MURFREESBORO,
Tenn. — The latest Middle Tennessee State University Global Commerce report
shows foreign investment into Tennessee business and industry dropped slightly
last year, but remained “healthy” and “substantial.”
The
report by MTSU’s Business and Economic Research Center shows that Tennessee's
new or expanded foreign-owned operations saw more than $567 million invested
and was responsible for bringing in almost 2,600 jobs during 2016.
Tennessee
received foreign investment from 18 firms from nine different countries, notes
report author Steve Livingston, an MTSU political science professor and Global
Commerce editor. The $218.5 million commitment at the JTEKT Automotive
expansion in Vonore, Tennessee, was the largest dollar amount investment last
year, the report states.
The full
Global Commerce report, including maps and charts and comparisons to recent
years, can be found at http://capone.mtsu.edu/berc/globalcommerce.html.
Livingston
noted that the majority of new foreign investment in 2016 came from Japan and
Germany. And while last year saw fewer of the “blockbuster” investments of
recent years, “employment and investment in the foreign-owned sector of the
state's economy is continuing to grow faster than in its domestic counterpart,”
he said.
For more
information about the report, contact Livingston at 615-898-2720 or email steven.livingston@mtsu.edu.
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