Monday, April 2, 2018
Why Wisconsin? A look at foreign companies expanding and investing in Wisconsin
As a home-grown Wisconsinite, I have always been very proud of my home, which to me is Wisconsin itself. Up until this semester, I have never thought of the different global companies that call Wisconsin their home as well. Even though their headquarters may not be in Wisconsin, they saw the growth potential in Wisconsin and settled on bringing their company to the state. One company that recently decided this move was IKEA, who is building a store in Oak Creek near Milwaukee. They are the next to be added to the list of FDI companies in Wisconsin which totals 880 companies. These 880 companies employ almost 100,000 people throughout the state. A foreign company is almost in every county in the state.
But why do they invest here instead of a larger state and economy, like New York or California? The beauty of Wisconsin is in the littler and more special things. For example, an Italian shipyard company has invested $100 million in improving their shipyards in the cities of Green Bay, Marinette, and Sturgeon Bay. This company also brings technology to the shipyards and has grown employment in these areas. Shipping across the great lakes is still a big industry so it is nice to see a foreign company investing in us so they can gain profit from this also.
Wisconsin has much to do to grow their FDI, but a way we can help is to reach out and network with foreign companies to help convince them to see the advantages of investing in the great state of Wisconsin.
https://www.jsonline.com/story/opinion/crossroads/2016/08/13/bousquet-ward-foreign-direct-investment-helps-power-states-economy/88692074/
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Matt, I liked this post a lot because it has to deal with the local economy that we are a part of here in Wisconsin. Wisconsin is not to be overlooked as you highlighted in your post because with the improvements in the shipyards, it has potential to become a place where many goods can be produced due to the large population density in that area of the state. Increasing the way that goods are moved is crucial to growing the economy in that part of the state.
ReplyDeleteWisconsin's ability to compete globally and foster its own internal growth at the same time is heightened significantly by its access to inland ports and waterways!
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