Gov. Asa Hutchinson and Arkansas Economic Development Commission Executive Director Mike Preston on Tuesday announced details of another trade mission to Europe, which begins Saturday.
The trip will be Hutchinson’s second to Europe after becoming governor. Described as a “business recruitment mission,” the schedule includes meetings with at least 20 businesses, a stop at the Farnborough International Airshow in London and the grand opening of an Arkansas office in Berlin. Hutchinson will also meet with U.S. Ambassador John Emerson while in Germany.
“We’re going to be attending the airshow in Farnborough that will have 84 of the top 100 aerospace companies across the globe — it will be represented by 50 countries, there at the airshow,” the governor said during a news conference on Tuesday. “Arkansas will have a significant presence.”
Hutchinson noted last year’s expansion announcement by Aerojet Rocketdyne, whose leaders finalized plans to add 85 new jobs at its operation in East Camden during a meeting with the governor at the Paris Air Show.
The governor said Arkansas’ presence at Farnborough this year gives the state the opportunity to meet with the world’s largest aerospace companies and market itself as a great location for the sector.
“Hopefully our visits there will continue to result in growth in our economy and the expansion of our aero-defense industry here in Arkansas,” Hutchinson said.
AEDC said that in 2015, five European countries were among Arkansas’ top 20 trading partners: Germany, France, the U.K., Belgium and the Netherlands. The five accounted for about 17 percent of all exports from Arkansas.
Arkansas’ exports to Germany totaled $102 million last year, making the country Arkansas’ 12th largest trading partner, AEDC said. Imports from Germany last year totaled $419.9 million, up nearly 53 percent from 2014.
Hutchinson’s News Conference (at 7:45)
The governor leaves Little Rock on Saturday and returns July 14. The governor’s first stop will be the airshow in London, a major gathering of some of the top companies in the industry. Arkansas will have a booth at the show, and the delegation plans to meet with several aerospace companies that already have a presence in the state.
On July 12, Hutchinson will travel from London to Berlin, where he’ll open the state’s new European office, meet with the U.S. ambassador and meet with representatives of German companies that have Arkansas ties.
Arkansas has offices in China and Japan — the Berlin office, the headquarters for Arkansas’ economic development efforts in Europe, will be its third international office.
According to AEDC, the office will be run by Cornelius Schnitzler, a German national with background in economics and trade who is fluent in German, French and English. The office’s annual budget is $250,000, which includes Schnitzler’s salary. The office will operate on a seven-year contract, with the state able to review and renew at the end of each year.
“It is a great opportunity to continue to expand our global presence, our marketing of our commerce here in Arkansas, our manufacturing capacity in this state,” Hutchinson said.
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