MADISON, WI. MARCH 1, 2022 – The Wisconsin Economic Development Corporation (WEDC) is inviting Wisconsin companies to explore exporting opportunities during an in-person global trade venture to Germany and Austria from May 14-21. Registration for the venture closes March 11.
The trade venture will include visits to Munich, Linz and Vienna, with each city offer intriguing opportunities for the growth of Wisconsin companies. Throughout the week, Wisconsin companies in attendance will meet and connect with potential partners in the three cities. Customized one-on-one appointments with these potential customers, agents and distributors will allow participating companies to familiarize themselves with opportunities in Germany and Austria.
“Germany and Austria have longstanding ties with our state, so businesses there are familiar with the exceptional quality and value of Wisconsin products,” said Missy Hughes, secretary and CEO of WEDC, the state’s leading economic development corporation. “This is a great opportunity both for businesses new to the global marketplace as well as those looking to expand their international presence.”
Participants will depart the U.S. on May 14 and arrive in Munich the following day. Munich’s economy is centered around high-tech, automotive manufacturing as well as the service sector and creative industries. With a population of 6 million, the city’s metropolitan area is home to BMW, Siemens and many more multinational companies.
Munich is one of the largest cities in Germany, which features the world’s fourth-largest economy and, in annually exporting over $1 trillion worth of products, is responsible for more than one-fifth of the European Union’s GDP. Notable exports from Wisconsin to Germany include industrial machinery, medical and scientific instruments and miscellaneous chemical products.
Next, participating Wisconsin companies will travel to Linz for a day of one-on-one business meetings. Metal production, chemicals and pharmaceuticals highlight key industries in Linz, which is second to Vienna among Austrian economic centers. The city’s industries also include electronics, information technology and food production.
Participants will then proceed to Vienna for a final day of one-on-one meetings before returning to the U.S. on May 21. Home to 2.6 million, Austria’s capital city specializes in electrical and transportation machinery manufacturing as well as chemicals, metal products and consumer goods while also being a prominent center for banking, research and technology. Thanks to its diverse portfolio of industries, Vienna accounts for one-third of Austria’s GDP.
The trade venture costs $2,200 for a Wisconsin exporter’s first participant and $2,400 for a potential second traveler. While this fee includes hotels, travel within Europe and the numerous business opportunities, it does not cover flights between Wisconsin and Germany, which should cost participants roughly $1,100. Travelers also must pay for most meals during the trip.
Prospective participants have until March 11 to register for the trade venture. Additional details and registration are available at https://wedc.org/blog/global-trade-venture-germany-austria-2022/.