The push for globalization
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SYRACUSE, N.Y. -- Syracuse businesses are being told that the future lies in globalization.
CenterState CEO focused its annual meeting on a goal to double the local level of exports over the next five years.
The group is pointing to a report from the Brookings Institution that claims that every billion dollars of sales overseas will help create close to 5,000 local jobs. They claim doubling local exports will create 18,000 jobs in the region. And they say it will help create a bridge to a better domestic economy.
“This economy is doing very well locally, but it's still relatively flat. We've not seen the large manufacturers build up inventories and finance new equipment and expansion. So while that's flat, we have to take advantage of the export opportunities,” said CenterState CEO Chairman Allen Naples.
CenterState says there is also good news for workers. Their research shows companies involved in export trade tend to pay higher salaries to their employees.