Open Investment Policy Statements
Keeping America Globally Competitive
With U.S. subsidiaries of global companies employing 6.8 million Americans and competition for FDI at an all time high, it's vital that the United States remain open to global employers. To help ensure inbound companies remain confident in the U.S. economy, governors have started issuing Open Investment Policy Statements (OIPS), reaffirming that global companies are a valuable part of their state's economy. Learn more about the states that are leading the way in welcoming global investment:
FT: State Governors Vie To Reassure Foreign Investors
by: Shawn Donnan in Washington. August 24, 2017
“I’m a firm believer in economic globalisation,” Mr Sununu added. “That is where the 21st century is going to take us.”
Mr Sununu earlier this year became the first governor to sign an “open for investment” pledge aimed at reassuring foreign investors. He has spent a significant amount of time courting international companies considering investments in the state, the southern portion of which sits in booming Boston’s commuter belt.
Other Republican governors have signed the investment pledge while openly fretting about the uncertainty caused by Mr Trump’s protectionist threats. The pledge is part of a campaign mounted by the Organisation for International Investment, a lobby group for foreign companies operating in the US.
“Governors are realising they need to step out and provide some certainty to the global business community,” said Nancy McLernon, OFII’s president. “The anti-globalisation rhetoric is problematic for companies trying to understand where their investment is best welcomed.”
Signing the pledge at a L’Oréal factory last month, Asa Hutchinson, Republican governor of Arkansas, told reporters he wanted to reassure foreign companies in his state.
“They’re nervous about what the future of national policy on trade is going to be,” he said. “Are we going to set up tariffs? Are we going to continue with an open trading policy and an emphasis on global trade? I continually want to give that assurance to them, that Arkansas is open for business, that we welcome foreign investment.”
Arkansas's OIPS event was held at L’Oréal USA’s manufacturing and distribution facility in North Little Rock. "Arkansas's economy and workers have benefited from foreign direct investment as we are a national leader in FDI job growth,” said Governor Hutchinson. “Today's proclamation will help expand Arkansas' brand to employers around the world. L'Oréal has become part of our community and provides an example of the manufacturing jobs in which our state excels." Read more.
View Arkansas's FDI fact page here.
KARK Coverage of Governor Hutchinson's Open Investment Policy Statement. July 18, 2017
(Video) KTHV: Governor Hails Foreign Investment. July18, 2017.
(Video) KFTA (Fox): Open Investment Policy. July 18, 2017.
AP: Arkansas governor touts global investment in state. July 18, 2017.
ADG: Governor hails foreign investment. July 19, 2017.
View Arkansas's official Open Investment Policy Statement here.
Governor Bevin spoke at the 2017 SelectUSA Investment Summit in Washington, DC, welcoming global companies to invest in Kentucky. “Business expansion in Kentucky is on a roll and internationally owned companies – which already employ more than 105,000 Kentuckians – and domestic businesses alike, are taking notice.” Read more.
View Kentucky's FDI fact page here.
U.S. Department of Commerce: A Dialogue with U.S. Governors on U.S. Investment Policy. June 26, 2017
View Governor Bevin's statement at the 2017 SelectUSA Summit here.
During remarks at Shell Chemicals' Geismar, LA plant, Governor Edwards highlighted the great contributions that global investment has made in Louisiana. "FDI operations — from Shell and BASF, to Shintech and Sasol, to Benteler and Dyno Nobel — have pumped many billions of dollars in capital projects alone into our economy in recent years. They are among the 500 foreign-owned companies operating in Louisiana that are directly responsible for 74,300 jobs in our state. In an era of increasing globalization, it’s essential for us to show leadership and support of foreign direct investment in Louisiana in a positive, open and fair manner.” Read more.
View Louisiana's FDI fact page here.
WAFB Coverage of John Bel Edwards Signing LA's Open Investment Policy Statement. November 4, 2017
Business Report: Edwards: Louisiana benefits from foreign investment. November 3, 2017.
Weekly Citizen: Gov. Edwards visits Shell Geismar. November 6, 2017.
(Video) WVLA Coverage of John Bel Edwards Signing LA's Open Investment Policy Statement. November 4, 2017.
(Video) WGMB Coverage of John Bel Edwards Signing LA's Open Investment Policy Statement. November 4, 2017.
View Louisiana's official Open Investment Policy Statement here.
After touring BASF's impressive site in Wyandotte, MI, Governor Snyder issued the state's first ever Open Investment Policy statement. “By signing this open investment policy, we have the chance to ensure that foreign businesses can continue to invest in our great state. That will ultimately help create new and better jobs for Michiganders as we continue on the path toward our future.” Read more.
View Michigan's FDI fact page here.
View Michigan's official Open Investment Policy Statement here.
Governor Sununu visited biolotechnology company Novo Nordisk's West Lebanon plant to issue New Hampshire's OIPS. "New Hampshire is a great state for foreign companies to invest and operate businesses in, but practically none of them know it." That is the belief of New Hampshire Gov. Chris Sununu, who made his first major trip as governor to West Lebanon on Wednesday to declare before an audience of employees at Danish drugmaker Novo Nordisk that when it comes to the state’s hospitable environment for business, “we got a great message and we got to push it.” Read more.
View New Hampshire's FDI fact page here.
WPTZ: New Channel 5: Governor Sununu Signs Nation's First State-Level Open Investment Policy Statement. June 15, 2017
View New Hampshire's official Open Investment Policy Statement here.
Governor Roy Cooper visited Novo Nordisk's manufacturing facility in Clayton, North Carolina to issue the state's first Open Investment Policy Statement. In signing the Open Investment Policy Proclamation, Governor Cooper highlighted the potential for job growth in North Carolina from welcoming global investment. “More than 240,000 North Carolina jobs exist thanks to international companies investing here,” Gov. Cooper said. “We welcome global companies to put down roots in North Carolina and grow with us.” Read more.
View North Carolina's FDI fact page here.
WNCT 9 Coverage of Governor Cooper Issuing NC's Open Investment Policy Proclamation. July 27, 2017
WRAL Coverage of Governor Cooper Issuing NC's Open Investment Policy Proclamation. July 27, 2017
View North Carolina's official Open Investment Policy Statement here.
Governor Wolf’s proclamation was given before hundreds of foreign-based firms, economic developers and U.S. government officials at the 2017 SelectUSA Investment Summit in Washington, DC. "Governor Tom Wolf just made Keystone State history by issuing an open investment policy statement, a clear sign to inbound investors that Pennsylvania wants to help them succeed. More than 334,000 Pennsylvanians, including more than 186,000 in the manufacturing sector, earn their living from a foreign-based company that operates in the state. These jobs offer compensation that is more than 43 percent higher than the Commonwealth’s private-sector average. Governor Wolf’s proclamation underscores how he is positioning Pennsylvania workers and communities to succeed in the global economy. It is also a signal to global companies that Pennsylvania is open for business."
View Pennsylvania's official Open Investment Policy Statement here.