The Brookings Institution Global City Initiative has selected Phoenix as one of six cities to increase foreign direct investment.
Along with Charleston, Chicago, Indianapolis, Louisville-Lexington and Wichita, the initiative is designed to assist the metropolitan leaders of these cities in advancing and growing their regional economies. The key economic indicators include exports, advanced manufacturing and foreign direct investment and traded sectors. The initiative will focus on strengthening these indicators, as well as international connections and competitiveness.
According to the U.S. Census Bureau, Arizona as a state had the fastest growth of any other state in the country in exporting volume in 2015. However, it is important to note that exports only represent nine percent of Arizona’s total gross domestic product.
The Global City Initiative has funded many economic growth programs in the Valley, including Velocity, the Metropolitan Phoenix Business Plan.
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