Feb 4, 2022
Chris Lloyd Discusses Foreign Investment in U.S., Economic Recovery
In a Jan. 26, 2022, Q&A with Investment Monitor, McGuireWoods Consulting senior vice president and director of infrastructure and economic development Chris Lloyd provided insights on the strong levels of foreign direct investment (FDI) in the United States.
FDI activity crashed during the pandemic, but since 2020, he said, “The U.S. economy has recovered much more quickly than expected, and quicker than others, so we are seeing an acceleration of some trends and industries that were already strong pre-COVID-19.”
Chris, who serves as chairman of the Site Selectors Guild, also noted that individual states are targeting specific industries, such as semiconductors, electric vehicles, food and beverage, and life sciences companies. Hospitality and tourism are expected to make a strong recovery, he said, but office and retail construction are particularly weak.
Southern states — especially Arizona, Florida, Georgia, South Carolina, Tennessee and Texas — have been on foreign investors’ radar for some time and became more popular during the pandemic. Chris said President Biden’s “return to normality” has been popular with foreign investors, though the United States is still working on that return.