A report from Global Business Alliance shows that foreign-based companies are key drivers in the Delaware economy.
A Delaware state data analysis examines the economic impacts and job creation resulting from inbound foreign direct investment in the state, as well as a national trends analysis.
Foreign-owned companies have reduced headcount by about 1.2% over the past five years in Delaware. That’s lower than figures for neighboring states, such as Pennsylvania.
Job gains by foreign-owned companies have occurred in Sun Belt states and in neighboring Maryland.
According to the latest BEA data, nearly 25,000 workers in Delaware are employed by international companies, with 28 percent of those workers having jobs in the manufacturing sector.
Over 400 international employers have operations in Delaware, with the United Kingdom, the Netherlands, and Germany supporting the largest number of jobs.
Foreign-owned companies in Delaware include AstraZeneca, poultry processor Allen-Harim, and Fujifilm.
“Global investment has created thousands of jobs for workers in Delaware,” said Nancy McLernon, CEO of the alliance. “When international companies invest in America, they cast a vote of confidence in our workforce and economy. Global investment strengthens America’s economy and makes it more resilient by fueling innovation, bolstering America’s manufacturing sector, exporting American-made goods, and creating high-quality, good-paying jobs.”
Nationwide, international companies employ 7.9 million Americans and pay 10 percent higher wages and benefits than average, the alliance reported.
Find the full analysis by state log on to GlobalBusiness.org/In-Your-State.
