States across America are recognizing the importance of international companies on local communities. When an international company sets up shop, it’s a vote of confidence in U.S. workers. International companies provide 7.4 million high-quality jobs, increasing employment rates and average wages across the country.
Here are the five states that top the list for fastest FDI job growth, according to the latest BEA data:
Florida and Kentucky tied for first with a 46 percent growth rate over the past five years. The growth of jobs in these states is double the national FDI employment growth rate and quadruple the national growth rate for private-sector employment.
In Florida, B. Braun Medical Inc. invested $150 million at its assembly plant in Daytona Beach and added an additional 100 jobs, brining its total workforce to 240. And in Walton, Kentucky, Safran Landing Systems has invested in five expansions since its opening in 1999, currently employing over 350 workers.
Ranking in third, Missouri’s FDI employment rate has increased by 43 percent in the past five years. Bayer AG is an example of an international company that helped accelerate Missouri’s job growth with its $164 million investment that added 500 jobs to its Creve Coeur, Missouri, campus.
Tennessee and Michigan tie for fourth place for the fastest growing FDI employment rates in the country. International companies have increased employment in both states by 41 percent within this five-year span.
Nissan of North America invested $170 million to support manufacturing at two of its plants including one in Smyrna, Tennessee, which is the highest-producing auto assembly center in North America. At the beginning of last year, Waupaca Foundry, a Hitachi Metals subsidiary, opened a manufacturing center in Ironwood, Michigan, which amounts to a $4.3 million investment and adds more than 60 new jobs in the state.