Release date: 11/28/2017
After attracting more than 80 Canadian businesses to region, organization provides guide for companies considering expansion
BUFFALO, NY – Invest Buffalo Niagara (InBN)—the nonprofit, privately-funded economic development organization representing the eight counties of Western New York—unveiled a 52-page guide for Canadian businesses considering U.S. expansion. The Guide to Canadian Business Expansion in the U.S. http://info.buffaloniagara.org/expandtotheus is a compilation of resource that focus on critical issues such as legal, accounting, banking and human resources that companies need to consider to establish successful operations in the U.S.
“There are countless advantages for a Canadian business to expand into the United States: a new market share, lowered cost, a ‘Made in the USA’ label, reduced border costs, and highly-developed infrastructure, among others,” said Carolyn Powell, Canadian-American business development manager, InBN. “The process can also be complex. That’s where Invest Buffalo Niagara comes in. Our goal is to ensure that Buffalo Niagara is at the top of the list for Canadian companies considering international business expansion, and that the process is as easy as possible – from research to ribbon cutting.”
The guide answers pertinent questions for Canadian business leaders considering international expansion, including:
· What are state and federal tax requirements?
· What do we need to know about employee recruitment and benefits?
· How should the new company be incorporated?
· What incentives are available?
· How do you transfer Canadian workers to this new facility?
· Are paid holidays mandatory for employees in the U.S.?
The Guide to Canadian Business Expansion in the U.S. is an anthology of cross border expertise from InBN partners throughout the community.
Since 2005, Invest Buffalo Niagara has helped more than 80 Canadian businesses expand in the U.S., with a combined capital investment totaling $589,345,839, as well as 2,244 pledged jobs. InBN’s services are free of charge. The guide also describes a number of successful U.S. expansions completed by Canadian companies:
· Pride Pak’s selection of Western New York for its first U.S. packaging operation
· Welded Tube USA’s expansion in the region in pursuit of a ‘Made in the USA’ label
· Lynch Fluid Controls’ addition of warehousing and distribution space through U.S. expansion
· Redland Food Corporation (a division of Trophy Foods) opening a facility in Cheektowaga, New York
Buffalo Niagara’s strategic location on the Canadian-American border is within 500 miles of 40 percent of the bi-national population. As a cross border gateway for commerce, Buffalo Niagara facilitates $85 billion in annual trade between Canada and the United States – nearly 15 percent of the total trade conducted between the world’s two largest trading partners. Expansion of a Canadian business into the U.S. market provides multiple advantages, including:
· Ease of travel proximity between Canadian and U.S. locations
· Reduced bridge shipment/transit delays and costs
· Improved competitive position with U.S. companies
· Sharing of staff and resources between Canadian and U.S. facilities
A full list of Canadian businesses that Invest Buffalo Niagara has helped to expand to Western New York since 2005 is available here. Learn more about Invest Buffalo Niagara’s many services for Canadian companies here.
Guide to Canadian Business Expansion to the U.S.
Download the complete guide http://info.buffaloniagara.org/expandtotheus
· 10-Hour Drive Map
· Expanding into the U.S. Checklist
· Steps to Incorporating a Business in New York State
· Immigration Considerations
· Comparison Chart: L-1 Intra-Company Transferee and E-2 Treaty Investor
· Comparison Chart: NAFTA Visas
· Your iPhone at the U.S. border
· Importing Goods into the U.S.
· Don’t be Left Out: Get that NEXUS Card
· Made in the USA? Better make sure.
· Business Asset Purchase in the U.S.
Accounting and Tax
· Record Retention Timeline for Businesses
· New York Tax Reform Benefits Manufacturers
· State Taxes – Are You in Compliance?
· Banking Services in the United States
· The Rise of International Payment Fraud
· Safeguarding Your Accounts
· Cross Border Card Programs
· Collecting Receivables in the U.S.
· Real Estate Market in Buffalo Niagara
· Checklist for Canadian Purchasers of Commercial Property
· HR Considerations When Entering the U.S.
· Independent Contractor or Employee? Why Getting It Right Matters
· Payroll Costs
ABOUT INVEST BUFFALO NIAGARA
Invest Buffalo Niagara is the area’s leading private sector economic development and business attraction organization, focused on research, marketing, and business development outreach. With exceptional community connectivity, Invest Buffalo Niagara’s staff provides comprehensive services and project management for companies looking to expand or relocate. From research all the way through ribbon-cutting, Invest Buffalo Niagara is the primary point of contact for economic development in the eight-county Buffalo Niagara region. Learn more: buffaloniagara.org.