OCO Global, a Belfast-based advisory firm, has been awarded a significant $12 million contract by New York State's Empire State Development (ESD) on November 11, 2024. This five-year contract is aimed at enhancing global trade and investment opportunities for New York, which boasts the third largest economy in the U.S. with a GDP exceeding $2 trillion. OCO Global has been active in New York since 2008 and has facilitated nearly $1 billion in investment projects since 2021, illustrating its strong commitment to economic development in the region.
The contract comes at a time when New York is experiencing substantial investments in the semiconductor sector, particularly from companies like Micron and GlobalFoundries. Notably, Western Europe accounts for 70% of the investment projects in New York, highlighting the importance of international partnerships in driving economic growth. OCO Global's CEO, Gareth Hagan, and ESD Commissioner Hope Knight expressed optimism about the potential of this contract to foster further investment and trade initiatives, particularly in clean energy and technology sectors. This development aligns with the state's ongoing efforts to position itself as a leader in global trade and investment, further enhancing its economic landscape. [e885324e]