an overview of foreign direct investment in north carolina · 2017-11-10 · the economic...

FOREIGN DIRECT INVESTMENT IN NORTH CAROLINA

A N OV E RV I E W O F

THE ECONOMIC DEVELOPMENT PARTNERSHIP OF NORTH CAROLINA

JUNE 2017



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INTRODUCTIONOver the last 10 years, more than 560 international compa-nies have put down roots in North Carolina, investing over $14 billion dollars and creating almost 50,000 jobs. These companies found North Carolina to be a land of low-costs and high opportunity—furthered by hardworking, well-trained people, a welcoming business and regulatory environment, and a state-wide community that’s committed to helping in-ternational businesses succeed in North Carolina.

$14,639 BILLION

49,786 NEW JOBS

A note on our methodology: We wrote this report using data from two sources. The first is FDIMarkets, a third-party da-tabase of major investment projects that aggregates project information from sources like news reports and press releas-es. We then cross-referenced FDIMarkets with information from North Carolina’s Community Investment Report, a da-tabase which contains economic development project data for the state. Jobs and investment amounts are modeled in cases where the project scope is confidential or unknown.

INVESTED BY FDI 2007 - 2016 CREATED BY FDI 2007 - 2016



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Top Countries Investing in North Carolina

2 3

4 5 6

7 8

GERMANY$3B invested12,052 jobs114 companies

JAPAN $1.8B invested5,265 jobs53 companies

CANADA$1.6B invested5,177 jobs55 companies

DENMARK$1.4B invested1,420 jobs10 companies

SWITZERLAND$1.2B invested3,729 jobs31 companies

UNITED KINGDOM$1.1B invested4,712 jobs73 companies

ITALY$751M invested2,717 jobs29 companies

CHINA$536M invested1,842 jobs30 companies

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10 11 12

ISRAEL$526M invested867 jobs15 companies

FRANCE$360M invested1,388 jobs15 companies

SWEDEN$333M invested1,420 jobs18 companies

SPAIN$314M invested662 jobs7 companies

Ranked by Total Capital Investment 2007 - 2016

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STRENGTH IN DIVERSITYBusinesses representing more than 40 different countries and 35 different industries have established operations in North Carolina.



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Top FDI Industries in North Carolina

05 00 1000 1500 2000 2500

Biotechno logy

Plastics

Automotive OEM

Consumer Products

Paper, Printing & Packag ing

Electronic Component s

$754 Million

$1.02 Billion

$1.5 Billion

$2.1 Billion Phar maceut icals

Automotive Components

Textiles

Chem icals

Alternative Ener gy

Industrial Machinery

Rubbe r

$736 Million

$731 Million

$685 Million

$641 Million

$567 Million

$537 Million

$537 Million

$435 Million

$456 Million

$685 Million

$456 Million

$478 Million

Spotlight: Novo Nordisk’s near $2B Expansion in North Carolina

In Aug. 2015, Novo Nordisk, a Danish man-ufacturer of insulin and related products, an-nounced plans to build a new facility next to its existing plant in Clay-ton, North Carolina, a $1.2 to $1.7 billion invest-ment. This will nearly double Novo Nordisk’s presence in North Carolina, enabling the company to produce active ingredients for its diabetes care products. Previously, these ingre-

preferred location,” said Jesper Høiland, Presi-dent of Novo Nordisk Inc. USA and Executive Vice President Novo Nordisk A/S. “We already have a large and very profes-sional organization here,

Total Capital Investment 2007 - 2016

dients were manufac-tured only in Denmark. The decision came down to the strong part-nership Novo Nordisk has formed with state and local leaders, and the quality of the local workforce. “For some time, we have been evaluating several options to bring more capacity into the U.S....after a thorough evaluation of multiple sites and an extensive vetting process, Clay-ton ended up being our

and have been impressed by the excellent collabo-ration we have had with this city, county and state leadership, and appreci-ate the incentives they have secured in con-nection with this invest-ment.”

0 500 1000 1500 2000 2500



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BETTER BUSINESS HAPPENS HEREFrom manufacturing to marketing, with 58 community colleges and one of the most renowned public university systems in the country, North Carolina has the talent busi-nesses need today, and workforce development resources for the future.

