A symposium focusing on the benefits and importance of international economic development in North Texas was held recently at the Naveen Jindal School of Management.
The Sept. 27 event — “Driving International Economic Development in North Texas” — was presented by the Center for Global Business at the Jindal School and organized by Hubert Zydorek, director of the center, and Mike Skelton, chairman of the center’s advisory board.
A group of organizations, described as ‘eco-partners’ in the international ecosystem that operates within the North Texas region, shared their experiences, challenges, and the benefits of bringing international companies to the area. Representatives of international companies with a presence in North Texas were also part of the program.
“This is what universities do,” said Dr. Hasan Pirkul, Caruth Chair and Jindal School dean, in opening the symposium. “We are here to build bridges … The genius of America is immigration, bringing new people with new ideas … This continues to be a driving force in our economy. They work here, but more importantly, they build bridges back to their homeland, or their father’s or grandfather’s homeland.”
Keynote speaker Chris Wallace, CEO of the North Texas Commission, a public-private partnership dedicated to advancing the vibrancy of the North Texas region, spoke on the topic of “Maintaining the Economic Competitiveness of North Texas.” He touted the D-FW region’s central location, access to D-FW International Airport and housing availability as some of the reasons why so many companies want to set up in this area.
“North Texas also has a safe, diversified economy that brings other companies here,” he said. “When one industry is down, others are up.”
Among future objectives to keep the area competitive are strengthening water resources and building the area’s brand internationally, Wallace said.
The first of four panels featured a discussion by city economic development representatives. The moderator was John Stephens, president of the board of directors for the city of Dallas Economic Development Corp. and general partner of MJ Lupton Partners. Panel members were Diana Velazquez, responsible for daily operations at the Irving Economic Development Partnership; Doug McDonald, who leads the Economic Development Dept. for the city of Plano; and Dr. Calvin D. Jamison, vice president for facilities and economic development at The University of Texas at Dallas.
They agreed that, while there is friendly competition among the cities for company relocations, cooperation and mutual support are key factors in attracting companies to the Dallas-Fort Worth area.
“A successful Plano means a successful North Texas and vice versa,” McDonald said. “The workforce is sometimes a challenge and a question for us, but the cities work together (to address issues).
Helping to provide an educated workforce is one of the initiatives at UT Dallas, Jamison said.
“We have been an economic engine for the area and that was one of our initiatives,” he said. “Many of our international students stay here. We produce talent.”
The Higher Education panel was moderated by Dr. Mike Peng, the O.P. Jindal Distinguished Chair of Global Strategy at UT Dallas and executive director of the Center for Global Business. Panel members were Zydorek, also a professor of instruction in the Organizations, Strategy and International Management Area; Jason Galui, director for Veterans and Military Families at the George W. Bush Institute and founder and CEO of 4 Liberty Consulting LLC: and Dr. Kevin Wortley, dean of academic affairs in the School of Business Hospitality and Global Trade at Dallas College. Their discussion focused on their institution’s support programs for international-based companies entering the region.
In addition to providing an educated workforce, universities are also engaged in other programs to prepare students to work in a global environment.
“We want all of our students to go abroad and not all are English-speaking students,” Peng said. “There is a movement to have more English-speaking courses across the world and that will allow more of our students to go abroad and more of their students to come here.”
A panel discussion by representatives of nonprofit and for-profit supporting organizations was moderated by Al Zapanta, president and CEO of the United States-Mexico Chamber of Commerce and chairman and CEO of the US-Mexico Cultural and Educational Foundation. Panel members were Ruth Baron, president and chairwoman of the European American Chamber of Commerce and senior vice president of The Point Group; Kamal Fulani, executive director of the U.S.-India Chamber of Commerce; Robert Smith, partner, Saville CPA’s; and Elsa Manzanares, partner, Stinson LLP Attorneys.
Their discussion centered on their efforts to work with international companies that want to come to North Texas, including helping them understand tax and business regulations in the U.S.
“I would say that we are matchmakers for companies,” said Baron, whose organization provides a range of services for companies relocating to North Texas.
As an attorney, Manzanares has encountered companies that relocate to the U.S. without adequate preparation. “That’s when they come to me,” he said.
The final panel of the symposium centered on the international ecosystem in North Texas and Japanese companies.
“We are focusing on Japan as a case study,” said the moderator Dr. Sam (Hisashi) Shichijo, honorary consul of Japan in Dallas, Consulate of Japan, and a research professor at UT Dallas’ Texas Analog Center of Excellence. “In two years, D-FW will surpass Houston as having the largest Japanese population in the state.”
Panel members were Yoichiro Suzuki, senior vice president, of strategy, of NTT DATA Services; Rona Tison, executive vice president, of corporate relations of green tea company ITO EN (North America) INC.; Shin Takahashi, global strategy consultant and former CEO and chairman of NEC Corporation of America; and Hideto Nishitani, president, Virtuous Capital and former CEO and chairman of ORIX USA.
“Our company moved here (from New York) because the area is business-friendly, its central location and the quality of life,” said Tison.
A shrinking population in Japan has reduced growth opportunities for companies, according to Nishitani. “The U.S. is the most innovative and Texas is the source of innovation,” he said.
As a consultant, he recommends that Japanese companies coming to the U.S. look at government funding.
“It is more than the money,” he said. “It is to become part of the ecosystem. There are a lot of opportunities if we meet at one table and work together.”
Lawrence Howorth, founder of Howorth International LLC, and advisory board member of the Center for Global Business has been supporting the Global Development Initiative (GDI) at UT Dallas for years, and aspired to bring many eco-partners to UT Dallas. The symposium was a successful culmination of his dedication and efforts to help organize an international ecosystem at UT Dallas.
The symposium wrapped up with a networking session for attendees.
