Changes in U.S. immigration could be good news for Vancouver Tech

For decades U.S. companies have sought out and successfully recruited talented foreigners to work for their American based businesses in a specialized, specific capacity. Classified under H-1B visa immigration status, “which helps employers hire foreign-born workers for high-skilled, high-paid jobs,” said Seattle immigration attorney Tahmina Watson, she’s seeing a ‘seismic shift’ in visa approvals, reports Geekwire in its December 2017 article.

Seattle corporate immigration attorney, Lola Zakharova says, ‘the spike in H-1B rejections’ is related to President Trump’s executive order titled, “Buy American, Hire American” which reportedly tasks the Departments of Labor, Justice, Homeland Security and State “to suggest policies to reduce fraud and abuse of the H-1B visa,” reports Geekwire.

These changes could be a further boon for tech development in Vancouver, already underway with the “Innovation Corridor” initiative started in 2016, says Jim Pettinger, President of UCanTrade, Inc.

Vancouver, BC

Vancouver, B.C. (photo credit: Josiah Coates)

As reported by the New York Times in their October 2016 article, “Next Big Tech Corridor? Between Seattle and Vancouver, Planners Hope” , Microsoft president, Brad Smith said, ‘[Canada’s] more open immigration policies [were] an important factor’ in its reported $120 million investment in new Vancouver offices back in June 2016. Microsoft was reportedly aiming to hire more than 750 people in the city.

Microsoft’s commitment to the Cascadia Innovation Corridor appears to have ‘deepened’ as it has reportedly backed a Seattle-Vancouver high speed rail study which was announced at the second Cascadia Innovation Corridor conference, held in Seattle this past September. “By linking our two cities together through cross-border collaboration, research, funding and educational opportunities,” said Smith, “we will spur new economic activity and opportunity that creates a better future for everyone.”

TradeTips blog is published by UCanTrade, Inc., your cross-border experts since 1984.

Subscribe to our TradeTips Newsletter for the latest import/export events and trade news, and/or call us at (360) 380-6900.

UCanTrade
Website: www.UCanTrade.com
Phone: 360-380-6900
Email: info@UCanTrade.com
Twitter: @UCanTrade

The Loonie – A Hindrance or An Opportunity?

Whether it was to catch a cheaper flight from Bellingham to Las Vegas or to shop at an I-5 outlet mall, since 2013 many British Columbians were flocking to the nearest lower-mainland border crossing and travelling to the states in search of a good deal.

Canadian dollar the loonieHowever, a weakened Loonie curbed many Canadian shoppers who’d been making the trip south of the border to stay home. Indeed throughout Washington State’s Whatcom County, retailers in border towns like Sumas, Blaine, Lynden and further south to Ferndale and Bellingham have seen dramatic drops in Canadian shoppers since 2013 (BPRI Winter 2017 Brief: Changes in Canadian Shopping Visits in Northwest Washington, 2013 to 2016).

Interestingly though the loonie has rallied in value to a little over 80 cents to the American dollar. Will we see a surge in cross-border activity again here in Whatcom County? We hope so! However, even in light of recent news, there’s more to the ‘cross-border currency’ story than shopping. Like SELLING! CADUSD20yrs

Historically the USD has dominated over the Loonie as reflected in this 20 year chart. (Source)

A paradigm shift. Can Canadians consider the exchange rate between the Canadian Dollar (CAD) – USA Dollar (USD) not as a hindrance, but rather as an opportunity? They should! Here’s why.

Assuming all the proverbial ducks are in a row, ‘I’s dotted and ‘T’s crossed, the savvy B.C. business owner and entrepreneur stands to earn at least 20% more on their U.S. sales in part due to the favorable exchange rate.

“Here are the simple facts” says UCanTrade, Inc. president and dual citizen, Jim Pettinger: “(1) most U.S. land border crossings have been upgraded and are fully open for Canadian goods and people, (2) each sale you make for US$100 nets you C$120 or more, (3) your business presence in the U.S. can lead to a green card and dual-citizen status if you wish , and (4) American buyers (a) love Canadian goods, (b) have double the available money of their Canadian counterparts and (c) make their buying decisions at least  three times as fast.”

