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EMBARGOED UNTIL RELEASE AT 8:30 a.m. EDT, Wednesday, July 6, 2022 Technical: Media: Amanda Budny Ryan Smith Connie O’Connell (301) 278‐9154 (301) 278‐9246 (301) 278‐9003 BEA 22–31 Amanda.Budny@bea.gov Ryan.Smith@bea.gov Connie.OConnell@bea.gov New Foreign Direct Investment in the United States, 2021 Expenditures by foreign direct investors to acquire, establish, or expand U.S. businesses totaled $333.6 billion (preliminary) in 2021. Expenditures increased $192.2 billion from $141.4 billion (revised) in 2020 and were above the annual average of $289.7 billion for 2014–2020. As in previous years, acquisitions of existing businesses accounted for most of total expenditures. New Foreign Direct Investment by Type, 1999–2021 Billions of dollars 500 450 400 350 300 250 Expansions* 200 150 Establishments Acquisitions 100 50 0 *Expansions included 2014 to present Note. Survey not conducted 2009–2013. U.S. Bureau of Economic Analysis In 2021, expenditures for acquisitions were $330.2 billion, expenditures to establish new U.S. businesses were $1.6 billion, and expenditures to expand existing foreign-owned businesses were $1.8 billion. Planned total expenditures, which include both first-year and planned future expenditures, were $345.8 billion. Expenditures by industry, country, and state By industry, expenditures for new direct investment were largest in manufacturing, at $121.3 billion, accounting for 36.4 percent of total expenditures. Within manufacturing, expenditures were largest in chemical manufacturing ($63.2 billion) and computers and electronic products ($30.2 billion). There were also notable expenditures in the real estate and rental and leasing sector ($43.8 billion). By country of ultimate beneficial owner (UBO), the largest investing country was the United Kingdom, with expenditures of $59.7 billion. The Netherlands ($43.1 billion) was the second-largest investing country, followed by France ($35.3 billion). By region, Europe contributed 70.0 percent of new investment in 2021. By U.S. state, California received the most investment, totaling $64.1 billion, followed by Massachusetts ($53.8 billion) and New York ($34.2 billion). Greenfield expenditures Greenfield investment expenditures—expenditures to either establish a new U.S. business or to expand an existing foreign-owned U.S. business—were $3.4 billion in 2021. For greenfield investment initiated in 2021, total planned expenditures until completion, which include both first-year and future expenditures, were $15.6 billion. By U.S. industry, greenfield expenditures in 2021 were largest in utilities ($1.2 billion) and chemical manufacturing ($0.3 billion). By region of UBO, Europe ($2.1 billion) and Asia and Pacific ($0.6 billion) had the largest expenditures. By U.S. state, Texas received the highest level of greenfield investment ($0.9 billion), followed by Delaware ($0.4 billion). Employment by newly acquired, established, or expanded foreign-owned businesses In 2021, employment at newly acquired, established, or expanded foreign-owned businesses in the United States was 236,900 employees. Current employment of acquired enterprises was 234,500. Total planned employment, which includes the current employment of acquired enterprises, the planned employment of newly established business enterprises when fully operational, and the planned employment associated with expansions, was 241,400. –2– By industry, retail trade accounted for the largest number of employees (48,900), followed by manufacturing (47,400). By country of UBO, Canada (46,500), Japan (between 25,000 and 50,000), and the United Kingdom (20,600) accounted for the largest number of employees. 