States Aggressively Court Foreign Companies

Charges of “terrible” trade deals, the shipping of jobs overseas and the dangers of globalization dominated the presidential campaign. But many states are aggressively courting foreign companies to boost and diversify their economies.  “People make it too complicated,” said Michigan’s Republican Gov. Rick Snyder, a big proponent of foreign — especially Chinese — investment in his state. “Globalization is clearly a huge trend that’s been going on for some time and is only going to continue. If you want to be a strong economic engine … you have to engage.”  In Snyder’s and other Rust Belt states, U.S. manufacturers left behind willing workforces and abandoned buildings when they departed. In California, foreign tech giants and pharmaceuticals are tapping a supply of skilled workers and access to North American markets.  Many states and regions are looking for foreign investors as a way to boost economic growth. At the same time, there is increasing interest among overseas firms in investing in the relatively stable U.S. economy