Investor Watch: July 06, 2023

RURAL ADVANTAGE

Here’s why folks are fleeing the bright lights of the big city and loving it.

EDITOR’S VIEW

A new study based on SEC filings shows around 9% of all U.S. corporations have moved their HQs since the beginning of 2022. Mark Arend has some thoughts on where they’re going and why.

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TESTIMONIALS

Senior executives from major employers across the state explain what makes Michigan right for their growing companies.

Graph courtesy of U.S. BEA

This morning the U.S. Bureau of Economic Analysis (BEA) for the first time revealed data on foreign direct investment in the U.S. in 2022 that showed a 51% decrease to $177.5 billion (preliminary) — significantly below the average of $298.8 billion for 2014-2021. The manufacturing sector, at $55.2 billion, accounted for 31.1% of total expenditures. By state, California received the most investment, totaling $29 billion, followed by Texas ($20.7 billion) and Illinois ($10.9 billion). The manufacturing sector accounted for a full 65% of greenfield FDI with a total of $5.3 billion, led by computer and electronic products ($1.8 billion). By state, California received the highest level of greenfield investment ($1.5 billion). Watch for more analysis of the new FDI data alongside new global FDI data released last week by UNCTAD in this week’s Site Selection Snapshot newsletter on Wednesday, July 12.

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Managing Editor Adam Bruns made this photo Saturday from the Kentucky-side ramp to the Big Four Pedestrian Bridge across the Ohio River connecting downtown Louisville to a rejuvenated downtown Jeffersonville, Indiana. The original railroad bridge structure, constructed between 1888 and 1895, ceased operation in 1969. “On February 6, 2013, the city opened an elliptical ramp and the bridge to pedestrians and bicycles,” says the Waterfront Park website, noting the one-mile length of the combined bridge span and ramps on either side. “We installed counters on the Louisville ramp in 2013, helping us calculate an average of 1.5 million pedestrians and bicycles that cross the bridge each year. In 2014, Jeffersonville built their ramp to complete the Big Four experience.”