1 By U.S. state, Pennsylvania had the largest employment resulting from new investment (44,700), followed by California (43,600) and New York (14,500). Employment for an acquired entity that operated in multiple states is attributed to the state in which it had the greatest number of employees. Updates to 2020 Expenditures for New Foreign Direct Investment in the United States Billions of dollars Previously published estimate Revised estimate First-year expenditures U.S. businesses acquired U.S. businesses established U.S. businesses expanded 120.7 116.3 1.9 2.4 141.4 135.9 2.6 2.8 Planned total expenditures U.S. businesses acquired U.S. businesses established U.S. businesses expanded 135.8 116.3 13.4 6.1 160.4 135.9 14.9 9.6 Next release: July 2023 New Foreign Direct Investment in the United States, 2022 ________________________ 1 Size ranges are provided for employment values that are suppressed to ensure the confidentiality of survey responses. –3– Additional Information Resources • • • • • • • • • The ultimate beneficial owner (UBO) is that person, proceeding up a chain of majority-ownership (where the entity above owns more than 50 percent of the entity below), beginning with and including the foreign parent, that is not owned more than 50 percent by another person. Unlike the foreign parent, the UBO of an affiliate may be located in the United States. Additional data on the expenditures and activities of the newly acquired, established, or expanded U.S. businesses are available on BEA’s website. Stay informed about BEA developments by reading the BEA Wire, signing up for BEA’s email subscription service, or following BEA on Twitter @BEA_News. Historical time series for these estimates can be accessed in BEA’s Interactive Data Application. Access BEA data by registering for BEA’s Data Application Programming Interface (API). For upcoming economic indicators, see BEA’s news release schedule. For more information about the survey and statistics, see “New Foreign Direct Investment in the United States in 2020,” Survey of Current Business 101 (August 2021). Additional information on new foreign direct investment in the United States in 2021 will be published next month in BEA’s monthly online journal, the Survey of Current Business. More information on foreign direct investment statistics is provided in U.S. International Economic Accounts: Concepts and Methods. See this FAQ for a comparison of BEA’s new investment statistics and its other statistics on foreign direct investment in the United States. An acquisition occurs when a foreign entity acquires a voting interest (directly, or indirectly through an existing U.S. affiliate) of at least 10 percent in a U.S. business enterprise. Acquisitions of additional voting interest in existing U.S. affiliates in which a foreign entity already has a 10 percent voting interest are excluded. An establishment occurs when a foreign entity, or an existing U.S. affiliate of a foreign entity, establishes a new legal entity in the United States in which the foreign entity owns 10 percent or more of the new business enterprise’s voting interest. An expansion occurs when an existing U.S. affiliate of a foreign parent expands its operations to include a new facility where business is conducted. Greenfield investment includes establishments and expansions. Statistical conventions The statistics of new investments by foreign direct investors are based on data reported in the Survey of New Foreign Direct Investment in the United States (BE–13) conducted by BEA. Definitions The statistics include transactions resulting from corporate inversions. A corporate inversion occurs when a U.S. corporation that is currently the ultimate owner of its worldwide operations takes steps to become a subsidiary of a foreign corporation. BEA’s direct investment surveys do not collect information on whether a U.S. corporation became foreign owned as a result of a corporate inversion. Using publicly available information, such as commercial databases and press reports, BEA estimates that newly inverted U.S. corporations accounted for a significant share of firstyear expenditures in 2015, but not in subsequent years. For more information on how corporate inversions affect the new investment statistics, see “New