ince its inception in 1987, World Trade Center Anchorage has been known by both its original name—World Trade Center Alaska—and by the Anchorage moniker that it was required to adopt a decade ago. This year marks one more name change for the organization that it hopes will better represent the breadth of services it provides to Alaska and beyond as the Alaska International Business Center (akIBC).

“Every year, we take a look at whether the World Trade Center (WTC) brand is serving us as well as it could—sort of a cost/benefit analysis—and this year, for multiple reasons, we felt that it was time to rebrand to help us grow from our existing base,” explains akIBC President and CEO Greg Wolf.

“When we talked to prospective businesses, we found that they often believed that the WTC brand was only for import/export businesses, and if they didn’t provide those services, it held them back from joining,” he says. “While we do offer import/export advice, in recent years we’ve added a much broader range of services.”

When the parent WTC organization required the Alaska branch to change its name from WTC Alaska to WTC Anchorage ten years ago, Wolf felt that it hampered the group’s efforts to attract members statewide. “Public perception is that we’re just an Anchorage group, and that sometimes doesn’t play well in the rest of the state,” he says.

For this and a number of other reasons, the organization publicly announced the name change on November 17, 2023, a change that Wolf says was well-received.

“Our members stuck with us universally, and we’ve had great support from the business community and others,” he says. “The day we announced it, I received twenty emails saying ‘Congratulations,’ ‘Great move,’ ‘We support you,’ ‘We want to help you grow,’ and more.”

According to Paul Johnson, who has been a member of the center since 2008, the rebranding better reflects what akIBC does. “Branding is important, and the new name reflects that the akIBC is an independent organization focused on Alaska,” he says. Johnson owns Highliner Consulting Group, which provides strategic and business planning services, knowledge management, and business valuations.

“The previous name was starting to limit our ability to grow, and the new brand more accurately reflects the variety of information and services we provide,” adds Wolf.

With the name change, akIBC’s goal is to let more people—in Alaska and across the world—know about the breadth of services it provides.

While akIBC continues to offer import/export trade services to help Alaskans find markets for the products they sell, it is only one of the services they offer. “Exports are very important to the Alaska economy, as many Alaska companies are involved in exporting products, including natural resources and professional/technical services,” says Wolf, noting that the $6 billion a year export market is quite strong for a state of Alaska’s size, ranking it number three or number four in the country on a per capita basis.

In addition to providing Alaska companies with market research and market entry services—such as how to enter the Japanese or Korean markets, for example—akIBC also helps companies abroad that seek to invest in Alaska projects. “There are many companies around the world that invest around the world—and that could include Alaska if these investors were aware of our projects and what the need is,” says Wolf. “Oftentimes, Alaska businesses are looking for capital, and there are many sources of foreign capital available if we are able to put entities together through cross-border investment facilitation.”

The akIBC also offers strategies for companies looking to take advantage of foreign trade zones (FTZs) located in Anchorage, Fairbanks, and Kodiak. “These FTZs are important globally as part of international trade,” says Wolf. “We teach people where they are and how to use them to their advantage.”

As more Alaskans move into manufacturing, the need for this area of expertise has grown, says Wolf, noting that he has watched this sector grow over the past thirty years. “When I first started my career, there weren’t many people manufacturing products in Alaska; now there’s a high-quality, cutting-edge technological market here. Whether big or small, tech or not, these businesses require materials, parts, packaging, and more.”

In addition to finding outlets for sales downstream of the manufacturer, akIBC can assist with upstream supplies. “Through global sourcing, we can scour the world to find the items these companies need,” Wolf says. “For example, a lot of equipment can be sourced overseas for a lower price than companies would pay in the US.”

Wolf gives the example of a distiller that needed to find a less expensive source for bottles. The akIBC was able to help the company source bottles from another country, resulting in 50 percent savings.

“This is not an anti-American stance, but if a company needs a lower price point to sell more and expand their business in Alaska, they need to have a low competitive price,” explains Wolf. “Anything we can do to help nascent manufacturing companies to reach lower price points and expand production so that their cost per unit is less helps support Alaska jobs and diversification.”

The akIBC is also working on a new initiative to put Alaska’s technological prowess on the map. Wolf says numerous companies in the state do business all over the world, yet they are little known within the state. He gives the example of one 3D imaging company that has been in business for more than thirty years, licensing 90 percent of its software overseas.

“They could operate from anywhere, but the founders like the lifestyle here,” he says. “Other companies could also have their headquarters here while doing business all over the world.”

The akIBC highlights these companies each year at its Tech Forward Alaska luncheon, and the center plans to step up its efforts to develop what Wolf calls “Alaska’s Tech Tundra.” This includes highlighting companies that have been in business for decades to demonstrate proof of concept.

“We want to encourage those in tech to think of Alaska as a home base; they can live here instead of Silicon Valley or Austin or the Research Triangle, which helps further Alaska’s economic diversification,” Wolf adds.

