New Data Detail State-by-State Job Impacts of Global Investment
South Carolina, New Hampshire, New Jersey Boast Highest Share of Jobs from Foreign Direct Investment; Minnesota Leads in Fastest Growth
WASHINGTON – New analysis released today by the Global Business Alliance (GBA) examines the impacts of inbound foreign direct investment (FDI) on U.S. job creation in all 50 states.
In the manufacturing sector, California leads all U.S. states with more than 236,000 workers employed in manufacturing roles by foreign headquartered companies.
As a share of total private sector employment, South Carolina leads the nation in its percentage of jobs created by inbound FDI, followed closely by New Hampshire, New Jersey, Michigan, and Kentucky.
Minnesota has seen its FDI-fueled workforce grow the fastest of any state over the past five years.
Nationwide, foreign-headquartered companies invested $164 billion in the United States last year. These global companies employ nearly eight million American workers, paying 18% higher wages and benefits than the U.S. private-sector average. Incredibly, 69% of all new manufacturing jobs in the U.S. over the past five years were created by global companies.
“The numbers show clearly that global investment is like rocket fuel for America’s manufacturing revival,” said Nancy McLernon, president & CEO of the Global Business Alliance. “This isn’t a red state phenomenon or a blue state phenomenon: global companies are investing in local communities all over the U.S., creating good-paying jobs. Encouraging and accelerating this investment is one of the keys to a strong, sustainable recovery.”
Analysis of FDI impacts on all 50 states are available on GBA’s website at: https://globalbusiness.org/in-your-state.
Highlights include:
States with the Most FDI-Created Manufacturing Jobs:
#1: California – 236,900 jobs
#2: Texas – 204,000 jobs
#3: Michigan – 202,300 jobs
#4: Ohio – 158,100 jobs
#5: Illinois – 140,700 jobs
States with the Biggest Concentration of FDI Jobs (as a percentage of total private sector employment):
#1: South Carolina – 8.9%
#2: New Hampshire – 8.4%
#3: New Jersey – 8.2%
#4: Michigan – 8.2%
#5: Kentucky – 8.2%
States with the Fastest Growth in FDI-Created Jobs (from 2016 to 2020):
#1: Minnesota – 46.3% increase
#2: Tennessee – 33.4% increase
#3: Utah – 33.3% increase
#4: Michigan – 33.0% increase
#5: Kansas – 32.8% increase
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.