TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Israelis plan to strengthen business ties to Western Pa.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

Daily Photo Galleries

Wednesday, May 21, 2014, 10:54 p.m.
 

Pittsburgh's business connections to Israel may not be readily apparent, but Israeli officials and leaders of the city's Jewish community say they are many.

They hope the ties will multiply.

Elad Strohmayer, Israeli deputy general counsel for the Mid-Atlantic region, told the Tribune Review on Wednesday that opportunities for partnerships may arise this year with the pending approval of a $10 million Israeli-Pennsylvania research and development fund meant to underwrite projects approaching commercialization.

“I think Pittsburgh has a lot of potential for strong economic relations with Israel,” Strohmayer said.

He compared Western Pennsylvania's innovation-oriented economy to Israel's national spirit.

“(Israel) is a start-up nation. Our strength is in human resources, human capital,” he said.

Trade between the United States and Israel trade took off nearly 30 years ago with the ratification of the U.S.-Israel Free Trade Agreement, the first such agreement reached by the United States.

Greg Roman, community relations council director for the Jewish Federation of Greater Pittsburgh, noted that Pennsylvania has a trade representative in Israel whose job is to find business opportunities for Pennsylvania companies to expand their market in Israel, and for Israeli companies to come here.

Roman said Israel often looks to areas such as Pittsburgh for manufacturing facilities.

“We are 8 million people, and we need to grow and expand. What better place than here in the U.S.,” Strohmayer said.

Strohmayer said those international connections are evident in the Philadelphia region, where Israeli pharmaceutical giant TEVA has its headquarters and employs about 1,700 people.

Closer to home, Ness Techologies in Canonsburg, has roots in Israel; dbMotion, a project of UPMC and Israeli researchers to develop medical software, was acquired by a Chicago company last year for $235 million.

According to the state Department of Community and Economic Development, exports to Israel from Pennsylvania companies totaled $275.5 million in 2013, an increase of 22.6 percent from 2012.

“We've seen a lot of interest in Pennsylvania companies trading with Israel, and we have quite a lot of investment from Israel here,” said Wilfred Muskens, deputy secretary of the state Department of Community and Economic Development.

David Patti, CEO of the Pennsylvania Business Council, said it's not surprising that Israeli officials would consider the Pittsburgh region a prime place for investment and trade partnerships.

“Pennsylvania, and Pittsburgh in particular, is very well-liked by other nations. They like the work ethic, they like the quality, and they like the price,” Patti said.

Debra Erdley is a Trib Total Media staff writer. Reach her at 412-320-7996 or derdley@tribweb.com.

 

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Hedge funds sue to block EDMC deal
  2. How to avoid Amazon and still get deals
  3. Radiation detection of drilling waste nearly set at W.Va. landfills
  4. Roundup: WesBanco to acquire ESB Financial for $324M; PNC to replace credit cards used during Home Depot breach; more
  5. Mylan’s 3Q profit triples on strong U.S. sales
  6. Strengthening U.S. growth reflects help from Federal Reserve
  7. CCAC, Energy Innovation Center respond to energy industry’s growing demand
  8. Bayer profit edges higher, raises forecasts
  9. Sweet tooth will cost you more next year
  10. Profit falls at vitamin retailer GNC Holdings in third quarter
  11. Highmark’s new REMWorks Sleep Store will sell sleep apnea equipment
Subscribe today! Click here for our subscription offers.