In 2024, akIBC will conduct two trade missions to China (one to Xiamen and one to Shanghai), as well as lead trade missions to Singapore and India.

“China hosts one of the most important global trade and investment shows annually that attracts more than 125,000 people over three days,” says Wolf. “Last year, we were the only state delegation there. We got a lot of attention waving our American flag and the Alaska flag, representing products and services from twenty companies.”

Johnson has attended these trade missions with akIBC as a way to identify foreign markets and create lasting contacts. “akIBC gives small businesses traveling abroad legitimacy,” he explains. “In our first trade mission to Taiwan, Singapore, and India, we got meetings with embassy and consulate members, which you don’t normally get as a small company off the street.”

In addition to helping small companies get their foot in the proverbial door, Johnson says akIBC helps members understand different business customs and cultures. “Through the akIBC, I was inspired to translate my business cards and marketing materials into Mandarin and Japanese,” he says. “These things are critical, but the difference is that not everybody does it.”

What happens on a trade mission? Johnson gives the example of a trade mission to India where he had the opportunity to meet India’s Minister of Coal. Two weeks later, he was approached by a group looking to export coal from the Navajo Four Corners Mine to potentially sell to China, despite logistical challenges and competitive disadvantages as a late entrant to the Chinese coal market.

Based on his contact with India’s Minister of Coal, Johnson asked if the mine considered selling coal to India, and he helped address the challenges of moving coal from Arizona through the Canadian Pacific Northwest. This included routing coal through Mexico, leveraging not only the Mexico-Chinese trade pact but also utilizing a contact from the Mexican Consulate whom Johnson had met in Anchorage as a member of the akIBC.

“In under a month, I was able to give them not only a transportation solution but provide the client with a strong competitive alternative between China and India, even though I was not in the coal industry,” he says. “I would never have had those connections if I had not attended that event.”

With the new branding comes expanded member benefits beyond what akIBC already does. In addition to a traditional membership, the organization has introduced an All-Access Pass that includes free admittance to any akIBC-sponsored event (except trade missions) and guarantees admittance to sold-out events. The pass provides access to the akIBC’s numerous luncheon meetings, conferences, private sector receptions, trade shows, and roundtables with leading business executives in Alaska and overseas governments.

The akIBC is also expanding its highest level of engagement, the Taipan Club, which hosts exclusive events for club members, including small meetings with foreign diplomats or business executives who are interested in what those companies offer. This membership includes 24/7 access to akIBC staff via a hotline, which Wolf says is important to those business members traveling overseas.

In the longer term, Wolf is hoping to add Alaska/akIBC overseas trade offices similar to what the state of Alaska used to have in Japan, Korea, Taiwan, China, and Russia.

“There used to be a state government program that promoted trade and tourism in these important markets, but they’re now all closed due to budget cuts and lack of attention; they no longer exist,” says Wolf. “That decision was really short-sighted, and I think it would greatly help us to reinstitute some form of trade representation on the ground in key markets—like China, Korea, Japan, Singapore, and India—with someone who understands the culture and speaks the language.”

To do this, Wolf says that he will need support from the private sector and the government to build these networks so that akIBC can help Alaskans do business in these countries and help businesses abroad find partners in Alaska.

As the global economy evolves, Wolf says that it’s imperative for local businesses to get involved.

“International trade is big business for Alaska. We have a small domestic market, so there are only four choices if you want to grow as a successful Alaska business: you can grow organically, grow through acquisition, start expanding your business to the Lower 48, or go overseas.”

Wolf is very positive about the international potential. “It’s easy to get down about the state’s shrinking population, but you have to remember that there are markets beyond our borders. For example, there are very large, lucrative seafood markets overseas that want seafood products that Americans won’t consume; these foods are part of their cuisine and culture and are highly desired.”

He adds that, out of the world’s consumers, only 5 percent of the market is domestic, which leaves 95 percent of the total addressable market outside of US borders. For example, China, the world’s second largest economy, has 1.4 billion people, of which 400 million people are middle class.

“China’s middle class is larger than America’s entire population,” says Wolf, adding that India is poised to become the next large business market.

To this end, the akIBC wants to help members get ready. “Some of our members are already involved in international trade, and some are considering it,” says Wolf. “Others don’t work in international trade but provide services to those who do, like lawyers, banks, and shipping companies.”

While most of the akIBC’s members are small- to medium-sized companies, it welcomes multinationals as well, which benefit through the growth of local businesses.

“Multinationals are counting on us to grow local businesses in the hopes that these businesses will become their customers,” says Wolf. “If I’m shipping thirty packages a week on FedEx and can expand that to sixty packages a week, it benefits not only those companies but the community as a whole.”

Rebranding is already helping him make these contacts, now that non-Anchorage businesses have joined as new members.

“We have 115 companies now, and our immediate goal is 150, then 200,” he says, adding that his personal goal is to expand Alaska’s $6 billion in exports to $10 billion within the next ten years. “With the rebranding, we hope that people understand that we’re here to help all businesses in Alaska.”