News from the Region

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HTMC Antony Phillipson & The Importance of the UK to Our Economy

We were honored to host Antony Phillipson, Her Majesty’s Trade Commissioner (HTMC), in our region yesterday. While we roll out the read carpet for everyone who visits the Research Triangle, we were especially excited to have the Trade Commission with us because of the United Kingdom’s importance not only to the economy of the United States but also the economy of North Carolina.

 

Here are a few examples to illustrate this importance:

 

The United Kingdom & The United States

  • The UK is the single largest investor in the United States with companies in all 50 states.
  • British companies have invested $540 billion in the United States.
  • More than 25 million Americans work for British-owned companies in the United States.
  • The United States exports $126 billion to the United Kingdom, making it the United Kingdom’s 2nd largest source of imports.
  • Meanwhile, the United States imports around $115 billion from the United Kingdom.

 

The United Kingdom & North Carolina

  • The U.K. subsidiaries are supplying close to 40,000 North Carolinians with jobs.
  • Our region is a major beneficiary with companies like:
  • North Carolina exports approximately $1 billion to the United Kingdom and imports around $1.75 billion.

 

The Trade Commissioner joined us for a luncheon to provide the opportunity to gain a better understanding of the business and trade climate in the United Kingdom post Brexit.

We have many similarities, very innovative and research rich and relatively high wage. How do we work together to write the rules and framework to drive the global economy.
– HTMC Antony Phillipson

 

We look forward to continuing our relationship with Trade Commissioner Phillipson and finding additional opportunities for partnerships and collaborations between our region and the U.K.

 


RTRP Board Chair Keith Burns, HTMC Antony Phillipson, RTRP Board Chair-Elect Jim Hanson, and RTRP Executive Director Ryan Combs