News – DEED Seeks to Attract Foreign Investment to Minnesota

Trade Director Meets Delegation from China’s Consulate General

Kathleen Motzenbecker with Chinese Delegation
Pictured left to right: Guo Jinyeu (vice consul for political and press affairs); Kathleen Motzenbecker; Deputy Consul General Liu Jun; Li King Feng (Minnesota Trade Office); Li Han, (consul for political and press affairs).

Minnesota Trade Office Executive Director Kathleen Motzenbecker met this week with a delegation from the Chinese Consulate General in Chicago.

One of the topics discussed: The desire to increase Chinese investment in the state. Chinese FDI in Minnesota reached about $514 million in 2014. Wuxi AppTec, CAIGA-Cirrus Aircraft and wind-power generator GoldWind are among the Chinese-owned companies here.

Selling the World on Minnesota

MN LogoEfforts to entice foreign-owned companies to invest in new or expanded operations in Minnesota are in full swing in at DEED’s Office of Foreign Direct Investment and among other regional and local economic development officials.

And there’s a renewed sense of purpose and vigor as we’re working together to pitch Minnesota as the best location for foreign-owned enterprises looking to establish headquarters or major operations in North America.

It’s All About Job Creation

Laurence ReszetarWhy the emphasis on attracting foreign companies? Simple. More foreign investment equals more jobs for Minnesotans.

Few people realize that about 101,000 Minnesotans already owe their jobs to foreign companies that have invested billions in about 720 affiliates statewide.

“These jobs tend to pay more,” says Laurence Reszetar, who heads Minnesota’s Office of Foreign Direct Investment. “They’re also very stable and they’re in advanced industries where we want to be.”

Touting key industry strengths and logistical advantages, Reszetar and other officials are working hard to raise Minnesota’s profile and increase the state’s share of foreign direct investment over the next few years.

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