Contact:
Stuart Doyle
(407) 956-5689
sdoyle@eflorida.com

Enterprise Florida’s support heightens global
recognition for state’s marine sector

   ORLANDO, FL (January 20, 2009) – Enterprise Florida has lent a helping hand to the state’s legacy leisure boating sector, which is striving to boost worldwide awareness of its products and services.

"The goal has been to increase exports and help the marine industry weather the economic downturn," explained Manny Mencía, Enterprise Florida’s senior vice president for international trade and business development.

Efforts have proven successful, with a notable result occurring during the 2007-08 fiscal year: Florida’s first pavilion at the Dubai International Boat Show. Enterprise Florida coordinated the pavilion, recruiting 23 exhibitors including eight "catalog" participants (businesses represented by their promotional materials). Collectively, these companies netted sales of more than $1.2 million, and expected sales of $116 million for the succeeding year.

"Dubai enabled our members to increase their international market exposure," said Frank Herhold, president of the Marine Industry Association of South Florida (MIASF), a nonprofit membership organization that promotes the growth of recreational boating in South Florida. Among MIASF’s members are manufacturers, suppliers, yacht and charter brokers, wholesalers, retailers and marinas.

"We greatly appreciate the support of Enterprise Florida in assisting us to enter a new sales region to generate new business," said DJ Parker, president of Neptune Group Yachting, an MIASF member, regarding the event.

For the current fiscal year, in addition to the Dubai event (March 3-7) Enterprise Florida has two other industry tradeshows on its schedule: Boot Dusseldorf in Germany (January 17-21), and the UAE and Moscow Boat Show in Russia (April 9-12).

"Recruitment for Dubai has just concluded with our selling out two Florida pavilions," said Julie Balzano, marine industry specialist for Enterprise Florida. "We have 22 Florida companies as confirmed exhibitors."

"As an $18 billion industry in Florida, recreational boating is a huge generator of economic impact," Herhold emphasizes. "And the recognition of that impact by Enterprise Florida is gratifying."

Herhold also acknowledges that competition from other states is a serious factor to be considered if Florida is to remain a leader in yacht sales and service.

Aside from MIASF, Enterprise Florida has partnered with and supported economic development organizations from across the state to support this global awareness initiative. Among them is the Business Development Board of Martin County, which, with Enterprise Florida’s guidance, is coordinating roundtable discussions through which area marine businesses receive advice on expanding their export sales.

There’s also the Sarasota-Manatee Economic Development Commission, selected by Enterprise Florida last May for a $60,000 Florida International Business Expansion Initiative (FIBEI) grant, a portion which was used to subsidize the cost of marine businesses’ participation in boat shows including Dubai. Volusia County received a FIBEI as well and is using it to aid local marine companies in meeting business goals.

Enterprise Florida had a hand in a recent industry success story: Jedison Catamaran, LLC’s signing of a multi-million dollar contract in December with Kymeera Investments, Ltd., a Nigerian company that develops its nation’s infrastructure by investing in privately financed projects and generating capital growth through partnerships.

Jedison, a Fort Lauderdale-based builder of core-composite power catamarans, will construct 10 that can carry 150 passengers for Kymeera’s new ferry transportation system, which will be located in Lagos.  Plans call for Jedison to build 20 more ferries during the next two years.

Enterprise Florida became aware of this exchange while registering Jedison as an exhibitor in the Florida pavilion at the upcoming Dubai boat show. During the Jedison-Kymeera negotiations, Enterprise Florida facilitated Jedison’s access in Nigeria to the U.S. Commercial Service, the trade promotion unit of the International Trade Administration. Commercial Service specialists, positioned in more than 80 nations, help companies initiate exporting or strategies to boost sales in international markets.

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Enterprise Florida, Inc. (EFI) is a partnership between Florida’s business and government leaders and is the principal economic development organization for the State of Florida. Headquartered in Orlando, EFI’s mission is to create and retain quality jobs and increase economic opportunities for Floridians by supporting strong and growing businesses and positioning Florida as a globally competitive business location. In pursuit of its mission, EFI works closely with a statewide network of economic development partners and is funded both by the State of Florida and by private-sector businesses.

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