Over the past 20 years the City of Akron and the Greater Akron Chamber have come together to build an internationally recognized public-private partnership that captures investment from around the globe and brings it right here to Northeast Ohio.
Since we began marketing to other parts of the world, foreign companies have been moving to Akron and Northeast Ohio to open offices, construct buildings, hire employees and to introduce their product/service to the U.S. market.
Transitioning to the U.S. market
Akron has worked hard to build relationships, showcase the city and sell our product internationally. What exactly is our product? Our product is to be foreign business friendly by providing a soft landing spot for international companies.
But we don’t stop there. We support the companies after they arrive by helping them develop and market their U.S. presence. If needed, we provide these transplant companies with a physical location to get started, such as our renowned Akron Global Business Accelerator, and also provide these newly established companies with business advisers to guide them throughout their transition to the U.S. market.
As a result of the overwhelming support and help we provide, companies can accomplish more in less time here than in any other region in the U.S.
By establishing and using international bridges with countries such as Israel, Finland, Germany, Lithuania, Italy, Slovenia and China we are able to commercialize products, not just in the U.S., but globally. Greater Akron is now home to over 100 foreign-owned establishments that employ more than 7,600 employees.
Attracting international business
Our latest product of our international bridge with Turin, Italy, is the establishment of Ravizza Packaging, which recently opened in the Akron Global Business Accelerator. Ravizza is an Italian-based company that sells packaging equipment. It has shipped a few machines here to get started, but intends to ultimately manufacture the machines in Akron.
This company is one example of how the City of Akron can cultivate foreign companies and attract new international business to our area.
Additionally, the long-time collaborative efforts of the Greater Akron Chamber and the City of Akron have developed into a high-profile international marketing initiative for both inbound and outbound activity collectively branded as Akron USA. These efforts were recently recognized by the International Economic Development Council when, in October, it presented The Greater Akron Chamber and the City of Akron with an Excellence in Economic Development Award in the category of Responding to Globalization for its Akron USA international marketing initiative.
Over the past 20 years, Akron USA has attracted more than $125 million in first-time foreign direct investment and approximately $200 million in additional business retention and expansion investment.