Archive for the ‘EDO Spotlight Series’ Category

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US Senators Manchin and Capito Invite Global Business Leaders to Attend SelectUSA Investment Summit and Discover Why West Virginia is the Right Choice for Global Companies

June 7, 2019

This post is part of SelectUSA’s EDO Spotlight series, highlighting the work of EDOs around the country recruiting foreign direct investment, how that work supports jobs and economic growth across the United States, and how SelectUSA partners with EDOs to support economic development.This post contains external links. Please review our external linking policy.

Sara B. Dearing is the Executive Director of Discover the Real West Virginia Foundation

West Virginia is the premier location for global companies to expand and relocate. Companies that come to West Virginia are met with a thriving business climate, a dedicated and technically-trained workforce, low cost of doing business, an abundant and inexpensive supply of energy – and unending support from our local, state and federal leaders. manchin-capito_play-button

West Virginia’s U.S. senators not only play a hands-on role when it comes to attracting investment, they are dedicated to ensuring that companies that do invest in West Virginia, succeed.  This unwavering commitment to helping global companies find a home in the Mountain State is why Senators Joe Manchin and Shelley Moore Capito have teamed up to invite global executives to attend the SelectUSA Investment Summit and to join them at the West Virginia Booth (#714) for the State and Local Night Reception on June 11. Additionally, our senators invite business leaders to attend the West Virginia Spinoff Event, June 13-14, in Wheeling, West Virginia.

Here’s just a few reasons for global executives to choose West Virginia:

  • West Virginia is home to 136 global companies (including Toyota, Gestamp, Covestro, Novartis, TransCanada, Sogefi, Safran, and more) representing 30 countries from around the world with a diverse manufacturing base of industries including aerospace, automotive, chemical and polymers, energy, defense, and information technology, to name a few.
  • West Virginia has the strategic advantage of being in a region with the most cost-effective and abundant natural gas in the industrialized world. This region is right in the middle of half the U.S. market, and close to over two-thirds of U.S. polyethylene consumption.
  • West Virginia (located in Shale Crescent USA) is the most profitable place to locate petrochemical and other manufacturing plants. In fact, Yahoo Finance, the US Department of Energy, oilprice.com and others are calling this region “a second U.S. Petrochemical Hub”.
  • According to the American Chemistry Council, the Appalachian Region is uniquely positioned over the next decade to become a major petrochemical hub with the potential to attract $36 billion in new chemical and plastics industry investment.

It’s not just the aesthetic beauty of the state and its abundant natural resources that make West Virginia a great place to do business.  Deep down, it’s the people that make West Virginia a world-class location, and a state dedicated to providing the resources to elevate your company to the next level. Please come and meet our team, including Senators Manchin and Capito, at the SelectUSA Investment Summit, then join us in Wheeling for our spinoff event, and let’s get down to business.

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Building on Success: North Carolina Opens New FDI Office in India

May 22, 2019

Christopher Chung is the Chief Executive Officer of the Economic Development Partnership of North Carolina.

When you stop by North Carolina’s Booth 525 at this year’s SelectUSA Investment Summit, you’ll see a new face that expresses our strong commitment to attracting more India-based companies to a state that has been focusing for the past five years on winning Indian investment.

The Economic Development Partnership of North Carolina (EDPNC) recently opened the state’s first foreign direct investment (FDI) office based in India ― dedicated to increasing FDI into North Carolina from one of the world’s fastest-growing economies.

NC Gov.

North Carolina Gov. Roy Cooper and Infosys President Ravi Kumar announce in July 2017 that the technology consulting company would be establishing a 2,000-job hub in the Research Triangle region of North Carolina.

Our newest FDI representative ― Rahul Padmanabha ― is based in Bangalore. You can meet him at our booth, as well as representatives traveling to the SelectUSA Investment Summit from all the state’s other overseas FDI offices located in Europe, China, South Korea and Japan.

