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City Eyes Foreign Direct Investment to Boost Local Economy

Glendale city officials are upping their efforts to attract foreign direct investment to strengthen economic prospects and job creation.

A 2022 report from the California Governor’s Office of Economic Development shows more than 1,400 jobs supported by FDI and more than 90 foreign-owned enterprises in Glendale. Top FDI markets include the United Kingdom, France, Japan and Switzerland.

“Pursuing FDI is a viable way to bring more business opportunity to the city. When you look at the numbers, it underscores why the city wants to increase connections with global partners. We can help create international market access for our local businesses while attracting more foreign investment overall,” said Glendale Director of Community Development Bradley Calvert.

Southern California’s 10 counties are the state’s primary FDI destination, hosting over 11,000 foreign-owned enterprises and employing more than 400,000 Californians, according to the World Trade Center Los Angeles 2023 FDI Report.

In Glendale, sectors attracting the most FDI include retail trade, finance and insurance, and professional services. International companies operating in the city include Great West Financial, PCL Construction, Addeco, Sodexo and Airgas.

The city plans to promote its business advantages at the June 2024 SelectUSA Investment Summit, one of the highest profile event in the United States that connects investors, companies and economic development organizations.

Glendale has 11 sister city relationships globally, fostering economic growth through interactions with government and business leaders.

“We are dedicated to growing our local economy. By promoting our business advantages to international partners, we can elevate Glendale’s innovation opportunities,” said Soua Vang, Glendale’s deputy director of economic development.

First published in the June 22 print issue of the Glendale News-Press.

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