"Execs learn to deal in global market"
By: Peter Panepento
Source: The Erie Times
August 3, 2005

There are few corners of the globe that haven't felt the pull of Eriez Magnetics.

The Erie-based maker of magnets and metal detectors has long been one of the region's most prolific exporters -- shipping its goods east to Europe, west to Asia, north to Canada and south to South America.

But while Eriez Magnetics has grown comfortable selling overseas, its executives were still looking to learn more Tuesday at the annual Business Development Conference and Expo at Gannon University's Waldron Campus Center.

The event drew about 150 northwestern Pennsylvania businesspeople who were eager to find out how to better take advantage of federal, state and local programs aimed at helping companies export.

For Partha Venkatraman, Eriez Magnetics' director of business development, the event was an opportunity to learn about conducting business in the Middle East -- an emerging market that has been largely untapped by local manufacturing companies.

"If you know what you want, they can really help you get there," Venkatraman said of organizations like the Gannon University Small Business Development Center and U.S. Commercial Service. "In many cases, the fear of the unknown is greater than the unknown."

Demystifying the global market has been a goal of the seminar, which is in its third year under the sponsorship of U.S. Rep. Phil English, R-3rd Dist.

The Erie Republican said the seminar is an opportunity for northwestern Pennsylvania businesses to connect with representatives from the U.S. Commercial Service, Small Business Administration and other federally funded programs that are designed to help American companies compete overseas.

Northwestern Pennsylvania manufacturers have made strides in their exporting efforts in recent years, but they need to continue to explore new markets to succeed, English said.

U.S. assistant secretary for manufacturing and services Al Frink, the event's keynote speaker, echoed those sentiments.

Frink, who was appointed to the newly created position by President George W. Bush in 2004, said he is working with the federal government to create a more competitive business environment for U.S. manufacturing companies.

To get there, his office is working to help reduce the amount of money U.S. manufacturing companies pay for taxes, energy and health care and to meet federal regulations.

But perhaps his biggest job is helping U.S. companies compete more favorably with their counterparts overseas.

And, to get there, he said more manufacturing businesses need to take advantage of existing federal programs that are already in place to help U.S. companies export.

"It is not something you should be scared of," Frink said. "It is something you need to embrace."