FOR IMMEDIATE RELEASE
June 18, 2024
Economic Development Contact: Jennifer Coronado
Email: JCoronado@GlendaleCA.gov
Phone: (818) 548-2005
City Media Contact: Stephanie Mkhlian
Email: SMkhlian@GlendaleCA.gov
Phone: (818) 550-4424
Glendale Seeks to Increase Foreign Direct Investment to Create Greater Economic Opportunity for the City
Glendale, CA – The City of Glendale announces its ongoing efforts to attract valuable foreign direct investment (FDI), aiming to boost economic prospects, enhance business opportunities, and foster job creation, thereby enriching the lives of our community.
According to a 2022 report from the California Governor’s Office of Economic Development, there are over 1,400 jobs supported by FDI and over 90 foreign-owned enterprises in Glendale. The top foreign direct investment markets where Glendale has attracted most of its foreign-owned enterprises are from the United Kingdom, France, Japan, Switzerland, Canada, the Philippines, Germany, the Netherlands, Australia, Luxembourg, Bermuda, and South Korea.
“Pursuing FDI is a viable way to bring more business opportunity to the city. When you look at the numbers, it underscores why the city wants to increase connections with global partners. We can help create international market access for our local businesses while attracting more foreign investment overall,” said Glendale Director of Community Development Bradley Calvert.
Southern California is already a pivotal location for FDI. The region’s 10 counties serve as the primary destination for the state’s foreign direct investment, hosting over 11,000 foreign-owned enterprises and employing more than 400,000 Californians, according to the World Trade Center Los Angeles 2023 FDI Report.
In Glendale, the sectors that have brought the greatest FDI into the city include retail trade, finance and insurance, administrative support, professional services (including scientific and technical services), and wholesale trade. International companies currently operating in Glendale include Great West Financial, PCL Construction, Addeco, Sodexo, and Airgas.
An important strategy to promote Glendale’s business advantages will be the June 2024 SelectUSA Investment Summit. Recognized as the highest profile event in the United States to facilitate business investment, the summit connects thousands of investors, companies, economic development organizations, and industry experts.
To further round out its FDI strategy, Glendale has eleven sister city relationships with international cities located in Mexico, Dominican Republic, Armenia, South Korea, Japan, and the Philippines. These strategic relationships foster economic growth and development because they are a continuous opportunity to interact with government and business leaders to promote Glendale as a premier investment location.
“We are dedicated to growing our local economy. By promoting our business advantages to international partners, we can elevate Glendale’s innovation opportunities,” said Glendale Deputy Director of Economic Development Soua Vang.
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About Glendale: Glendale is one of the largest cities in Los Angeles County, with a population of 200,000+. Glendale is a thriving cosmopolitan city that is rich in history, culturally diverse, and a bustling downtown that is home to many corporate headquarters and tech giants, two first-class regional shopping malls, and a walkable Arts & Entertainment District with endless fine dining opportunities. Visit ChooseGlendaleCA.com for more information about Economic Development in Glendale or connect on X, Instagram, and Facebook @ChooseGlendale.
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