International Companies Continue to Power Job Growth and Manufacturing Across All 50 States
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, followed by Kentucky, Michigan, Delaware and New Jersey.
Kentucky 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, Delaware has experienced the fastest job growth for FDI job creation.
“International companies are making decades-long investments in the United States, and communities in every state are benefiting,” stated Jonathan Samford, president and CEO of GBA. “From manufacturing to workforce development and innovation, these investments support high-quality jobs, strengthen local economies and help position America to remain competitive for decades to come. The data clearly prove that when global companies invest here, American workers and communities succeed.”
Nationwide, international companies employ 8.7 million Americans and pay seven percent higher wages and benefits than the economy-wide average. Over the last five years of data, America’s FDI employment rate increased by 10 percent, while the country’s overall private-sector employment rose by only two percent. International companies support three million manufacturing jobs, accounting for 23 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 – 10.3%
- Kentucky – 9.2%
- Michigan – 9.0%
- Delaware – 8.9%
- New Jersey – 8.5%
States with the Highest Concentration of FDI Manufacturing Jobs (MFG employment as a percentage of total U.S. affiliate employment 2023):
- Kentucky – 64.3%
- Michigan – 63.7%
- Alabama – 56.9%
- Indiana – 56.2%
- Wisconsin – 54.9%
States with the Fastest Growth of FDI Jobs (from 2018-2023)
- Delaware – 46.1%
- Nevada – 32%
- Arkansas – 27.8%
- Montana & Florida – 25%
Find the full analysis at GlobalBusiness.org/In-Your-State.