early results from a recent Team Canada Atlantic trade mission to New York City in May show 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, sales over the next two years from the trade mission are estimated at more than $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.
"The fact that our companies had success in New York is confirmation that we can look to New York as an important export market for growing our economy," said Premier John Hamm. "Aggressively promoting our exports was a vital part of our economic growth strategy, Opportunities for Prosperity, and this trade mission took us one step further in that direction."
Nova Scotia's participating companies are reporting expected sales over the next two years of $3.2 million.
"That's an incredible result for any trade mission," said Gerry Byrne, Minister of State for the Atlantic Canada Opportunities Agency. "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."
IT Interactive Services Inc., a Halifax-based software development company, was one of the many successful companies on the New York trade mission. The journey allowed the company to re-sign a contract with their client, Findwhat.com. Follow-up from the mission resulted in IT Interactive agreeing to sign a deal with Enzyme Digital, a New York e-business web developer.
"We are quite excited about the possible benefits of the Enzyme Digital contract," says Barbara Manning, president of IT Interactive Services Inc. "We were also asked to become a member of Listnet, a Long Island technology network of companies, which will give a constant visible presence in New York. We are the first non-U.S. company to join the association."
This was the first mission by Team Canada Atlantic to the New York market. During the past three years, five trade missions to New England and Atlanta resulted in a combined $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 U.S. 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 co-operative effort between ACOA, the four Atlantic provinces, the Department of Foreign Affairs and International Trade, Nova Scotia Business Inc., 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 http://www.TeamCanadaAtlantic.com