ALBANY, NY (WENY) – Last week Gov. Kathy Hochul expanded trade for New York state businesses in the Caribbean. The new foreign office will help New York state companies with international sales and exporting their products and services to the Caribbean region.
“It will be a win-win, in every aspect of this,” said Lennox Ruiz, VP of Empire State Development Global NY.
The office will be established through the Empire State Development Global NY Division. Global NY will assist New York state businesses with exportation of their products and services. They will also provide technical assistance and in many cases, give out grants so that New York businesses can access these new markets.
According to the U.S. International Trade Administration, companies that export grow faster on average than companies that do not export. They are also less likely to go out of business and are better equipped to withstand the fluctuation of today’s economy, Ruiz said.
“This vibrant commercial region will help New York companies broaden and develop new partnerships as we begin a new and exciting chapter in our economic development relationship with this market,” Gov. Hochul stated in a recent press release.
Ruiz added that New York has a long history of international trade and that Gov. Hochul’s efforts are going to grow business and provide more job opportunities for the local communities.
“This helps not only the New York State Economy but the U.S. economy at large,” Ruiz said.