[Video] Why Businesses are Choosing the U.S. - The Auto Industry Eyes the Southeast
Dec 13, 2019
The United States is the world’s largest recipient of foreign direct investment (FDI). Despite recent trade friction, the U.S. market is continuing to see a positive trend in FDI. To promote the American market to foreign entities, the U.S. Department of Commerce hosted the SelectUSA Investment Summit in Washington, D.C. earlier this year, bringing together delegates and investors for 79 countries around the world and showcasing the U.S. market to attendees curious about expanding stateside. Nearly all U.S. states set up booths where they tried to promote their respective regions to foreign investors.
Of the different regions in the U.S., the Southeast is showing great promise as a major target for FDI, largely due to its role as an attractive new destination for the automotive industry. In Alabama, Japanese automakers are now building new factories there due to the relatively low labor cost, production cost, and cost of living.
In the neighboring state of Georgia, well-developed logistics make this state incredibly lucrative to foreign entities. With the world’s busiest passenger airport and one of America’s top ports, access to this Southeast state is easy and convenient. Georgia also has numerous incentive programs in place, such as educational programs for local personnel, funded by the state.
How do Japanese companies that have already expanded into the Southeast and those considering expanding there feel about the local investment environment? JETRO Global Eye interviewed several companies on their impressions.
For more information on the Southeast region, check out the JETRO Atlanta Office Newsletter.