Victoria is expanding its presence in the United States to bolster in-market support for Victorian exporters and drive investment attraction from the world’s largest economy, further securing the state’s economic recovery from the effects of the pandemic.
Minister for Trade Martin Pakula today announced almost $12 million in funding to appoint six additional trade and investment staff in the United States and three new positions in Victoria within Global Victoria and Invest Victoria, for the next four years.
This funding closely follows the recent appointment of Victoria’s two new Commissioners to the Americas to leverage the economic opportunities available in the region, particularly as the US economy recovers on the back of the Biden administration’s stimulus package.
Commissioner Nigel Warren will be based in San Francisco to focus on the US West Coast and Latin America. Commissioner Caroline Edwards will be based in New York to lead Victoria’s trade and investment attraction activities with the US East Coast and Canada.
“The United States is an economic powerhouse with significant trade and investment opportunities – our expanded presence will ensure that Victorian businesses get the support they need to succeed in this crucial market.” Minister for Trade Martin Pakula
The United States is a key market and Victoria’s second largest trading partner, with two-way trade valued at $12.3 billion in 2020-21. It has long been the number one source of direct foreign investment into Victoria.
Investment secured from the United States, facilitated by the Victorian Government, has created 2115 jobs and $828 million in capital investment since 2019.
With a 37 per cent growth in imports between April 2020 and 2021, there are signs the US economy is recovering from the pandemic, presenting significant opportunities for Victorian businesses.
Global Victoria has seen an increased demand for export support to the US and recently supported Bendigo-based Australian Turntable Company and Corio-based Cobram Estate Olives, among others in expanding their US presence.
Through the recently established Global Victoria Trade Alliance program, Global Victoria has partnered with the American Chamber of Commerce in Australia to help Victorian businesses better understand the US market.
Victoria’s Global Presence
Victoria’s network of 23 international trade and investment (VGTI) offices is the largest of any Australian state or territory, with five locations across the United States in Boston, Chicago, New York, San Francisco and Washington DC.