Tech push spurs NSW to set up US office

THE NSW government will open an international business office in San Francisco with a view to strengthening investment in the technology sector. The Deputy Premier and Minister for Trade and Investment, Andrew Stoner, said the office would be open by January ''at the latest''. He said San Francisco was chosen because of its ''existing, new and emerging industries concentrated around venture capital and information and communications technology hubs in Silicon Valley''. Advertisement: Story continues below "The San Francisco office will drive investment, and promote exports and the research and development capabilities of our key industry sectors. These include digital services, information and communications technology and financial services where we have a competitive advantage.'' There are more than 4000 technology firms around the San Francisco Bay area and Silicon Valley, Mr Stoner said. The office will act as the NSW business hub for the US. "Establishing an on-the-ground presence will allow the NSW Government to effectively promote, access and maintain key corporate and government relationships and match NSW strengths to opportunities in the US,'' Mr Stoner said. The government would not detail how much it would cost, but said it would be funded from the existing budget of the Department of Trade and Investment. The recruitment of a director of the San Francisco office has begun in the United States. NSW already has business offices in Shanghai, Guangzhou, Mumbai and Abu Dhabi. On Tuesday, Mr Stoner announced a new export and investment advisory board to be chaired by the former Howard government minister Warwick Smith, chairman of ANZ for NSW and the ACT.