On March 30, 2017, the Inland Empire Center for International Trade Development ended its month-long series of classes known as the Export Trade Assistance Partnership, or ETAP, in San Bernardino. This series of four to five courses teaches local business owners and entrepreneurs the basics of expanding their business by exporting their goods. Our last session focused on international shipping and we were honored to have representatives from the Port of Los Angeles come and talk about international shipping and the benefits of Los Angeles as a port. As international trade, which international shipping facilitates, is CITD’s bread and butter, it is worth giving you some quick facts about our nearby port and why you should, or probably will, be using them for all of your international shipping needs.
Los Angeles is the number 1 customs district in the country- According to ustradenumbers.com, Los Angeles’ world trade grew from $393.76 billion in 2015 to $398.13 billion in 2016, a 1.11% increase. Its closest competitor, New York City, only pulled in $356.93 billion in 2016. Thus, your business has access to the country’s largest customs district, and it is only a one hour drive away!
Most numerous & frequent sailings to and from Asia- Have you been thinking about expanding your business into Asia? If so, contact us so that we can help you navigate the shoals of international trade. Then contact the Port of Los Angeles. 8 of Los Angeles’ top 10 trading partners are in Asia with China being its number 1 partner. In fact, of the $578 billion in trade the United States had with China last year, $159 billion, or about 28%, was done in Los Angeles. If your business destination is Asia, Los Angeles is your port of departure. Check out ustradenumbers.com’s Los Angeles page to learn more about the port’s recent trade success.
Los Angeles has one of the largest Foreign Trade Zones in the country- At CITD, we love Foreign Trade Zones (FTZs). In fact, we’ve even offered classes on FTZs in our office in Corona (keep your eyes open for when we offer this class again!). Among their many benefits, they allow for the manufacturing and distribution of goods duty-free. With one of the largest FTZs in the country, the Port of Los Angeles allows you the opportunity to make and ship your goods at the lowest cost.
Numerous resources for your business- Expanding your business into foreign markets, especially if it is your first time, can be daunting. How do you do it? How safe will your investments be? CITD offers one-on-one business counseling, international business matchmaking, market research, classes and events for free or at low cost. The Port of Los Angeles also has resources for you. They offer seminars, an Export University, and trade data to help you learn how to leverage the port for maximum benefit. Just check out their website for upcoming seminars and to find more trade data: http://www.latradeconnect.org/
These are just some of the most pertinent facts about the Port of Los Angeles for Inland Empire Businesses. I don’t even have enough time to talk about its 1.7 billion sq. ft. of logistics & distribution centers, its First Class rail links to and from 14 key U.S. markets, and its link to the 6th largest airport in the world. If you’re thinking about shipping your goods abroad, the Port of Los Angeles is your destination.