Are You Informed About Florida’s Foreign Direct Investment Potential?
Foreign direct investment (FDI) and exporting are essential components of a local economic development strategy. According to the 2017 World Investment Report: Investment and the Digital Economy, global FDI is expected to rise by five percent, to almost 1.8 trillion in 2017. The United States, China and India have, and continue to be the top prospective destinations for FDI. The Florida Chamber’s most recent Florida Direct Investment Report found that Florida’s FDI almost doubled year over year.recent.
In the 2017 A.T. Kearney Foreign Direct Investment Confidence Index, it was noted that “an overwhelming 75 percent of investors plan to increase their FDI in the coming three years. Although this intention to increase FDI is consistent across both regions and sectors, investors based in Asia (79 percent) and those in the IT sector (83 percent) are particularly keen to boost their level of FDI.”
What is Your Community’s Strategy for Attracting FDI?
Please join the Florida Chamber for our next Global Florida webinar on Tuesday, September 5, at 3:00 p.m., and learn why Florida is considered by many to be the ideal state for companies to invest in. Register today!
European Nations Lead Investments in Florida’s Global Economy
FOR IMMEDIATE RELEASE
CONTACT: Edie Ousley, 850-521-1231 or 850-251-6261
Companies from Europe Account for 67% of all Florida
Foreign Employment and 17% of Florida Origin Exports
TALLAHASSEE, FL. (May 27, 2015) – European countries are the leaders among foreign investors, with majority foreign-owned companies from Europe accounting for 67 percent of all Foreign Direct Investment (FDI) employment in Florida, the Florida Chamber of Commerce announced today.
“Florida’s leading European investors include the UK, Germany, France, Switzerland and the Netherlands. Europe presents unique strategic, trade and export opportunities for Florida,” said Alice Ancona, Director of Global Outreach for the Florida Chamber of Commerce. “Currently, 17 percent of all Florida origin exports go to Europe, a market of over 500 million consumers. The U.S. and Europe represent half of the world’s economic production. Opening markets and creating jobs for Florida families are why trade is important to Florida.”
Florida visitors from Europe also help strengthen Florida’s economy and create jobs. In fact, every 85 visitors that come to Florida help create one new Florida job. Out of the top international countries for visitation to Florida, the UK ranked third, behind Canada and Brazil, with 1.6 million visitors in 2014.
The impact of international trade to Florida’s economy cannot be denied.
- International business and foreign direct investment accounts for approximately 17 percent of Florida’s economic activity, and
- Directly supports more than 1 million Florida jobs.
- Florida is the seventh largest exporter of state-origin products with Florida-origin exports totaling more than $58.6 billion and exports from Florida supporting 275,221 U.S. jobs in 2013.
But Florida’s business leaders know that Florida must continue to work hard to remain the leader in international initiatives.
“Florida has come a long way in building international economic development efforts, but our work is far from over,” said Doug Davidson, Market Executive of Global Commercial Banking at Bank of America Merrill Lynch. “At Bank of America, we support the Florida Chamber Foundation’s research in trade and logistics because we know that Florida’s future lies in being globally competitive.”
The Florida Chamber’s Global Florida Program’s mission is to educate and promote business opportunities, collaborate and advance policy initiatives in each of the four major geographic regions: Americas, Asia Pacific, Europe and Middle East/Africa. Agriculture Commissioner Adam Putnam recently sponsored the Florida World Trade Month resolution, which was signed by Governor Scott, Attorney General Pam Bondi and CFO Jeff Atwater.
The Florida Chamber of Commerce is the voice of business and the state’s largest federation of employers, chambers of commerce and associations, aggressively representing small and large businesses from every industry and every region. The Florida Chamber works within all branches of government to affect those changes set forth in the annual Florida Business Agenda, and which are seen as critical to secure Florida’s future. The Florida Chamber works closely with its Political Operations and the Florida Chamber Foundation. Visit www.FloridaChamber.com for more information.