North Carolina, which opened the Bangalore office late last year, is paying attention to India because its executives certainly have been paying attention to us. According to the Moody Analytics company Bureau van Dijk, from 2014 through 2018:

  • Indian companies announced more than $409 million in capital investment and 4,400 new jobs in North Carolina.
  • North Carolina ranked No. 1 among all states for the number of announced jobs connected to Indian FDI.
  • North Carolina was No. 2 in the Southeast U.S. and No. 3 nationwide for the total capital investment announced by Indian companies.

That’s substantial growth in Indian companies choosing our state. And there’s opportunity to attract more of the same because North Carolina is a national leader in industry sectors that closely align with Indian interests ― including IT, pharmaceuticals, textiles, food processing, automotive and aviation.

In the big area of IT consulting, for example, our central East Coast location and tech talent appeal to global companies that want to nearshore facilities closer to their existing U.S. customers. Another big draw? North Carolina’s business-friendly costs and tax climate – including the lowest corporate income tax rate in the United States at 2.5 percent.

Announcements by India-based companies in recent years have made big headlines in North Carolina, such as information technology giant Infosys choosing Raleigh in 2017 for a 2,000-job innovation and technology hub. Others include IT services company HCL Technologies’ 1,237-job expansion in CaryAurobindo Pharma’s 275-job research and development headquarters in Durham; and technology services firm Zensar’s new customer delivery center, which is expected to create up to 200 new jobs in Durham.

There’s also Glenmark Pharmaceuticals, which announced its first U.S. manufacturing facility in Monroe outside Charlotte in 2014. The $100 million facility currently employs nearly 170 people.

While urban areas have attracted most of North Carolina’s India-source investment, several projects have been announced in our rural communities. For example, AR Textiles, part of the India-based Sunflag group of companies, has a factory in Martin County.  Mumbai-based Mahindra Vehicle Sales and Service chose Henderson County for its North American office headquarters.

As SelectUSA’s former lead for India, Rahul brings to his new North Carolina FDI role a deep understanding of what Indian companies need to succeed in the United States. Visit Booth 525 to find out how North Carolina can meet those needs, or email me directly at cchung@edpnc.com. I’ll be at the SelectUSA Investment Summit as well, and looking forward to connecting.

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Mentoring International Success: A Mid-Size Midwestern Municipality’s Mission

February 27, 2019

Kevin D. Malecek is the Director of Economic Development and International Trade for the City of Mentor, Ohio

This post is part of SelectUSA’s EDO Spotlight series, highlighting the work of EDOs around the country recruiting foreign direct investment, how that work supports jobs and economic growth across the United States, and how SelectUSA partners with EDOs to support economic development.

Mentor, Ohio Means Business logoRecognizing the unique approach of a smaller municipality to engage in global trade and investment conversation, the City of Mentor has successfully conducted several trade-oriented seminars to inform area companies on the benefits of overseas business opportunities, pursued potential partners interested in FDI through annual trade missions to Germany and the United Kingdom, and marketed incentive programs essential to the success of those that would examine opportunities in Mentor. City officials regularly converse with companies, organizations, chambers of commerce, and overseas governments to explore mutually beneficial partnerships.

In particular, the conversations and visits to the United Kingdom resulted in the negotiation and signing of a partnership memorandum with Medilink Midlands, a trade organization supporting more than 300 life sciences companies in the Midlands region of the UK. The Midlands region shares many similarities with Northeast Ohio: the development of a strong life sciences cluster among them, with companies in Mentor like STERIS and SourceOne and medical facilities nearby like the Cleveland Clinic, University Hospitals, and LakeHealth.

The growing “special relationship” between Mentor and Medilink Midlands brought an inbound delegation of Medilink members and their Chairman, Keith Widdowson, to Mentor in October where potential FDI projects were considered. The City of Mentor arranged presentations by the Cleveland Clinic, STERIS, and other essential regional partners to tout the benefits of doing business in Mentor.  As a component of the ongoing relationship, a delegation from Mentor will return to the UK to Medilink’s Med-Tech Expo in May to advance discussions and negotiations. City officials continue to converse with local partners to find linkages with Medilink’s members and encourage local businesses to accompany the City on its trade mission so those companies can find new markets in the UK.

In Mentor’s case, it shows that the population size does not matter – with the right approach, personnel, resources, and initiative, a mid-sized municipality in the Midwest with a mighty economic engine can pursue FDI opportunities anywhere.

