States can utilize Foreign Direct Investment (FDI) missions to attract major international companies. By targeting manufacturers on overseas FDI missions, the Governor, mayors, and business leaders can strengthen the economy and continue to bring jobs to the state.
For example, Virginia’s 2013 Going Global campaign sends defense contractors overseas to pitch their knowledge and expertise to potential customers. This campaign has resulted in new contracts and partnerships in countries such as Australia and Brazil, ultimately connecting international firms with opportunities to export their skills into the state.
States can attract FDI by providing policy certainty to companies interested in making a large investment, as well as partnering with workforce development programs at local community colleges or sponsored research programs at local universities.