Posted by: Carly Schroer
More than 200 Japanese business leaders learn about Tennessee’s business advantages
TOKYO, JAPAN – During an economic development trip in Asia, Tennessee Gov. Bill Haslam and Economic and Community Development Commissioner Randy Boyd along with the Japan External Trade Organization (JETRO) co-hosted an investment seminar focused on Tennessee’s business advantages on Wednesday in Tokyo, Japan. The seminar was attended by more than 200 business leaders in the manufacturing, logistics, government and construction sectors.
During the seminar, presentations were made by Mr. Fumitaka Nishimura, general manager of manufacturing for the strategy planning department of Nissan Motor Company, and Mr. Yusuke Uemura of the Nippon Steel & Sumikin Materials management team. Nissan’s history with the state of Tennessee dates back to 1983, while Nippon Steel & Sumikin Materials, a metal substrate manufacturer, located its first U.S. facility in Fayetteville in January.
“Tennessee’s relationship with the Japanese business community is historic. As Tennessee’s largest foreign investor, Japanese investment is responsible for more than half of the state’s total foreign direct investment,” Haslam said. “We are honored to have Japanese companies contribute so much to the state, and our goal is to help both existing and new Japanese companies thrive in Tennessee as we continue the tradition of our successful partnership with Japan for years to come.”
“There are 184 Japanese companies in our state, employing more than 48,000 Tennesseans,” Boyd said. “We are fortunate that these companies have invested nearly $18 billion in capital investment in Tennessee, but there is always more work to do. I hope to continue to strengthen our relationship with Japan, while Japanese companies continue to find success in Tennessee.”
The event was co-hosted by JETRO, a TNECD partner. JETRO works to promote mutual trade and investment between Japan and the rest of the world. Originally established in 1958 to promote Japanese exports abroad, JETRO’s core focus is to promote foreign direct investment into Japan and helping small to medium-size Japanese firms maximize their global export potential. In February 2016, JETRO and Select USA signed a Memorandum of Understanding to further promote two-way investment between the United States and Japan.
The Tennessee investment seminar is the final event of the economic development trip that also included recruiting stops in Korea and China.
About the Tennessee Department of Economic and Community Development
The Tennessee Department of Economic and Community Development’s mission is to develop strategies which help make Tennessee the No. 1 location in the Southeast for high quality jobs. To grow and strengthen Team Tennessee, the department seeks to attract new corporate investment in Tennessee and works with Tennessee companies to facilitate expansion and economic growth. Tennessee is the only three-time winner of “State of the Year” for economic development by Business Facilities magazine. Find us on the web: tnecd.com. Follow us on Twitter: @tnecd. Like us on Facebook: facebook.com/tnecd.