FCEDA, InnoHungary Tech Center are Tysons Corner stops for Hungarian business delegation on U.S. tour

Alan Fogg, FCEDA, afogg@fceda.org, +1 703-790-0600 (o) or +1 571-213-5065 (m)

Panel discussion focuses on investment possibilities in northern Virginia

Wednesday, June 21, 2017

Fairfax County, Virginia – A delegation representing a diverse set of business sectors in Hungary visited the Fairfax County Economic Development Authority (FCEDA) on Wednesday to learn about relocation opportunities and investment possibilities.

Inter-Access Inc. and the InnoHungary Technology Center of Tysons Corner co-hosted the event, which included a panel discussion with investment specialists from the Fairfax County area.

The Tysons Corner stop was part of a 10-day East Coast tour, during which the nine-member Hungarian delegation will also visit Ohio and Georgia.

Istvan Foldesi, president of Inter-Access and director of the InnoHungary Technology Center, which develops connections between Hungarian and U.S. companies and markets, offered assurances that the time is right for foreign companies that have a solid business plan and financing. “You will meet people here in Fairfax County who will help you,” he said. “And the U.S. government not only welcomes investment but actively supports attempts to attract innovative companies to the U.S.”

The Hungarian delegation included representatives involved with a wide range of companies, from education, food and entertainment to telecommunications, energy and light-aircraft production.

“While much of our business community centers around technology, a diverse economy has become a hallmark of Fairfax County,” said Gerald L. Gordon, Ph.D., president and CEO of the Fairfax County Economic Development Authority. “Our highly skilled workforce, access to local and global markets and quality of life are attractive to firms in many sectors, including international firms, and we welcome the opportunity to spotlight Fairfax County to our Hungarian guests.”

During the panel discussion, Bruce Chen of the Washington DC ArchAngels, a consulting firm that works with startup investors and entrepreneurs, emphasized the importance of having a strong management team, evidence of market acceptance and global scalability for those seeking investment. Randy Reade of the Washington DC ArchAngels emphasized the need to make a “compelling case” for international products.

Mark Orban of Mendelson & Mendelson Certified Public Accountants reminded attendees to be aware of state, local and federal tax implications, and Randy Domolky of the Liquid Capital Group, talked about the advantages of finding a local partner.

“Virginia is very business-friendly – in particular northern Virginia,” Foldesi said. “You will find a sophisticated labor force and that transportation connections to all of the U.S – in fact all over the world – are excellent. If you need a partner, this area creates a welcoming presence.”

Time magazine called Fairfax County “one of the great economic success stories of our time.” Business growth and innovation helps Fairfax County fund the nation’s top-rated school system and other public services that contribute to the quality of life of residents. Fairfax County offers businesses a state-of-the-art telecommunications infrastructure, access to global markets through Washington Dulles International Airport, a vibrant investment capital community and a highly skilled, well-educated workforce.

The award-winning Fairfax County Economic Development Authority promotes Fairfax County as a business and technology center. The FCEDA offers site location and business development assistance, and connections with county and state government agencies, to help companies locate and expand in Fairfax County. In addition to its headquarters in Tysons Corner, Fairfax County’s largest business district, the FCEDA maintains marketing offices in six important global business centers: Bangalore, Berlin, London, Los Angeles, Seoul and Tel Aviv. Follow the FCEDA on Facebook, Twitter and LinkedIn.

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