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Overview of BEA’s State-level Data on Foreign Direct Investment in the United States Daniel R. Yorgason Understanding Regional Economic Data for Policy.

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Presentation on theme: "Overview of BEA’s State-level Data on Foreign Direct Investment in the United States Daniel R. Yorgason Understanding Regional Economic Data for Policy."— Presentation transcript:

1 Overview of BEA’s State-level Data on Foreign Direct Investment in the United States Daniel R. Yorgason Understanding Regional Economic Data for Policy and Planning BEA/ACCRADallas, Texas—September 8, 2006

2 www.bea.gov 2 BEA’s regional direct investment data  Introduction  Direct investment definition  10% ownership threshold (compare portfolio)  BEA data often focus on more than 50% (controlling) ownership cases (esp. post-2002)  Reasons for interest in direct investment data  Foreign ownership of assets in the U.S.  Globalization  Wages, offshoring, etc.

3 www.bea.gov 3 BEA’s regional direct investment data  Uses of regional direct investment data  Determining extent of “globalization” of local economy  Analyzing effects on employment, economic growth, technology and competitiveness  Assessing effectiveness of targeted local and regional policies  Tax incentives  Promotional missions

4 www.bea.gov 4 BEA’s regional direct investment data  Overview of direct investment  Two types of investment  Inward (Foreign direct investment in the United States)  Outward (U.S. direct investment abroad)  Two types of surveys  Balance of payments surveys  Financial and operating surveys  Benchmark and annual

5 www.bea.gov 5 Regional data availability  Inward financial and operating data items available by state (and country or industry)  Number of employees  Total  Manufacturing  Gross book value of property, plant, and equipment  Gross book value of commercial property

6 www.bea.gov 6 Regional data availability  Link with Census Bureau  Sources  BEA’s benchmark inward financial and operating survey  Census’ Economic Census  Census’ Business Register  Items available by state (and country and/or industry)  Number of establishments  Number of employees  Payroll  Shipments  Value added in manufacturing  State only items for manufacturing establishments  e.g., wages, hours, capital spending, inventories

7 www.bea.gov 7 Comparison of available data Issue BEA financial and operating survey Data link with Census Bureau Timeliness (most recent) 2004 1997 (2002 out by end of year) FrequencyAnnual Once every five years Responding unit EnterpriseEstablishment Industry detail 9 industries Roughly 500 industries

8 www.bea.gov 8 Accessing data  Website – www.bea.gov  Interactive data  Time series capability, key item availability  “Selected” tables  Current, high interest tables  Comprehensive sets of tables (zip files)  PDF or Excel  Publications  Survey of Current Business (e.g., August 2006 – Anderson, Zeile)  Data publications now primarily PDF (hard copy for benchmark surveys)

9 www.bea.gov 9 Interactive data from BEA

10 www.bea.gov 10 Interactive data from BEA

11 www.bea.gov 11 Interactive data from BEA

12 www.bea.gov 12 Interactive data from BEA

13 www.bea.gov 13 Interactive data from BEA

14 www.bea.gov 14 Interactive data from BEA

15 www.bea.gov 15 Interactive data from BEA

16 www.bea.gov 16 Interactive data from BEA

17 www.bea.gov 17 Interactive data from BEA

18 www.bea.gov 18 Interactive data from BEA

19 www.bea.gov 19 Interactive data from BEA

20 www.bea.gov 20 Interactive data from BEA Texas

21 www.bea.gov 21 Interactive data from BEA

22 www.bea.gov 22 Selected tables from BEA

23 www.bea.gov 23 Selected tables from BEA

24 www.bea.gov 24 Selected tables from BEA

25 www.bea.gov 25 Selected tables from BEA

26 www.bea.gov 26 Direct investment share of employment, 2004

27 www.bea.gov 27 Direct investment share of employment, 2004 Texas and neighbors

28 www.bea.gov 28 Top 5 statesTexas region states RankStateShareRankStateShare 1South Carolina7.9%26Texas4.2% 2New Hampshire7.4%38Arkansas3.2% 3Connecticut7.1%39Louisiana3.1% 4Delaware7.0%44Oklahoma2.7% 5Hawaii6.6%48New Mexico2.1% Direct investment share of employment, 2004 *** August 2006 Survey of Current Business *** Top 5 statesTexas and neighbors RankStateShareRankStateShare 1South Carolina7.9%26Texas4.2% 2New Hampshire7.4%38Arkansas3.2% 3Connecticut7.1%39Louisiana3.1% 4Delaware7.0%44Oklahoma2.7% 5Hawaii6.6%48New Mexico2.1%

