Export Sales Results
The FY 2018 Quarter 2 sales results are in and companies reported over $153 million in facilitated sales to more than 100 countries! The International Trade program is on track to meet the FY18 goal of $630 million in facilitated export sales. Since the program was re-established in 2011, the program has facilitated over $2.1 billion in export sales, equating to 10,287 Michigan jobs. The team is looking forward to another great quarter!
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Meet with Brazil and Mexico Michigan Trade Centers
Find new markets today! Discover the potential your company has to export to Brazil and Mexico. The Michigan Trade Center directors from Brazil and Mexico will be visiting Michigan May 21-24, 2018. If you’re interested in meeting with a country representative, please contact your International Trade Manager or email export@michigan.org to learn more.
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Travel dates and locations:
- May 21 – Troy
- May 22 – Ann Arbor
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May 23 – Saginaw
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May 24 – Grand Rapids
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Michigan Online Global Program
Free webinar to help Michigan companies find international success online
Hosted by IBT Online
May 16, 2018
Click here for details and registration!
The Michigan Economic Development Corporation is pleased to announce the extension of its Online Global Program with IBT Online to include international marketing. Whether you sell directly or via distributors, global websites and marketing that deliver are essential for your modern international sales strategy.
Join the MEDC and IBT Online on May 16, 2018 for a webinar dedicated to Michigan companies who want to succeed online internationally. This webinar will offer expert advice, focusing in on how Michigan exporters can leverage localized websites and international online marketing to build their global brands and boost sales. You’ll also learn about financial support available to Michigan companies who sign up to the program.
Can't attend? Don't worry, register today and we'll send you a recording.
IBT Online Job alert!
IBT Online helps companies expand globally by establishing and managing their global online presence through website localization and international online marketing. IBT Online is seeking a new Online Business Development Manager to support the MEDC program in Michigan. Help IBT Online grow their US corporate client base while helping these companies achieve their international export and business development growth.
If you have the spirit of entrepreneurial zeal, marketing and sales experience, passion about the internet and international business, and want to join an agile team that has to move fast and produce results, apply today!
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Tax Reform Benefits for Corporate Exporters
Prepared by Suzanne Tucson, Shareholder – International Tax Services, Clayton & McKervey
The Tax Cuts and Jobs Act created a deduction for Foreign-Derived Intangible Income (FDII). The name of this deduction is misleading, it is actually a deduction against qualifying export income after a routine rate of return. A high-level explanation of FDII is that it provides a reduced federal tax rate of 13.125% for C corporations on the residual income from the sale of exported products and services after a deemed routine rate of return. The deduction is formula driven, allowing for a 50% deduction against qualified export income after subtracting a deemed rate of return defined to be 10% of qualified fixed asset investment. The deduction is 50% for years beginning before December 31, 2025 resulting in a 13.125% tax rate (corporate tax rate of 21% x 50%). For years beginning after December 31, 2025, the deduction is reduced to reach a 16.406% federal tax rate on this income.
Foreign deduction eligible income is the income derived in connection with property sold, licensed or leased to a person outside the US or services provided to persons located outside the US or with respect to property located outside the US. Qualified fixed asset investment is the average adjusted basis in depreciable tangible property used in the corporation's trade or business to generate deduction eligible income.
Since this deduction is formula driven, it will be important to understand the definitional requirements for determining deduction eligible income and making the appropriate computations to reach the allowable deduction. If you are a C corporation with export sales, speak with your tax advisor regarding how you may be able to take advantage of this deduction.
Any information provided is solely for informational purposes only and does not constitute an endorsement or recommendation by the State of Michigan, the Department, or its officers, employees, or agents. The information does not constitute legal or financial advice, nor is it an assurance, guarantee or warranty of the accuracy, completeness, or usefulness of the information. The State of Michigan and its employees or agents shall not be liable for any damages arising from the use of or reliance on the information.
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Upcoming Events
Farnborough International Airshow
July 14-21, 2018
Cost –$4,500 | additional company participants: $2,000
Registration Deadline – May 4, 2018
Last chance to register!
Meet stakeholders, influencers, and decision makers in the aerospace industry – one of the fastest growing industry in the world. Join the Michigan Economic Development Corporation’s trade mission to the Farnborough International Airshow 2018 in Farnborough, England.
