Detroit Economic Growth Corporation (DEGC) today announced that global commerce and foreign direct investment manager Sandra Choi has been named to represent the city of Detroit on the U.S. Department of Commerce Trade and Promotion Coordinating Committee (TPCC) State and Federal Export Promotion Coordination Working Group.
The first TPCC Working Group was mandated by Congress to improve the coordination of federal and state export promotion and financing resources by identifying issues and developing a strategy. Choi’s appointment is an example of Detroit’s effort to increase its international presence to bolster its foreign direct investment. Along with Peter Chapman, one of DEGC’s top executives, Choi is developing strategies to accomplish this task.
“This appointment advances DEGC’s work to implement an international economic development vision and agenda for the city of Detroit in concert with our local partners,” says Choi. “Our program provides international growth (export) opportunities for local manufacturers and promotes the city’s story of resurgence to foreign corporate prospects as well as to a broader stakeholder community.”
DEGC is a nonprofit organization that serves as an agency for business retention, attraction, and economic development initiatives in Detroit. Their trade and foreign direct investment program supports the global growth of local manufacturers and has started activities in four key areas:
1. Strengthening the regional trade/export ecosystem
2. Developing a set of international growth tools for Detroit companies
3. Advocating exports and trade growth as a critical cornerstone of the regional economy
4. Helping local firms leverage the Detroit brand in the global marketplace.
“Encouraging foreign firms to invest in Detroit and helping companies sell abroad are two sides of the same coin,” says Peter H. Chapman, DEGC’s executive vice president for business development. “Each generates jobs for Detroiters and this is an excellent time for us to ramp up our efforts to support both.”