MANUFACTURING25,567 jobs HEADQUARTERS

8,277 jobs

LOGISTICS, DISTRIBUTION & TRANSPORTATION3,267 jobs

DESIGN, DEVELOPMENT & TESTING 4,241 jobs

SHARED SERVICES CENTER926 jobs

CUSTOMER CONTACT CENTER1,255 jobs

RESEARCH & DEVELOPMENT1,667 jobs

BUSINESS SERVICES2,700 jobs

SALES, MARKETING & SUPPORT2,852 jobs

TECHNICAL SUPPORT CENTER485 jobs

Job Creation via FDI in North CarolinaRanked by total number of jobs committed through FDI projects 2007 - 2016

Imagine this: A com-

pletely fresh take on the

entry-level business jet,

featuring a unique over-

the-wing engine mount,

lightweight composites

and an aerodynamic

design which allows it to

fly faster, higher, quieter

and more efficiently than

any jet in its class. Add

sporty styling and a spa-

cious, comfortable cabin

that can be configured

for up to six passengers

and you’ve got the ulti-

mate balance of innova-

tion and inspiration.

This is the HondaJet,

an aviation dream first

sketched out in 1997

by Michimasa Fujino,

now President and CEO

of Greensboro, North

Carolina-based Honda

Aircraft Company, and

regarded today as the

world’s most advanced

light jet.

Fujino’s team at what

was then Honda R&D

Americas arrived in

North Carolina nearly

two decades ago to turn

dream into reality. The

HondaJet’s journey from

design to prototype to

production is a story of

innovation brought to

life with the support of

North Carolina’s skilled

manufacturing workforce

and strong public and

private partnerships.

To design and test the

prototype, Honda R&D

Americas opened a re-

search center at Greens-

boro’s Piedmont Triad

International Airport in

2000. In 2007, four years

after the first test flight

of the HondaJet and one

year after Honda Aircraft

was formed to produce

and market the jet, the

company decided to add

a world headquarters

and production facility to

the existing airport cam-

pus. It’s been expanding

ever since.

The HondaJet maker’s

positive experience in

North Carolina reflects

the broader story of its

parent company. In fact,

the American Honda

Motor Company found

North Carolina so much

to its liking that it has

four subsidiary facilities

in the state – including

Honda Aircraft– with

2,500 associates com-

bined.

North Carolina filled

several key needs for

Honda Aircraft:

• Close proximity to an

airport for flight tests

and convenient access to

end markets.

• A skilled workforce

that could meet the

demands of an advanced

manufacturing operation

now and in the future.

• Strong support from

state and local partners.

“When we entered

the stage of this proj-

ect where it was time

to transition from re-

search and prototype

development to actu-

al production of the

HondaJet, we looked at

locations everywhere,

including Seattle, Texas

and Atlanta,” said Fujino.

“Overall, North Carolina

and Greensboro met our

criteria best.”

Since Honda Aircraft’s

formation in 2006, the

company has invested

$160 million in Greens-

boro and now employs

more than 1,700. Honda

Aircraft’s experience is a

case study in how com-

panies are able to find

the right combination of

resources they need to

succeed in North Car-

olina – however unique

their needs might be.

For companies seek-

ing sites for advanced

HONDA AIRCRAFT COMPANY & NORTH CAROLINA:

ALLIES IN INNOVATION

© HONDA AIRCRAFT COMPANY, 2017



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manufacturing opera-

tions, Greensboro is the

nation’s low-cost leader,

according to The Boyd

Company, a national site

selection consultant. But

a skilled, high-quality

workforce capable of

keeping Honda Aircraft

on the leading edge of

innovation was near the

top of Honda’s list.

Fujino emphasizes the

importance of its part-

nership with Guilford

Technical Community

College (GTCC), which

developed programs to

train prospective Hon-

da Aircraft technicians

and is currently working

to expand its avionics

program. The state and

county have support-

ed GTCC in expanding

its programs to grow

the emerging aero-

space industry cluster in

Greensboro and Guilford

County as well as other

companies involved in

advanced manufactur-

ing. Across the state,

community colleges

have provided training

programs for aircraft

technicians and avionics

experts.

Honda Aircraft also

relies on North Carolina’s

most prestigious univer-

sities, including nearby

Duke University, the

University of North Car-

olina-Chapel Hill, North

Carolina State University

and North Carolina A&T

State University – as a

pipeline of talented inno-

vators and for its intern-

ship and co-op program.

“Companies like Honda

Aircraft need to know

that you’ll have the

When we entered the stage of this project where it was time to transition from research and pro-totype development to actual production of the HondaJet, we looked at locations everywhere. Overall, North Carolina...met our criteria best.

— Michimasa Fujino,President & CEO, HondaJet

skilled workforce they

need on Day 1, but they

also need to know that

you’ll have the workforce

they need on Day 5,001,”

said Brent Christensen,

President and CEO of

the Greensboro Cham-

ber of Commerce. “Here

in North Carolina, we

understand what com-

panies need to succeed

and we are meeting their

needs.”

