Archive for the ‘Foreign Direct Investment’ Category

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FDI Strengthens America’s High-Tech Competitiveness

October 5, 2017

By Maureen Book, Research Analyst, SelectUSA 

Map of United States highlighting high-tech employment concentration by metro area, 2015 Source: U.S. Census Bureau, 2015 County Business Patterns, Accessed July 6, 2017, factfinder.census.gov

High-Tech Industry Employment Concentration, High-Tech Employment/All Employment, by Metro Area, 2015 Source: U.S. Census Bureau, 2015 County Business Patterns, Accessed July 6, 2017, factfinder.census.gov

SelectUSA released its second industry-focused report: “High-Tech Industries: The Role of FDI in Driving Innovation and Growth” on Sept. 19. This report provides an in-depth look at high-tech clusters in the United States, and gives the first-ever analysis of the role of foreign direct investment (FDI) in high-tech industries. The report’s biggest takeaway is that FDI plays a significant role in these industries.

Where are high-tech clusters?

High-tech industries have a concentration of science, technology, engineering, and mathematics  and employ more than twice that of the national average. After analyzing the U.S. high-tech industry and considering participation of both foreign and domestic firms, SelectUSA explored the geography of high-tech companies in the United States by state, to identify large groups, or clusters, of employment.  The top employers of high-tech workers were California, Texas, and New York, while the District of Columbia, Virginia, and Washington boast the highest employment per capita of high-tech jobs.

High-Tech Clusters by Metro Area

Looking at metro areas with the highest concentration of high-tech employment, SelectUSA found that San Jose, Calif., tops the list with more than 34 percent of local employment in high-tech industries. They were followed closely by Elkhart, Ind., with nearly 33 percent, and Huntsville, Ala., with more than 31 percent. While the concentration in San Jose might not be surprising because it is the largest city in the Silicon Valley area, Elkhart and Huntsville both have industry concentrations nearby to make them important locations for high-tech companies. Elkhart’s economy is heavily concentrated in the transportation equipment manufacturing industry, and centers around recreational and commercial vehicle manufacturing. Huntsville is home to many aerospace and defense contractors, and military technology firms.

The Role of Foreign Direct Investment (FDI)  

The data cited is provided by the Bureau of Economic Analysis. 

Line graph showing FDI impact in U.S. high-tech industries from 2007-2015. Three outputs are measured: R&D, contributions to U.S. exports and their contribution to value-add. FDI’s contribution to value-add has been rising steadily over time, except for the dips in 2008-2009, where all indicators experienced a shift downwards due to the recession. FDI’s contribution to U.S. goods exports has also been rising since 2009, except for the past couple of years, which have seen a decline. R&D spending has remained relatively constant from 2007-2015.

FDI Impact in U.S. High-Tech Industries, by Majority Foreign-Owned U.S. Affiliates Source: Source: Department of Commerce, U.S. Bureau of Economic Analysis, Accessed Oct. 24, 2016, http://www.bea.gov/iTable/index_MNC.cfm Note: Data for some high-tech industries has not been included due to lack of available data.

Using our definition of high-tech industries and data published by the Bureau of Economic Analysis, SelectUSA looked at the role that FDI plays in high-tech industries. For those not familiar with the terminology, FDI generally captures a long-term relationship with the management of a foreign enterprise, which is usually linked with the real output of the country in which it operates.

Our data found that FDI stock in high-tech industries reached more than $1.6 trillion in 2016, and supported 2.1 million jobs in the United States. In fact, the high-tech component of FDI is quite robust; nearly 44 percent of all FDI in the United States is invested in high-tech industries.

Compensation, R&D, Exports, and Value-added Activities

Beyond employment, one must also acknowledge the significant impact that foreign firms in high-tech sectors play in other economic activities. For instance, U.S. affiliates of foreign-owned firms on average offer a higher compensation to U.S. workers than domestic . But FDI in high-tech industries offer a greater average compensation than other FDI companies in other industries. U.S. affiliates of foreign-owned firms also greatly contribute to the innovation sector of our economy, spending nearly $42 billion on research and development (R&D) in the high-tech sector. In 2015, they also contributed $154 billion towards U.S. goods exports and more than $373 billion towards value-added activities.

