WASHINGTON – The Global Business Alliance (GBA) has released its latest state-by-state factsheets and national trends analysis, which examines the economic impacts and job creation of inbound foreign direct investment (FDI) in all 50 states.
According to the latest BEA data, South Carolina and Hawaii are the country’s leading states with the largest concentration of jobs created by international companies, closely followed by Michigan, New Hampshire and Kentucky.
Michigan leads the nation with the highest percentage of FDI jobs in the manufacturing sector, accounting for 64 percent of the state’s FDI jobs.
Over a five-year time period, Minnesota has been the fastest-growing state for FDI job creation.
“Local communities across the country benefit when international companies decide to invest and create jobs in America,” said Nancy McLernon, president & CEO of GBA. “Global investment strengthens America’s economy and makes it more resilient by fueling innovation, bolstering America’s manufacturing sector, exporting American-made goods and creating millions of high-quality, good-paying jobs.”
Nationwide, international companies employ 7.9 million Americans and pay 10 percent higher wages and benefits than the economy-wide average. From 2015-2020, America’s FDI employment rate increased by 15 percent, while the country’s overall private-sector employment remained flat. In fact, international companies created nearly 400,000 new manufacturing jobs while, sadly, the U.S. overall lost 223,000 over that same period.
Some key highlights from the new state-by-state analysis:
States with the Largest Concentration of FDI Jobs (as a percentage of total private-sector employment):
- South Carolina & Hawaii – 9.4%
- Michigan – 9.1%
- New Hampshire – 9.0%
- Kentucky – 8.9%
States with the Highest Concentration of FDI Manufacturing Jobs (MFG employment as a percentage of total U.S. affiliate employment 2020):
- Michigan – 63.9%
- Kentucky – 62.5%
- Arkansas – 61.4%
- Wisconsin – 57.7%
- South Dakota – 57.5%
States with the Highest Growth of FDI Jobs (from 2015-2020)
- Minnesota – 40.2% increase
- Montana – 39.7% increase
- Vermont – 38.2% increase
- Wisconsin – 35.5% increase
- Missouri – 31.3% increase
Find the full analysis at GlobalBusiness.org/In-Your-State.
About the Global Business Alliance
As the premier voice of international companies in the United States, the Global Business Alliance (GBA) actively promotes and defends an open economy that welcomes international companies to invest in America. Our members are American companies with global heritage and an indispensable part of our nation’s economic success. When America is open for business, we all benefit. Learn more about how international companies are benefiting U.S. workers and communities by visiting www.globalbusiness.org.