The 2021 edition of the Foreign Direct Investment (FDI) Report in California was released at a WTCLA-sponsored webinar on June 2nd. Japan again ranked first in generating the greatest number of jobs, businesses, and wages as direct investments in the state.
WTCLA (World Trade Center Los Angeles), a subsidiary of LAEDC (Los Angeles County Economic Development Corporation), which JBA has a “Strategic Alliance Partner Agreement” with, held the webinar on the FDI Report in California on June 2nd. Every year, this report is presented at the “Select LA” event held in Downtown LA, but this year it was announced in a webinar format amid the pandemic. Traditionally, the report has specifically targeted foreign direct investment in Southern California, but since last year it has been compiled for investment throughout the entire state of California.
WTCLA President Stephen Cheung moderated the webinar and introduced the content of the report. While investment by overseas companies has been shrinking across the board due to the impact of the pandemic since last year, Japanese companies accounted for 16.4% of the total number of employment by overseas companies in the entire state of California and ranked ahead of the UK, in terms of the number of jobs, businesses, and wages generated. Lt. Governor of California Eleni Kounalakis expressed gratitude for the contributions of Japanese companies as well as hopes for further development based on the long history of economic exchange between California and Japan.