Foreign companies operating in Texas grew jobs in the Lone Star State by 21% in the five years that ended in 2019, a new report shows.  The report released earlier this month by the Global Business Alliance trade group shows foreign direct investment (FDI) accounts for more than 678,000 jobs in Texas, with roughly 30% of those in the manufacturing sector. Roughly 1,820 international companies have operations in Texas and firms based in the United Kingdom, Japan and France support the largest number of FDI jobs in the state.  The 21% increase in FDI employment between 2014 and 2019 outpaced overall private sector employment in Texas, which grew by just 12% during the period. International companies account for about 6.2% of the state’s total employment, higher than the U.S. average of 5.9%, the report shows.  Nationwide, FDI supported 69% of the new manufacturing jobs created in the five-year period. Overall FDI employment in the U.S. increased 20%, compared with a 9% increase in private sector employment. Firms from Japan, Canada, Germany, the U.K. and France lead the way in foreign direct investment in the U.S.  With two international airports and the nation’s No. 1 port by tonnage, Houston is Texas’ global gateway. Roughly 1,700 firms operating in the region report foreign ownership and 92 countries have a consulate or other official government representation here. Nearly $197 billion in trade moved through Houston in 2020.  In March, Houston ranked No. 19 on the Global Cities of the Future list from fDi Intelligence. Houston was one of only two U.S. cities on this year’s list, which ranks major global cities based on foreign direct investment.  Learn more about international business in Houston.   

In this episode of Bayou Business Download  we discuss the state of the global economy and its impact here in the Houston region. We’ll touch on the breadth and depth of Houston’s international business ties and what those mean as we work to recover from the pandemic induced recession. We're joined by Patrick Jankowski, Senior Vice President of Research at the Partnership.   Topics covered include:  The evolving impact of the pandemic around the world  What economists got right and wrong about the global economy's trajectory a year ago How foreign direct investment changed in Houston in 2020  The forecast for Houston's top trading partners  The likelihood of international economic growth in the year ahead    Read the Partnership's recent Global Houston reports analyzing our trade ties and the trajectory of international business and additional more data and analysis.