29 www.bea.gov 29 Top source countries for Texas RankSource countryShare Ratio: share relative to all- U.S. share 1United Kingdom0.91%112% 2France0.46%114% 3Netherlands0.43%101% --Latin America & Other WH0.56%193% --Mexico0.15%321% Top source countries for Texas RankSource countryShare Ratio: share relative to all- U.S. share 1United Kingdom0.91%112% 2France0.46%114% 3Netherlands0.43%101% --Latin America & Other WH0.56%193% --Mexico0.15%321% Direct investment share of employment, 2004 Top source countries for Texas RankSource countryShare Ratio: share relative to all- U.S. share 1United Kingdom0.91%112% 2France0.46%114% 3Netherlands0.43%101% --Latin America & Other WH0.56%193% --Mexico0.15%321%

30 www.bea.gov 30 Top source countries for Texas’ neighbors RankSource countryShare Ratio: share relative to all- U.S. share 1United Kingdom0.46%112% 2France0.36%114% 3Germany0.30%101% --Latin America & Other WH0.34%117% --Mexico0.02%40% Top source countries for Texas’ neighbors RankSource countryShare Ratio: share relative to all- U.S. share 1United Kingdom0.46%112% 2France0.36%114% 3Germany0.30%101% --Latin America & Other WH0.34%117% --Mexico0.02%40% Direct investment share of employment, 2004 Top source countries for Texas’ neighbors RankSource countryShare Ratio: share relative to all- U.S. share 1United Kingdom0.46%112% 2France0.36%114% 3Germany0.30%101% --Latin America & Other WH0.34%117% --Mexico0.02%40%

31 www.bea.gov 31 Top 4 statesOther Texas neighbors RankStateShareRankStateShare 1North Dakota0.66%12Oklahoma0.36% 2Wyoming0.56%39New Mexico0.13% 3Texas0.56%40Arkansas0.13% 4Louisiana0.53%-- U.S. w/o Texas and neighbors 0.28% Top 4 statesOther Texas neighbors RankStateShareRankStateShare 1North Dakota0.66%12Oklahoma0.36% 2Wyoming0.56%39New Mexico0.13% 3Texas0.56%40Arkansas0.13% 4Louisiana0.53%-- U.S. w/o Texas and neighbors 0.28% Direct investment share of employment, 2004 Latin America & Other Western Hemisphere Top 4 statesOther Texas neighbors RankStateShareRankStateShare 1North Dakota0.66%12Oklahoma0.36% 2Wyoming0.56%39New Mexico0.13% 3Texas0.56%40Arkansas0.13% 4Louisiana0.53%-- U.S. w/o Texas and neighbors 0.28%

32 www.bea.gov 32 BEA-Census link data

33 www.bea.gov 33 BEA-Census link data Scroll down

34 www.bea.gov 34 BEA-Census link data

35 www.bea.gov 35 BEA-Census link data

36 www.bea.gov 36 BEA-Census link data

37 www.bea.gov 37 BEA-Census link data

38 www.bea.gov 38 Detailed industry data Texas non-manufacturing tables, 1997 250 to 499

39 www.bea.gov 39 Detailed industry data Texas manufacturing tables, 1997

40 www.bea.gov 40 Detailed industry data Texas manufacturing, UK ownership,1997

41 www.bea.gov 41 Detailed industry data Texas manufacturing, UK ownership,1997 Top 5 industries

42 www.bea.gov 42 Other regional data  Direct investment  Survey of Current Business article (May 1999) by Shannon, Zeile, Johnson  “Regional Patterns in the Location of Foreign-Owned Manufacturing Establishments”  Inward manufacturing at sub-state level  One-time study  Link with Census/National Science Foundation  R & D spending by state  Will be produced for first time using 2004 data

43 www.bea.gov 43 Direct investment share of employment, 1992 Manufacturing establishments May 1999 Survey of Current Business

44 www.bea.gov 44 Other regional data  International trade  Produced by Census Bureau  Some data freely available  e.g., State export data for recent years, Gulf ports data in wake of Katrina  www.census.gov/foreign-trade/www/index.html  Some data available at a charge  Detailed state data  Detailed port data  www.usatradeonline.gov/  www.census.gov/foreign- trade/reference/products/catalog/elec.html

45 www.bea.gov 45 Census Bureau trade data Scroll down

46 www.bea.gov 46 Census Bureau trade data

47 www.bea.gov 47 Contact Dan Yorgason Economist, Research Branch International Investment Division Bureau of Economic Analysis dan.yorgason@bea.gov 202-606-9804

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