Global Cities Initiative Announces New Cohort of Metro Areas Creating Foreign Direct Investment Plans.
Six Metros Will Create Strategy and Plan for Attracting and Leveraging FDI

January 20, 2016 (Washington, D.C.) – Today, the Global Cities Initiative, a joint-project of the Brookings Institution and JPMorgan Chase, announced the six new members selected to join the foreign direct investment cohort of the Global Cities Initiative after an extensive application process. The six metros selected include Charleston, SC; Chicago, IL; Indianapolis, IN; Louisville-Lexington, KY; Phoenix, AZ; and Wichita, KS. These six metros were selected for their readiness and commitment to strategically pursue foreign direct investment through such activities as greenfield expansions, mergers and acquisitions, and other types of foreign investment including EB-5, private equity, joint-ventures and sovereign wealth funds, as well as their ability to make foreign direct investment a central component of their larger regional economic development strategies.

Launched in 2012, the Global Cities Initiative is designed to help metropolitan leaders advance and grow their regional economies by strengthening international connections and competitiveness on key economic indicators such as advanced manufacturing, exports, foreign direct investment, and traded sectors. GCI activities include producing data and research to guide decisions, fostering practice and policy innovations, and facilitating a peer-learning network. This opportunity is part of the next phase of the Global Cities Initiative’s Exchange, a network that assists metropolitan areas as they create strategies to support sustainable economic growth, first through addressing exports and then foreign direct investment.

As part of this phase, the six metros in the cohort will develop a foreign direct investment market assessment, along with an implementation plan and a policy memo. This work, added to the region’s existing regional export plan, forms the second core component of a global engagement strategy that will strengthen the region's global economic connections and competitiveness.

The Global Cities Initiative is a joint-project of the Brookings Institution and JPMorgan Chase designed to help metropolitan leaders advance and grow their regional economies by strengthening international connections and competitiveness on key economic indicators such as advanced manufacturing, exports, foreign direct investment, and traded sectors. GCI activities include producing data and research to guide decisions, fostering practice and policy innovations, and facilitating a peer learning network. The Global Cities Initiative is chaired by Richard M. Daley, former mayor of Chicago and senior advisor to JPMorgan Chase. It is directed by Amy Liu, vice president and director of the Brookings Metropolitan Policy Program.