Newsletter
Cyber Security with Homeland Security Investigations

On Wednesday, November 30th, The Valley International Trade Association (VITA) presented their global networking breakfast on Cyber Vigilance and Business.

Andrew Reynolds, Acting Supervisory Special Agent and Christopher Hicks, Special Agent with Homeland Security Investigations, discussed how to protect your business against cyber attacks. 
 
Acting Group Supervisor Reynolds has experience in the investigation of Cybercrime, Intellectual Property Theft, Financial and Fraud investigations and is a certified computer forensic investigator, currently responsible for the supervision of the HSI Los Angeles Computer Forensics Group. This group is responsible for the triage and analysis of digital evidence for Los Angeles County, Orange County, Ventura County, Riverside County, and San Bernardino County.

Special Agent Hicks has experience in the investigation of Cybercrime, Intellectual Property Theft, Financial and Fraud investigations and is currently assigned to the HSI Los Angeles Cyber Financial Group as well as the Westside High Tech Task Force. The HSI Los Angeles Cyber Financial Group is responsible for the investigation of cyber-enabled crimes which pertain to money laundering, fraud, the illicit trafficking of monetary instruments, and smuggling of contraband. 
VITA Global Networking Breakfast presents 
A Case Study in Exporting U.S. Made Products by
Bobrick Washroom Equipment, Inc. 
VITA Member Appointed to Federal Advisory Council 

The Department of Commerce responded to the needs of its clients and partners and held it's first Trade Finance Advisory Council (TFAC) meeting to increase access to finance for U.S. exporters. 
 
The Council is comprised of 20 private-sector leaders including VITA member Gary Mendell with Meridian Finance Group. The council also consists of representatives from banks, financial technology companies, trade finance organizations, exporters, and a research institution charged with advising the U.S. Commerce Secretary on policies and programs that can help expand access to private sector trade finance and educate small to medium sized enterprises about resources available to them.
Council members deliberated and established four areas of focus at the meeting: 
  • Innovation and Financial 
  • Technology
  • Collaboration and Partnerships
  • Education and Outreach
  • Market Information
Secretary Penny Pritzker underscored the importance that trade finance plays in supporting trade. "Nearly all global merchandise trade, worth in excess of $18 trillion annually, is supported by some sort of finance or credit insurance. Without trade finance, there is no trade," she said.
 
Secretary Pritzker reminded all participants that ultimately, it is the private sector that finances approximately 98% of U.S. export transactions. 
 
Deputy Secretary Andrews shared Commerce's priorities and vision for the TFAC. "Without adequate levels of trade finance," he said, "companies considering whether to expand overseas might never do so; and companies already engaged in exporting may not expand to new markets. This limits the potential for a key element of our country's economic growth strategy - ultimately costing us jobs that otherwise would have been created. That is why access to finance has been an important part of the Administration's export agenda. We need industry to help us find solutions to the systemic barriers that impact this sector," he ended.
Out and About

At Mount Saint Mary University's (MSMU) Capstone Project Presentations on December 3rd. 

Pango Consulting Group presented "The VITA Growth Plan," including a marketing plan and a GAP analysis.  

Pictured from left; VITA Co-Chairperson Katherine Whitman; MSMU Advisor Dr. Ross Hopkins; MSMU graduating students Michelle Granados Sandoval, Adriana Hernandez, Johnathon Ngeth, Megan Beasley; VITA Treasurer Angela Amirkhanian; and VITA Vice Chairperson Natasha Suton. 

Van Nuys Airport generated jobs & $2 billion to the San Fernando Valley and L.A. Area's Economy
A new report released by the Los Angeles County Economic Development Corporation (LAEDC) showed that VITA member Van Nuys Airport (VNY) contributed more than $2 billion in business activity to the L.A. county economy in 2015.
The study confirms the airport's economic impacts include:
  • 10,480 jobs;
  • $674.6 million in labor income;
  • 2.0 billion in business revenues; 
  • $295.3 million in local, state and federal tax revenues.
VNY will be spending $63.9 million on Airport Capital Improvement Projects (ACIP) and non-ACIP projects through 2022 to meet future aviation needs in Southern California. The study estimates that the economic impacts of capital improvement projects include:
  • 670 jobs;
  • $37.2 million in labor income;
  • $107.5 million in business revenues; 
  • $13.0 million in local, state and federal tax revenues.
Investments by airport tenants in facilities at VNY are also resulting in positive returns. The study estimates that, for every $1 million spent on capital improvement projects, there will be positive economic impacts of $583,000 in labor income, a total of $1,682,300 in business revenue and a total of local state and federal taxes of $202,700.
Los Angeles City Councilwoman Nury Martinez said, "Our airport is a valuable infrastructure asset that provides business growth, job creation and economic vitality for both the Valley and the entire region. With the airport's nearly 90-year legacy of economic contributions and serving as a good neighbor, I am pleased to see my district and constituents continue to reap tangible benefits."
"VNY plays a critical role in Southern California by providing good paying jobs and generating business revenues that benefit our neighboring communities," said Los Angeles World Airports Commissioner Jeffery J. Daar. "As Los Angeles' No. 1 business airport and a world-class general aviation facility, we are proud of VNY's significant positive contributions to our region."
Los Angeles World Airports CEO Deborah Flint said, "We take our responsibility as long term stewards of this critical community asset very seriously. The LAEDC's findings reinforce LAWA's commitment to safely and securely bring people together, connect L.A. with a global society - while enriching the quality of life for individual travelers, the community and the region."
In 2015, VNY had approximately 217,000 operations, which generated operating revenue of nearly $16.9 million, including building and land rentals. The study estimated that approximately 32,000 visitors arrived in Los Angeles County through the airport with an economic impact of $9.1 million and supported 90 jobs with a labor income of $3.7 million.
201 7 Chinese New Year Dinner Party!
International Trade Outlook 2017
 