Foreign Direct Investment in the United States in 2016” in the Survey. Direct investment is a category of cross-border investment associated with a resident in one economy having control or a significant degree of influence on the management of an enterprise resident in another economy. Ownership or control of 10 percent or more of the voting securities of an entity in another economy is the threshold for separating direct investment from other types of investment. A U.S. affiliate is a U.S. business enterprise that is at least 10 percent owned by a single foreign person or entity. A foreign parent is the first person or entity outside the United States in a U.S. affiliate’s ownership chain that has a direct investment interest in the affiliate. –4– Related statistics that presents the dollar value of U.S. financial assets and liabilities with respect to foreign residents at a specific point in time. Statistics on new foreign direct investment are one part of a broader set of U.S. International Economic Accounts that, taken together, provide a comprehensive, integrated and detailed picture of U.S. international economic activities. The International Transactions Accounts (ITAs) are released quarterly. The ITAs are a statistical summary of economic activity between U.S. residents and the residents of other countries. Statistics on direct investment and multinational enterprises (MNEs) include annual statistics on the activities of U.S. MNEs and U.S. affiliates of foreign MNEs as well as detailed annual and quarterly statistics on direct investment. Statistics on international services, released annually, include detailed annual information on trade in services and on services supplied through the channel of direct investment by affiliates of MNEs. The International Investment Position (IIP) Accounts are released quarterly. The IIP is a statistical balance sheet U.S. international trade in goods and services, released by BEA and the U.S. Census Bureau, provides monthly statistics on trade in goods and services. News Release Tables Tables 1.1 and 1.2. First-Year Expenditures and Planned Total Expenditures, Industry of Affiliate by Type of Investment Tables 2.1 and 2.2. First-Year Expenditures and Planned Total Expenditures, Country of UBO by Type of Investment Tables 3.1 and 3.2. First-Year Expenditures and Planned Total Expenditures, U.S. State by Type of Investment Tables 4.1 and 4.2. Current and Planned Employment of U.S. Businesses Acquired, Established, and Expanded, Industry of Affiliate by Type of Investment Tables 5.1 and 5.2. Current and Planned Employment of U.S. Businesses Acquired, Established, and Expanded, Country of UBO by Type of Investment Tables 6.1 and 6.2. Current and Planned Employment of U.S. Businesses Acquired, Established, and Expanded, U.S. State by Type of Investment –5– Table 1.1 First-Year Expenditures and Planned Total Expenditures for Investments Initiated in 2020, Industry of Affiliate by Type of Investment [Millions of dollars] First-year expenditures 1 By type of investment U.S. businesses acquired (2) Total (1) All industries Planned total expenditures (first-year and planned future) 2 By type of investment Greenfield investment U.S. U.S. businesses businesses established expanded (3) (4) U.S. businesses acquired (6) Total (5) Greenfield investment U.S. U.S. businesses businesses established expanded (7) (8) 141,372 135,919 2,623 2,829 160,433 135,919 14,868 9,646 71,130 69,178 555 1,397 (D) 69,178 (D) (D) Food 2,018 1,409 (D) (D) (D) 1,409 (D) (D) Beverages and tobacco products 1,872 (D) (D) 0 (D) (D) (D) 0 173 (D) (D) 0 (D) (D) (D) 0 Manufacturing Paper Petroleum and coal products Chemicals Basic chemicals Pharmaceuticals and medicines Other (D) (D) (*) 0 (D) (D) (*) 0 31,928 (D) (D) 13 (D) (D) (D) (D) (D) (D) 0 (D) 2,330 (D) 0 (D) 25,382 25,373 (D) (D) (D) 25,373 (D) (D) 0 (D) (D) (D) 0 (D) (D) (D) Plastics and rubber products 335 335 (*) 0 335 335 (*) 0 Nonmetallic mineral products (D) (D) 2 0 (D) (D) 2 0 3,694 (D) (D) (D) (D) (D) (D) (D) (D) (D) (D) (D) 4,464 (D) (D) (D) Primary and fabricated metals Primary metals Fabricated metal products Machinery Computers and electronic products Semiconductors and other electronic components Navigational, measuring, and other instruments Other Electrical equipment, appliances, and components Transportation equipment Motor vehicles, bodies and trailers, and parts Other Other Wholesale trade (D) 276 (D) 0 (D) 276 (D) 0 345 309 (D) (D) (D) 309 (D) (D) 14,337 (D) (D) 2 (D) (D) (D) 2 12,846 (D) (D) 0 (D) (D) (D) 0 (D) (D) 2 2 (D) (D) 2 2 (D) (D) 1 0 (D) (D) 1 0 1,305 823 (D) (D) 3,172 823 (D) (D) (D) (D) 64 72 (D) (D) (D) (D) (D) (D) 30 (D) (D) (D) 33 (D) (D) (D) 34 (D) (D) (D) (D) (D) 4,421 4,371 (D) (D) (D) 4,371 (D) (D) 5,602 5,529 67 5 (D) 5,529 (D) (D) Motor vehicles and motor vehicle parts and supplies (D) (D) 0 0 (D) (D) 0 0 Electrical goods (D) (D) 1 0 (D) (D) 1 0 Petroleum and petroleum products (D) (D) (*) 0 (D) (D) (*) 0 Other Retail trade Food and beverage stores Other Information 4,513 4,442 66 5 (D) 4,442 (D) (D) 1,792 1,401 56 335 (D) 1,401 56 (D) 417 (D) 2 (D) (D) (D) 2 (D) 1,375 (D) 54 (D) 1,375 (D) 54 (D) 21,029 20,883 133 13 (D) 20,883 (D) 13 Publishing industries (D) 2,647 (D) (D) (D) 2,647 (D) (D) Telecommunications 14,072 (D) (D) 0 (D) (D) (D) 0 (D) (D) (D) (D) (D) (D) (D) (D) (D) Other Finance and insurance 6,966 6,912 48 6 (D) 6,912 (D) Depository credit intermediation (banking) 25 (D) (D) 1 25 (D) (D) 1 Finance, except depository institutions (D) 4,124 (D) (D) 4,194 4,124 (D) (D) Insurance carriers and related activities Real estate and rental and leasing Real estate Rental and leasing (except real estate) Professional, scientific, and technical services (D) (D) 0 (D) (D) (D) 0 (D) 4,128 2,853 1,069 206 6,123 2,853 2,474 797 797 3,755 (D) (D) 206 5,751 (D) (D) 373 (D) (D) 0 373 (D) (D) 0 15,741 15,520 215 7 15,745 15,520 (D) (D) (D) Architectural, engineering, and related services (D) (D) (D) (D) (D) (D) (D) Computer systems design and related services 6,003 5,954 49 0 (D) 5,954 (D) 0 522 493 (D) (D) (D) 493 (D) (D) Management, scientific, and technical consulting Other Other industries (D) (D) (D) (D) (D) (D) (D) (D) 14,984 13,642 481 860 (D) 13,642 (D) (D) Mining 687 (D) (D) 0 (D) (D) (D) 0 Utilities 4,502 3,387 281 834 7,386 3,387 (D) (D) Construction 841 778 63 (*) 841 778 63 (*) Transportation and warehousing 1,045 1,010 (D) (D) (D) 1,010 (D) (D) Administration, support, and waste management 3,666 3,635 (D) (D) (D) 3,635 (D) (D) Health care and social assistance 2,724 2,724 (*) 0 2,724 2,724 (*) 0 162 160 2 0 162 160 2 0 (D) 68 (D) (D) (D) 73 (D) Accommodation and food services Other 1,357 * A nonzero value that rounds to zero. D Suppressed to avoid disclosure of data on individual companies. 1. First-year expenditures include expenditures in the year in which the transaction occurred. 2. Planned total expenditures include first-year expenditures for all investments plus planned future expenditures until completion (and expenditures from past years, if any) for establishments and expansions that are multiyear investments. For acquired U.S. businesses, first-year expenditures and planned total expenditures are the same. Source: U.S. Bureau of Economic Analysis –6– Table 1.2 First-Year Expenditures and Planned Total Expenditures for Investments Initiated in 2021, Industry of Affiliate by Type of Investment [Millions of dollars] First-year expenditures 1 By type of investment All industries Greenfield investment U.S. U.S. businesses businesses established expanded (3) (4) U.S. businesses acquired (2) Total (1) Planned total expenditures (first-year and planned future) 2 By type of investment Greenfield investment U.S. U.S. businesses businesses established expanded (7) (8) U.S. businesses acquired (6) Total (5) 333,567 330,165 1,640 1,761 345,766 330,165 2,537 13,064 121,327 120,772 246 308 121,986 120,772 (D) (D) 5,903 (D) (D) 0 (D) (D) (D) 0 Beverages and tobacco products (D) (D) 2 0 (D) (D) 2 0 Paper (D) (D) 0 0 (D) (D) 0 0 0 0 0 0 0 0 0 0 63,180 62,864 (D) (D) (D) 62,864 (D) (D) 2,877 (D) 0 (D) (D) (D) 0 (D) 58,651 58,574 77 0 (D) 58,574 (D) 0 1,652 (D) (D) (D) (D) (D) (D) (D) Plastics and rubber products 1,496 1,494 2 0 1,496 1,494 2 0 Nonmetallic mineral products 17 14 3 0 17 14 3 0 1,037 (D) (D) 0 (D) (D) (D) 0 571 (D) (D) 0 (D) (D) (D) 0 Manufacturing Food Petroleum and coal products Chemicals Basic chemicals Pharmaceuticals and medicines Other Primary and fabricated metals Primary metals Fabricated metal products Machinery Computers and electronic products Semiconductors and other electronic components Navigational, measuring, and other instruments Other 466 (D) (D) 0 468 (D) (D) 0 3,732 3,708 24 0 3,733 3,708 25 0 30,162 30,148 8 6 30,162 30,148 8 6 (D) (D) (*) 0 (D) (D) (*) 0 21,183 21,175 1 6 21,183 21,175 1 6 0 (D) (D) 6 0 (D) (D) 6 Electrical equipment, appliances, and components (D) (D) 1 0 (D) (D) 1 0 Transportation equipment (D) (D) 30 (D) (D) (D) (D) (D) Motor vehicles, bodies and trailers, and parts (D) (D) (D) 0 (D) (D) (D) 0 Other (D) (D) (D) (D) (D) (D) (D) (D) 7,027 (D) (D) (D) (D) (D) (D) (D) 4,421 (D) 45 (D) (D) (D) (D) (D) Other Wholesale trade Motor vehicles and motor vehicle parts and supplies 1 1 (*) 0 1 1 (*) 0 1,129 1,129 1 0 1,129 1,129 1 0 Petroleum and petroleum products (D) (D) 0 0 (D) (D) 0 0 Other (D) (D) 44 (D) (D) (D) (D) (D) (D) (D) 60 62 (D) (D) (D) 85 42 1 2 38 (D) 1 2 (D) Electrical goods Retail trade Food and beverage stores Other (D) (D) 58 25 (D) (D) (D) (D) 25,338 25,150 (D) (D) (D) 25,150 (D) (D) Publishing industries 14,089 13,968 (D) (D) (D) 13,968 (D) (D) Telecommunications 5,379 5,377 3 0 5,379 5,377 3 0 Other 5,869 5,806 57 6 (D) 5,806 (D) 6 13,739 13,621 118 0 13,739 13,621 118 0 Depository credit intermediation (banking) (D) (D) (D) 0 (D) (D) (D) 0 Finance, except depository institutions (D) (D) (D) 0 (D) (D) (D) 0 Insurance carriers and related activities (D) (D) (*) 0 (D) (D) (*) 0 43,756 43,501 255 1 44,424 43,501 922 1 Real estate (D) (D) 250 1 (D) (D) 917 1 Rental and leasing (except real estate) (D) (D) 5 0 (D) (D) 5 0 37,938 37,749 178 11 37,947 37,749 (D) (D) Information Finance and insurance Real estate and rental and leasing Professional, scientific, and technical services Architectural, engineering, and related services 875 873 2 0 875 873 2 0 Computer systems design and related services 4,881 4,832 49 (*) 4,883 4,832 51 (*) (D) Management, scientific, and technical consulting Other Other industries 5,958 5,927 29 2 (D) 5,927 29 26,224 26,118 98 8 (D) 26,118 (D) 8 (D) (D) (D) (D) (D) (D) (D) (D) Mining 976 (D) (D) 0 (D) (D) (D) 0 Utilities 6,265 5,098 131 1,036 16,976 5,098 131 11,747 Construction 2,316 2,225 (D) (D) (D) 2,225 (D) (D) Transportation and warehousing 17,943 17,702 4 237 (D) 17,702 4 (D) Administration, support, and waste management 15,785 15,545 241 0 15,785 15,545 241 0 Health care and social assistance 146 146 1 0 146 146 1 0 Accommodation and food services (D) (D) 1 0 (D) (D) 1 0 Other (D) (D) (D) (D) (D) (D) (D) (D) * A nonzero value that rounds to zero. D Suppressed to avoid disclosure of data on individual companies. 1. First-year expenditures include expenditures in the year in which the transaction occurred. 2. Planned total expenditures include first-year expenditures for all investments plus planned future expenditures until completion (and expenditures from past years, if any) for establishments and expansions that are multiyear investments. For acquired U.S. businesses, first-year expenditures and planned total expenditures are the same. Source: U.S. Bureau of Economic Analysis –7– Table 2.1 First-Year Expenditures and Planned Total Expenditures for Investments Initiated in 2020, Country of UBO 1 by Type of Investment [Millions of dollars] First-year expenditures 2 Planned total expenditures (first-year and planned future) 3 By type of investment U.S. businesses acquired (2) Total (1) All countries By type of investment Greenfield investment