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WASHINGTON - Tim Nowak, executive director, World Trade Center St. Louis, has been named as a leader of the FDI Frontlines Coalition, a national organization focused on arming state, regional and local economic development organizations (EDOs) with the resources they need to attract more foreign direct investment (FDI).
"Global investment plays a critical role in Missouri's economy, and Tim's efforts through World Trade Center, St. Louis have made the Show-Me State a leader in attracting foreign investment," said Nancy McLernon, president and CEO of the Organization for International Investment (OFII), a non-profit business association representing 170 of the world's largest employers that is supporting the coalition. "EDOs engage with global investors to create opportunities for their communities, fighting every day to improve the business climate in America. At its essence, the FDI Frontlines Coalition is about helping EDOs attract more global investment, and we're honored to have Tim help lead this initiative."
With the support of OFII and its insourcing member companies, the FDI Frontlines Coalition will offer EDOs an opportunity to enhance their global investment IQ by providing research and business insight while also amplifying their voice on ways America can attract more foreign direct investment.
"St. Louis' future is a global one. The region already benefits from a diverse group of global employers. Our work with the FDI Frontlines Coalition coupled with our recent inclusion in the Brookings Institute - Global Cities Initiative will position St. Louis among the more economically competitive and forward thinking regions in the United States," said Nowak.
The FDI Frontlines Coalition was officially launched at the SelectUSA Investment Summit in Washington, DC on Monday, which brought President Obama, seven cabinet secretaries and three governors together with thousands of EDOs and foreign employers to focus on increasing foreign direct investment in America. Already, more than 175 EDOs have joined the national coalition.
Insourcing companies support 89,600 jobs in Missouri. Nationally, these insourcing companies employ 5.8 million Americans, support an annual payroll of $456 billion, paying U.S. workers an average of $78,927 - more than 33 percent higher than the economy-wide average. Insourcing companies also produce more than 21 percent of U.S. exports, providing $334 billion in American goods annually to customers around the world.
Learn more about the critical role insourcing companies play in America's economy here.
About OFII
Created more than two decades ago, the Organization for International Investment (OFII) is a non-profit business association in Washington, D.C. representing the U.S. operations of many of the world's leading global companies, which insource millions of American jobs. OFII works to ensure the United States remains the top location for global investment. As such, OFII advocates for fair, non-discriminatory treatment of foreign-based companies and promotes policies that will encourage them to establish U.S. operations, increase American employment, and boost U.S. economic growth. For more information, please visit
http://www.OFII.org . |
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