Farnborough International Airshow provides a platform to display the developing technology used within the aerospace industry with company exhibits, product briefings, conferences, and demonstrations. Farnborough is the largest aerospace event of 2018, offering unique opportunities to connect with foreign buyers and develop international business. The Michigan booth will be located in the U.S. Pavilion and can accommodate eight exhibitors.
For more information, please contact Jacob Schroeder, MEDC International Trade Manager, at schroederj4@michigan.org or by calling 517-898-7462.
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Michigan China Week
May 6-9, 2018
Detroit, Ann Arbor, & Grand Rapids
Click here for details!
The State of Michigan is celebrating Michigan China Week from May 6-9, 2018, in the cities of Detroit, Ann Arbor, and Grand Rapids. Government and business delegations from six of Michigan’s partner provinces in China—Guangdong, Sichuan, Hebei, Liaoning, Jilin, and Heilongjiang— will travel to Michigan to attend this bilateral exchange.
During Michigan China Week, we will celebrate Michigan’s relationships with our partners in China, welcome our Chinese partners to Michigan, and lay a foundation for continuing collaboration between Michigan and important regions of China.
For more information, please click here. If you are interested in attending any of the events, please contact Weiwei Lu at luw@michigan.org
Legal Essentials to Export Events
Next Event: Lansing – May 17 – Export Control Compliance Overview Training
Learn how to take your product to international markets during one of the “Legal Essentials to Export” events Foster Swift is offering in 2018!
These educational programs are designed to help businesses identify legal and compliance issues that are relevant as businesses pursue export opportunities. Join Foster Swift Collins & Smith PC and special guest speakers for an interactive workshop to learn tips and tools to ensure compliance. Seminars are free, but registration is required.
More Event Dates and Topics
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June 21 – Traverse City: Intellectual Property & Business Partner Due Diligence & Export Control Compliance Overview Training
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September 19 – Grand Rapids: Intellectual Property & Business Partner Due Diligence
Click here for program descriptions and registration.
Legal Essentials Training Videos
Check out these simple training videos to learn more about international trade topics today!
To see a full list of MEDC International Trade events click here!
Partner Events
Automotive Manufacturing Meetings 2018 Webinar
U.S. Commercial Service
May 2, 2018
Virtual
11am – 12pm
Free
Join us for this May 2 webinar to learn about this October event tailored for OEM automotive supply chain and sales. Automotive Manufacturing Meetings is a unique event, launched in 2016, which brings together industry leaders, key trade associations, domestic and international buyers, as well as other key players in the automotive supply chain. AMM Detroit is highly relevant to your company in seeking new supply chain sales opportunities globally.
What you’ll gain from joining this webinar:
- Just what is AMM Detroit?
- What opportunities exists in working with attending automakers, such as FCA, Nissan, Honda, and BMW
- Understanding which Tier-1 suppliers, including Magna, Delphi, Bosch, and Valeo, will be on hand at AMM Detroit
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Insights into visiting international delegations from countries such as Germany, Japan, South Korea, and Mexico
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Learn about AMM Detroit technical spectrum and capabilities requirements
Click here for details and registration.
Michigan Minority Procurement Conference
U.S. Commercial Service
May 8-10, 2018
Detroit
8am – 4pm
Registration levels start at $100
The Michigan Minority Procurement Conference (MMPC) is the state’s premier business conference that focuses on connecting national and local corporations with the top minority business enterprises (MBE) in Michigan. This three-day event held annually in Detroit at COBO Center features an action-packed trade floor with over 400 exhibitors featuring businesses eager to network and collaborate. The event also features business workshops, seminars, industry-specific forums, business consulting sessions, and a procurement matchmaker where MBEs can speak one-on-one with corporate buyers.
Click here for details and registration.
A Renewed NAFTA: The Key to an Enduring North American Prosperity
World Affairs Council of Western Michigan
Tuesday, May 8, 2018
Grand Rapids
12pm – 1:35pm
$35
As a part of the West Michigan World Trade Week, the World Affairs Council of Western Michigan invites you to the Diplomatic Corps Luncheon. Keynote speaker Ms. Kirsten Hillman will present the topic of A Renewed NAFTA: The Key to an Enduring North American Prosperity. Ms. Hillman is the Deputy Ambassador in Canada's Embassy in Washington D.C.
Click here for details and registration.
