Michigan ranks first in the nation for the highest concentration of foreign direct investment (FDI) jobs in the manufacturing sector, accounting for 64 percent of the state’s FDI jobs, according to data released by the Global Business Alliance (GBA) in Washington, D.C.
According to the latest BEA data, 318,400 workers in Michigan are employed by international companies. Michigan has the second-highest concentration of FDI jobs in the country, with 9.1 percent of the state’s private sector jobs supported by international companies.
More than 1,185 international employers have operations in Michigan, with Germany, the Netherlands, and the United Kingdom supporting the largest number of jobs.
“International companies employ over 300,000 workers in the Great Lakes State and a whopping 64 percent of those workers are manufacturing goods right here in the U.S.,” says Nancy McLernon, president and CEO of GBA. “When international companies invest in America, they cast a vote of confidence in our workforce and economy. Global investment strengthens America’s economy and makes it more resilient by fueling innovation, bolstering America’s manufacturing sector, exporting American-made goods and creating high-quality, good-paying jobs.”
Nationwide, international companies employ 7.9 million Americans and pay 10 percent higher wages and benefits than the economy-wide average. From 2015-2020, America’s FDI employment rate increased by 15 percent, while the country’s overall private-sector employment remained flat. In fact, international companies created nearly 400,000 new manufacturing jobs while, sadly, the U.S. overall lost 223,000 over that same period.
Some key highlights from GBA’s analysis of Michigan:
- High-Quality Jobs: International companies employ 318,400 workers in Michigan.
- Bolstering Manufacturing: 203,600 Michigan workers have jobs supported by international companies in the manufacturing sector, accounting for 64 percent of all FDI jobs in the state.
- Many Employers: More than 1,185 international employers have operations in Michigan.
- FDI Strengthens Michigan’s Economy: From 2015-2020, Michigan’s FDI employment increased by 31 percent while the state’s overall private-sector employment decreased by 5 percent.
To review the full analysis, visit here.
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