Latin America plays an important role in retailer Gap’s global sourcing strategy and has the opportunity to expand due, in part, to its proximity to the U.S. market. With stores located all over the world, “a global sourcing strategy is essential,” Mark D’Sa, a Gap Senior Director of Sourcing and Production, told participants at WorldCity’s Trade Connections event in Miami Dec. 16. He was joined on the panel by Jonathan Bales, representing Hellmann Worldwide Logistics, who oversees the German logistics company’s cruise industry business, and WorldCity President Ken Roberts. Trade… Read More
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Brazilian gunmaker to stay in Miami, despite Georgia's efforts
Taurus International, a Brazilian manufacturer of handguns and rifles, will keep its U.S. headquarters in Miami-Dade County with a promise to expand here, ending its flirtation with moving to Georgia by accepting local and state tax incentives.
Taurus, which began as a small tool manufacturer in Porto Alegre, Brazil more than 60 years ago, produced its first revolver in 1941 and entered the U.S. market through distributors in the late 1960s and with an office in Miami in 1982.
Today, it employs 135 people at its offices in Miami Gardens, and has committed to adding another 123 new fulltime jobs in the next three years as part of the agreement between the company and Miami-Dade County, the Beacon Council and Enterprise Florida.
The Beacon Council is the county’s economic development organization and Enterprise Florida is the state’s.
In addition, the company will expand its 59,500 square foot facility by 26,500 square feet and purchase new equipment, a $7.8 million capital investment, according to a Beacon Council press release.
“Timely and meaningful assistance from The Beacon Council has provided the necessary means to allow us to stay here,” said Bob Morrison, the president and CEO of Taurus International.
Beacon Council’s Frank Nero
“This is good news for Miami-Dade County at a time when job creation is our number one priority,” said Frank Nero, Beacon Council president. Miami-Dade County’s unemployment rate is above both the state and national average, which is unusual for the county.
Miami is an important market for handguns, from the trade perspective.
More revolvers and pistols are being been imported through Miami International Airport than any airport or seaport in the nation, according to WorldCity analysis of the latest trade data.
Through July, MIA accounted for $55.3 million of the $283.4 million imported into the United States. Almost all of those handguns arrive at MIA on flights from Brazil, where Taurus is based. Imports to MIA are up almost 50 percent this year.
U.S. imports have grown more than 56 percent from a similar period last year at a time when overall U.S. trade has plummeted almost 30 percent nationwide.
Overall, Austria is the leading handgun importer into the United States, its popular Glock used by many law enforcement agencies. Its U.S. headquarters and manufacturing location is in suburban Atlanta, Georgia, which was attempting to lure Taurus.
The United States exports about half as many handguns as it imports. MIA ranks third in exports of handguns, with New York’s JFK accounting for about one-third of all such exports through the first seven months of the year. The value of exports is $26.7 million, with MIA accounting for $2.2 million of the total. Most of Miami exports are shipped to Costa Rica.
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Gap, Hellmann detail operations at final Trade Connections event of 2009
December 29th, 2009
