South Carolina Leads Nation in Largest Concentration of FDI Jobs; Michigan Holds Highest Concentration of FDI Manufacturing Jobs; Wyoming Sees Fastest FDI Job Growth
WASHINGTON, D.C. – 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 ranks first in the country with the largest concentration of FDI jobs, closely followed by Delaware, Kentucky, Michigan and New Hampshire.
Michigan has the highest percentage of FDI jobs in the manufacturing sector, accounting for 64 percent of the state’s FDI jobs.
Over the past five years, Wyoming has experienced the fastest job growth for FDI job creation.
“Thanks to the investments from international companies, states and local communities across the country have become more economically resilient,” stated Jonathan Samford, president and CEO of GBA. “Global investment is an engine that fosters America’s prosperity, innovation and global competitiveness. When international companies deliberately decide to invest in the U.S., it is a vote of confidence in the American workforce.”
Nationwide, international companies employ 8.4 million Americans and pay seven percent higher wages and benefits than the economy-wide average. From 2017-2022, America’s FDI employment rate increased by nine percent, while the country’s overall private-sector employment increased by five percent. International companies support 2.9 million manufacturing jobs, accounting for 22 percent of total U.S. manufacturing employment.
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 – 9.8%
- Delaware – 9.0%
- Kentucky – 8.8%
- Michigan & New Hampshire – 8.6%
States with the Highest Concentration of FDI Manufacturing Jobs (MFG employment as a percentage of total U.S. affiliate employment 2022):
- Michigan – 63.6%
- Kentucky – 62.9%
- Alabama – 57.1%
- Wisconsin – 55.8%
- Indiana – 54.9%
States with the Fastest Growth of FDI Jobs (from 2017-2022)
- Wyoming – 56.2%
- Vermont – 37.7&
- Delaware – 37.6%
- Rhode Island – 29.9%
- Mississippi – 26.1%
Find the full analysis at GlobalBusiness.org/In-Your-State.