The U.S. Department of Commerce is sponsoring the inaugural Invest in America Week from May 5 through May 9. The event will draw attention to the importance of foreign direct investment (FDI) in the United States for jobs and economic growth. According to the Commerce Department, more than 5 million Americans work in jobs created by FDI, and FDI accounts for 10 percent of U.S. capital investment, 15 percent of annual research and development expenditures, and 20 percent of U.S. exports. On average, U.S. subsidiaries of foreign firms pay 25 percent higher wages than those of U.S.-based companies, making these jobs highly sought-after by U.S. workers. Historically, the United States has been the world's largest recipient of FDI as the largest economy in the world. Events are being held throughout the week in Arizona, California, Connecticut, Kentucky, Maryland, Massachusetts, Nevada, New Hampshire, New York, Pennsylvania, Rhode Island, and Wisconsin.
All contents copyright 2021 Halcyon Business Publications, Inc.