Historical-cost basis bar graph showing FDI entering the United States since 2007. Blue bars show FDI entering the country, but not classified as high-tech, and the red bar is all FDI entering the U.S. that is classified as high-tech. The gray line shows the percentage of high-tech FDI compared to all FDI entering the U.S. Looking at 2016, we can see that high-tech FDI accounted for nearly 44% of all FDI in the U.S. and amounted to $1.6 trillion. FDI in high-tech has also been growing by an average of more than 10% each year since 2009.

High-Tech Position in the United States, Historical-Cost Basis Source: Department of Commerce, U.S. Bureau of Economic Analysis, Accessed Aug. 17, 2017, http://www.bea.gov/iTable/index_MNC.cfm

Source Markets Supporting High-Tech

We also find that Germany, the United Kingdom, France, and Japan are among the largest source markets for R&D spending, exports, and value-added activities in high-tech industries. Beyond that, they are also several of the United States’ leading trading partners. Collaborating with them on FDI reinforces the trade relationship and strengthens our nation’s bilateral ties with these partners.

For more information:

Please visit selectusa.gov to view the full report, other industry reports, international and domestic FDI fact sheets, and SelectUSA’s data visualization tool, SelectUSA Stats.

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Help Us Plan the 2018 SelectUSA Investment Summit

September 19, 2017

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

By Fred Volcansek, Executive Director, SelectUSA

It’s already that time of year again: our team is gearing up for the next SelectUSA Investment Summit. On June 20-22, 2018, the SelectUSA team will join thousands of international business investors, economic developers, and service providers at the Gaylord National Resort and Convention Center to convene the highest-level event of its kind in the United States.

Photo from the 2017 SelectUSA Investment Summit, June 18-20, 2017. Pictured (from left to right): Safra Catz, CEO, Oracle; Gilbert Lee, CFO, Fuling Global, Inc.; Greg Scheu, President, ABB Americas Region; Ludwig Willisch, President, CEO, and Chairman of the Board, BMW (U.S.) Holding Corp.

Photo from the 2017 SelectUSA Investment Summit, June 18-20, 2017. Pictured (from left to right): Safra Catz, CEO, Oracle; Gilbert Lee, CFO, Fuling Global, Inc.; Greg Scheu, President, ABB Americas Region; Ludwig Willisch, President, CEO, and Chairman of the Board, BMW (U.S.) Holding Corp.

This past June, SelectUSA held its largest Investment Summit yet. Hosted by Secretary of Commerce Wilbur Ross and headlined by Secretaries Alexander Acosta (Labor), Steven T. Mnuchin (Treasury), and Rick Perry (Energy), as well as the UK Secretary of State for International Trade Liam Fox, the 2017 Summit brought more than 2,800 international participants together. The 79,000-sq.-ft. Exhibition Hall was filled to capacity with economic development organizations from 51 U.S. states and territories. CEOs from prominent U.S. and foreign companies participated in armchair discussions and breakout sessions to discuss the latest developments in FDI. I encourage you to read my summary blog post here for more details.

Of course, none of this happened overnight; planning for this important event is neither quick nor simple. Our team spends many months fine-tuning and developing ideas into reality. We are dedicated to bringing high quality discussions and influential thought leaders and executives to the Summit every year. Next year will be no exception, and we want to ensure that it is not only relevant, but full of information that can be instantly used to increase investment in the United States.

The SelectUSA team is planning the plenary and breakout sessions, Investment Academy, Exhibition Hall, and more. There are a lot of exciting developments in the pipeline, but we want you to be involved as well! Indeed, much of the content of previous Summits came from proposals from our stakeholders and partners across the fields of economic development and FDI.

So, we want to hear from you. What are your ideas for topics that should be covered? Do you have a speaker in mind? Is there a subject that needs to be included? The Call for Proposals is live; let us know what should be included in the program.

Additionally, we are looking to fill the Summit events calendar with collateral and spin-off events, hosted by our friends in the economic development community. These events are often where new job-creating investments begin, and we want to build on the success of last year’s calendar. SelectUSA welcomes your input and we want to make the 2018 Summit our best yet.

For more information on the SelectUSA Investment Summit, please visit www.selectusasummit.us.

