CHARLESTON METRO FDI PLANCharleston | SC | USA

WHY FDI IS IMPORTANT

1. DEEPEN AND DIVERSIFY THE REGION’S PORTFOLIO OF FOREIGN INVESTMENT, primarily focused on the metro’s high-impact clusters

2. EFFECTIVELY INTEGRATE NEW FOREIGN COMPANIES AND FOREIGN NATIONALS into the Charleston

metro community

3. Orient the region’s ENTIRE ECONOMIC ECOSYSTEM toward DYNAMIC ENGAGEMENT WITH AND RESPONSIVENESS TO global competitiveness and foreign investment

FIVE-YEAR OBJECTIVES

ACTION PLAN

GOAL

Outbound FDI Attraction Efforts

STRATEGY #1: ENGAGE OEMS AND TIER 1S TO DRIVE NEW OUTREACH EFFORTS» Example Tactic: Local OEM / Tier 1 coordination campaign for automotive and aerospace

STRATEGY #2: ACTIVATE INDUSTRY NETWORKS LOCALLY AND ABROAD» Example Tactic: Expand international outreach for high-tech clusters (IT and med tech)

Local Support & Integration

STRATEGY #3: EVOLVE LOCATION SUPPORT AND AFTERCARE » Example Tactics: Launch and expand Landing Pad program to support first-time market entry and small

FDI projects; create an M&A Council to support mergers and acquisitions

STRATEGY #4: CULTIVATE GLOBAL FLUENCY ACROSS ECONOMIC ECOSYSTEM» Example Tactic: Develop and launch international cultural sensitivity and awareness program for

hospitality, public sector, and business communities

STRATEGY #5: EXPAND THE COMMUNITY’S RESOURCES TO SUPPORT AND INTEGRATE FOREIGN NATIONALS» Example Tactic: Create a volunteer corps of ambassadors willing to connect with new foreign nationals

in the region

Global Ecosystem & Connectivity

STRATEGY #6: CONNECT HOSPITALITY AND FDI ATTRACTION COMMUNITIES» Example Tactic: Create a Coordinating Council on Hospitality and Investment to help connect

stakeholders and to establish methodologies for information sharing and joint programming

STRATEGY #7: COORDINATE LEADERSHIP FOR KEY INTERNATIONAL BUSINESS RESOURCES AND ACTIVITIES» Example Tactic: Establish a Charleston International Cultural Center to help engage and support

foreign nationals

Driven by a regional strategy and years of collaborative, consistent work by local leaders, the Charleston metro continues to gain economic momentum. Global trade and investment are driving the region’s continued success. From the Port of Charleston to the automotive industry to tourism, Charleston’s industries are global in nature — with international competitors, supply chains, R&D, and talent.

Our growing, evolving economy has created incredible opportunities across the metro, but it also brings new challenges. To remain globally competitive and sustain our momentum, our regional strategy must also evolve. This requires a more comprehensive approach to our international engagement. Attracting and supporting foreign direct investment (FDI) is a foundational element of our region’s global competitiveness.

For the economic health and well-being of our entire three-county region, we must ensure Charleston offers what multinational corporations need to succeed. As part of the One Region Global Competitiveness Strategy, the CHARLESTON METRO FDI PLAN will help our community better attract, support and integrate foreign-owned companies and foreign nationals.

TO ENHANCE THE CHARLESTON REGION’S ABILITY TO ATTRACT FDI AND TO MAXIMIZE THE OVERALL ECONOMIC AND COMMUNITY IMPACT OF FOREIGN COMPANIES AND FOREIGN NATIONALS IN THE METRO REGION.

By 2019, many of our region’s top employers will be foreign-owned enterprises (FOEs) in high-impact clusters, including:

SOUTH CAROLINA IS AN FDI “NATIONAL CHAMPION”(fDi Magazine 2016)

Multinational firms pay higher average

wages, invest more in R&D efforts*, and create

numerous spin-off jobs, from entry-level to the

C-suite. These companies and the jobs they

create strengthen our economy, our workforce,

and our community.

*U.S. Bureau of Economic Analysis

Flag size represents the total number of companies for each country of origin within a specific county and is not meant to show a specific location.

1-67-2829-53

CHARLESTON | SC | USA

5% 32%

PRIVATE SECTOR JOBS MANUFACTURING JOBS

IN REGION ARE FROM FOREIGN-OWNED FIRMS(CHARLESTON CENTER FOR BUSINESS RESEARCH 2016)

Charleston Metro FDI Plan Steering Committee

Pennie Bingham World Trade Center Charleston Barry Jurs Berkeley County Economic Development

Alan Bolduc Avison Young Andrea Kozloski BCD Council of Governments

Gary Breit City of Charleston Economic Development Amy Livingston Town of Mount Pleasant

Laura Bright Charleston Metro Chamber of Commerce Micah Mallace SC Ports Authority

Hal Burton Premier Logistics Solutions Jemie Meachum Bank of America Merrill Lynch

Mark Cowan Cowan Strategies Phil Minard US Department of Commerce

Steve Dykes Charleston County Economic Development Ron Mitchum BCD Council of Governments

Jenna Edwards Charleston Regional Development Alliance Fred Monk South Carolina Department of Commerce

Morris Ellison Womble Carlyle Sandridge & Rice George Morrison McNair Law Firm

Stani Fowler Dixon Hughes Goodman LLP Rene Mueller College of Charleston

Elizabeth Gibbes Parker Poe Adams & Bernstein LLP Devin Patro Wells Fargo

Claire Gibbons Charleston Regional Development Alliance Jacki Renegar Charleston Center for Business Research

Ford Graham South Carolina Department of Commerce Terrance Rivers readySC

Mary Graham Charleston Metro Chamber of Commerce Geoff Schuler The Boeing Company (retired)

Mike Graney Charleston Regional Development Alliance Angelyn Thomas Smith SC Power Team

Jeff Henry JP Morgan Chase Wendy Smith Dorchester County Economic Development

Sam Hines K&L Gates Clarke Thompson South Carolina Department of Commerce

Katie Holba Charleston Regional Development Alliance John Truluck Dorchester County Economic Development

Merle Johnson Charleston County Economic Development Steve Warner Charleston Regional Development Alliance

Brent Jonas Charleston Regional Development Alliance

JENNA EDWARDSCharleston Regional Development AllianceDirector, Global Business Development

jedwards@crda.org | 843.760.4525

PENNIE BINGHAMWorld Trade Center CharlestonExecutive Director

pbingham@charlestonchamber.org | 843.805.3073

GET INVOLVED

9TH

9TH FOR FOREIGN DIRECT INVESTMENT INTENSITY

(Brookings 2015)

Based on FOE Employment

(fDi Magazine 2015)

Based on promoting FDIFOR FDI STRATEGY

CHARLESTON’S RANKING AMONG U.S. METROS