RAEDC’s Hall to lead region’s International Trade Center


Terrance Hall Staff ROCKFORD, Jan. 30 — Terrance Hall of the Rockford Area Economic Development Council has been designated by the state to serve as local director of the Illinois SBDC International Trade Center.

The International Trade Center helps local companies export products and services, a valuable sector for the Rockford Region: Exports rose a record 32 percent for the Rockford MSA in 2013, valued at a total of $2.53 billion.

Specifically, the ITC works one-on-one with companies to:

  • Assess export readiness
  • Enter foreign markets
  • Help with cross-cultural communication
  • Hold educational and networking forums/ training seminars
  • Assist with export business planning
  • Identify potential export markets and foreign buyers
  • Establish international marketing strategies and partnerships
  • Navigate customs regulations
  • Assess risk management
  • Counsel on trade finance

In addition, the ITC helps foreign firms buy from local suppliers and facilitates foreign direct investments in the Rockford Region.

The RAEDC manages the ITC in Rockford through a grant from the Illinois Department of Commerce & Economic Opportunity in collaboration with Rock Valley College.

In his new role, Hall will manage the ITC as the “go-to” entity for local companies that want to start or boost exports.

“Global companies are more profitable and sustainable. For the Rockford Region to grow, our international exports must also continue to grow,” stated Hall. “I look forward to working with our businesses through the ITC to enhance our region’s competitiveness and wealth.”

“Terrance is a tremendous asset and brings professional experience in economic development,” added RAEDC President Mike Nicholas. “Because he has been working at the RAEDC on business retention/expansion activities, his relationships with local companies are strong. He understands their needs, goals and challenges.”

Hall’s primary focus in business retention and expansion efforts has been the Voice of the Customer survey. This tool not only provides an in-depth analysis of our business climate but also fosters assistance to hundreds of companies, allowing them to improve and grow – key to retaining and creating quality jobs.

Hall, a Certified Global Business Professional (CGBP), graduated from the University of Illinois at Urbana-Champaign with a Bachelor of Arts in Urban and Regional Planning in 2011. Prior to joining the RAEDC in 2012, he was a research associate for Rockford Region Vital Signs, a consortium-led regional plan for sustainable development funded by the U.S. Department of Housing and Urban Development’s Sustainable Communities Initiative.

 

ABOUT THE RAEDC
The primary role of the Rockford Area Economic Development Council is to collaboratively enhance wealth creation in the Rockford Region by helping employers retain and create quality jobs. The RAEDC works closely with many partners to learn what existing and new employers need to grow, and to serve as a one-stop resource for clients. The RAEDC seeks to improve the competitiveness of the region by taking what it learns from the region’s employers, and engaging the community in the daily work of economic development.

ABOUT THE ILLINOIS SBDC INTERNATIONAL TRADE CENTER
The Illinois Small Business Development Center International Trade Center of the Rockford Area is a program that works directly with companies to increase the total value of goods exported from the Rockford Area of Illinois. Services are provided to companies to walk them through the process of establishing and growing an export program. The IL SBDC International Trade Center of the Rockford Area is funded in part by the U.S. Small Business Administration in partnership with the Illinois Department of Commerce and Economic Opportunity and Rock Valley College.

FOR MORE INFORMATION
Terrance Hall, RAEDC
International Trade and Business Development Specialist
815.969.4258
thall@rockfordil.com

 


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