June 12, 2024
While U.S. companies often invest in Asia-Pacific for cost advantages, Asian companies are increasingly investing in the U.S. Since 2021, the Asia-Pacific region has announced nearly $200 billion in U.S. investments, with significant contributions from China, Japan, South Korea, and India, especially in manufacturing.
Recent research from BGR Analytics highlights that Utah is the top state for Asian investment, according to the 2024 BGR Best States for Asian Investment Index. Utah has a strong economy and excels in metrics ranging from economic profile and business climate to infrastructure and innovation. From 2016 to 2021, FDI-driven employment in Utah grew by nearly 34%. Notably, Japan is the top foreign investor in Utah, with over 20 Japanese companies present.
Ryan Starks, Executive Director of the Utah Governor’s Office of Economic Opportunity, underscores the significance of Asian investment in Utah’s economy. The state actively engages with Asian partners through trade delegations, and Utah Governor Spencer Cox plans a business delegation to Japan and South Korea this fall to strengthen these ties further.
For more details, read the full article on Forbes.