German-Based Siemens and Chromalloy (US) Invest in New Joint Venture
German-based Siemens and Chromalloy announced their joint venture in Tampa, FL.
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.
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."
Read more about Pennsylvania’s Office of International Business Development's role at the SelectUSA Investment Summit.