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Faribault: The Most Global Small City in Minnesota

December 19, 2018

Elise Buchen, Deanna Kuennen, Samantha Markman, and Laurence Reszetar promote the State of Minnesota to international business investors at the Minnesota Department of Employment and Economic Development’s Trade Office.

This post is part of SelectUSA’s EDO Spotlight series, highlighting the work of EDOs around the country recruiting foreign direct investment, how that work supports jobs and economic growth across the United States, and how SelectUSA partners with EDOs to support economic development.

Standing on Park Avenue in Faribault, Minnesota is just like standing on Park Avenue in New York: everywhere you turn you see successful global businesses.

If you face east, you see the U.S. headquarters of a multi-generational Mexico-based company. Turn west, and you see the U.S. headquarters of a world-leading, high-tech French company. Look slightly northwest and there is a large warehouse teeming with traffic, which is owned by a German company. Just up Park Avenue, a large Japanese firm is building a state-of-the-art facility.Faribault Banner Picture

Faribault is just like New York City… if New York City had a population of 24,000, was located an hour south of Minneapolis, and had a median house price of $182,400.

In truth, Faribault might be the most global small city in Minnesota, if not the world. Its motto is Small Town Pride, Big City Opportunity, and it has the data to back both of those up. Faribault proudly features the following countries and businesses:

  • The global headquarters of Sage Electrochromic Glass, a division of Saint-Gobain (France), is located in Faribault. Sage manufactures specialized glass that remains transparent even as it uses electrochromic technology to block out the solar radiation. Glass is expensive and difficult to ship, so you know it must be the high-quality if it’s being manufactured in Faribault and shipped around the world, from Dubai to Dallas.
  • Faribault Foods, owned by La Costeña (Mexico), just completed its $150 million dollar investment in a first-of-its-kind, vertically-integrated food manufacturing plant in Faribault. When La Costeña made the decision to expand its facility, the opportunities in Faribault caught the company’s attention.
  • Daikin Applied (Japan) just announced its $40 million expansion to build some of the most energy-efficient cooling HVAC units in the U.S. At the heart of the expansion was an unprecedented effort where the county, city, and local economic development authority jointly conducted hearings where the permits and incentives for the project were approved simultaneously by all three bodies. This gave the green light for the company to convert a vacant 300,000 square foot warehouse to a state-of-the-art manufacturing facility.
  • A German-owned powerhouse in food distribution located on the banks of Interstate 35, Aldi Distribution provides a high-class warehouse and distribution facility for the multinational Aldi food stores. This was one of the first Aldi Distribution facilities in Minnesota. The company recently completed a 60,000 square foot expansion, further proving that Faribault can support the growth and expansion of global industries.

Faribault’s small town pride shows in that nearly 1,350 Faribaultians work for these foreign-owned enterprises. They have titles like mechanical and quality engineers, production control analysts, and manufacturing services liaisons. It’s because of their commitment and the leadership of these global corporations that Faribault’s Small Town Pride creates Big City Opportunities that meet the world’s demands and continue to grow the world’s economy.

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Building Relationships: The Key to Making Illinois a Top Location for FDI

October 10, 2018

This post is part of SelectUSA’s EDO Spotlight series, highlighting the work of EDOs around the country recruiting foreign direct investment, how that work supports jobs and economic growth across the United States, and how SelectUSA partners with EDOs to support economic development.

This post contains external links. Please review our external linking policy.

Mark Peterson is President & CEO of Intersect Illinois

Foreign direct investment (FDI) is key to the economic renaissance underway in Illinois. With more than 1,800 foreign owned companies already calling Illinois home and contributing more than $100 billion to the state’s GDP, the potential for growth is tremendous.

Relationship building on an international scale is crucial to Illinois’ foreign investment strategy. Over the past year, Intersect Illinois has built strong international relationships while promoting the state’s assets. Intersect has taken part in jobs missions to China, Japan, Germany, Poland, and Italy and hosted multiple delegations from these countries that have directly resulted in investment in Illinois.

