Dallas and Plano Among Top 20 US Cities for Foreign Business Investment » Dallas Innovates
The Financial Times and Nikkei released their inaugural “Investing in America” report – and three North Texas cities emerged as gangbusters. The report ranks the best cities in the United States where foreign multinationals can do business.
dallas (#6) and Plan (No. 13) both rank in the top 20 cities overall, in data points ranging from workforce and talent to openness, business environment, needs of foreign companies, quality of life, investment trends and monitoring.
Looking only at manpower and talent, Plan appears all the way to the top – ranking #1 nationwide and edging out Austin, San Francisco and Seattle, respectively.
dallas and Irving both are also in the Top 20 for Labor and Talent, ranking No. 19 and No. 20.
Irving ranks high in other key data points
Irving scores well in the report on three other key data points, including Openness (#3), Quality of Life (#10), and Tracking (#8).
Aftercare means the administrative support cities provide to foreign companies after they have invested, and Dallas also performed well on this measure, ranking No. 3.
You can browse the interactive rankings yourself to see the impact of the measures on cities by going here.
DFW is looking for foreign investment
Just two weeks ago, EDC executives from across North Texas traveled to London, Paris and Frankfurt, Germany on a trade mission to sell major European business centers in Texas.
They accompanied Texas First Lady Cecilia Abbott; Secretary of State John Scott; TxEDC President and CEO Robert Allen; Adriana Cruz, Executive Director of TED&T; and other Texas business leaders on the trip sponsored by TxEDC, the “private side” of a public-private partnership with Governor Greg Abbott’s Office of Texas Economic Development & Tourism.
And in 2018, Capital One Financial Services President Sanjiv Yajnik and Nextt CEO Arun Agarwal traveled with Governor Greg Abbott on a trade mission to India, co-chairing the visit. Yajnik told Dallas Innovates the purpose of the trip was “to meet with the Prime Minister to connect with key business people in India with the goal of bringing business back to Texas. And we succeeded. »
Other findings from the FT-Nikkei report
Miami came in first in the FT-Nikkei report on America’s best cities for foreign business, followed by Orlando, New York, Boston, Houston and Dallas.
Japan is the largest source of direct financial investment in the United States, followed by Germany, Canada, the United Kingdom, South Korea and China, the report noted.
About half of Japanese investment has been in the manufacturing sector, the report says. You can see that impact right here in the region: Toyota’s North American headquarters are in Plano.
This helps explain why Plano came in at #1 in the report in the workforce and talent category.
“Every site we pay for, we want to make sure it succeeds,” Tim Ignle, chief financial officer of Toyota Motor North America, told the FInancial Times. “And that success starts with its workforce.”
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