Wednesday, March 9, 2011

Council CEO Previews Governor's Trip to United Kingdom on NECN

MassTLC President & CEO Tom Hopcroft is interviewed on NECN on his participation in the UK leg of Governor Deval Patrick's Innovation Economy Mission. View full NECN interview.

Hopcroft will join Governor Deval Patrick and a coalition of state officials and business leaders on the Massachusetts Innovation Economy Partnership Mission 2011 to the United Kingdom on March 14th. The UK mission is part of a larger effort by Governor Patrick to expand economic opportunities overseas and to bring global companies here. The initiative kicked off with a delegation of Massachusetts technology and other leaders traveling to Israel, which MassTLC helped organize.

"We applaud the Governor for taking the initiative to boost our state's technology industry by embarking on these trade missions," said Hopcroft. "MassTLC is leading an aggressive effort to create 100,000 new technology jobs in the state this decade and the Governor’s commitment to bringing global companies to Massachusetts and opening doors for Massachusetts companies overseas is critical to realizing that aspiration."

Last year, MassTLC unveiled its "2020 Challenge," an initiative that aims to create 100,000 new information technology jobs in the Commonwealth by the end of the decade. During the trip, Hopcroft and eight MassTLC member company executives will join the Governor and other participants in making company visits, meeting with government and business officials, and participating in roundtable discussions with economic leaders in London and Cambridge.

"I’m excited to have Tom Hopcroft and all the MassTLC executives joining our great coalition of leaders on this trade mission," said Governor Patrick. "The Council is leading an ambitious effort to grow the state’s information technology industry and its participation in this mission will go a long way towards forging lasting economic ties and partnerships between Massachusetts, Israel and the UK."

The Massachusetts delegation will arrive in Israel on March 7th, and depart the United Kingdom on March 17th to return to Boston.

Today there are nearly 100 companies with Israeli founders or Israeli-licensed technologies in Massachusetts. In 2009, these companies employed nearly 6,000 people and generated $2.4 billion in direct revenue for the state. Local firms exported over $180 million worth of goods to Israel in 2009 and, at 12.35 percent, the United States is Israel's largest source of imports.

There are currently 478 companies with UK ties in Massachusetts and 225 UK-owned companies have facilities in the state, employing some 40,100 Massachusetts residents. Additionally, 253 Commonwealth-based companies have established operations in the UK. Massachusetts companies exported over $4 billion worth of goods to the UK in 2009 and the United States is the UK's second largest source of imports at 9.74 percent. For two years in a row, the UK has been the largest market for Massachusetts exports.

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