The Intersect Illinois booth at the 2018 SelectUSA Investment Summit, June 18-20, 2018.

The Intersect Illinois booth at the 2018 SelectUSA Investment Summit, June 18-20, 2018.

A recent example of the results is Faber-Castell Cosmetics’ announcement of its first North American manufacturing facility in Illinois. The German company’s state-of-the-art $9 million manufacturing plant in Elgin will create 50 full-time jobs. The decision to locate in Illinois came after Intersect Illinois led a trip to Germany, where the delegation (including the governor) met with Faber-Castell’s leaders.

Intersect Illinois also coordinated a visit to China and Japan, that included meetings with companies such as Aisin Seiki (employs 843 people in Illinois), Sakae Riken Kogyo Co., Ltd. (which employs more than 400 in Illinois), and Toyota Boshoku, which has a plant in Lawrenceville. The team also met Caterpillar China, toured Wanxiang Group, and met with more than 60 businesses.

Following the visit, Intersect Illinois welcomed the newly appointed Japanese Ambassador to Illinois on a visit that focused on advancing the state’s business partnerships with Japan. This was part of the consul-general of Japan in Chicago’s Grassroots Caravan program to highlight the contributions of Japanese companies to local economies.

The group toured local Schaumburg companies to see the latest manufacturing innovations and learn more about Illinois’ workforce. The visit reinforced the benefits of foreign direct investment, while showcasing Illinois as a premier location for Japanese companies to grow.

Additionally, Intersect Illinois attended a SelectUSA event in three cities in Italy, meeting with several Italian companies interested in opening operations in the United States. Following the trip, Intersect hosted site tours for Cembre S.p.A, a company from Verona, Italy that attended the SelectUSA event. In August, Cembre opened a sales office in Schaumburg, with plans to distribute its imported products. Intersect also recently hosted site tours for another Italian manufacturer it met in Italy, which is looking to launch its first U.S.-based manufacturing operation.

Through proactive outreach, Intersect Illinois’ project pipeline has nearly quadrupled over the past year; the team is currently working on nearly 100 business attraction projects, more than 50 percent of which are FDI projects. That number is expected to grow as Intersect Illinois continues to market the state’s rich assets around the globe.

With the world’s 17th largest economy, Illinois is a proven global player and an excellent destination for international business. For more details on Intersect Illinois’ comprehensive FDI strategy, or how Illinois supports global companies, visit www.IntersectIllinois.org.

 

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The Show Me State Sees Significant FDI

April 11, 2018

This post contains external links. Please review our external linking policy.

Guest blog post by Steve Johnson, CEO, Missouri Partnership

Graphic of the Missouri Partnership logo.Businesses with overseas locations are rapidly transitioning production back to the United States, and facilities are popping up in every region, including Missouri. Manufacturers are taking advantage of what Missouri has to offer by joining an existing industry center with the infrastructure and talent supplies already in place, including access to major customers.

The United States is poised to re-emerge as a manufacturing superpower, thanks in large part to foreign direct investment. Since January 2017, Missouri has attracted significant investments by foreign-owned companies and from U.S. companies’ reshoring jobs. Some examples include:

  • Brødrene Hartmann, a Danish manufacturing company, kicked off production at its U.S. headquarters in Rolla, Missouri;
  • Trans-Lux reshored jobs from China to Missouri;
  • Toyota invested more than $17 million in its Missouri plant; and,
  • Nammo AS, an international aerospace and defense company headquartered in Norway, chose Pettis County, Missouri, as the site of its latest U.S. distribution center.

SelectUSA EDO SPOTLIGHT SERIES:

This post is part of SelectUSA’s EDO Spotlight series, highlighting the work of EDOs around the country recruiting foreign direct investment, how that work supports jobs and economic growth across the United States, and how SelectUSA partners with EDOs to support economic development. 

“This move to Missouri is a well thought through strategy where all the benefits for all counterparts are optimized,” said Raimo Helasmaki, Nammo’s Executive Vice President of Commercial Ammunition. “The local authorities have been very easy to work with to help develop this project. We look forward to years of growth through this facility.”