According to the Moody's Investor Services outlook for sovereign credit strength, the prospects for cross-border business transactions are negative, due to a number of factors.
 
The key drivers for this negative outlook are:
  • Low economic growth rates. These rates of growth have been declining as the central banks favored monetary solutions become more ineffective over time.
  • High (and increasing) public sector debt levels, which limit the actions which government agencies may take to encourage exports and trade.
  • Increasing political tension from rising nationalism may lead to trade barriers & tariffs.
  • Regional capital outflows in Africa and the Near East.
  • The effects of automation weakening labor markets in industrialized nations.
  • Emerging instability in frontier and commodity-based nations. 
All of these factors tend to depress interest rates, leading to weaker growth and profit pressures within certain financial sectors.
 
Internationally, the European Central Bank's efforts to jump-start growth through a more accommodative monetary policy are at odds with monetary trends in the U.S. This discrepancy may lead to a stronger dollar compared to the Euro, and impede the ability of American manufacturers to expand their markets into Europe.
 
Specifically within the U.S., there are financial and political factors affecting our ability to encourage trade and export. For example, Federal and local governments' ability to contain the cost of entitlements may lead to higher budget deficits with negative effects on business growth.
 
Increasing worker productivity becomes problematic when businesses are facing higher labor and energy costs (OPEC/carbon taxes) through government mandates. In addition, there is a growing wave of pressure to increase taxes for infrastructure rehabilitation.
 
Additionally, President-elect Donald Trump spoke repeatedly on his desire to bring manufacturing jobs back to the U.S. and blamed NAFTA and other "free trade" agreements for making the U.S. less competitive in world markets. Look for attempts to change the import structure in the U.S. through higher regulatory hurdles, increased tariffs, and tax incentives for companies to manufacture & produce domestically.
 
What businesses can do to prepare:
  • Search for local suppliers for products or materials which may be affected by changes in trade policy.
  • Negotiate with overseas suppliers to lock in prices now for goods not found domestically.
  • Speak with your banker to hedge (foreign exchange) exposure to goods priced in foreign currencies.
Remember, the future always favors those who are prepared!

source: www.moodys.com
ExporTech is coming to the San Fernando Valley! 

ExporTech is a proven nationwide program for top executives of small and mid-sized companies designed to guide a process of creating and implementing an export expansion plan.  The City of Los Angeles' new Export Initiative program is sponsoring an opportunity for area companies to participate at a subsidized cost on  February 16th, March 30th, and April 27th at  The Entrepreneur Center in Pacoima.

The offer extends to two top executives to register for a deposit amount of $750, which will be refunded once both executives have attended the initial session.  The program fee of $5000 per company is only due when the company has implemented the export plan, and generated $100,000 in new export sales. 

This exciting program has been successful in creating many millions of dollars in new exports for companies across the United States. There are already successful exporting participants in the San Fernando Valley.  Participants will have three in-depth sessions with experts in various aspects of exporting, and the opportunity to create a new export plan.  Plans will include implementation steps.  Instruction and expert support are tailored to the specific resources, needs, and markets of the participating companies.

Visit www.cmtc.com/exporting for more information and to register.  
Asia Pacific Business Outlook Conference

Now in its 30th year,  Asia/Pacific Business Outlook (APBO) is North America's premier event for business leaders who want to expand their trade and investment in the Asia/Pacific region. Set for
March 27 and 28, 2017 at the L.A Hotel, the USC Marshall School of Business and the U.S. Department of Commerce have been working together on APBO since 1988 to help exporters and investors take advantage of tremendous opportunities and overcome challenges in the constant changing economies of Asia. More than just a business conference, APBO is a comprehensive networking and learning experience designed to provide business leaders with the contacts and the latest, relevant and valuable information available - all focused, organized and distilled into two invaluable days.
The conference attracts a nationwide group of about 300 American managers who operate throughout the Asia/Pacific region. The conference provides a unique mixture of over 50 leading academic, business and government experts to advise a diverse audience of American firms on how to become more competitive in the dynamic Asia/Pacific marketplace, including private one-on-one appointments with senior commercial officers from American embassies and consulates in 17 economies.

Visit  www.apboconference.com  for schedule of speakers and to register. 
The Valley International Trade Association | 818-379-7000 | 
The mission of The Valley International Trade Association is to promote the Greater San Fernando Valley 
as a leader in international trade by providing valuable resources, informational programs, referral assistance, 
and networking opportunities.  

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