Glendale is setting its sights on global markets to ramp up its local economy, seeking more foreign direct investment (FDI) that promises to create job opportunities and business growth in the city. An official city announcement focused on the desire to enhance Glendale's economic footprint through partnerships with international corporations, pointing to the over 1,400 jobs FDI supports in Glendale and the presence of over 90 foreign-owned enterprises within the city limits.
Key investments have come from countries such as the United Kingdom, France, and Japan, to name a few. According to the California Governor’s Office of Economic Development 2022 report, these relationships highlight how critical FDI is to the local workforce. “Pursuing FDI is a viable way to bring more business opportunity to the city," Bradley Calvert, Glendale Director of Community Development, told the city's news publication. "When you look at the numbers, it underscores why the city wants to increase connections with global partners."
This push for more FDI comes against the backdrop of Southern California's already significant role as a host for investors, with over 11,000 foreign-owned companies operating in the region's 10 counties. The World Trade Center Los Angeles reports these companies employ upwards of 400,000 Californians. Retail trade, finance and insurance, administrative support, professional services, and wholesale trade are Glendale's strongest sectors for FDI, featuring international names such as Great-West Financial and PCL Construction.
An upcoming event in June 2024, the SelectUSA Investment Summit, is set to be key in Glendale's strategy to attract foreign investment. Recognized as America's foremost event facilitating business investment, the summit is a crash course in networking, bringing investors face-to-face with companies and economic development organizations. “We are dedicated to growing our local economy. By promoting our business advantages to international partners, we can elevate Glendale’s innovation opportunities,” Soua Vang, Glendale Deputy Director of Economic Development, noted in a statement.
Additionally, leveraging its sister city relationships, Glendale has established connections with cities in Mexico, the Dominican Republic, Armenia, South Korea, Japan, and the Philippines. These alliances aim to bolster economic development and present Glendale as a prime location for investment, forging continuous interactions with government and business figures across the globe.
