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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowResults released today from an Indiana University study show that the state is one of the nation’s biggest beneficiaries of foreign investment.
Firms in which a foreign investor or company had at least a 50-percent stake accounted for 4.6 percent of Indiana’s total private-sector employment in 2006, ranking the state ninth and above the national average of 3.5 percent.
About 148,000 Hoosiers worked for foreign-owned U.S. affiliates in 2006, up from 140,000 the previous year, the report said.
The Indiana Business Research Center at IU’s Kelley School of Business conducted the study for the Indiana Economic Development Corp. The study is based on the most recent data available from the Bureau of Economic Analysis and investment announcements made by foreign-owned companies.
Manufacturing jobs are a big reason for the growth, accounting for 64.8 percent of employment by foreign-owned affiliates – trailing only Arkansas. Further, it is estimated that those manufacturers account for one of every six manufacturing jobs in the state.
Most of the investment, 65 percent, is from European companies. But Japan is the single-largest investor, accounting for 22 percent of the total. Its percentage is expected to increase, because Honda’s $550 million plant in Greensburg opened after researchers compiled statistics.
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