FDI in the United States, Fourth Quarter 2017
Foreign direct investment totaled nearly $60 billion in the fourth-quarter 2017, an eight percent decrease from third-quarter 2017.
CLAYTON, NC – Governor Roy Cooper made history today by signing North Carolina’s first Open Investment Policy Proclamation at Novo Nordisk’s manufacturing facility in Clayton. The governor’s proclamation acknowledges the importance of cross-border investment for North Carolina’s economy and commits the state to treating foreign employers in a fair and equitable manner.
“Governor Cooper is the first governor in North Carolina’s history to issue an Open Investment Policy Proclamation,” said Nancy McLernon, president and CEO of the Organization for International Investment (OFII). “This proclamation serves as a powerful signal to potential employers around the globe that North Carolina is open for business and will welcome them as an equal and important part of the community. Our member companies appreciate Governor Cooper’s leadership in working to ensure North Carolina’s success in the global economy.”
In signing the Open Investment Policy Proclamation, Governor Cooper highlighted the potential for job growth in North Carolina from welcoming global investment.
“More than 240,000 North Carolina jobs exist thanks to international companies investing here,” Gov. Cooper said. “We welcome global companies to put down roots in North Carolina and grow with us.”
Foreign-based companies like Credit Suisse, Food Lion and Daimler employ 242,700 North Carolinians – a 30 percent increase in the past five years. More than half of these jobs are in the manufacturing sector. According to OFII, these globally-connected jobs provide compensation that is almost 40 percent higher than the state’s private-sector average.
Today’s event was held at Novo Nordisk’s site in Clayton. Novo Nordisk has operated in Clayton for nearly 25 years and is excited to welcome its 1,000th employee next week. Novo Nordisk is currently investing $2 billion in a new diabetes Active Pharmaceutical Ingredients (API) plant in Clayton, NC. Once fully operational in 2020, the new site will bring about 700 new jobs – nearly doubling Novo Nordisk’s workforce in Johnston County – with up to 2,500 people working on the project at peak construction. This site is the first time that diabetes API will be manufactured outside of the company’s home country of Denmark.
“The choice of Clayton for global API production fits nicely within Novo Nordisk’s strategic planning for future manufacturing capacity, just as the choice of Clayton in the early 1990s was for Diabetes Finished Product production – a choice that has worked well for not only Novo Nordisk, but also for Clayton, Johnston County, North Carolina and the United States,” says Chad Henry, corporate vice president of Novo Nordisk DFP. “We’re honored to partner with OFII and Governor Cooper to help showcase the positive impact that foreign direct investment can have on our community and the country.”
For the past 40 years, U.S. presidents from both political parties have issued Open Investment Policy statements, which acknowledge the importance of cross-border investment for improving the U.S. economy. According to OFII, Governor Cooper is the fifth governor to issue an Open Investment Policy statement and the first to issue one in North Carolina.