Foreign direct investment is critical to economic growth and a top priority for manufacturers. While policies in Washington need dramatic improvement to encourage more foreign investment, the ongoing energy boom in the United States has already resulted in significant investment within our borders.
In a July 2013 report titled Non-US Investment Heroes: Foreign Companies Betting on America, The Progressive Policy Institute documents the top 25 foreign investors in the US economy – eight of which are energy companies. BP leads the pack as the top non-U.S. based investor in America at $19.3 billion, followed by Shell at $17.7 billion.
Energy production represents a significant portion of manufacturing’s future. As consumers of 1/3 of our nation’s energy, manufacturers need constant, affordable sources to drive future growth. The energy investments that foreign-based manufacturers are making in the U.S. are encouraging – and a true sign of the potential game changer that our energy advantage represents. We need serious action from Washington that will encourage more direct investment – the NAM has laid out those solutions in our Growth Agenda and if policymakers put these ideas into practice, we’ll see even more.
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