FDI Strategy Encourages Investment Throughout the State
Foreign investment is humming right along nationwide. After a slight drop during the Great Recession, investments are strong once again, topping $373.4 billion nationwide. Washington State is focused on attracting quality investments that support our key sector strategy and which will contribute to prosperity and economic growth throughout the state. Part of the Office of Economic Development and Competitiveness, the FDI team markets the state to potential investors worldwide.
Attracting foreign investment in Washington State projects often requires years of networking, meetings and follow-ups.
The key to success is building personal relationships and demonstrating that Washington State is an ideal fit for a particular project or investment strategy to international audiences of key decision makers.
Even though this level of relationship building can take years, even decades, to get a return on the investment, the Department of Commerce’s FDI team has managed to make solid inroads over the last few years.
In addition to working on some major projects, such as the $1.8 billion investment by Innovation Works in new facilities in Kalama and Mitsubishi’s new MRJ-90 aircraft flight test center in Moses Lake, the Department of Commerce has vetted and produced a portfolio of investment projects in several languages. This portfolio, which features approximately 50 projects, has been introduced at more than a dozen U.S. and international shows, including trade missions to Japan, Korea and China.
Baltic Crystal makes $3.6 million investment
The Department of Commerce teamed up with the Camas-Washougal Economic Development Association and CREDC to attract Latvia-based Baltic Crystal to the Vancouver area.
The $3.6 million acquisition will involve updatng the existing facility and hiring 70 new employees to continue the manufacture of fabricated sapphires for the high-tech and aerospace sectors.
AstaReal Technologies – The Fuji Chemical subsidiary opened a factory in Moses Lake to produce a new antioxidant supplement that supports joint and skeletal health. Jobs created: 45.
Booking.com – Opened its third U.S. customer service office in Bellevue that will serve Asian and Pacific Rim markets. The Amsterdam-based company is creating up to 350 new jobs.
Conair/Aero-Flite – Opened a base to repair and maintain its fleet of aerial firefighting aircraft in Spokane. The Canadian company employs 65 at the facility.
Fokker Aerostructures – Opened a new facility in Mukilteo to support the region’s aerospace supply chain with lightweight structures. The Netherlands-based company created 70 new jobs.
MTorres – The Spanish supplier of high-tech automated equipment for the aerospace and paper industries opened a new assembly and integration facility in Everett and its U.S. headquarters in Bothell. Total employment: 100.
Overview of Washington State
Washington Investment Portfolio
Contact the Foreign Direct Investment team in the Office of Economic Development and Competitiveness at 206-256-6100.
Or visit ChooseWashington.com to learn more about business and investment opportunities in Washington State.