U.S. U.S. businesses businesses established expanded (3) (4) Greenfield investment U.S. U.S. businesses businesses established expanded (7) (8) U.S. businesses acquired (6) Total (5) 141,372 135,919 2,623 2,829 160,433 135,919 14,868 9,646 Canada 16,799 16,599 (D) (D) (D) 16,599 (D) (D) Europe 93,095 90,440 722 1,932 97,674 90,440 1,141 6,093 (D) (D) (D) 0 (D) (D) (D) 0 3,596 (D) 20 (D) (D) (D) 23 (D) Belgium Denmark Finland 342 342 (*) 0 342 342 (*) 0 France 11,080 10,943 (D) (D) (D) 10,943 (D) (D) Germany 23,762 23,282 30 449 24,230 23,282 (D) (D) 4,160 4,140 (D) (D) (D) 4,140 (D) (D) 858 (D) (D) 0 (D) (D) (D) 0 3,940 3,908 (D) (D) (D) 3,908 (D) 35 (D) Ireland Italy Netherlands Spain 34 6 25 4 (D) 6 (D) Sweden 11,709 11,681 28 0 (D) 11,681 (D) 0 Switzerland 14,136 13,510 92 534 15,288 13,510 92 1,685 United Kingdom 10,609 10,332 258 19 10,814 10,332 (D) (D) (D) 5,970 (D) (D) (D) 5,970 (D) 960 7,675 7,252 (D) (D) (D) 7,252 (D) (D) 1,703 (D) (D) 0 1,703 (D) (D) 0 509 502 7 0 509 502 7 0 Other Latin America and Other Western Hemisphere South and Central America Brazil Mexico 1,181 1,089 92 0 1,181 1,089 92 0 Venezuela (*) 0 (*) 0 (*) 0 (*) 0 Other 13 (D) (D) 0 13 (D) (D) 0 (D) Other Western Hemisphere Bermuda United Kingdom Islands, Caribbean 4 Other Africa 5,971 (D) (D) (D) (D) (D) (D) 3,554 (D) (D) 0 3,554 (D) (D) 0 (D) (D) 9 (D) (D) (D) (D) (D) (D) 0 (D) 0 (D) 0 (D) 0 0 6 5 1 0 6 5 1 (*) (*) (*) 0 (*) (*) (*) 0 6 5 1 0 6 5 1 0 1,423 1,388 35 0 1,423 1,388 35 0 220 191 29 0 220 191 29 0 Saudi Arabia (*) 0 (*) 0 (*) 0 (*) 0 United Arab Emirates 16 (D) (D) 0 16 (D) (D) 0 1,187 (D) (D) 0 1,187 (D) (D) 0 22,222 20,102 1,250 870 (D) 20,102 (D) (D) 2,779 2,266 (D) (D) (D) 2,266 (D) (D) China 597 551 (D) (D) (D) 551 (D) (D) Hong Kong 375 169 (D) (D) (D) 169 (D) (D) India (D) (D) 19 2 (D) (D) 19 2 9,282 8,592 589 100 10,850 8,592 892 1,366 South Africa Other Middle East Israel Other Asia and Pacific Australia Japan Singapore 832 (D) (D) 0 (D) (D) (D) 0 South Korea Taiwan 925 (D) (D) (D) (D) (D) (D) 0 (D) (D) (D) (D) (D) (D) (D) 0 Other (D) (D) 18 0 (D) (D) 18 0 152 132 (D) (D) 152 132 (D) (D) United States 5 * A nonzero value that rounds to zero. D Suppressed to avoid disclosure of data on individual companies. 1. The Ultimate Beneficial Owner (UBO) is the entity, proceeding up the foreign ownership chain, which is not more than 50 percent owned by another entity. The UBO is the entity that ultimately owns or controls and thus ultimately derives the benefits and assumes the risks from owning or controlling an affiliate. 2. First-year expenditures include expenditures in the year in which the transaction occurred. 3. Planned total expenditures include first-year expenditures for all investments plus planned future expenditures until completion (and expenditures from past years, if any) for establishments and expansions that are multiyear investments. For acquired U.S. businesses, first-year expenditures and planned total expenditures are the same. 4. The "United Kingdom Islands, Caribbean" consists of the British Virgin Islands, the Cayman Islands, Montserrat, and the Turks and Caicos Islands. 5. The United States is the country of ultimate beneficial owner for businesses newly acquired, established, or expanded by foreign investors that are ultimately owned by persons located in the United States. Source: U.S. Bureau of Economic Analysis –8– Table 2.2 First-Year Expenditures and Planned Total Expenditures for Investments Initiated in 2021, Country of UBO 1 by Type of Investment [Millions of dollars] First-year expenditures 2 Planned total expenditures (first-year and planned future) 3 By type of investment U.S. businesses acquired (2) Total (1) All countries By type of investment Greenfield investment U.S. U.S. businesses businesses established expanded (3) (4) Greenfield investment U.S. U.S. businesses businesses established expanded (7) (8) U.S. businesses acquired (6) Total (5) 333,567 330,165 1,640 1,761 345,766 330,165 2,537 13,064 Canada 