Arizona leaders working to attract foreign companies

PHOENIX — State leaders are continuing to grow and strengthen Arizona’s international presence in hopes of becoming a global trading powerhouse.

“The governor and the legislature have worked to enhance our competitive position globally,” said Sandra Watson, CEO of the Arizona Commerce Authority. “Arizona is strategically positioned to access world markets.”

Arizona boasts a superior quality of life and a strategic southwest location, which appeals to foreign-based companies who are looking to invest and grow in the United States.

“A number of businesses are looking at areas in which they can operate in a low-cost environment, with pro-business policies and have an available talent pool,” said Watson. “Arizona offers all of those advantages.”

According to FDI Markets, an online database of cross-border, greenfield investments in all countries and sectors worldwide, over the last 10 years, there were 139 foreign direct investment projects in Arizona with a cumulative capital expenditure of more than $7 billion and accounting for more than 13,000 jobs.

The state’s push to attract global business is not only for the millions of dollars pumped into the economy, but it creates tens of thousands higher-paying jobs.

“The ability to do well in Germany, Spain, Australia, places like Brazil and China that’s what’s going to ultimately lead our economy,” said Barry Broome, CEO of the Greater Phoenix Economic Council. “Being a trade player, particularly in Asia is very important for our economic success.”