Piedmont Triad Inter-

national Airport (PTI)

has been an equally

committed partner. With

support from the North

Carolina Department of

Transportation, the air-

port stepped up to make

needed improvements

to the site for Honda

Aircraft’s campus, and

extended taxiways for

runway access. From a

big-picture perspective,

PTI is working diligently

to make the airport an

attractive site for other

aviation and aerospace

operations, an effort that

includes adding 800-

1,000 acres of available

land adjacent to the

airport.

Providing the resources

to help Honda Aircraft

thrive was a broad-based

effort involving a pack-

age of grants and tax-

based incentives from

the State of North Car-

olina, local communities

and county government,

and even private-sec-

tor contributions from

a major North Carolina

corporate partner, Duke

Energy, which supported

GTCC’s training pro-

grams.

“This has been a great

partnership between

the company and the

community in building

aircraft right here in Guil-

ford County,” said Chris-

tensen. “It truly has been

a multi-level effort.”

Companies like Honda

Aircraft also care about

another important site

selection factor: North

Carolina’s natural beauty

and its appeal as a great

place to live, work and

play.

“North Carolina has a

terrific quality of life,”

said Fujino. “We’re a

short drive from the

mountains and the

beaches, we enjoy four

seasons, a low cost of

living, great schools and

many of the amenities

families want.”



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This will be our fourth plant in North Carolina, an area where we have

thrived thanks to a fantastic workforce and a great business

environment.

— Linda Hasenfratz,CEO, Linamar Corporation

Business Investment in North Carolina

C A N A D A

In the last five years, Canadian companies have invested

WiserTrade 2016 trade data

in North Carolina and announced

$1.1B I L L I O N

3,000N E W J O B S

Imports (Canada to North Carolina) Total: $3.36B

Industrial Machinery $406M

$1.28B

Plastics $382M

$1.09B

Pharmaceutical $291M

$660M


Vehicles and Parts

Pharmaceutical Products

Exports (North Carolina to Canada) Total: $3.38B



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$459M I L L I O N

1,430N E W J O B S

North Carolina is a fantastic place for our business because of its cluster of raw-material suppliers, well-trained

workforce and business-friendly environment.

— Hancy Cheng,CEO, U-Play Corporation


C H I N A

Since 2012, Chinese companies have invested more than


Imports (China to North Carolina) Total: $10.2B

Industrial Machinery $2.9B

$341M

Electric Machinery $1.3B

$223M

Furniture $946M

$223M

Electric Machinery


Wood Pulp

Exports (North Carolina to China) Total: $2.1B



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We are thrilled to put down roots in the U.S., and

particularly in this area that is so rich with culture and innovation... We are

so pleased to be here.

— Alain Wilmouth,CEO, 2CRSI


F R A N C E

Since 2012 French companies have invested



$70M I L L I O N

300N E W J O B S

Imports (France to North Carolina) Total: $1.83B


$793M

Organic Chemicals $139M

$100M

Manufactured Articles $125M

$47M

Aircraft, Spacecraft and Parts


Misc. Chemical Products

Exports (North Carolina to France) Total: $1.19B



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G E R M A N Y

In the last five years, German companies have invested



$1.3B I L L I O N

5,400N E W J O B S

Imports (Germany to North Carolina) Total: $1.7B

Pharmaceutical Products $1.1B

$200M

Industrial Machinery, including Computers $338M

$122M


$104M



Electric Machinery

Exports (North Carolina to Germany) Total: $426M

Our new US HQ will combine the strength of American and German engineering. For us,

[North Carolina] provides an experienced and skilled

workforce and the ideal business environment for our

investment.— Martin Bayer,

CEO, RAUMEDIC



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It was a combination of decisions [that brought Shalag

to Oxford, N.C.], mostly because of the distance to our

existing customers in North America. The area was certainly a good point for importing the raw material — fibers — and for

transportation.

— Jeff Harari,CEO, Shalag USA


I S R A E L

Since 2012, Israeli companies have invested more than


$305M I L L I O N

Imports (Israel to North Carolina) Total: $229M

Plastics $51M

$25M

Wadding, Yarn, Twine $28M

$17M

Electric Machinery $25M

$14M



Essential Oils

Exports (North Carolina to Israel) Total: $130Min North Carolina and announced

300N E W J O B S



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We are happy to build our new manufacturing operation

in [North Carolina] where, thanks to the local authorities

support, we have identified the ideal conditions to run our

USA business.

— Davide Braida,President & CEO, Nutkao USA


I T A L Y

In the last five years, Italian companies have invested



$400M I L L I O N

930N E W J O B S

Imports (Italy to North Carolina) Total: $1.01B


$45M

Pharmaceutical Products $374M

$29M

Special Classification Provisions $157M

$16M


Wood Pulp

Wood and Articles of Wood

Exports (North Carolina to Italy) Total: $90M



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I am very fortunate that we found a place and a people who share our vision and our values.

