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Economic development is a relationship business. Executives from around the world do business with people and in places that they know and trust. Building these relationships is a long-term strategy, and it’s one that I feel confident will pay dividends.
This week, the Arkansas team had the opportunity to travel to Japan during a two-part Asian trade mission to grow new relationships in the country and renew existing ones. These relationships are critical as we compete for economic development projects that will bring new investment to the Natural State and create good-paying jobs for Arkansans.
In 1985, the State of Arkansas opened an office in Japan. For nearly 40 years, our economic development efforts have included an initiative to build relationships with Japanese companies and government officials to increase trade and investment.
These efforts have paid off. There are 50 Japanese companies operating in Arkansas in industries ranging from steel to food and beverage. Japan is our third-biggest trade partner; in 2022, Arkansas exported more than $393 million in goods to Japan – accounting for over 6 percent of our state’s total exports.
We want to do business with Japan because Japanese companies are innovative. They contribute significantly to the economy of the United States and our economy in Arkansas. Companies like Tokusen, Kagome, Hino and others employ over 5,000 Arkansans. Japan is a close friend of Arkansas, and it was an honor to represent our state as we worked to strengthen this friendship.
Our team, led by Governor Sanders, met with the U.S. Embassy in Tokyo, with business associations like JETRO and the Keidanren, and with companies that have a presence in Arkansas and with companies that we are working to recruit to Arkansas.
My friend and colleague, Neal Jansen, director of AEDC’s Asia Office, has lived in Japan for 18 years. He’s a great asset to our state, and he did a great job leading the trade mission for us. It was no surprise that Neal’s relationships in Japan would be helpful and that Japanese executives are impressed that he speaks Japanese fluently. It was a bit of a surprise how well Neal rocked the mic in the karaoke room the last night of the trip… a pleasant surprise.
As I reflect on our time in Tokyo, the second of our trip to Asia, I think about how similar we are despite such significant differences. Like Arkansans, Japanese people are kind and hospitable. A smile typically gets reciprocated with a smile. Those that we met with seemed very sincere, and I look forward to building on the friendships that were started this week.
Arkansas will continue to place a priority on our relationships in Japan. We have a lot to learn from them, and I believe the opportunities for mutually beneficial collaboration are significant.
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