International Trade Assistance Center now open in UT College of Business and Innovation
Northwest Ohio businesses seeking to increase their profits by exporting and selling their products in foreign markets have a new ally located at The University of Toledo College of Business and Innovation.
The International Trade Assistance Center (ITAC) is now open and ready to assist area manufacturers through the necessary steps to enter or grow on a global stage.
“ITAC provides export assistance services to small and medium-sized businesses (with no more than 500 employees) throughout Northwest Ohio that are interested in exporting, as well as to current exporters expanding to new markets,” said Paola Greene, ITAC trade consultant. “We can perform market research and make sure they are ready to export; examine their culture, their finances and their resources. We see if they want to go on a trade mission, or maybe we can find them various sources of funding, such as a loan or a grant. We want to promote growth through exports.”
Other ITAC services include: export compliance education; cultural and language assistance; export documentation; logistics; and export financing assistance.
“My role is to assist and counsel business and to help the regional community access services, such as the Small Business Development Center. Companies should know that there are tremendous opportunities outside the United States, even if they are a relatively small company with only 10 employees,” Greene said.
Greene assists businesses within nine counties in Northwest Ohio, namely Williams, Defiance, Henry, Fulton, Lucas, Wood, Sandusky, Ottawa and Erie.
“We are extremely fortunate to have Paola here, as she has great international knowledge and experience, is fabulous to work with and will make ITAC very successful,” noted Dr. Thomas Sharkey, Director of the Global Business Development Institute in the UT College of Business and Innovation. “One wonderful thing about ITAC is how quickly Paola can respond to the questions and needs of area businesses. Furthermore, this is a free service, so people should not be afraid to ask for help.”
“Companies often recognize that expanding to global markets is something they should do,” he added. “We make it easier for them because we have the experts who will show them how to do this and will provide them with all the criteria for success, whether they have a manufactured product or intellectual property.”
ITAC is located at UT as part of a joint partnership with Cleveland State University.
“ITAC offices are frequently housed at universities around the country,” Dr. Sharkey said. “It is certainly consistent with our mission of outreach and engagement with the business community. Plus, as an expert in exporting, it is a great opportunity to have Paola within an academic institution, where she can speak to business classes.”
Greene added, “Our connection to the UT College of Business and Innovation also presents an opportunity for classes or grad students to do market research for companies seeking assistance.”
Dr. Sharkey added that programs such as ITAC which assist businesses and increase the exporting level of companies are a team effort, and that organizations such as the Toledo Area Chamber of Commerce and the Regional Growth Partnership are very supportive.
Establishing the ITAC office follows COBI’s introduction of the GlobalTarget program in 2011.
GlobalTarget participants, who pay a fee to be involved with the program, meet monthly for specialized sessions covering relevant topics based on an understanding of current members’ needs. The program then helps companies develop plans to improve their business’ supply chain, identify talent, understand export financing, and develop market entry strategies.
GlobalTarget not only provides information, but actually matches local manufacturing companies with foreign markets. A premier benefit of GlobalTarget is access to the U.S. Commercial Services Gold Key Matching services at no additional cost, made possible by the support of United Parcel Service (UPS).
“ITAC and GlobalTarget are similar in some ways, but the scale is different. Through GlobalTarget, people can actually network over a period of months with others in the program,” Dr. Sharkey said. “Furthermore, GlobalTarget runs from fall to spring, so ITAC enables us to offer services throughout the year, serving more people. Plus ITAC is a free service, which lets us help businesses which want to export but may not have the funds to be part of the GlobalTarget program.”
“Our involvement with ITAC and GlobalTarget demonstrates the expertise and global impact of the UT College of Business and Innovation faculty and programs,” noted COBI Dean Thomas Gutteridge.
“The University of Toledo College of Business and Innovation has the mission of a regional presence with a global impact and continuously seeks innovative ways to educate and assist the regional business community, especially in the global domain,” Dr. Gutteridge added. “COBI currently has partnerships with universities in China, India and Egypt, and we increasingly impact the development of tomorrow’s ethical business leaders. Offering both the International Trade Assistance Center and the GlobalTarget Program are prime examples of our continuing community engagement efforts and why business professionals can turn to COBI to help them address a vast array of business issues.”
“It’s a global world. Facilitating existing or new exporters to enter foreign markets benefits all of Northwest Ohio,” noted Dr. Thomas Sharkey. “The more we can do to increase the number of exporters the better it is for the region and for the creation of wealth.”
For more information or to access the services of the International Trade Assistance Center, contact Paola Greene at 419.530.5682 or email paola.greene@utoledo.edu.