This is a place with a long term vision for economic

growth and prosperity

— Michimasa Fujino,President & CEO, HondaJet


J A P A N

Since 2007, Japanese companies have invested more than



$1.7B I L L I O N

5,200N E W J O B S

Imports (Japan to North Carolina) Total: $2.8B

Industrial Machinery $1.24B

$387M


$242M

Vehicles and Parts $236M

$140M


Tobacco


Exports (North Carolina to Japan) Total: $1.5B

© HONDA AIRCRAFT COMPANY, 2017



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Grifols’ roots run deep in North Carolina...North

Carolina has provided the talented, educated professionals who are

dedicated to helping our company grow.

— Sergi RouraPresident, Grifols


S P A I N

Since 2007, Spanish companies have invested over



$314M I L L I O N

Imports (Spain to North Carolina) Total: $150M


$122M


$62M


$19M


Aircraft, Spacecraft, and Parts

Electric Machinery

Exports (North Carolina to Spain) Total: $203M

662N E W J O B S



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“We are excited to be moving our North American

headquarters to North Carolina. The state’s leading position in

respiratory disease research and commercialization of cutting

edge products was critical in our decision to locate our business in

North Carolina.

— Chip Neff,President, Aerocrine Inc.


S W E D E N

Since 2005, Swedish companies have invested more than



$200M I L L I O N

4,200N E W J O B S

Imports (Sweden to North Carolina) Total: $176M


$31M


$13M

Vehicles and Parts $20M

$12M

Aircraft, Spacecraft & Parts


Wood Pulp

Exports (North Carolina to Sweden) Total: $55M



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North Carolina is a leader in agricultural

biotechnology, and close ties with academic and

research institutions provide an environment that fosters innovation.

— Michiel van Lookeren Campagne,President, Syngenta Biotechnology


S W I T Z E R L A N D

In the last five years, Swiss companies have invested



$493M I L L I O N

1,500N E W J O B S

Imports (Switzerland to North Carolina) Total: $745,905,177

Pharmaceutical Products $384,649,505

$54,217,840

Industrial Machinery, including Computers $92,427,172

$39,448,317

Organic Chemicals $65,156,975

$12,352,279

Tobacco and Manufactured Tobacco Substitutes

Essential Oils, Perfumery, Cosmetics

Industrial Machinery, including Computers

Exports (North Carolina to Switzerland) Total: $141,870,303



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“GKN Driveline is a global leader in the automotive industry and our innovative all-wheel drive

and eDrive technologies position the company for growth in the coming years. North Carolina is

an important part of our strategy, with strategically located facilities

and an outstanding workforce.”

— Phil Swash,CEO GKN Driveline


U N I T E D K I N G D O M

Since 2012, UK companies have invested more than



$405M I L L I O N

2,800N E W J O B S

Imports (United Kingdom to North Carolina) Total: $2.01B

Pharmaceuticals $1.4B

$171M


$147M


$60M



Special Classification Provisions

Exports (North Carolina to United Kingdom) Total: $378M



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The Economic Development Partnership of North Carolina helps companies navigate the process of relocating or expanding their business to North Carolina.

We provide FREE assistance with:

Richard MinorVP, Business DevelopmentEconomic Development Partnership of North Carolina+1 (919) 447 - [email protected]

Korey HowardSenior Manager, International Business DevelopmentEconomic Development Partnership of North Carolina+1 (919) 447 - [email protected]

• Real estate and site identification

• Incentives and tax benefit inquiries

• Regulatory navigation

• Export services and global market expansion

• Supplier and distribution connections

• World-class workforce solutions

Low Risk

One of only three states to earn Standard & Poor’s highest rating for 50 consecutive years.

AAABOND RATING

High SkillsNorth Carolina offers one of the nation’s most renowned education systems, supplying companies a pipeline of skilled workers

• 53 colleges and universities, including three Tier 1 research universities

• Nationally recognized, 58-campus community college system

• 108,000+ post-secondary degrees awarded in 2014

#1 #2 #3

Best State for Business Best Labor ClimateLowest State & Local Business

Tax Burden in the U.S.(2016)(2016)

(2016)

What Can We Do For You? Contact EDPNC

Low Cost

North Carolina’s industrial electricity costs run nearly 6% less than the U.S. average.

U.S. Average

North Carolina6.51¢/kw hr

6.91¢/kw hr

6.0 6.2 6.4 6.6 6.8 7.0 7.2

NORTH CAROLINA’S INVESTMENT ADVANTAGE


@ e d p n c /c o m p a n y/e d p n c/ N C E c o n o m i c D e v e l o p m e n t / @ e d p n c

an overview of foreign direct investment in north carolina · 2017-11-10 · the economic...

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