Guest blog post by Richard Brent, CEO of Louroe Electronics
I remember getting the call from U.S. Department of Commerce extending an invite to my company, Louroe Electronics, to accompany Commerce Secretary Penny Pritzker on her first-ever trade mission to Mexico. I was truly humbled and enthusiastic about this unique opportunity.
I’ve served as the CEO of Van Nuys-based Louroe Electronics, the world leader in audio monitoring technology, for more than 5 years now and was thrilled to receive the call. I was beyond excited to learn that Louroe was handpicked by the Department of Commerce - the only Southern California and sole security company- along with 16 other export-ready companies, to be a part of The Secretary’s historic trade mission. The mission specifically focused on promoting U.S. exports in key industry sectors including advanced manufacturing, information and communications technology, and security products.
From February 3-7, I personally traveled with Secretary Pritzker to Mexico City and Monterrey alongside other leading companies including: IBM Corporation, Motorola Solutions, Inc., Oracle Corporation, LexisNexis Risk Solutions, and Deloitte Consulting LLP. Our mutual goal was to promote U.S exports. This trade mission helped facilitate introductions to key government and private sector decision makers in Mexico who shared with us key initiatives and how US companies can assist with development and growth.
As a result of my participation in the trade mission, I was able to successfully identify five new pilot projects for Louroe that will focus on improving public safety throughout Mexico City and Monterrey. This is great news not only for Louroe but also for the Los Angeles economy as the pilot programs will require us to increase our current staffing by approximately 10 percent, ultimately creating more jobs.
Moreover, I gained an understanding of the many facets of the Mexican marketplace. For us, Mexico is an important market for security and public safety. In fact, Louroe has been investing in the market for the past three years and is now being called upon directly to assist with large-scale commercial and public safety projects.
As the United States’ second-largest export market and third-largest trading partner, Mexico is a key player for the U.S. economy. In fact, more than $1.25 billion in goods and services are traded between the U.S. and Mexico every day, supporting millions of jobs in both countries. In addition, bilateral trade between the U.S. and Mexico was almost half a trillion dollars in 2012, and the U.S. exports more to Mexico than to all of Brazil, Russia, India and China combined.
Recognizing that Mexico is a close neighbor of Southern California, I was eager to attend this trade mission to help Louroe expand our already strong presence in this vital market. Receiving this invite was a milestone for our company. We are confident that we will continue to make great strides towards providing the best in-market value audio technology into Mexico as a result of this trip.
Earlier this year, I was in attendance at The Los Angeles World Affairs Council when Secretary Pritzker commented in her address to the crowd, “We need more companies like Louroe Electronics.” I was proud then and even more so now that I was able to spend a week with her and her staff and see all that they accomplish as public servants on behalf of the private sector. It is truly amazing to see how far we have come over the last 35 years and we look forward to expanding our business and bringing more jobs and income to Los Angeles residents.