Thursday, Sept. 13, 2018
Governor departs this week for 8th investment mission to China
LANSING, Mich. – Gov. Rick Snyder today announced he departs this week for another foreign investment mission, sharing that he will lead a delegation to China to conduct meetings with high-level elected officials and business leaders on topics including manufacturing, mobility technology, agriculture exports and tourism.
“The value of building relationships with other nations cannot be overstated,” Gov. Rick Snyder said. “Michigan has benefited immensely from partnerships we have established and strengthened over the last eight years. Incredible advancements in manufacturing, mobility and agricultural technology are taking shape not just here in Michigan but all over the world, and by matching with foreign companies that have similar goals, we ensure we are partners rather than competitors, creating new jobs for Michiganders and increasing our exports to nations all over the world.”
This trip marks the Snyder administration’s 29th foreign investment mission. Other missions led by Snyder or Lt. Gov. Brian Calley have included France, Japan, South Korea, Canada, the Netherlands, Brazil, Mexico, Latvia, Israel, Chile, Colombia, India, Switzerland, Germany, Italy, Ireland, Austria, and the United Kingdom.
The missions have resulted in hundreds of millions of dollars of investment in Michigan by foreign companies, adding thousands of jobs to Michigan’s workforce. Major foreign investments from countries visited by the Governor or Lt. Governor include:
Overall, 406 foreign direct investment projects were created in Michigan between January 2011 and August 2018, resulting in 51,596 jobs. Those projects generated a total capital investment of $12.7 billion. Additionally, Michigan saw a 24 percent increase in international travel spending from 2011-2017, with international travel spending in Michigan hitting $2.2 billion in 2017.
In 2018, Michigan ranked third in the nation for number of investment projects from China. Michigan also ranked first in the Midwest for number of jobs created by Chinese investment. Since Snyder’s first visit to China in 2011, Michigan received $1.21 billion in new investment from China, resulting in 6,304 jobs for Michigan residents.
The relationship-building with China has led to a boom in another one of Michigan’s key industries – tourism. The number of international visitors from China between 2011 and 2017 increased 84 percent. International travel spending in Michigan increased 24 percent from 2011 to 2017. In 2017, international travel spending was $2.2 billion, with Chinese visitors spending $354.2 million. They were second only to Canadians, who spent $405 million.
Recent Chinese investments in Michigan that are the result of missions taken by Gov. Snyder include:
China is Michigan’s third-largest export market, with exports valued at $3.67 billion in 2017.
Three of the companies participating in the MEDC-led trade mission to China have joined previous China trips. Corrigan Air & Sea Cargo also participated in 2014 and 2016 and the company has seen an increase in sales as a direct result of the trips, according to Corrigan Vice President Michael Murphy.
“We began working with MEDC about five years ago because we wanted to further develop our business in China, but had a difficult time finding the right customers and partners. The MEDC’s International Trade program is well-designed, organized, and developed to help companies make the connections to Chinese companies,” Murphy said. “We hope the trade mission programs will be continued after Gov. Snyder leaves office.”
While Gov. Snyder is in China, Michigan Department of Agriculture Rural Development Director Gordon Wenk will lead a separate trade mission, helping connect a number of Michigan food and agriculture companies and commodities with Chinese buyers.