Why do more than 2,300 international companies employing a combined 367,000 workers have operations in the Mid-Atlantic region?
Perhaps it’s proximity to the U.S. capital and its numerous research institutions, federal contractors and other customers and collaborators. It might be the Mid-Atlantic region’s infrastructure and logistics assets, from seaports to global aviation hubs to highly connected rail and Interstate networks. Access to one of the largest concentrations of skilled labor and higher education assets in the country is likely another draw.
Virginia, Maryland and Delaware are magnets for foreign direct investment (FDI), as analysis from the Global Business Alliance (GBA) illustrates. GBA, based in Washington, D.C., advocates for foreign investment into the U.S. and tracks levels of that investment nationally and on the state level.
Following are GBA-sourced profiles of FDI in these states in recent years, the common denominator being solid foreign investment growth trends.
Container ports in Wilmington, Baltimore (right) and Norfolk (above) are among the infrastructure assets of keen interest to international companies doing business in the Mid-Atlantic.
Photo: Getty Images
VIRGINIA
- A total of 982 international companies employ 209,600 workers; 51,000 work in manufacturing.
- From 2012 to 2022, FDI employment in Virginia grew 34%; overall private-sector employment grew 11%.
- FDI jobs are 6.3% of total state employment.
- Companies from the Netherlands, the United Kingdom and Germany support the most FDI jobs.
FDI Snapshot
Munters Corporation, based in Sweden, broke ground in July on a $29.95 million, 200,000-sq.-ft. expansion to its HVAC manufacturing facility in Botetourt County in southwest Virginia. The project will create 270 new jobs. The company manufactures climate control solutions for mission-critical processes in industries including battery manufacturing, pharmaceuticals, data center cooling and food production.
“The rapidly evolving demands of the data center industry push us to continuously advance our technology. By expanding our Virginia facility to include chiller production, we’re strengthening our ability to serve the U.S. market and capture more of its growth offering a comprehensive portfolio of technical solutions,” said Stefan Aspman, president of the Data Center Technologies business area.
Also in southwest Virginia, Hitachi Energy is investing $22.5 million to expand transformer production capacity at its facility in Bland. The company also is adding a warehouse in Atkins. The expansion will create 120 new jobs.
DELAWARE
- A roster of 516 international companies employ 36,200 workers; 8,400 work in manufacturing.
- From 2012 to 2022, FDI employment in Delaware grew 38%; overall private-sector employment grew 3%.
- FDI jobs are 9% of total state employment.
- Companies from the United Kingdom, Germany and the Netherlands support the most FDI jobs.
FDI Snapshot
Satys, a France-based aircraft, aerospace space and railway painting, sealing and interior manufacturing company is investing nearly $1.3 million at a site in New Castle, its second U.S. location. The company says it’s establishing an aircraft paint facility and training hub in a currently shuttered hangar at Wilmington Airport – ILG that had previously been occupied by fellow French company Dassault and used in a similar capacity. The facility will serve the business jet market in the eastern United States and Canada.
MARYLAND
- Some 866 international companies employ 122,800 workers; 30,800 work in manufacturing.
- From 2012 to 2022, FDI employment in Maryland grew 4%; overall private-sector employment fell 0.53%.
- FDI jobs are 5.5% of total state employment.
- Companies from the United Kingdom, the Netherlands and Canada support the most FDI jobs.
FDI Snapshot
Bengaluru, India-based Syngene International, a global research, development and biotech pharmaceutical manufacturing company, plans to open a facility in Baltimore City, its first in the United States. The company says it expects to create 300 jobs and be fully operational by the end of the year. It will operate from a 100,000-sq.-ft. biologics manufacturing site it acquired and plans to invest $13.5 million in renovations.
Hellenic Cables Americas, a subsidiary of Belgium-based Cenergy Holdings, is establishing a cable manufacturing facility at a site in Wagner’s Point along the Patapsco River in Baltimore City. Hellenic Cables is one of the largest cable producers in Europe, manufacturing power and telecom cables, as well as submarine cables for industries including offshore wind and utilities. An estimated 120 new manufacturing jobs will be created when the factory is fully operational toward the end of 2026, according to the company.
