Working collaboratively with the City of Philadelphia, the Philadelphia Israeli Chamber of Commerce (PICC) accompanied Philadelphia Mayor Michael Nutter on a recent business development mission to Israel. Support from Team Pennsylvania and the Office of International Business Development (OIBD), part of the Department of Community and Economic Development (DCED) was provided through the Expert Speakers Program.
Focused on promoting Pennsylvania as a leading destination for foreign investment, Ms. Vered Nohi, Executive Director at the PICC, participated in seven business meetings, life science and defense industry focused events, and two networking seminars hosted at shared working spaces in Israel. In addition, an investment roundtable was coordinated where direct connections were made with investment prospects, industry leaders, and Ministry officials.
One immediate success from the trip involves a major Israeli food processing stakeholder interested in expanding in the US market. Pennsylvania ranks 4th in the value-added food manufacturing industry, with over $32 billion in manufactured food products being shipped every year – the company plans to make a visit to PA to meet with potential partners and learn more about the specialized service and programs for the food industry offered by DCED.
During the trip, five Israeli investment successes to Philadelphia were announced by Mayor Nutter. In addition to strengthening and forming new partnerships, discussions on future business match-making, forming delegations, and hosting events.
“The Philadelphia-Israel Chamber of Commerce (PICC) works closely with Mayor Nutter, the Commonwealth of PA and partners to boost the commercial and joint R&D relationships between Israeli and Philadelphia innovators,” remarked PICC President, Richard A. Bendit, Esq., “Israel, known as “start-up nation,” leads in investment in R&D as a portion of the GDP and in-turn produces 1000 new start-ups annually. Our common goal is to attract Israeli companies to open their US offices in our region and accelerate the economic impact and advanced research in both countries.”