For Immediate Release — Wednesday, July 20, 2005

Contact:

Mary E. McCrank

Media Relations Officer

(585) 245-5516

mccrank@geneseo.edu

OR: Charles Goodwin, RIDC secretary: (585) 394-1219

SUNY Geneseo Receives $100,000 Grant to Expand International Business Programs

GENESEO, N.Y. — The State University of New York at Geneseo's Jones School of Business has received a $100,000 grant from the Rochester International Development Corporation to expand its international business program.

The grant will provide scholarships for students from the nine-county Rochester region to attend SUNY Geneseo, support students who study abroad at the college's international partner institutions and bring to campus guest lectures who are members of the area's international business community. Geneseo also will be able to develop its curriculum and expand its international business resource library.

The Rochester International Development Corporation (RIDC) also awarded a similar grant of $100,000 to Nazareth College in Pittsford, N.Y. SUNY Geneseo was selected as one of the two area colleges selected to receive the grants because the college and its faculty have strong international ties, including a Center for International Business; attracts numerous students from the Rochester region; and has high academic standards, said Charles Goodwin, secretary of the RIDC.

Of the $100,000, to be spent during the next three years, $25,000 will be allocated toward scholarships; $25,000 to support students participating in international study and internships; $30,000 to bring practitioners to Geneseo to give guest lectures, two international business symposiums on campus and partial funding for the development of undergraduate international business courses; $5,000 to buy international resource materials, such as books and videos; and $15,000 to support the establishment of global outreach and education and business opportunities with institutions and business organizations in Turkey, China and Russia.

"These funds will help both schools to better educate their international business students and, hopefully, help the greater Rochester nine-county region to retain a larger percentage of their 'best and brightest' students from these schools for international business careers, here in the greater Rochester area," said Tom Fatcheric, president of the RIDC, which focuses on expanding and developing additional international business opportunities throughout the greater Rochester area.

The scholarship assistance is available to Geneseo students or regional business executives from the following counties: Genesee, Livingston, Monroe, Ontario, Orleans, Seneca, Wayne, Wyoming and Yates. In addition to Geneseo students, the scholarships will be open to full-time business executives who live in the region and earn an annual salary of $50,000 or less.

Nader Asgary, associate professor of business and director of the Center for International Business at Geneseo, said the college is appreciative of the grant, which will provide more opportunities to students and area residents who need this training.

"The RIDC grant provides significant resource to the Center for International Business at the School of Business to internationalize its activities. The international activities will include additional courses, seminars and internships, which will support training for undergraduate students and professionals in the region for the next three years," said Asgary. "I believe RIDC has made a great decision by supporting educational training for the demanding international workforce in this region."

Goodwin said the goal of the grant is to educate and train students and area residents about how to conduct international trade — from the social etiquette of other countries to how to create a Web site that markets products to consumers in numerous countries to how to ensure a company is paid for products it already has shipped to another country.

"If you're not in international business, you're going to be out of business in 10 years," said Goodwin, adding that 95 percent of the world's population lives outside America.

The nine-county Rochester region exported more than $12 billion of goods to other countries last year, making it the leading per capita exporting city in the nation, he said.

The RIDC is working to persuade the area's college students and young professionals to settle in Rochester and to establish vibrant careers with an emphasis on international trade, he said.

"It's a global world, and it's a reality we have to cope with," said Fatcheric, who had a successful career with Eastman Kodak Co. in international relations.

Fatcheric stressed the importance of Americans understanding other cultures. Not only can it help businesses succeed internationally, but it also can lead to cultural harmony. He referred to a quote by Thomas Jefferson etched on the U.S. Department of Commerce building in Washington, D.C. It reads: "Cultivate Peace and Commerce with All."

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