FT News Briefing FTNB Live: The best US cities for foreign investment
Nov 11, 2023
Amanda Chu, the FT's U.S. energy correspondent, dives into the recent ranking of U.S. cities for foreign investment. Houston has surged ahead of Miami, thanks to its strong business climate and dual role as an oil hub and clean tech center. The discussion also unveils Miami's slip in rankings, attributing it to rising housing costs and methodological shifts. Additionally, the importance of diversity and the impact of climate risks on city attractiveness for investment are explored, shedding light on the evolving landscape for foreign investors.
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Why Houston?
- Houston's top ranking reflects the U.S. economy's industrial shift, driven by policies boosting semiconductor and clean energy production.
- Houston's strength lies in its balance of a business-friendly environment, affordability, strong infrastructure, and a skilled workforce.
Miami's Drop
- Miami dropped from first to sixth place due to methodology changes and increased housing and office costs, impacting its quality of life score.
- Miami still attracts significant foreign direct investment despite the drop, showing the city's continued appeal.
Using the Ranking
- City policymakers should analyze the ranking data to understand their city's strengths and weaknesses for foreign investment.
- Investors can use the list as a starting point for their site selection process, then tailor it to their specific needs.