29,692 29,186 234 272 30,076 29,186 (D) (D) Europe 233,492 231,350 777 1,365 244,515 231,350 (D) (D) 10 3 7 0 10 3 7 0 5,691 (D) 11 (D) (D) (D) 11 (D) Belgium Denmark Finland (D) (D) 0 0 (D) (D) 0 0 France 35,319 35,316 3 (*) 35,319 35,316 3 (*) Germany 26,754 26,667 (D) (D) (D) 26,667 (D) (D) Ireland 18,306 (D) 12 (D) (D) (D) 12 (D) (D) (D) (D) (D) (D) (D) 31 (D) 43,071 43,053 (D) (D) (D) 43,053 (D) (D) Italy Netherlands Spain (D) (D) (D) 0 (D) (D) (D) 0 Sweden 10,829 10,821 8 0 10,829 10,821 8 0 Switzerland 18,764 18,752 10 2 18,764 18,752 10 2 United Kingdom 59,731 59,400 301 30 59,849 59,400 (D) (D) Other 12,235 (D) (D) 453 (D) (D) (D) (D) 8,434 8,337 96 0 8,438 8,337 101 0 Latin America and Other Western Hemisphere South and Central America 829 756 72 0 (D) 756 (D) 0 Brazil (D) (D) 3 0 (D) (D) (D) 0 Mexico 747 (D) (D) 0 747 (D) (D) 0 0 0 0 0 0 0 0 0 (D) (*) (D) 0 (D) (*) (D) 0 7,605 7,581 24 0 (D) 7,581 (D) 0 (D) (D) (D) 0 (D) (D) (D) 0 6,012 5,989 23 0 (D) 5,989 (D) 0 (D) (D) (D) 0 (D) (D) (D) 0 (D) (D) 3 0 (D) (D) 3 0 (D) (D) 2 0 (D) (D) 2 0 1 0 1 0 1 0 1 0 2,583 2,553 30 (*) 2,583 2,553 30 (*) 274 251 23 0 274 251 23 0 4 4 (*) 0 4 4 (*) 0 United Arab Emirates (D) (D) 2 (*) (D) (D) 2 (*) Other (D) (D) 5 0 (D) (D) 5 0 (D) Venezuela Other Other Western Hemisphere Bermuda United Kingdom Islands, Caribbean 4 Other Africa South Africa Other Middle East Israel Saudi Arabia Asia and Pacific 55,535 54,934 481 120 56,323 54,934 (D) Australia (D) (D) 40 0 (D) (D) (D) 0 China 294 254 (D) (D) (D) 254 (D) (D) Hong Kong (D) (D) 2 1 (D) (D) 2 1 India (D) (D) 17 2 (D) (D) 17 2 29,248 28,895 (D) (D) (D) 28,895 (D) (D) Japan Singapore South Korea Taiwan Other United States 5 (D) (D) (D) (D) (D) (D) (D) (D) 11,001 53 (D) (D) 89 (D) (D) 0 (D) 53 (D) (D) (D) (D) (D) 0 (D) (D) (D) (*) (D) (D) (D) (*) (D) (D) 20 4 (D) (D) 20 4 * A nonzero value that rounds to zero. D Suppressed to avoid disclosure of data on individual companies. 1. The Ultimate Beneficial Owner (UBO) is the entity, proceeding up the foreign ownership chain, which is not more than 50 percent owned by another entity. The UBO is the entity that ultimately owns or controls and thus ultimately derives the benefits and assumes the risks from owning or controlling an affiliate. 2. First-year expenditures include expenditures in the year in which the transaction occurred. 3. Planned total expenditures include first-year expenditures for all investments plus planned future expenditures until completion (and expenditures from past years, if any) for establishments and expansions that are multiyear investments. For acquired U.S. businesses, first-year expenditures and planned total expenditures are the same. 4. The "United Kingdom Islands, Caribbean" consists of the British Virgin Islands, the Cayman Islands, Montserrat, and the Turks and Caicos Islands. 5. The United States is the country of ultimate beneficial owner for businesses newly acquired, established, or expanded by foreign investors that are ultimately owned by persons located in the United States. Source: U.S. Bureau of Economic Analysis –9– Table 3.1 First-Year Expenditures and Planned Total Expenditures for Investments Initiated in 2020, State 1 by Type of Investment [Millions of dollars] First-year expenditures 2 By type of investment Greenfield investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (2) (3) (4) Total (1) Total 141,372 135,919 Planned total expenditures (first-year and planned future) 3 By type of investment Greenfield investment U.S. U.S. U.S. businesses businesses businesses Total acquired established expanded (5) (6) (7) (8) 2,623 2,829 160,433 135,919 14,868 9,646 5 New England: Connecticut 160 153 2 5 160 153 2 Maine 26 (D) (D) 0 26 (D) (D) 0 Massachusetts (D) (D) (D) (D) (D) (D) (D) (D) 0 New Hampshire 2 0 2 0 2 0 2 Rhode Island (D) (D) 0 0 (D) (D) 0 0 Vermont (D) (D) 2 0 (D) (D) 2 0 Mideast: Delaware 411 61 351 0 411 61 351 0 District of Columbia (D) (D) 0 0 (D) (D) 0 (D) Maryland 644 569 (D) (D) (D) 569 (D) (D) 