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16 | I nsIgh t • M a r c h 2 0 14 w w w . i n s i g h t o n b u s i n e s s . c o m face time The simple statistic is 4.5 percent of the world population is in the United States, and the rest of the world is growing, and their economies are growing. became the co-applicant, and between those two regional planning commissions, they cover the entire 18-county new north area. we were awarded the grant funding, we hired a consultant and did a study. we're partnering with wedC on this trade mission. one of the countries that was identified in the strategic report as a very good fit for our companies was Columbia. Chile and Peru also were chosen because of the similarities in their economies. we're hoping to take up to 10 businesses. ose that have unique products that can be used anywhere in the world are certainly good candidates for any trade venture. wedC is putting together a training program for economic development people like myself. specifically, we'll be targeting companies that do some exporting already to go on the trade venture with us. is really has never been an area that we've concentrated on. most growth has come to our companies through their domestic markets, and it's a little more challenging to expand internationally. e companies need to feel that they're more comfortable doing this, and the economic development people need to feel comfortable talking about this. e simple statistic is 4.5 percent of the world population is in the United states, and the rest of the world is growing, and their economies are growing. e large economies in China, brazil and India are growing rapidly. for us who make products, that marketplace with 95.5 percent of the people outside of the U.s. is pretty enticing. and it isn't just necessarily what we make, it is also our technical expertise. ere are good, solid engineering firms that understand water, that understand the infrastructure challenges that developing economies are facing, and they have potential there, too. when we had our first training sessions, there were a lot of questions from the economic development people. ey said, 'is just isn't my world,' and I said, 'It's not mine either – it never was mine.' but at some point, we just need to jump off a cliff and go forward, because that's a huge potential for us for the future. It's a little bit scary to start dealing with other cultures, other languages, other rules and regulations. but the bottom line is there are a lot of people right here in wisconsin and at the federal level that can help them negotiate that stuff. businesses already have relationships with their economic development people, so that's a logical place for that to start. www.lptrust.com ASSET MANAGEMENT | WEALTH PLANNING | TRUST SERVICES Legacy clients benefit from the experience and intellectual capital of our highly regarded wealth management professionals, and our compelling analysis of risk, the economy and financial markets. Let us help you realize your vision for the future. Two Neenah Center Neenah, WI 920.967.5020 The right information in the right hands leads to exceptional results for your financial future. 14045_LPT_Insight_HalfAd_Mar2014_final.indd 1 2/19/14 2:56 PM