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Industry Briefing Highlights KC’s Success as a Beacon for Global Investment

KC SmartPort’s annual industry briefing showcased global economic trends and growing development in the Kansas City area. Photo courtesy of KC SmartPort.

Posted April 12, 2024

KC SmartPort hosted its annual industry briefing Wednesday, bringing together over 650 industrial leaders and highlighting the Kansas City region as a center for global investment.

Industrial leaders from the surrounding Kansas City region and beyond united at the Kansas City Convention Center to learn about future global investment in North America and its impact on U.S. industrial development, supply chain and workforce trends.

The event features several guest speakers to discuss these trends. In attendance was Bernard Baumohl, chief global economist for The Economic Outlook Group, who affirmed project activity in North America is growing.

“Construction spending in U.S. manufacturing has taken off since the passage of legislation including the Inflation Reduction Act (IRA) and the CHIPS Act, contributing to growing economic activity that’s gaining ever-more attention from companies around the globe,” Baumohl said. “The significant growth in U.S. jobs is attributable to reshoring and an increase in FDI, with U.S. employment in manufacturing now exceeding pre-pandemic months – and that will continue to rise.”

Last year, the U.S. ranked as the world’s top destination for foreign direct investment for the 12th consecutive year, according to the latest index from global management consulting firm Kearney.

The Kansas City region also shared time in the spotlight at the event, having already become a beacon for investment projects from Google, Panasonic, Meta, URBN, Ace Hardware and TAB Batteries.

In Nov. 2023, Kansas City ranked 15th among the best U.S. cities for foreign investment, according to a study from Financial Times & Nikkei.

“Industrial corporations from around the world are seeking the best ways to optimize their operations, looking more and more at North America. Cost of power and labor, supply chain disruptions and government policies all play into companies’ decision of where to invest and grow,” said David Hickey, global managing director of Hickey & Associates and featured speaker at the event. “The strategic advantages of Kansas City including prime location and transportation infrastructure position it well for continued foreign direct investment.”