Goal is to attract Italian companies in energy, life science and biotech sectors to promote business development opportunities in Philadelphia
Philadelphia, PA – February 6, 2012 – The Italy-America Chamber of Commerce of Greater Philadelphia (IACCGP) will conduct a trade mission in Milan on February 28, 2012. The purpose of the mission is to encourage Italian-based companies in the renewable energy, life science and bio-tech sectors to consider business development opportunities in the Greater Philadelphia region. Led by IACCGP President Joe Auteri and IACCGP Executive Director Marco Circelli, the US trade contingent will meet with approximately 12 heads of Italian firms at Milan’s Pavia e Ansaldo Law Firm and will provide an indepth presentation about the region’s economic environment as well as analysis of local business development opportunities in the clean energy, life science and biotech areas. IACCGP board members Salvatore J. Patti, Senior Vice President of PNC Bank and Francesco S. Froio, Partner with ParenteBeard LLC will also be participating in the trade mission representing the Italy – America Chamber of Commerce of Greater Philadelphia and their respected Companies.
Working in conjunction with Select Greater Philadelphia, an economic development marketing organization dedicated to attracting companies to Greater Philadelphia, the IACCGP trade mission will use the Milan forum to showcase both the economic viability of Philadelphia as a positive place to do business as well as the Chamber’s ability to assist Italian firms in establishing Philadelphia-based operations.
Within a 200 mile radius of Greater Philadelphia is a GDP equivalent to the world’s 5th largest economy, behind the United States, China, Japan and Germany. The region is home to a highly educated workforce and over 100 top colleges and universities, and offers convenient and modern access to full-service airports and transportation systems as well as the lowest cost of living in the North East metro areas. As the home to 15 Fortune 500 and 34 Fortune 1000 company headquarters, Philadelphia is recognized as a viable hub for medicine, life science, renewable energy and scientific sectors. The mission will also provide Italian companies with an overview of the various stimuli and tax breaks promoted in the Greater Philadelphia region, especially for clean energy initiatives. As a cutting-edge region within the renewable energy sector, Philadelphia was named the “Greenest City in the US by 2015” by a key industry agency and is considered a leading player in energy innovation. The region is home to one of only three nationally-designated “Energy Innovation Hubs”, established by the National Department of Energy to position the US and the region as a leader within the energy industry. The Philadelphia-based Energy Innovation Hub will receive $159 million in funding over the next 5 years in order to help advance promising areas of energy science and engineering for innovation within the sector. As a leader in the renewable energy field, the Greater Philadelphia region offers access to various clean energy agencies and numerous incentives programs for renewable energy businesses, including 38 programs in Pennsylvania, 23 in New Jersey, and 8 in Delaware. Various national and local initiatives are underway to help fund clean energy projects, including $650 million thru The Alternative Energy Investment Fund, $40 million from the Ben Franklin Technology Development Authority, and many more.
The trade mission will educate participants about how the Italy-America Chamber of Commerce of Greater Philadelphia can provide assistance to Italian companies interested in business development opportunities in Philadelphia, including help with site selection, market studies, and partnerships.
Italy-America Chamber of Commerce of Greater Philadelphia