Recently, Schneider Downs participated in an education session hosted by Pittsburgh Regional Alliance for several U.K. companies on a trade mission from the North West of England. The companies are visiting the U.S. with plans to expand sales of goods and services by establishing a presence here. In many cases, these entities, which vary in scope and size, already have U.S. customers. They recognize the opportunity that the U.S. market provides.
We provided the companies with an overview of U.S. tax and business considerations related to operating in country. In our discussions with the companies, it was clear that they were excited at the prospect of expanding in the U.S. What was perhaps a bit surprising was that every company that manufactured a product was looking to add U.S. manufacturing activity, once they established a local market. Not only are we seeing U.S. companies bringing manufacturing back to North America, but now we see foreign businesses recognizing the skill and productivity of American workers.
U.K. Trade & Investment, the U.K. government organization that arranged the trade mission, is actively working to help develop the North American markets for U.K.- based companies.
Note that the U.S. also has similar outbound programs for U.S. companies looking to expand overseas. These programs are generally administered by various state agencies, including Pennsylvania and Ohio.
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