In February, Faurecia, a leading automotive technology company headquartered in France, announced an investment of more than $60 million and the creation of more than 300 jobs in Blue Springs, Missouri.

“Kansas City Metro and the Blue Springs areas are known for being a source of excellence in American manufacturing, and we’re looking forward to building on that expertise and skill set as we continue to provide the very best to our customers,” said Donald Hampton, Jr., president of Faurecia Interiors in North America.

In March, Switzerland’s ARG International AG announced an investment in the U.S.-based Magnitude 7 Metals, creating more than 450 advanced manufacturing jobs in Marston, Missouri.

“From Washington to Missouri, what we are announcing today is the result of years of hard work and a major change in the way employers and farmers are treated,” said U.S. Representative Jason Smith (MO-8) about the Magnitude 7 investment. “We are bringing back the domestic aluminum and steel industries, and with it, jobs.”

Manufacturing buzz is building and it has crossed international barriers. Foreign companies recognize the advantages of manufacturing in the United States, and their interest is leading to serious discussions and decisions. This migration seems to be leading to a resurgence in American manufacturing prosperity, returning to its roots as a center of innovation and enterprise.

For more information on the Missouri Partnership, please visit missouripartnership.com.

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Eastern Idaho Secures Its First Foreign Direct Investment

February 9, 2018

This post contains external links. Please review our external linking policy.

Guest post by Lisa Buddecke, Regional Economic Development for Eastern Idaho

Photo of Sakae Casting President and CEO Takashi Suzuki and Lt. Governor of Idaho Brad Little at the 2017 SelectUSA Investment Summit, June 20, 2017.

Sakae Casting President and CEO Takashi Suzuki and Lt. Governor of Idaho Brad Little at the 2017 SelectUSA Investment Summit, June 20, 2017.

Eastern Idaho, known for its Innovation Corridor – featuring extensive science, technology, and research sectors – secured its first foreign direct investment (FDI) success as a direct result of SelectUSA.

In the spring of 2017, Regional Economic Development for Eastern Idaho (REDI) celebrated the grand opening of two Japan-based metal fabrication businesses, Sakae Casting and Ohzen, in Idaho Falls. These investments, the first for both companies in the United States, were finalized after meeting with the Idaho team and SelectUSA representatives at the 2016 SelectUSA Investment Summit.

This FDI came about in a unique way. REDI’s CEO Jan Rogers first contacted Sakae Casting during its 2016 visit to Idaho Falls, thanks to a sister city program between Idaho Falls and Tokai-mura, Japan. At the recommendation of Rogers, Sakae, together with the company’s partner Ohzen, attended the SelectUSA Investment Summit later that summer.

“Thanks to Sakae Casting and Ohzen’s success at the SelectUSA Summit, their representatives returned to Idaho Falls to meet with potential partners, including the University of Idaho, Boise State University, and local advanced manufacturing companies,” Rogers said. “With support from our contacts at SelectUSA, Sakae decided to open its first U.S. location here to focus on research and development and partner with our universities, nuclear, and advance manufacturing companies in product development and sales.”

Selecting Idaho Falls was an ideal fit for Sakae and Ohzen. With the University of Idaho, Idaho State University, Brigham Young University-Idaho, and Idaho National Laboratory in the region, these entities are already beginning to pay off for Sakae Casting.

In November 2017, the Idaho Department of Commerce awarded a nearly $238,000 Idaho Global Entrepreneurial Mission (IGEM) grant to the University of Idaho, Boise State University, and the Center for Advanced Energy Studies to partner with Sakae Casting on research and development on spent nuclear fuel storage and cooling capabilities. The results of this partnership could impact nearly 100 nuclear power sites. The IGEM funding is vital to kick-starting Sakae’s extensive R&D efforts.

Without Sakae Casting attending the SelectUSA Investment Summit and SelectUSA’s ongoing support throughout the process, none of this would have been possible. This successful interaction is a testament to how valuable SelectUSA can be in fostering and supporting FDI in the United States, and how FDI projects can grow foreign capabilities and economic development years after the initial investment.

To learn more about the upcoming 2018 SelectUSA Investment Summit (June 20-22), please visit selectusasummit.us.