BOSTON - Thursday, June 17, 2010 - The Massachusetts Office of International Trade and Investment (MOITI) today announced the start of its innovative Pathways to Partnership program, which will act as a business incubator for established foreign companies seeking to create a beachhead in Massachusetts as a means to enter the U.S. market.

 

"Foreign direct investment has the potential to play a key role in the economic recovery," said MOITI Executive Director Ted Carr, citing the important role foreign companies play in the Massachusetts economy.  "By providing foreign companies a place to grow and innovate in Massachusetts, we can stimulate future job growth and private investment in the Commonwealth for years to come."

 

The business incubator, which officially opens on July 1, 2010, will be based at MOITI's headquarters in the Seaport district of Boston.  The space provides low cost, non-technical office space and direct access to government expertise in exporting and investment.

 

"Our office handles over 10 events a week with some of the best and brightest of the international community looking to make inroads in the Commonwealth," continued Executive Director Carr, noting networking opportunities available for the new companies.  "Having promising companies onsite provides opportunities for new connections and pathways for new investment and ideas.  We want to foster an environment of collaboration and mutual benefit to help these companies grow and create jobs in Massachusetts."

 

Foreign companies operating in Massachusetts account for 178,400 jobs - roughly 6 percent of the total workforce of the state.

 

The Massachusetts Office of International Trade & Investment (MOITI) works to expand the Massachusetts economy by marketing the state's business internationally, through focused export promotion, attracting foreign companies to invest in Massachusetts and handling protocol as it relates to trade and investment.

 

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