Indiana leads the nation in attracting new jobs through foreign investment for the second consecutive year, according to the latest annual Global Location Trends report released October 22 by IBM Global Business Services.
Released during an annual meeting of the International Economic Development Council in Atlanta, the report lists the Hoosier state as No. 1 per capita for job attraction from international investment and No. 2 overall for the attraction of production jobs from international companies.
"Governor Daniels's early decision to revamp our state's economic development efforts continues to pay dividends for Hoosiers," said Nathan Feltman, secretary of commerce and chief executive of the Indiana Economic Development Corporation. "The Governor's efforts to in-source jobs from around the world to Indiana compliment our efforts to retain and grow home-grown Indiana companies around our state."
The report, which registered more than 10,000 foreign investment project announcements made in 2007 across the world, includes top international investments in Indiana made in 2007 such as FoxConn, TS Tech, SMC Corporation, ArcelorMittal and others. Since 2005, international companies have invested more than $8 billion into their Indiana operations, creating more than 15,800 new jobs.
"Overall, global investment trends in 2007 show that companies are increasingly widening their investments to include more markets around the world in their efforts to access new markets, talent pools, or improved efficiency," said Roel Spee, global leader for IBM-Plant Location International. "But our study shows that the U.S. continues to be a top performer for creating jobs through new inward investments by multinational companies, and Indiana confirms its ranking among the leading states in several categories."
The IBM study is the latest in a series of national accolades the state has scored in economic development. Ernst & Young found the Hoosier state to be number one in winning new competitive job-creating investments from all sources when measured on a per capita basis in both 2006 and 2007.
The news of Indiana's award-winning efforts to attract investment comes as the Indiana Economic Development Corporation is poised for a fourth consecutive year of record-breaking commitments for new jobs and investment. Since January, 130 businesses have committed to create 16,120 new jobs and invest more than $3.9 billion in their Indiana operations.
Following the governor's creation of the agency in 2005, the state has logged three years of record-level attraction of new job-creating investment. Cumulatively since its inception, the Indiana Economic Development Corporation has worked with more than 600 companies that have committed to create more than 75,000 new jobs and invest more than $18 billion in their Indiana operations. Nearly two-thirds of all projects completed involve expansions of existing Indiana businesses.
About IEDC
Created by Governor Mitch Daniels in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Daniels. Indiana Secretary of Commerce Nathan Feltman serves as the chief executive officer of the IEDC. Since Daniels created the IEDC, the state has posted three consecutive years of record-breaking commitments for new jobs. For more information about IEDC, visit www.iedc.in.gov.