German-Based Siemens and Chromalloy (US) Invest in New Joint Venture
German-based Siemens and Chromalloy announced their joint venture in Tampa, FL.
Insourcing, or foreign direct investment in the United States (FDIUS), bolsters U.S. manufacturing. Foreign-owned manufacturers, with nearly 1,800 affiliates in the United States in 2014, employ millions of Americans in high-paying jobs. Because supplier companies often locate nearby to furnish manufacturers with materials, component parts, and various support services, foreign investment in manufacturing provides significant employment spillovers. Economists estimate for each manufacturing job, two to five additional jobs are created elsewhere in the economy. Read more here.