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#FDIintheUSA: Nearly 7 Million American Jobs

September 7, 2017

By Elizabeth Schaefer, Director of Investment Analysis, SelectUSA

As Director of Investment Analysis, I am responsible for leading SelectUSA’s data evaluation efforts related to foreign direct investment (FDI) promotion in the United States. So, it was with great interest (and I’ll admit excitement) that I reviewed the newly released preliminary 2015 and revised 2014 FDI activity data from the Bureau of Economic Analysis (BEA), which follows the July release of 2016 FDI Inward Stock data.

You may be asking, “What does this mean?” Here’s the breakdown…

The updated data provides a picture of the inward flow of FDI into the United States, as well as the economic activity of U.S. affiliates of foreign-owned firms, from employment figures to research and development (R&D) spending. Overall, the numbers reflect continued, steady FDI growth in America.

But as always, it makes the most sense to start at the beginning.

FDI Definition and Parameters 

FDI, as defined by BEA, generally captures a long-term relationship with the management of a foreign enterprise, which is usually linked with the real output of the country in which it operates. In other words, FDI refers to businesses based in other countries and markets.

At the end of 2016, FDI stock (the total amount) reached $3.7 trillion, a 12.8 percent increase from the revised $3.3 trillion 2015 end-of-year figure. This year, on-year growth outpaces the trend in FDI stock growth over time. On average, during the last five years, FDI stock has grown nearly 9 percent each year.

Sources of Inward FDI Stock 

Sources of Inward FDI Stock

The latest available 2016 data show continued strong investment relationships with the United Kingdom, Canada, Japan, and Germany, all of which are historically large sources of investment into the United States. In fact, these top four sources of direct investment alone account for nearly half of all FDI in the United States. However, compared to the previous year of available data, this concentration has slightly dissipated, with economies like Ireland and Switzerland gaining overall shares of U.S. FDI.

The top four fastest-growing sources of FDI in the United States, calculated by looking at annual growth rates since 2011, are Thailand, Argentina, China, and Singapore. In contrast to the largest sources of investment, these top four relatively new sources of investment make up less than 4 percent of total FDI stock in the United States.

It is important to note that these figures attribute FDI ownership to the market at the top of each investment’s ownership chain – the ultimate beneficial owner or “parent company” – rather than capturing investment passed through intermediate markets via subsidiaries.

Industry Destinations of Inward FDI Stock 

Industry Destinations of Inward FDI Stock

The latest available data continue to show enduring ties between FDI and the manufacturing sector. Manufacturing industries attracted an incredible 41 percent of the FDI pie at the end of 2016. Diving a bit deeper, the chemicals, transportation equipment, food, and machinery manufacturing industries captured 64 percent of manufacturing FDI. Looking at year-on-year changes, the professional, scientific, and technical services sectors experienced dramatic growth, increasing in value by more than 28 percent. The diverse mix of industry and sector destinations for FDI in the United States continues to demonstrate that the United States is an important destination and market for globally competitive companies.

Jobs 

Direct Employment by Majority Foreign-Owned Firms in the United States

In 2015, FDI from majority foreign-owned firms was responsible for 6.8 million direct jobs in the United States, an increase of 1.5 million since the end of the 2009 recession. These are high-impact jobs, too; the average annual compensation per direct worker in 2015 was $79,040, almost a quarter higher than the national average.

Other Related Activities

R&D

FDI continues to enhance U.S. global competitiveness by bolstering R&D spending in the United States. The U.S.-based affiliates of majority foreign-owned firms spent nearly $57 billion on R&D activities in the United States in 2015.

Exports

Linkages between trade and investment also remain clear. Exports of goods shipped by majority foreign-owned affiliates declined nearly 20 percent in 2015 compared to 2014. Despite this dip, the $353 billion in goods exports accounted for 23 percent of all U.S. goods exports.

What’s Next?

You can explore this data and more with SelectUSA’s data visualization tool and updated fact sheets at SelectUSA.gov. Additionally, I encourage you to check out #FDIintheUSA on Twitter, our annual campaign that highlights the economic benefits of FDI at the state/territory and national levels through infographics and interactive conversations.

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Wisconsin Economic Innovation Flows Through International Collaboration

March 31, 2017

Katy Sinnott is Vice President of International Business Development for the Wisconsin Economic Development Corporation (WEDC), the state’s lead economic development agency. Foreign direct investment (FDI) is a significant driver of Wisconsin’s economy, directly supporting 90,000 jobs across multiple industries. WEDC is dedicated to increasing FDI in Wisconsin by nourishing international connections and identifying new opportunities collaboration.

