Foreign direct investments overall helps Wisconsin's economy. FDI's create many jobs within Wisconsin. These investments are mostly on the eastern part of Wisconsin, almost every county in the state has some direct foreign investment. In 2016 these foreign direct investments employed over 100,000 Wisconsin citizens.
For example: Fincantieri bought three shipyards in northeastern Wisconsin and has invested more than 100 million to improve their shipyards.
How can Wisconsin make these companies come to Wisconsin? They need to make Wisconsin attractive for these companies specific needs. An article stated that Wisconsin needs to leverage higher education and use global networks to reach potential investors.
SelectUSA has stated that 93,000 jobs are supported by foreign owned affiliates. Wisconsin's top sources of foreign direct investments are from Canada and Germany.
https://www.selectusa.gov/servlet/servlet.FileDownload?file=015t00000004pt1
https://www.jsonline.com/story/opinion/crossroads/2016/08/13/bousquet-ward-foreign-direct-investment-helps-power-states-economy/88692074/
It was cool to see how beneficial FDI is to our state by bringing in so many more jobs. This was something I never really ever thought too much about, and I'm sure a lot of people also did not think much about it either.
ReplyDeleteI did not know that so many jobs were supported by foreign owned affiliates. This is a really great thing for Wisconsin and I hope that more companies will come. I wonder what Wisconsin plans to do to get more foreign investors, whether that be leveraging high education/use of global networks or something else.
ReplyDeleteI agree that bringing jobs to Wisconsin is a good thing. FDI also strengthens our economy and continues to help Wisconsin grow. I am curious to see if there will be any other large companies that will move to Wisconsin in the future.
ReplyDeleteI agree that FDI is beneficial in most cases. Do you think a movement against FDI in the US will happen as the nationalist Trump administration continues to push "keeping American jobs" and strains relationships with other countries?
ReplyDeleteConnor, your question is an important one. On the other hand, Governor Walker, here in Wisconsin, has been a huge proponent of the Foxconn deal.
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