Teamwork Yields $30-Million Panama Deal

By PATRICE APODACA

Dec. 31, 1997 12 AM PT

Despite growing concern over the Asian financial crisis and its impact on Orange County exports, the experience of a handful of local companies shows there are still opportunities abroad. The Republic of Panama has awarded a team of Orange County businesses a $30-million contract to design and build a new Legislative Assembly Complex in Panama City.

The group includes Pacific Genesis, a Laguna Hills project finance specialist; Wayne Wedin Enterprises, a Placentia economic development consulting firm; the Irvine construction company HNTB Design/Build Inc.; McLarand, Vasquez & Partners, a Costa Mesa architectural firm, and the Costa Mesa law firm Lewis, D’Amato, Brisbois & Bisgaard. They will oversee construction of a three-building complex that will house the country’s legislative chambers and offices. A hotel, commercial offices and retail space might be added later.

Wedin, the consultant, said Panama is a well-kept secret that American firms are just beginning to discover.

While Orange County businesses are increasingly penetrating the Mexican market--Chapman University economists forecast that in a few years Mexico will surpass Japan as the county’s single largest export destination--Central and South America have remained a relatively untapped area for local companies. But since landing the Panamanian contract, Wedin said he’s been approached by Bolivia regarding possible work there.

The American team, which competed against groups from South Korea, Israel and Spain, is receiving government-backed financing from the U.S. Export-Import Bank. “We believe as this information gets out about the stability of the region and the opportunity for growth, there will be a huge influx of certain California and Orange County exports and services,” Wedin said.

Panama is hungry for American products and services, he said, from help with the developing infrastructure to consumer goods. “They just love American products,” he said. “Those who are able to, fly to Houston and Miami just to shop. There is an opportunity for us to generate a market of substance.”

Patrice Apodaca covers economic issues for The Times. She can be reached at (714) 966-5979 and at [email protected].