New York is the top-ranked state for Foreign Direct Investment measured in capital investment and California leads the field in FDI measured in projects in Business Facilities’ 12th Annual Rankings Report.
The Empire State drew a 13 percent share of all of the Foreign Direct Investment flowing in to North America in 2015, with $8.8 billion in capital investment coming to New York, according to data from fDi Intelligence. Texas earned second place in the capital investment inflow sweepstakes, garnering an 11 percent share of the North American FDI influx with $7.5 billion in investments; Florida was no. 3, with an eight percent share and $5.2 billion in investments.
California remains the primary North American destination for FDI when measured in projects; the Golden State drew 230 new FDI projects in 2015. The top five in FDI projects included New York (182), Texas (147), Ontario (109) and Florida (80).
“With a strong and stable economy and the world’s safest financial system, the United States is the prime global destination for FDI,” BF Editor in Chief Jack Rogers said. “Becoming a magnet for FDI should be a top priority of every state’s economic development effort.”
SelectUSA, which operates under the umbrella of U.S. Commerce’s International Trade Administration (ITA), serves as the single point of contact for foreign investors and coordinating with related federal agencies. SelectUSA has led an aggressive push to attract Foreign Direct Investment to every region of the U.S. In the first two quarters of 2016, SelectUSA clients announced 67 projects totaling $2.6 billion that are expected to create more than 5,400 jobs in the United States.
Business Facilities is a national publication that has been the leading location source for corporate site selectors and economic development professionals for more than four decades.
The complete 2016 BF Rankings Report, including state, metro and international results, is available here.