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.

Mindful of the boost that FDI provides to Wisconsin’s overall economic growth—more than 1,500 foreign-owned establishments have created nearly 15,000 new full-time jobs since 2003—WEDC is working to grow those numbers even further.

One major thrust of our strategy is strengthening ties for Wisconsin’s key industries to their counterparts overseas. When we work at connecting a whole industry, there is a multiplier effect compared to working company by company to build connections. This approach helps support economic growth and also promotes innovation in Wisconsin, as our companies get a chance to cross-pollinate ideas with their industry colleagues from other countries, sharing and comparing their different approaches to solving common problems.

Signing

At WEFTEC 2016, The Water Council and the German Water Partnership signed a memorandum of understanding paving the way for future Wisconsin-Germany collaboration.

Bringing Wisconsin to the World, and the World to Wisconsin

To see how these international industry connections can bear fruit, we need look no further than Wisconsin’s water technology sector, which has been actively cultivating these connections for several years under the leadership of The Water Council, a key strategic partner of WEDC.

Connections made on a global trade venture to Germany in 2015 led to the signing of a memorandum of understanding between The Water Council and the German Water Partnership a year later. The Water Council also has agreements with two water-related consortia in France and the Netherlands.

At the same time, the Water Council’s Business. Research. Entrepreneurship. In Wisconsin accelerator (BREW) for water technology companies in Milwaukee has also played a key role in attracting companies from all over the world. At the end of their year-long accelerator experience, many choose to stay at Milwaukee’s Global Water Center (where The BREW resides) permanently.

To strengthen another nascent connection, representatives of The Water Council visited Israel in November 2016 to explore opportunities for collaboration among Israeli water technology startups, Israeli universities and Wisconsin’s water technology cluster. The Water Council offered to provide a “soft landing” for Israeli companies wishing to enter the U.S. market, helping them make connections, get the lay of the land and even find office space in the Global Water Center if desired.

It’s not only the water technology sector that is focused on making international connections. Both the Mid-west Energy Research Consortium (M-WERC) and The Water Council are exploring opportunities in India in hopes that Wisconsin companies can play a part in India’s Smart Cities initiative, a $1.2 trillion plan to develop and redevelop 100 cities, with technology integrated into areas including energy, transportation, public safety and infrastructure. In the years to come, we expect many opportunities to arise in markets such as China and India, where population growth combined with economic growth means they are improving older infrastructure and adding new at a rapid pace to improve living conditions for their population, and we will be working to help Wisconsin companies connect to these opportunities. Already, FaB Wisconsin is making connections in India to see how Wisconsin food and beverage companies can help with the “cold chain” for distribution of products that must stay refrigerated, for example.

SelectUSA: A Valued Partner

SelectUSA has been a key partner in these efforts. Following the 2016 SelectUSA Investment Summit, WEDC partnered with SelectUSA to host a business roundtable and networking reception for companies in Mexico City—which included promising meetings with Mexican industry associations—with particular focus on food processing and manufacturing. In addition, WEDC and SelectUSA partnered to host a similar roundtable in India, with a focus on the manufacturing and pharmaceutical industries.

We are grateful to have benefited from SelectUSA’s connections in these markets, since it can be challenging to identify foreign companies with real projects they seek to deploy in the U.S.

WEDC is dedicated to continuing to nurture these connections between Wisconsin’s industry clusters and their counterparts abroad. We are grateful for the support SelectUSA has provided in these efforts, which are crucial to increasing FDI in Wisconsin and helping those industry clusters reach their full potential.

To stay connected to economic development news in Wisconsin, please visit InWisconsin.com and follow us on Twitter.

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Colorado: Attracting FDI by the Numbers

January 12, 2017

By Dan Lane, Global Business Manager, Colorado Office of Economic Development and International Trade

At the Colorado Office of Economic Development & International Trade (OEDIT), attracting foreign direct investment (FDI) is an important part of our overall mission to create a healthy economy for our state. Foreign companies doing business in Colorado create jobs for our residents, build our state’s international connectivity, and help to fill gaps in our economy.

Looking back, 2016 was another strong year for the State of Colorado in welcoming foreign investment and defining a strategy that truly works.

