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FBN’s Elka Worner breaks down the “Global Cities Initiative” and why JPMorgan Chase believes cities are better equipped to help local businesses...
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Los Angeles already exports eighty billion dollars worth of goods.
But a new national program could boost those numbers and create more jobs products -- we build America.
Quality products.
Rest where will want to JPMorgan Chase and the Brookings institute have launched the global cities initiative.
It's based on the belief -- cities are better equipped to help local businesses export than say the federal or state government vitality.
The United States is very much going to be a function -- -- global cities expects.
These -- the markets that we server.
The new program targets companies interested in overseas growth but at a loss on how to proceed -- and say what we like to export.
How do you do it I mean it's very complicated the FR a lawyer the entire consultant you have to our lobbyist.
And so it would be it was very costly through the initiative companies can access export professionals and market research.
They can also be paired with business schools to create export plan.
Local company pelican which makes containers and flashlights already exports to 100 countries.
We started sales offices in nine new countries last year so Korea India.
South Africa.
Israel Dubai Turkey.
Even though they have a strong international presence executives say they'll tap the new programs resources.
We felt weird ways to go on our export sales our goal is to have export sales -- at least 50% of overall turnover.
But -- it's about 33%.
The people behind the initiative C a -- no brainer they have the expertise to open global markets to businesses that never dreamed they could sell abroad.
And perhaps the best part it doesn't cost taxpayers a dime.
In Los Angeles -- Warner Fox Business Network.
