Haslam, Boyd plan journey to Germany

News release from Department of Economic and Community Development

NASHVILLE – Tennessee Gov. Bill Haslam and Economic and Community Development Commissioner Randy Boyd will travel to Germany from Oct. 31 to Nov. 4 in an effort to build and strengthen ties with the country’s business leaders as well as increase foreign direct investment opportunities (FDI) in Tennessee.

In addition to meeting with German executives who already operate businesses in Tennessee, Haslam and Boyd will pitch the state’s advantages to a number of German companies interested in setting up operations in the Southeastern U.S.
Tennessee ranked No. 1 nationally for job creation resulting from foreign direct investment in 2015, according to IBM-PLI’s 2016 Global Location Trends report.. Tennessee ranked No. 1 and No. 4 in IBM’s Global Local Trends report in 2014 and 2015, respectively.

…There are 103 German-owned companies in Tennessee that have invested nearly $5.3 billion throughout the state and employ almost 14,000 Tennesseans. Germany is the second-largest source of FDI in Tennessee, behind only Japan. FDI from German companies accounts for more than 15 percent of the total $33.4 billion that foreign-owned businesses have invested in Tennessee.

Note: This is a shortened version of the news release. The full release is HERE.

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