FDI Is Rising - Helping US Communites Do the Same
In case you missed it, the U.S. Bureau of Economic Analysis yesterday released its preliminary first quarter 2015 FDI data.
OFII has summarized the findings in a new report. Highlights include:
FDI in the United States totaled $192 billion in the first quarter of 2015, jumping 267 percent from the previous quarter.
FDI flows in Q1 of 2015 are the strongest on record. More than $140 billion in equity flows made up the majority of this investment.
Be mindful, preliminary figures are subject to large revisions and can fluctuate greatly from quarter to quarter. Learn more about FDI trends here.
Beyond the macroeconomic trends, I want to draw your attention to the work of two India-based insourcing companies that are making extraordinary impacts in their communities. Both Tata and Wipro are making valuable investments in the next generation of U.S. workers through education and skills training.
Tata Chemicals' new ventilation expansion in Wyoming is an example of how FDI is supporting U.S. workers in rural states. The new ventilation shaft is part of Tata's $26 million investment in expanding its infrastructure, which includes emissions reducing technology. These investments in the Green River Plant will extend the life of the facility and continue to support hundreds of good-paying jobs. Along with the University of Wyoming, Tata promotes science and technology training for future U.S. workers and offers valuable science and technology internships.
Wipro is investing in teachers through its Science Education Fellowship. Its partnership with the University of Massachusetts Boston, Mercy College and Montclair State University has created a two-year program that offers $10,000 to fellows who commit to teaching science education. A total of 180 fellows will participate in the Wipro Fellowship, making positive change in 15 school districts across New York, New Jersey and Massachusetts.
Have a great weekend!