“Every year a larger and larger percentage of our business is coming from the international export market” Doug Mancosky, HDI VP of R&D
Atlanta, GA (PRWEB) March 10, 2015
Gov. Nathan Deal recognized Hydro Dynamics, Inc. (HDI), headquartered in Rome, GA, with a GLOBE (Georgia Launching Opportunities By Exporting) Award for entering one or more new international markets in 2014. Hydro Dynamics was recognized for its entry into markets of Argentina and China last year.
“International trade is a vital component of economic development for small businesses in Georgia,” said Gov. Deal. “In fact in the last year, 88 percent of companies that utilized Georgia’s international trade services had fewer than 100 employees. The GLOBE Awards give us an opportunity to recognize our state’s small businesses that have entered into a new market in the past year. This year’s award winners represent the high-caliber, highly competitive companies that operate in Georgia, and I congratulate each of them on receiving this great honor.”
The GLOBE Awards were established by the Georgia Department of Economic Development (GDEcD) in 2014 for the purpose of highlighting companies that have contributed to Georgia’s economic development and global presence by exporting to a new international market.
International markets are increasing in importance for HDI. “Every year a larger and larger percentage of our business is coming from the international export market,” said Doug Mancosky, the company’s Vice President for Research and Development. “Four or five years ago I’d say that number would have been virtually zero, or just an occasional unit, where now it’s a significant portion.”
GLOBE Award recipients were recognized at the second annual Go Global reception on March 2, 2015 at the Georgia Tech Hotel and Conference Center, an annual networking event for the state’s international representatives. The state has international representation in 11 strategic markets, including Brazil, Canada, China, Chile, Colombia, Europe, Israel, Japan, Korea, Mexico and the United Kingdom and Ireland.
This year’s 44 GLOBE Award winners represented 17 Georgia counties and collectively expanded into 104 different countries and territories. Approximately 90 percent of this year’s winners have 100 or less employees, while 73 percent have 50 or less employees. Among the winners, the most popular new markets were the United Kingdom, Australia, Saudi Arabia, South Korea, United Arab Emirates and Colombia. These companies entered an average number of more than six new markets in 2014. The company with the largest number of new markets expanded into 37 countries and territories last year.
“These awards highlight the importance of exporting for small and medium sized companies across our state. Last year, 88% of companies that utilized Georgia’s International Trade services to grow sales in international markets had fewer than 100 employees. Trade remains an important component of economic development in Georgia,” said Mary Waters, GDEcD Deputy Commissioner of International Trade.
Recently released trade statistics for 2014 showed Georgia celebrated a 5th consecutive year of export growth, with a record $39.4 billion in exports.
About Hydro Dynamics, Inc.
Hydro Dynamics, Inc. is located in Rome, Georgia and is the developer and manufacturer of the cavitation based ShockWave Power Reactor (SPR). The SPR equipment uses the physical phenomenon of cavitation, normally known as destructive force, and harnesses it to solve critical industrial mixing, extraction and heating problems. The technology The SPR can now be found on four continents in applications ranging from biodiesel production to hops extraction for beer.
About the Georgia Department of Economic Development
The Georgia Department of Economic Development (GDEcD) plans, manages and mobilizes state resources to attract new business investment to Georgia, drive the expansion of existing industry and small business, locate new markets for Georgia products, inspire tourists to visit Georgia and promote the state as a top destination for arts events and film, music and digital entertainment projects.