At OEDIT, we have learned to take a targeted approach to attracting FDI. The world is a big and potentially overwhelming place, and without a targeted strategy driven by data and analytics, we would spend far too much time chasing leads and scrambling for any and all types of investment. A data-driven approach, however, helps us create a win-win situation by providing foreign companies with a prime market opportunity in the United States and simultaneously shoring up some of the gaps in Colorado’s economy.

building

Colorado State Capitol in Denver

OEDIT’s in-house data and analytics team plays a vital role in crafting Colorado’s FDI attraction strategy, examining a wide range of economic indicators from Colorado and around the world to help refine our approach. This team continuously analyzes Colorado’s economy to see where we have gaps in our local industries and supply chains. Earlier this year, our analysts also pored over world economic indicators to identify countries that met two key criteria – strength in industries where we had identified gaps, and robust growth projections over the next year.  By overlaying these data sets, OEDIT was able to craft a strategy targeting companies from fast-growing economies that could fill unique niches in Colorado.

Of course, our strategy plays to Colorado’s strengths as well. Colorado’s attractiveness as an FDI destination was highlighted by several speakers at the 2016 SelectUSA Investment Summit, including Secretary of State John Kerry.  In his remarks, Secretary Kerry highlighted the grand opening of a new $1.3 million global R&D center in Boulder by Envision Energy, a Chinese producer of wind turbines and smart wind farm software.  The Envision Global Blade Innovation Center is expected to create up to 42 jobs for highly-skilled Coloradans – and according to Envision, far and away the most important driver for selecting Colorado was its talented local workforce.

Colorado is becoming the “wind energy capital of America” largely due to its innovative, talented and highly educated population. In fact, Colorado is the second most highly educated state in the nation.  This fact may come as a surprise to people who associate the U.S. coasts with higher education; but for Envision, Colorado’s excellent universities revealed a hidden gem of highly educated local talent. Boulder’s close proximity to the National Renewable Energy Lab (NREL) – the ideal testing ground for Envision’s blade designs – was also a key factor in the company’s choice of this location. In fact, Colorado has the highest density of national labs anywhere in the United States. This is yet another reason why Colorado has a correspondingly high density of engineering talent and attracts companies like Envision.

We at OEDIT are proud of the great strides we have made in attracting foreign direct investment to our state. At the same time, we recognize that there is still work to be done.  While Colorado’s reputation as a business hub is well known domestically, we still need to work hard to boost our recognition on the international level. This is an area where SelectUSA has been particularly helpful to Colorado. First and foremost, the Investment Summit provides an excellent platform for Colorado to compete side by side with coastal states that are better known among foreign business people. SelectUSA also helped Colorado organize and host a group of Chinese CEOs who saw firsthand what a great place Colorado is to do business.  Finally, SelectUSA is renowned for its data-driven approach to FDI, and offers a wide range of resources, including online data tools ranging from an interactive FDI dashboard, to an industry cluster mapping tool, and much, much more!

At OEDIT, we plan to continue taking advantage of the opportunity to partner with SelectUSA and take advantage of the platform that they provide, and we are excited to see what 2017 brings.

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Pennsylvania Offers Experience, Knowledge & Diversity to International Companies

December 29, 2016

Kate Skopp, Director of Global Partnerships & Operations, Pennsylvania Department of Community and Economic Development, Office of International Business Development. 

Companies of all sizes and industries from around the world have been able to find a place in Pennsylvania’s business community and reap the benefits of investing in our diverse market. In fact, our state is home to 6,100 foreign-owned companies – businesses that employ more than 330,000 Pennsylvanians across the state.

Pennsylvania has focused on attracting foreign direct investment (FDI) for over two decades, providing quality assistance to foreign companies looking to establish business operations in our state. With nine representatives around the world covering more than 30 countries, we are committed to identifying and working with companies to break down investment barriers.

team

Certuss participates with Pennsylvania’s Office of International Business Development in the SelectUSA Pavilion, organized by SelectUSA, at Hannover Messe in Hanover, Germany in April 2016. From left: Kate Skopp, PA Office of International Business Development; Holger Deimann, CERTUSS; David Moock, Pennsylvania Authorized Representative office in Germany; Lindsay Helsel, Team Pennsylvania Foundation; Stefan Peikert, Pennsylvania Authorized Representative in Germany.

