Working together with state and local economic development organizations, GPEC is laying the groundwork for making Greater Phoenix the location of choice for foreign direct investment.
Innovative, global and high growth firms looking to establish a presence in the United States are drawn to a metro area offering more than low costs and incentives, but by a region’s unique industry base, talent pipeline and livability.
For many foreign-owned enterprises, the decision about where to invest is often driven more by necessity than choice, as only a few regions truly offer the right combination of assets for their industry. Companies looking to invest abroad need to assess the existing supply chain, potential customer base, availability of skilled workforce, trade relationship (with the home country as well as where the company conducts its business), and connectivity to high caliber research institutions.
Greater Phoenix has long been a development center for new technologies and innovation. The region’s modern economy – which has been expanding at a faster rate than the national average since 2011 – is built on high-technology semiconductor and aerospace and defense industries, including world-class companies such as Intel, On Semiconductor, Microchip Technologies, NXP Semiconductor, Boeing, Honeywell and others.
But the economy is also rapidly expanding thanks to other high-tech industries, including clean technology – solar and water technologies; information and communications technology – cybersecurity, content management, education technology, health IT, and more; and a vibrant healthcare and biosciences ecosystem leading in oncology, neurology, hearth and metabolic disease research and treatment.
Greater Phoenix’s educational assets continue to provide the required talent pipeline and research capabilities to sustain these mature and new industries. The region’s flagship public research institution, Arizona State University, was named the “Most Innovative University” in the nation by U.S. News & World Report – ahead of MIT and Stanford – due to its original approach to research, education and entrepreneurship.
Combined with its burgeoning entrepreneurial ecosystem, the region has now become a top choice for high growth and venture backed companies to quickly go to scale; thanks to its large, trained workforce and lower cost of living.
Additionally, we are pleased to announce that the new international toolkit, “Doing Business in Greater Phoenix, U.S.A.” will be released late Spring 2016.
All these features certainly can make Greater Phoenix the location of choice for many foreign-owned enterprises looking to establish a presence in the United States. And GPEC is ready to assist any foreign company as they assess the market and consider Greater Phoenix as their next location.