An important part of NAIOP’s mission is to promote overall economic development, which in turn supports the Commonwealth and its business community.  As such, I am honored to represent the members of NAIOP by joining Governor Deval Patrick, along with a coalition of state officials and business leaders, on next week’s Massachusetts Innovation Economy Partnership Mission to Israel. The coalition will explore growth opportunities within the Commonwealth’s innovation-based industries – technology, life sciences, clean energy and financial services – and areas of common interest between the state’s established and emerging partners in Israel.  The coalition will then continue on to the UK.

During the trip, I will join Governor Patrick and members of the delegation in roundtables, company visits, and meetings with government and business officials in Tel Aviv, Haifa, and Jerusalem.  I believe the mission is an important opportunity for the Commonwealth to explore new growth opportunities and business relationships in the global market, which could lead to increased real estate investment and development throughout the state

There are nearly 100 companies with Israeli founders or Israeli-licensed technologies in Massachusetts today.  In 2009, these companies employed nearly 6,000 people and generated $2.4 billion in direct revenue for the state. Local firms exported over $180 million worth of goods to Israel in 2009 and, at 12.35 percent, the United States is Israel’s largest source of imports.

I plan to blog from Israel and provide regular updates about what we learn. When I return, I and other participants from this trip and last fall’s City to City trip will present a program on The Boston-Israel Connection, presenting our findings and exploring the possibilities for growth that will benefit our industry.