Over this period of time, we have also learned to listen to what is most important to potential investors.  Pennsylvania’s prime location on the U.S. east coast provides easy access to 60 percent of the U.S. and Canadian populations and is supported by six international airports, 65 operating railroads, three major ports and eight foreign trade zones.  This led companies from around the world to locate or expand in Pennsylvania recently.  Here are a few examples:

  • Continuing its long tradition of business in Pennsylvania, Taiwanese company Foxconn has expanded its R&D presence to approx. 50 employees in Harrisburg.
  • Chinese manufacturer, Taizhou Fuling Plastics, established its first U.S. manufacturing site in Upper Macungie Township, creating 75 new jobs. Fuling is recognized as the leading exporter of plastic tableware and kitchenware in the world.
  • Austrian manufacturer Greiner Packaging established its U.S. headquarters in Pittston, creating 128 new jobs. Greiner produces premium packaging and sustainable items for the food industry.
  • Almac Group, Inc., a global contract pharmaceutical development and manufacturing organization from Northern Ireland, is currently expanding its operations at its existing U.S. headquarters in Montgomery County, doubling its physical presence at its location in Lansdale. The company’s expansion will create 312 new jobs over the next three years.

Today, Pennsylvania’s Department of Community and Economic Development (DCED) houses the Office of International Business Development (OIBD), which is responsible for offering customized services to help international companies looking to locate or expand in our state find the resources they need. OIBD works in collaboration with a team of global investment representatives around the world, regional and local government organizations, industry associations, and many more partners to engage international companies in Pennsylvania’s business community.

One such partner is SelectUSA.  OIBD has partnered with SelectUSA at a number of international events to extend its outreach in targeted markets, capitalizing on these collaborative events to engage international companies in doing business in the Keystone State. This past year, OIBD participated with SelectUSA at three events – Hannover Messe, the SelectUSA Investment Summit in Washington D.C., and SelectUSA Canada in Montreal, Canada. At each of these events, OIBD was able to meet with over 50 interested companies. OIBD and its network of international representatives will continue to participate in upcoming SelectUSA events in Washington D.C., Italy, and India over the next few months.

And these events often lead to tangible successes.

For example, Certuss, a German steam generator manufacturer, first met with OIBD at Hannover Messe 2014 at the SelectUSA pavilion. After several discussions and meetings, the company ultimately made the decision to locate to Pennsylvania to establish its commercial activities for North America.  Today, Certuss is using the resources available from OIBD and other local partners to capture the potential for growing in the U.S. market.

From business diversity to competitive business advantages, we are proud that Pennsylvania provides abundant opportunities for companies from around the world and in all industries to succeed in the United States.  We look forward to what 2017 has in store.

For more information on FDI in Pennsylvania, contact OIBD’s Executive Director for International Investment, Mr. David Briel at: dbriel@pa.gov or 717-720-7373.

 

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SEDC: Taking a Regional Approach to Promoting FDI

December 27, 2016

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

Guest blog post by Gene Stinson, President, Southern Economic Development Council

As the membership association for more than 1,000 economic development professionals across 17 southern states, the Southern Economic Development Council (SEDC) enthusiastically aids its members seeking foreign direct investment (FDI) in their communities. SEDC members include statewide, city, town and county economic development organizations (EDOs) and agencies, representing the vast diversity in geography, transportation infrastructure, workforce assets, municipal incentives and public-private partnerships available in the southern United States.

Building awareness of FDI is central to SEDC’s mission to provide members with the information and resources that help them increase economic development in their communities. However, while many members have succeeded in attracting FDI, others have not had access to the tools and information needed to draw investment. This year, we worked hard on changing that – here’s how.

In April, SEDC launched AmericanSouth.net, an initiative to highlight the many benefits of the region to international investors. The program has a twofold objective: to demonstrate “best FDI attraction practices” to all SEDC members; and to offer direct opportunities for members to develop leads that can bring FDI to their areas.

Today, in concert with our regular newsletter, SEDC News, we provide articles, directions to resources, and other information through AmericanSouth.net. We also plan to take advantage of our location in Atlanta – where several international chambers of commerce and foreign consulates have offices – by hosting an International Site Location Advisors Summit to help members build relationships with these organizations and increase contacts with FDI site location influencers.

