Foreign Direct Investment is a dynamic and active part of the New Hampshire economy, of which more than 186 foreign companies, representing more than 24 countries-of-origin, and more than 45 industries are a part.
Collectively, these businesses support more than 43,300 jobs, as outlined in the 2019 New Hampshire Foreign Direct Investment Report prepared by researchers at Plymouth State University. Highlights from the latest study were shared last month at a PSU forum hosted by the university and the New Hampshire Department of Business and Economic Affairs.
The forum was aimed at economic development professionals and others on the role of foreign direct investment in the state’s economy, and ways to attract FDI to their areas, touching on the state’s particular advantages, opportunities and challenges in attracting foreign companies to do business in the state.
A panel of experts, including Ryan Wallace, domestic portfolio investment specialist at SelectUSA; Leanne Spees, senior vice president of international finance at Provident Bank; Chuck Withee, president and chief lending officer of Provident Bank; Bruce Morrison, shareholder of Bernstein Shur; Marc Jacques, senior political and economic affairs officer and Consulate General of Canada, and Cynthia Harrington, business development manager at BEA, shared insights on attracting and growing FDI.
“(The day’s)conversation and sharing of information illuminated the incredible impact and potential FDI has in New Hampshire,” said Dr. Jonathan Dapra, assistant professor of management at PSU, who moderated the panel. “It will continue and deepen as professionals throughout the state explore the opportunities that our research is revealing.”
Introduced in 2018, the New Hampshire Foreign Direct Investment study is conducted annually by PSU professors Dapra, Dr. Roxana Wright, and Dr. Chen Wu. It provides an overview of foreign business presence in New Hampshire and analysis of the countries of origin of foreign subsidiaries represented across the state’s counties and industries.
Highlights of the 2019 New Hampshire Foreign Direct Investment Report include:
• Foreign businesses contribute to a varied economic landscape, with growing employment and easy integration among industry and supply chain partners;
• Most foreign subsidiaries in the state are local operations with fewer than 50 employees, and nearly half have fewer than 10;
• There has been a pattern of growth and expansion of foreign businesses in New Hampshire over the past two decades;
• While the majority of foreign businesses are concentrated within New Hampshire’s southern tier, potential exists for FDI to grow in the northern region of the state.
Click here for the complete 2018 and 2019 reports.