By Lavern Clarke, Staff ReporterPUSHED ENTHUSIASTICALLY by the private business associations and Jam-pro, a trade and investment mission departs for Atlanta in another month to seek out new markets in a city which is one of the fastest growing in the United States.
More than 30 companies have expressed interest in the mission to date, its organisers said at a briefing Wednesday, covering the tourism, entertainment and financial sectors.
The latter grouping is hoping to tap into the estimated 150,000 Atlantans with Caribbean ties, to explore opportunities for banking, remittance, mortgage-related and other services.
Dubbed 'Target Atlanta', the trade jaunt is a collaborative effort of the Private Sector Organisation of Jamaica, Jamaica Exporters Association, Jamaica Manufacturers Association, and the state investment agency Jampro.
Trade missions are not new for Jamaica, but they are often criticised for failing to generate any significant volume of business. But, according to organisers of the October 14-18 event, this one is likely to be different, basing their optimism on the broad-based involvement of the trade associations and private support in setting it up.
Some of that private support is coming from Jamaica Public Service Company, which is 80 per cent owned by an Atlanta-based company, Mirant Corporation.
JPSCo will not be a participant in the mission, but has given the services of one of its consultants, Mark Tower, plus other support to Jampro at a cost that amounts to about US$5,000 per month, the electricity company's chief executive Charles Matthews told the Financial Gleaner.
Tower, speaking at a briefing on Target Atlanta, advised participating companies that the business they generate would largely rest on whether they took the time before October 14 to target specific companies and develop their sales and market pitches around the information in which their targets are interested.
Such pre-mission contacts are made through the JPSCo consultant, who has responsibility for 'matchmaking', that is, ensuring that the right Jamaican sellers get to talk to the right Atlantan buyers/investors.
A Jampro/PSOJ statement said, research shows that Atlantans are now spending heavily in food, ap-parel, health care and entertainment, and that matchmaking possibilities were likely in high tech manufacturing, biotech, logistics, and computer software and services areas on which the Atlanta Chamber of Commerce was currently focusing.
They also see market opportunity in the "young population of over four million with high disposable in-comes" of about US$58,000 per annum; and the '40 companies per annum' rate at which new international businesses enter the Atlanta market.
The city already has strong ties with the island as the twin to Montego Bay. The Jamaican delegation also hopes to use the Kingston transshipment port, the expanding Sangster International and the Air Jamaica Hub operations in Montego Bay as selling points.
Victoria Mutual Building Society is also on board as a 'silver sponsor' of the mission, with a US$5,000 donation, and has three staff members signed up to participate. Air Jamaica, though not an official sponsor, will fly the group at concessionary rates, now budgeted at US$350 per person.
The charge for participation as budgeted now stands at US$2,265 per person/company - a fee that covers airfare, accommodation, meals and booth space rental. A registration fee of US$250 is payable by October 3.
Minister of Industry and Tourism, Aloun N'dombet Assamba, will lead the mission. The event also has the support of Atlanta Mayor, Shirley Franklin who recently ended a visit here.
