by Mike Sharkey
Staff Writer
This year’s Jacksonville Regional Chamber of Commerce’s Leadership trip is a three-pronged attempt to educate Jacksonville business and civic leaders on the importance of not just thinking globally, but how to adapt to a business world that is literally changing by the moment.
“Leadership Experience: Open Minds Open Markets” — the first leg of the trip — was Wednesday at the Osborn Center. The day long seminar, that focused on how Jacksonville area businesses can not just enter, but become mainstays in the global economy, featured a slate of speakers and a lunchtime break with Gov. Charlie Crist and Mayor John Peyton that doubled as the Chamber’s Third Quarterly Cornerstone luncheon.
The seminar began with a six-minute presentation that came with what could be considered ominous facts and figures concerning the current international atmosphere as opposed to what is going on in the United States. According to the introduction, there are more honor students in China and India than there are children in the U.S. Also, within a few years computers will think faster than humans and technology will actually alter itself within a second.
“The world is changing more rapidly than ever before,” said Ron Autrey, Chamber chair-elect and president of Miller Electric Company. “It’s time for the Chamber and Jacksonville to look beyond. Whether we realize it or not, Jacksonville is affected by globalization every day.”
Over 300 local business owners and executives attended the seminar aimed at showing what Jacksonville is already doing globally and how that presence can be increased.
“What people are getting into is a look at the world and what we have evolved into in international business,” said Jerry Mallot, executive vice president of Cornerstone, the economic development arm of the Chamber. “They will learn what that means to us in the Jacksonville area and how to more effectively take advantage of the changes in world business.
“We hope every company here begins to examine their international business strategy or how they are impacted by others and take advantage of that the best way they can.”
One of the speakers was Sean Snaith, an economist from the University of Central Florida. His entertaining, yet informative, presentation touched on several areas. According to Snaith, over 50 percent of U.S. Treasury Bills are now owned by foreign countries, led by China and Japan.
“Why are they buying our debt? Out of self-interest,” said Snaith. “It’s a way to manage the exchange rates. That market is important to the Chinese economy.”
Snaith also said the perceived “housing bubble” is a virtual replay of the dot.com boom that engulfed the 1990s.
“The dot.com fiasco is being played out in mcmansions and condos,” he said, adding the price of housing skyrocketed in recent years because of heavy investment buying and many who were simply willing to overpay for a home.
Locally, Snaith likes the economy he sees. Unemployment is low and the port is strong, something that will bode well in the future. The Mitsui OSK terminal at the Jacksonville Port Authority will improve trade with the Far East, but Snaith said the expansion of the Panama Canal will allow Chinese manufacturers to bypass clogged West Coast ports and ship directly to ports on the East Coast, especially Jacksonville.
During lunch, both Peyton and Crist touched on the need for Jacksonville to operate on a global basis. Peyton challenged the business leaders in attendance to grab their seat at the international trade table.
“We’re in good position,” said Peyton. “We have the most enviable form of government, we have great people and we have a business community that has successfully focused on economic growth and development.”
Peyton cited the Port and Cecil Commerce Center as invaluable commodities.
Crist said Florida is going through a down cycle, as is the rest of the country, but due to several factors the state will recover quickly as will Jacksonville.
“I’m an optimist. I believe Florida’s best days are head of us,” said Crist. “Jacksonville is on fire, it’s doing great and its economy is strong. Florida has the lowest unemployment rate of the 10 largest states.”
The final two legs of the Leadership Trip consist of a trip to Charleston Oct. 10-12 and China, March 7-16 of next year in which the Jacksonville contingent will visit Beijing, Shanghai and Hong Kong. Mallot said the recent issues China is facing over recalled toys was talked about.
“I think we all had a level of discomfort,” he said, adding the trip to China is still on primarily because is the largest manufacturer of goods in the world.