Texas Led Nation In FDI, Employment In 2020
6 Aug 2021
Foreign investors continued to be interested in acquiring, starting and expanding businesses in the United States despite the COVID-19 pandemic, and Texas led the nation in FDI in 2020, according to a July 1 report by the U.S. Bureau of Economic Analysis.
By U.S. state, Texas received the largest investment, with expenditures of $18.6 billion, followed by California ($17.8 billion) and New Jersey ($14.1 billion). By U.S. state, Texas also had the largest employment by newly acquired, expanded or established foreign-owned businesses (between 50,000 and 100,000), followed by California (21,000) and Arizona (9,300).
“That Texas led the nation in FDI is good news, especially in light of the pandemic and its global economic impact,” said Robert Allen, President and CEO of the Texas Economic Development Corporation (TxEDC). “The data shows that even during periods of economic uncertainty, business decision-makers around the world trust that Texas is always a great investment.”