Moving forward, we will continue building out the capability of AmericanSouth.net not only to position the region as a top destination for FDI but also to provide an additional way for international companies get in touch with our member EDOs. To help advance the initiative, SEDC is forming an advisory board of international investment specialists from EDOs, SelectUSA, the Organization for International Investment (OFII), site location consulting firms, and more. The board will guide SEDC’s FDI programing and develop educational content for its members.

Throughout our development, SelectUSA has been a valuable partner, particularly in helping us prepare for our first venture to Hannover Messe 2016, the world’s largest industrial technology trade show. Conference calls, connections to international investors, and follow-up personal calls – organized by SelectUSA – maximized our exposure in the Investment Pavilion. AmericanSouth.net made its debut at the pavilion and drew several hundred international business and industry representatives to our booth.   Next year, SEDC will again participate in the SelectUSA Investment Summit in June and join the U.S. delegation to Hannover Messe in April. We are also exploring new opportunities, including the possibility of organizing an AmericanSouth road show with SelectUSA.

SEDC’s development of AmericanSouth.net and our exciting ambitions for 2017 mark a new high point in our association’s efforts on behalf of its members. FDI is an under-explored frontier for many communities and a resource many others can expand upon. We are excited about continuing to position the American South as the global destination of choice for business.

 To learn more about SEDC, please visit www.sedc.org and follow @SEDCouncil on Twitter.  

 

 

 

 

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Putting the “Global” in Global Delaware

December 15, 2016

Emma Pautler is Marketing Director of Global Delaware 

For Global Delaware, 2016 has been an exciting and busy year. We have long known of the critical role foreign direct investment (FDI) plays in our state economy; indeed, FDI in Delaware directly supports more than 28,000 jobs. But sometimes it is just as important to pause and reflect on how it all comes about. 

The First State is known for its business friendly corporate law – and part of our work at Global Delaware is focused on showcasing this – not to mention the economic infrastructure that provides for quick and easy access to markets, our approachable local government. . . (OK, we will spare you the full pitch).

people

Delegates from the Embassy of Spain meet with representatives of Global Delaware and SelectUSA Deputy Investment Services Director David Campbell at SevOne Inc.’s Newark, Delaware campus.

Since January, we’ve hosted delegations from China, France, Germany, Portugal, Spain, and Turkey. In April, we joined the largest-ever U.S. delegation in the USA Pavilion at Hannover Messe 2016; President Barack Obama even stopped by our booth and posed for a picture with a cardboard cutout of a well-known Delawarean – Vice President Joe Biden. In June, the largest startup campus in Europe, Factory Berlin, opened its first U.S. location in Wilmington.  We also attended the 2016 SelectUSA Investment Summit, which led to several new leads – and we’ve been busy hosting, following up and assisting the many business owners we met there. There’s no way we are missing the 2017 Investment Summit next June!

Many people from different sectors and organizations pulled together in order to make this all happen.  Indeed, some of these successes would not have been possible without help from our friends at SelectUSA and the Department of Commerce. Deputy Investment Services Director David Campbell traveled to Delaware to help us welcome delegates from the Spanish Embassy. Investment Specialist Nathan Regan helped us with market research to lock in a French IT company, slated to open their operations in January 2017. The U.S. Consul General in Munich Jennifer Gavito, together with our friend Jana Dorband, kindly supported our many trips to Berlin to finalize details for Factory Berlin’s launch.

A growing challenge (though not necessarily a bad one) for our team has been how not to become victims of our own success.  Delaware IS welcoming and business friendly – but we are also so much more than corporations.  This is why, beyond meeting with delegations and international business owners, we’ve spent a great deal of time developing innovative strategies that create value for international investors looking to bring their business to Delaware.

The most exciting endeavor in this field was the launch of the Delaware Blockchain Initiative. Governor Jack Markell announced the project in May, generating interest around the world. This technology efficiently records financial transactions between parties on a network without the costs and delays associated with intermediaries. We are already working hard with entrepreneurs around the world to develop practical applications.

In short, over the past year, we have forged international partnerships and implemented new strategies that show the world that the First State is open for investment like never before. Given the incredible successes we saw this year, we are excited to see what 2017 holds. Stay tuned by visiting our website and following us on Twitter.