If history is an indicator then a long-term outlook is for a weak Loonie. Canadian companies need to immediately seize the opportunity to stake a position in the lucrative U.S. market. With careful planning, the initial cost can be minimal, but the payoff could be enormous.

Interested in learning more about doing business in the USA? Attend our next DBUSA Seminar &/or download this whitepaper “Ten Tips for Better Border Business”.

TradeTips blog is published by UCanTrade, Inc., your cross-border experts since 1984.

Subscribe to our TradeTips Newsletter for the latest import/export events and trade news, and/or call us at (360) 380-6900.

UCanTrade
Website: www.UCanTrade.com
Phone: 360-380-6900
Email: info@UCanTrade.com
Twitter: @UCanTrade

Another reason to expand/relocate your business to the USA?

By: Jim Pettinger, President of UCanTrade, Inc.

According to a recent article in Business in Vancouver, a minority government in BC could be the “Worst fear for BC Business”. Besides creating more uncertainty, they indicate that the “Future of some major resource and infrastructure projects would be in doubt under a government dependent on co-operation of opposition parties.”

If they hadn’t already made plans based on the continuing weak loonie and increasingly strong U.S. economy, savvy BC business entrepreneurs will view this additional news as a strong signal to seek business and marketing opportunities in the USA. And, for those worried that the new president will close the border, our advice is GET OVER IT! While some trading relationships will obviously be reviewed, U.S. businesses and consumers will continue to consume foreign goods and services in even greater volume. Start planning right now to earn your fair share of the predicted extra-heavy fall and holiday buying season.

TradeTips blog is published by UCanTrade, Inc., your cross-border experts since 1984.

Subscribe to our TradeTips Newsletter for the latest import/export events and trade news, and/or call us at (360) 380-6900.

UCanTrade
Website: www.UCanTrade.com
Phone: 360-380-6900
Email: info@UCanTrade.com
Twitter: @UCanTrade

 

Doing Business in the USA – Seminar

Canadian companies, start-ups and entrepreneurs who attend this ‘fast-paced’ seminar will learn from cross-border experts how to ‘determine an export strategy’ and ‘understand their responsibilities’ to U.S. government agencies like U.S. Customs and Border Protection and Immigration.

Professional veteran cross-border immigration and business lawyers, accountants, customs brokers and logistics providers will guide attendees through the steps of exporting into the U.S.A., as well as be on hand to answer questions and offer consultation.

Date: Thursday, April 27, 2017
Time: 8:00 am – 12:00 pm Pacific Time
Place: Hyatt Vancouver, 655 Burrard St, Vancouver, BC V6C 2R7
Fee: $75.00 CAD plus GST (per attendee)

Questions?  Contact us at (360) 380-6900 for more information or,

CLICK FOR EVENT INFO / TO REGISTER

The Doing Business in the USA seminar is presented by:

dbusa
TradeTips blog is published by UCanTrade, Inc., your cross-border experts since 1983.

Subscribe to our TradeTips Newsletter for the latest import/export events and trade news, and/or call us at (360) 380-6900.

UCanTrade
Website: www.UCanTrade.com
Phone: 360-380-6900
Email: info@UCanTrade.com
Twitter: @UCanTrade

Top 10 Insights from 2016

By: Jim Pettinger, President of UCanTrade, Inc.

In recent years, we have been impressed with the output of Steve Mossop and his team at Insights West, a relatively new market research company that is focused primarily on the West. Every year, they publish approximately 50 public press releases on topics as diverse as municipal and provincial elections, bridge tolls, bike lanes, charitable giving, gas-fracking, road safety, housing affordability, employee satisfaction, social media trends, and many other topics. For a sampling, check out their annual list of “Top 10 Insights” from 2016. I recommend signing up for their newsletter at the bottom of their home page.