FLORIDA COMPANIES REPORT MORE THAN $62 MILLION IN TOTAL PROJECTED SALES FROM SINGAPORE AIRSHOW

Enterprise Florida-led trip provides exposure in Asia for aerospace and aviation companies

ORLANDO, FL (March 26, 2014) – Today, Secretary of Commerce and president & CEO of Enterprise Florida (EFI), Gray Swoope announced that the EFI-led Singapore Airshow resulted in more than $62.3 million in expected sales for 22 Florida companies and organizations. The Singapore Airshow was held February 11-16 and is Asia’s largest aerospace and defense exhibition.

“Florida has a very successful aerospace and aviation sector, and the state is serious about strengthening its position as a leader in the industry,” said Secretary Swoope. “We want to help Florida’s aerospace and aviation companies grow, and the Singapore Airshow gives these participating companies the exposure needed to maintain success in Florida and expand their export sales.”

The Florida Pavilion at the Singapore Airshow exhibited 22 aerospace and aviation companies, and was the largest among the U.S states represented at the exhibition. The show hosted more than 900 exhibitors from 70 countries and the visitor numbers surpassed 44,800 attendees.

Companies exhibiting in the Florida Pavilion included:

Velocity Aerospace Business Development Manager, Jennifer Lynds said, “This show was excellent for us! Being a first time exhibitor here, there was more foot traffic than expected. We received priceless leads, visited many of our current Asian customers, interviewed a future employee, and set up distribution partnerships. Through these new ventures, we are expecting to generate at least a half-million dollars in revenue over the next 18-24 months. We are looking forward to the next Singapore Airshow!”

Capital Avionics Inc. president, Al Ingle said, “The grant provided by EFI helped to make our attendance possible. At the airshow, we met and established good relationships with OEMs Bell Helicopter, Textron and Bombardier. The potential world sales resulting from their approval of our products is over $1 million over the next 36 months and many other contacts were made that could be worth hundreds of thousands of dollars. Our partnership with the Florida contingent was crucial to this show’s success.”

Loos & Co VP of Sales, Phil Cox said, “The Singapore air show is the major aviation event in Southeast Asia. The new contacts that were made will turn into additional sales for us into this region. Enterprise Florida is the leader nationwide promoting it’s small businesses. Without the grant we received we very well might not have participated in this event.”

EFI maintains an extensive schedule of overseas trade missions and exhibitions worldwide. In 2013, EFI hosted 40 domestic and overseas events with  912 small and medium-sized businesses generating more than $775 million in total projected export sales.

Results from recent EFI international events include:

  • HOSPITALAR, Brazil: Nine Florida companies reported combined total projected sales of $19 million.
  • MEDICA, Germany: Florida exhibitors who attended the Germany-based show reported $158,785,500 in total projected sales.
  • Dubai Airshow, Dubai: Dubai Airshow resulted in more than $67 million in total projected sales for 11 Florida aviation and aerospace businesses.

International trade and foreign-direct investment accounted for about one-sixth of the state’s economic output last year and supports an estimated one million jobs. Florida continues to have the highest trade surplus among all states, with total trade exports plus imports hitting a record of $162.2 billion. Florida has a number of strengths to leverage, including one of the fastest-growing international economies, strong air and seaport infrastructure, and a large and well-qualified multicultural workforce. Learn more about Enterprise Florida’s export assistance programs.

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Enterprise Florida, Inc. (EFI) is a partnership between Florida’s businesses and government leaders and is the principal economic development organization for the state of Florida.  EFI facilitates job growth for Florida businesses through recruitment and retention, international trade and exporting, promotion of sporting events, and capital funding programs to assist small and minority businesses.

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