DEPARTMENT: Economic Development
DEPARTMENT HEAD: Rene Dominguez
COUNCIL DISTRICTS IMPACTED: All
SUBJECT:
Economic Development Department FY2018 International Business Plan
SUMMARY:
The EWDC presentation will provide an overview of the FY2018 international plan, which will be guided and structured by our most recent collaboration with the Brookings Institution’s Global Cities Initiative to develop more specific and results-oriented strategies to prioritize foreign metro markets.
BACKGROUND INFORMATION:
The San Antonio business and economic development community launched the San Antonio Trade and Investment Strategy (SATIS) in 2015, as a result of a two year partnership with the Brookings Institution and its Global Cities Initiative. The strategy identifies two primary areas of focus: (1) the promotion of foreign direct investment (FDI); and (2) the growth of exports. The SATIS continues to provide the outline in which EDD develops and supports international economic development by prioritizing international markets to focus on trade and investment efforts, and operationalizing economic strategies through partner support.
San Antonio was recently selected by Brookings to join a new cohort of eight metros seeking to develop and amplify the impact of trade strategies through research and strategic development problem-solving. This new Global Cities Initiatives will build upon our previous work and provide more specific, data-driven, and results-oriented strategies that will lead to increased jobs and investment in our community. Specifically, this effort will help prioritize foreign metro markets.
In FY17, and as part of FY18, the Economic Development Department (EDD) developed initiatives that complement and supplement the Strategy. These initiatives focus on the community's international economic development efforts, with the goal of growing both FDI and exports and promoting San Antonio as a global destination. The EWDC presentation will provide highlights of FY17 initiatives as well as the FY2018 plan.
The initiatives include working with local partners to leverage their external partnerships as a means of promoting exports and foreign direct investment. Additionally, the City supports and promotes key initiatives that raise the profile of international business engagement and the importance it plays in competitiveness and economic vitality. An example of this would be participation in the 7th Americas Competitiveness Exchange (ACE) on Innovation and Entrepreneurship in April 2017, where San Antonio was able to showcase key industry sectors to international delegates from around the world.
In FY2018, EDD has already supported the trade missions to Israel and the Sister City Agreement signing in Darmstadt, Germany - leveraging our international relations where applicable to facilitate economic exchange. Additional specific activities planned for FY 2018 include:
• Policy advocacy of trade agreements and legislation impacting foreign trade (i.e. NAFTA)
• Promotion through additional trade and investment missions
• Export and foreign direct investment support through Casa San Antonio and Texas Japan Office
ISSUE:
Our work with the Brookings Institution will be completed in phases through early 2018. Staff has currently completed the first two of three assignments, which focused on the identification of industry subsector specialization and analysis of that subsector within San Antonio and explored subsector economic linkages with other metros. The final assignment will assess the level of difficulty in connecting with metros based on political and cultural factors. Completion of each assignment will assist in market prioritization and will help San Antonio develop a locally-tailored market assessment. The San Antonio Economic Development Foundation serves a co-lead and will convene an International Advisory Council which will serve as the stakeholder validation group throughout this process.
RECOMMENDATION:
This briefing is for informational purposes only and no action is necessary.