U.S.—China Innovation Ecosystem Conference
TusLink
Tuesday, May 8, 2018
Ann Arbor
12:30pm – 5:30pm
Free
TusPark is hosting the TusLink U.S. – China Innovation Ecosystem Conference to cultivate and develop a rich ecosystem of innovation exchange between the United States and China. The goal is to develop a platform of exchange for science and technological innovation, improve cross border cooperation, and develop channels for investments to flow between China and the U.S.
The Conference will interconnect many critical resources from government agencies, enterprises, science parks, accelerators, and entrepreneurial communities in the U.S. and China. As a result, Chinese-U.S. entrepreneurs and investors in fields such as mobility, fintech, biosciences, robotics, and medical devices will thrive via partnership in pursuit of radical and mutually beneficial development.
Click here for details and registration.
U.S. Harmonized Tariff Classification Numbers Webinar
U.S. Commercial Service
Tuesday, May 8, 2018
Virtual
1pm – 2pm
$25
In this webinar, exporters will learn about the relationship between the Schedule B, Harmonized Tariff Schedule (HTS), and the International Harmonized System. They will also learn how to search the U.S. Customs "CROSS" database for rulings on HTS classification. This webinar is for the beginner or new to exporting U.S. small and medium size business.
Click here for details and registration.
Cross-Border E-Commerce Revolution
Alibaba
Wednesday, May 9, 2018
Detroit
9am – 1pm
$125
OpenSky, an Alibaba company based in the U.S. empowers western businesses to think and operate globally. Today, China is by far the largest e-commerce market in the world, double the annual sales of the next largest market, the US. With the emergence of a new, young, and global middleclass consumer in China, western product sales are at an all-time high.
The Cross-Border E-Commerce Revolution event covers how North American businesses can take advantage of global trends to gain distribution and operate more efficiently. Alibaba is a global leader in e-commerce and helps western businesses every day to export their products to China and source goods efficiently. The event will cover specific ways to test the Chinese market through the Rising Star program.
Click here for details and registration.
The West Michigan World Trade Week
Van Andel Global Trade Center
Wednesday, May 9, 2018
Grand Rapids
11:30am – 7:30pm
$125
West Michigan World Trade Week is a celebration of international trade and business growth for the West Michigan region. Business and community leaders convene to share international business knowledge and resources at the annual business conference and networking events scheduled throughout the week. This event highlights the link between international trade and Michigan's economic well-being, recognizes the contributions of international trade to job creation in Michigan, commends companies succeeding in global markets, and supports the annual proclamation issued by the President of the United States declaring World Trade Week in May.
Click here for details and registration.
International Documentation Training
East Michigan District Export Council
Tuesday, May 15, 2018
Detroit
8am – 4:30pm
Register by May 10 / $295
This program will help attendees understand when and how they should be filling out certain export documents. Trainer, Mike Allocca, will teach attendees which documents are required, where to find them, and how to fill them out. The training will help you avoid the shipping delays, customs audits, and additional charges that can result from incomplete or inaccurate documentation. Join us for this important training and keep your customers, your distributors, and your company running efficiently and effectively.
Topics Include:
- Understanding how to correctly fill out commercial invoices, packing lists, bills of lading, EEI’s, certificates of origin, and dock receipts
- Shippers Export Declaration
- How to minimize customs delays
- Why you should be using a DCS Statement on all your invoices
- Understanding which countries still require a wood certificate
- What Legalization of Documents means and for which countries is it required
- Pre-Shipment Inspections
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NAFTA Certificates of Origin
Click here for details and registration.
Doing Business in India
Global Business Club of Mid-Michigan
Tuesday, May 22, 2018
Lansing
11:30am – 1:30pm
$35
India is our 9th largest goods trading partner with $67.7 billion in total (two way) goods trade during 2016. Has your company considered the opportunities? Shantanu Sarkar is a U.S. Commercial Assistant based in Kolkata, India. As a member of the U.S. International Trade Administration's Commercial Services team, he works with U.S. businesses to help them enter and navigate the Indian market. Mr. Sarkar will present on opportunities and challenges for U.S. businesses entering the Indian market. Companies interested in one-on-one meetings with Mr. Sarkar should email sims@broad.msu.edu to arrange a time.
Click here for details and registration.
For more information about the MEDC International Trade Services
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