Do You Know Who Dominates Our Trade?
Want to show your smarts? Try asking someone this question: who is the United States’ number one export partner? My guess is they will say China, Japan, Europe and depending on what part of the country you’re in, maybe Mexico. But the answer is in fact Canada.
Although it may seem like trivia, the question is important for a couple of reasons. Trade creates jobs, and Canada estimates that it supports over 8 million U.S. jobs. Of that, Canadian-owned business support close to 500,000 employees in the U.S. and provide jobs in every state.
As to the amount of Canadian trade with individual states, geography obviously matters. But still, for 35 states, Canada is #1. How does Arizona stack up – does Canada rule? Almost.
Due to our proximity to Mexico and shared border, Mexico wins – with $6 billion in trade. But Canada is second, with $2.1 to billion (in 2011according to the Commerce Department: http://www.commerce.gov). China, Japan and the United Kingdom are third, fourth and fifth, respectively. All together, almost half of Arizona’s $17.8 billion in trade in 2011 came from these five countries.
Other factors contribute to the significant Canadian presence in Arizona. The number of Canadian owned businesses in the state means lots of Canadians working here. For a list of many of those companies and the importance of the Canadian connection, visit the website of the Canada Arizona Business Council, a 501(C)6 non-profit corporation whose purpose is to promote increased trade and investment between Arizona and Canada: http://www.canaz.net.
And of course, Canadian tourism brings lots of spending to the Phoenix metro area, as well as investment here in residential and commercial real estate. And that leads to more trade with the frozen north.
For more information on what the Canadian presence here means to you and your real estate needs, go to our website, www.simplysoldaz.com or give me a call at 480 675 0112.
N. Mark Kramoltz © 2015