It's a small world after all.
With economic recovery blooming at various rates worldwide, paradigms for business success are shifting, ushering new ideas, including the realization the Global Marketplace is the new frontier - and it's here to stay. No longer is the concept of a global economy a concern reserved for large corporations and conglomerates; forward-thinking municipalities, regions and states are coming to understand the value of Foreign Direct Investment (FDI) and the City of Riverside is proud to lead the way for the Inland Region.
With eight Sister Cities and ties that that stretch back decades, the City of Riverside has long been a proponent of taking business relations to a global level. Now, according to a recent Moody's Report, Riverside is the #1 city in the County when it comes to attracting Foreign Direct Investment. We are home to 110 internationally-owned businesses and growing.
Foreign Direct Investment has important long-term implications for our local economy, not the least of which is jobs creation. Riverside's foreign-owned businesses currently employ 2,471 people, and have an annual payroll of $ 84 million. The 2011 US Department of Commerce notes that investment by foreign companies not only provides jobs, but good compensation: up to 30% higher pay than non-FDI supported companies.
The summary goes on to define Foreign Direct Investment as a win-win as businesses share technology, best practices and provide new sources of capital for growth. Additionally, Foreign Direct Investment opens doors to new markets and reduces barriers between countries, creating export and import opportunities for small and medium sized businesses in our region.
Want to learn more about how to become a part of the global economy? Click here for more information on available resources.