Direct investment by foreign companies in state spotlight
Nevada officials this week will turn the spotlight on the importance of the investments made in the state by foreign companies.
The state estimates that foreign-owned companies have invested more than $7.2 billion in the Silver State, and those investments have created jobs for about 30,000 Nevadans.
Japan accounts for the largest number of foreign-owned companies in operation in Nevada.
One of them, Taiyo America in Carson City, will host an “Invest in America Week” event on Monday. Earlier that day, a similar event is scheduled at the Las Vegas facility of JCM Global Corp.
Companies from the United Kingdom, France and Canada also have made direct investments in plants and other facilities in the state, the Nevada Commission on Economic Development says.
A spokeswoman for the Commission on Economic Development noted that direct foreign investment creates jobs, boosts exports from the United States as the foreign-owned facilities in Nevada ship goods around the world, bring new technology and skills to the state and contributes to rising productivity.
The event at Taiyo America begins at 3 p.m. and will include representatives from the U.S. Department of Commerce, the state’s Congressional delegation and state officials. Reservations are required by calling the Commission on Economic Development at 687-4325.
Taiyo America, which has been in operation in Carson City since 1995, is a Japanese-owned company that produces solder masks used in the production of printed circuit boards.
“I point out many cases of where privately owned companies do just as bad a job as publicly owned companies,” says Reno resident and former teacher Robert (R.D.) Gardner.