Three important commercial institutions for Israel and Illinois

Three important commercial institutions for Israel and Illinois

Currently, Israel is the only country with free trade agreements with the United States, due to the great relationship between them. One of the most important factors for this connection is the great Jewish community that some cities in the United States has, like New York, Los Angeles, Kansas or Illinois. Besides this influential communities, the Jewish people established in America has created notable corporations, creating thousands of employments and economic benefits, both for Israel and the United States.

To promote all these business opportunities, both the Government of the United States and Israel, have created and supported different institutions to be responsible for the strengthening of the commercial relations between companies of both countries, especially in Illinois, which has been increasing its participation in this profitable approach. In this post, we will see some of these associations, and their essential role to stimulate the cooperation between organizations from different industries in Israel and Illinois.

Some commercial stats

Before we see these significant institutions, it is important to know some important insights about the commercial relationship between Israel and the U.S. For 2015, Illinois imported products from Israel for more than $700 million dollars. For this same year, Illinois exported more than $400 million dollars to Israel. Due to this numbers, Illinois ranks 7th among all the United States cities which have commercial relations with Israel.

In 2015, Illinois exported to Israel more than $60 millions of dollars in computer and technological products, more than $90 millions in agricultural means and more than $45 millions in machinery. For this same year, Illinois imported almost $100 million dollars in technology articles, more than $150 millions in chemicals and almost $200 millions in machinery.

Having this context clear, we can talk about some promoting commercial institutions for Illinois and Israel.

Related: Some important exportation and importation statistics between Illinois and Israel by Yosef Meystel

The America – Israel Chamber of Commerce for Chicago (AICC)

Since its foundation in 1958 by Marty Sandler, a Jewish business leader from Chicago, the AICC has been one of the most important allies for those American organizations thinking to venture into the Israeli market. In other words, this institution takes care and connects all those businesses from Chicago that are considering to establish commercial participation in the State of Israel.

The America – Israel Chamber of Commerce for Chicago, not only brings closer those businesses that want to be part of the Israeli market but also facilitates the investment conditions for those organizations, giving educational programs and capitations. In addition, the AICC gives support and counseling to companies from any industrial sector that want to expand their functions to Israel.

On the other hand, the AICC also helps and supports those Israeli organizations that want to make businesses in the United States, taking advantage of the existing trade agreements between them and their excellent relationship.

The Israel Trade & Economic Office for the U.S. Midwest Region

This institution not only supports the commercial relation between the United States and the State of Israel but also promotes it with other countries around the world. Currently, this association has 5 main offices (Washington, D.C., New York City, Chicago, Houston and San Francisco). For the American Midwest Region, the Israel Trade & Economic Office for the U.S. Midwest Region has presence in Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, Wisconsin.

The main purpose of this institution is to promote the cooperation between American and Israeli organizations from different industries, creating the best commercial opportunities for them. In addition, the Israel Trade & Economic Office for the U.S. Midwest Region gives essential business and contacts information to these firms, thanks to its great networks with companies not only from the United States and Israel but also from other countries around the world.

The Israel Trade & Economic Office for the U.S. Midwest Region also promotes different events and exhibitions for multiple industries. Some of the most important are Utilis Innovation Summit, the Israel at Mobile World Congress 2016, the Chicago Water Summit, or the TAU Innovation Conference 2016.

The Binational Industrial Research and Development Foundation (BIRD)

Created in 1977, this foundation does not only work specifically between Illinois and Israel but also has presence in the entire U.S. soil. Since its birth, this institution has supported and stimulated all those private organizations from the high-tech industry, funding them up to 50% for their research and development activities.

The BIRD has supported important technology projects for giant organizations like AOL, Bayer Pharmaceutical, IBM, General Electric, among other organizations. Currently, the Binational Industrial Research and Development Foundation has given more than $8 billion dollars in funds.

Although the BIRD stimulates the all the commercial relations between Israel and U.S. organizations, is a great alternative for those technology companies located in Illinois that want to increase their operations in Israel, due to its benefits and funding.

Image courtesy of Kevin Zolkiewicz at Flickr.com

* Featured Image courtesy of Jonathan at Flickr.com