The Carolina Business Review recently gathered a panel of economic development experts, including Womble Carlyle’s own John Hunter, to discuss the significance of foreign direct investment in North and South Carolina and the potential challenges it faces.
American subsidiaries of global companies are responsible for nearly 360,000 jobs in North and South Carolina, according to the Organization for International Investment. Some worry political shifts toward isolationism, such as the election of President-elect Donald Trump and the U.K.’s decision to leave the European Union, could threaten the growth of foreign direct investment in the U.S. Hunter, a 20-year veteran economic developer and partner in Womble Carlyle’s Charlotte office, told CBR host Chris William the Southeastern U.S. will continue to be a draw for foreign companies.
“Business is business,” he said. “This market is still the number one consumer market in the world…the market itself, the education system, the entrepreneurial spirit, the dollar is still key, this market is still going to attract that kind of investment.
Joining Hunter on the panel were Christopher Chung of the N.C. Economic Development Partnership, Mark Ferris of the Greenville Area Development Corporation, and Andrew Tate of the Henderson County Partnership for Economic Development.