The number of Tennesseans working for foreign-based employers jumped by more than a third in the past five years, placing Tennessee as the second fastest-growing state for employment from foreign direct investment, according to a new report.
The Global Business Alliance, a business coalition that advocates for international investment and trade, said Thursday that Tennessee ranked No. 2 behind only Minnesota in the growth of jobs in the state from foreign-based employers. Driven by the growth in Tennessee’s global automotive industry and as major global shipping center, Tennessee has more than 203,000 workers – including 92,300 employees of manufacturing plants – employed by businesses headquartered outside of the United States.
“As the home of the Western Hemisphere’s busiest cargo airport, Tennessee is a natural magnet for investment from global companies looking for a combination of skilled workforce, strong business climate, and unmatched commercial infrastructure,” said Nancy McLernon, CEO of the Global Business Alliance.
According to the latest government data, the number of Tennesseans employed by foreign-headquartered companies investing in the U.S. grew by 33.4% over the past five years and Tennessee is now home to more than 860 global companies operating plants, offices, and other facilities across the state.
Although many of Tennessee’s top elected officials have complained about immigrant workers illegally coming into the state, the Tennessee Department of Economic and Community Development, the state’s business recruitment agency, courts foreign direct investment with offices in Japan, South Korea, Ireland, France, Spain, Austria, Germany, Switzerland, Italy, and the United Kingdom.