More companies from around the world are investing in the United States than in any other nation.
The Swedish tech company Ericsson, for example, plans to build in the U.S. its first fully automated smart factory to produce 5G-network equipment.
Meanwhile, an Italian automated-storage manufacturing company, Modula, recently chose to build a factory in Ohio because of the talented workforce there.
#DYK Foreign Direct Investment from Ireland supports more than 263,000 U.S. jobs and is the 5th largest source of #FDI in the United States? #StPatricksDay @SelectUSA https://t.co/qUWvgfKLeb pic.twitter.com/gl8Sp5MNkz
— U.S. Commerce Dept. (@CommerceGov) March 15, 2019
“Nowhere else but in the United States will you find such an advantageous mixture of innovation, entrepreneurship, diversity, dedication to hard work, and an incredibly high quality of life,” U.S. Secretary of Commerce Wilbur Ross said in June.
The U.S. Department of Commerce reports that foreign direct investment in the U.S. increased nearly 9 per cent in 2018 from the year before.
By the end of 2018, the U.S. held more than $4.3 trillion in foreign direct investment.
The U.S. appeal
The strong U.S. economy, fair and transparent laws, the world’s largest consumer market, and a talented workforce are just some of the reasons drawing international businesses to the U.S.
“We are willing to invest in the rich, dynamic and skilled human capital of this region, who are able to work in an Industry 4.0 advanced environment,” Franco Stefani, board chair of Modula, said in June when the Italian company announced it would locate a factory and logistics hub in the Cincinnati area.
Foreign investment directly supports more than 7 million jobs in the U.S.
Ericsson predicts that nearly half of all mobile phone subscriptions in the U.S. will be connected to 5G by the year 2023. “We are strengthening our investment in the U.S. to be even closer to our customers and meet their accelerated 5G deployment plans,” Börje Ekholm, head of Ericsson, said in a 2018 press release.