As Select CLT, the business recruitment arm of the CLT Alliance, closes out a busy year of travel, both domestic and international as well as conference attendance, Foreign Direct Investment (FDI) remains crucial for the prosperity of the Charlotte Region and the work the team does in economic development. With over 1,000 international businesses and 80,000 international employees, cultivating a strong international business ecosystem is vital for a thriving and diverse economy.
Recently, the team hosted the Q4 Select CLT Quarterly Meeting with a panel, featuring key CLT Alliance investors who shared insights and discussed FDI in the region and strategies for best practices in attracting foreign investment. The Panel included Brad Brogdon with Gensler, John Norman with GreerWalker CPAs and Advisors, Chris Kouri with Maynard Nexsen PC, and Daniel Andrepont with Management inSites who served as the moderator.
Danny Chavez and Eduardo Venegas headed out this week for the team’s final international trip to the Slush Conference in Helsinki, Finland, a conference focused on startups and boasting the world’s largest gathering of venture capitalists. The team will wrap up the year with a total of 53 marketing trips, 11 of which were to international destinations to support Select CLT’s FDI efforts.
To aid the planning and strategy of the team’s travel for the next year, Select CLT has unveiled a 3-year FDI strategy. Derived from a market analysis, select countries were shortlisted as target markets and 5 sectors (automotive components, food and beverage, metals and minerals, pharmaceuticals, and software and IT) were chosen as target industries for FDI. These identified countries and sectors will form the foundation for Select CLT’s 2024-2027 FDI strategy, leveraging travel and existing relationships to grow lead generation for potential new projects that provide capital investment, job creation and economic opportunity for the Charlotte Region.
Currently 43% of Select CLT’s project pipeline for 2023 are international companies coming from a variety of countries including Germany, India, Finland, Tunisia, and Peru. Germany leads in FDI in the region with over 213 existing companies. Assets like the Charlotte Douglas International Airport with its strategic location and more than 35 international flight destinations coupled with an intermodal facility and proximity to the ports of Wilmington, Savannah, and Charleston, connect the region to major global business hubs. These have become key selling points for the Select CLT team as they pitch the Charlotte Region across the globe.
Foreign Trade Zone #57 offers additional opportunities to encourage international trade. Every year, new international businesses and residents contribute to a growing international scene. Thirteen international consulates, eight internationally focused or foreign-language schools and countless cultural organizations support our region’s foreign-born population of more than 250,000 people. These resources, combined with our affordable quality of life, make the Charlotte Region an attractive destination for international businesses.
The Charlotte Region and Select CLT are ready to welcome more international companies for ongoing global engagement and economic growth within a culturally diverse environment. The team looks forward to 2024 and all of the opportunities FDI can offer the region.
