LONDON, Dec. 16, 2010 /PRNewswire/ -- fDi Intelligence, the global authority on corporate expansion and investment flows, released a report and ranking which compares all 50 U.S. States and the success they have had in attracting inward investment before the Credit Crunch and after.
The report measures U.S. economic performance related to the attraction of foreign direct investment and interstate investment, comparing the 21 months before the start of the 2008 Credit Crunch to the 21 months since it began. Despite the global economic slow-down, the report indicates that inward investment continues to be bullish. Year-to-date data for 2010 investment flows remains positive and figures indicate 2010 will most likely exceed 2009.
Since October 2008, U.S. states have attracted over 6,091 investment projects (data includes interstate investment), which have created an estimated 660,710 jobs and $338.7bn in capital investment. Compared to the period between January 2007 and September 2008, these figures represent a 58 per cent increase in the number of projects and a 29 per cent increase in job creation figures.
"Of course, 2010's numbers make me feel good about the direction we're taking in terms of attracting FDI," said Aaron Brickman, Director of Invest in America, "Individual American states compete on a global stage, often against nations, and must be creative in their approach to FDI. Ultimately, new jobs stemming from new projects speak louder than any competition, and I am confident the United States will do well as the 'Great Recession' recedes from view."
Despite the increase in the number of investment projects, the economic slow-down has taken its toll on the construct of the projects. fDi Intelligence data shows that in the 21 months since October 2008, the average capital investment per project fell $16.4mn and the average number of jobs per project fell by 25 employees.
When comparing the performance of the 50 states during the 21 month time period before the mark of the crisis and after, California took top spot for the biggest nominal increases followed by Texas, Florida, New York, and Ohio. North Carolina was ranked sixth, Georgia seventh, Indiana eighth, Colorado ninth, and Pennsylvania rounded out the top ten in tenth place.
The results of the report were published in the December/January issue of fDi Magazine as well as on the fDi Intelligence website: www.fdiintelligence.com.
For questions regarding the report and its findings, please contact Courtney Fingar at Courtney.firstname.lastname@example.org.
For information about fDi Intelligence in the U.S. market, please contact Chris Knight at Chris.knight@FT.com or 011 44 207 775 6718.
About fDi Intelligence
fDi Intelligence is a specialist Division from the Financial Times Ltd established to provide industry leading insight into globalization with a portfolio of world-class products, services and business tools that allow both companies and economic development organizations alike to make informed decisions regarding foreign direct investment.
fDi Magazine – World's leading corporate expansion and inward investment title.
fDi Benchmark – The only online corporate location and benchmarking tool with a comparable and independent assessment of worldwide locations.
fDi Markets – The authoritative cross border inward investment database and investor tracking tool and the exclusive source of FDI project data for the UNCTAD World Investment Report and the Economist Intelligence Unit.
SOURCE fDi Intelligence