13,424 13,329 (D) (D) (D) 13,329 (D) (D) New York 5,719 4,949 (D) (D) (D) 4,949 (D) (D) Pennsylvania 4,783 4,619 (D) (D) 4,973 4,619 276 78 (D) New Jersey Great Lakes: Illinois 5,767 5,719 26 22 (D) 5,719 (D) Indiana 1,685 (D) (D) 0 (D) (D) (D) 0 Michigan 8,565 8,477 (D) (D) (D) 8,477 (D) (D) Ohio 3,044 2,379 (D) (D) 4,889 2,379 (D) (D) Wisconsin 1,569 1,552 (D) (D) (D) 1,552 (D) 27 0 Plains: Iowa (D) (D) 0 0 (D) (D) 0 Kansas 81 (D) (D) 0 81 (D) (D) 0 Minnesota 1,045 1,045 (*) 0 1,045 1,045 (*) 0 Missouri 2,038 2,037 1 0 2,043 2,037 6 0 352 352 0 0 352 352 0 0 Nebraska North Dakota 0 0 0 0 0 0 0 0 South Dakota (D) (D) 0 0 (D) (D) 0 0 Alabama 248 (D) 12 (D) (D) (D) 21 (D) Arkansas (D) (D) 0 0 (D) (D) 0 0 Florida 4,115 4,026 83 6 (D) 4,026 (D) (D) Georgia Southeast: 2,371 2,105 45 222 3,887 2,105 (D) (D) Kentucky (D) (D) 0 0 (D) (D) 0 0 Louisiana (D) (D) (D) 2 (D) (D) (D) 2 Mississippi (D) 0 0 (D) (D) 0 0 (D) North Carolina 3,642 3,250 (D) (D) 4,078 3,250 114 714 South Carolina (D) (D) 1 2 (D) (D) 1 4 Tennessee 614 613 2 0 614 613 2 0 Virginia (D) (D) (D) (D) (D) (D) (D) (D) West Virginia (D) (D) 0 0 (D) (D) 0 0 2,891 (D) (D) 0 (D) (D) (D) 0 38 (D) (D) 0 38 (D) (D) 0 Southwest: Arizona New Mexico Oklahoma (D) (D) (*) 0 (D) (D) (*) 0 17,691 16,723 156 813 19,731 16,723 (D) (D) Colorado (D) (D) 53 0 (D) (D) 199 0 Idaho (D) (D) 0 0 (D) (D) 0 0 Montana 18 16 2 0 18 16 2 0 2,035 2,031 4 0 2,035 2,031 4 0 6 0 6 0 6 0 6 0 Texas Rocky Mountains: Utah Wyoming Far West: Alaska California 0 0 0 0 0 0 0 0 20,284 19,990 255 40 21,298 19,990 484 824 Hawaii 19 13 6 0 19 13 6 0 Nevada 240 201 36 2 (D) 201 (D) (D) Oregon 1,113 (D) (D) 0 (D) (D) (D) 0 Washington 1,038 (D) 955 (D) (D) (D) (D) 955 (D) (D) (D) (D) 0 (D) (D) 0 0 0 0 0 0 0 0 Puerto Rico Other U.S. areas 4 0 * A nonzero value that rounds to zero. D Suppressed to avoid disclosure of data on individual companies. 1. Statistics are shown for the state in which the newly acquired, established, or expanded U.S. business enterprise is located. If the U.S. business enterprise operates in more than one state; it is the state where the largest number of employees are based; if there are no employees it is the state of incorporation of the U.S. business enterprise. 2. First-year expenditures include expenditures in the year in which the transaction occurred. 3. Planned total expenditures include first-year expenditures for all investments plus planned future expenditures until completion (and expenditures from past years, if any) for establishments and expansions that are multiyear investments. For acquired U.S. businesses, first-year expenditures and planned total expenditures are the same. 4. "Other U.S. areas" consists of the U.S. Virgin Islands, Guam, American Samoa, and all other outlying U.S. areas. Source: U.S. Bureau of Economic Analysis –10– Table 3.2 First-Year Expenditures and Planned Total Expenditures for Investments Initiated in 2021, State 1 by Type of Investment [Millions of dollars] First-year expenditures 2 By type of investment Greenfield investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (2) (3) (4) Total (1) Total Planned total expenditures (first-year and planned future) 3 By type of investment Greenfield investment U.S. U.S. U.S. businesses businesses businesses Total acquired established expanded (5) (6) (7) (8) 333,567 330,165 1,640 1,761 Connecticut (D) (D) (*) 0 Maine (D) (D) 0 0 53,815 53,778 33 4 5 2 1 2 (D) (D) 2 1 1 1,029 (D) 7,305 345,766 330,165 2,537 13,064 (D) (D) (*) 0 (D) (D) 0 0 53,819 53,778 33 8 5 2 1 2 0 (D) (D) 2 0 0 0 1 1 0 0 619 406 5 1,032 619 408 5 0 (D) 0 (D) 0 (D) 0 (D) (D) 0 (D) (D) (D) 0 New England: Massachusetts New Hampshire Rhode Island Vermont Mideast: Delaware District of Columbia Maryland New Jersey (D) (D) (D) (D) (D) (D) (D) (D) New York 34,181 (D) (D) 186 (D) (D) 63 (D) Pennsylvania 30,445 30,406 (D) (D) 30,482 30,406 13 63 21,158 (D) 17 (D) (D) (D) 19 (D) (D) (D) (D) 2 (D) (D) (D) 2 Michigan 5,129 5,126 1 2 5,129 5,126 1 2 Ohio 4,940 (D) (D) 0 (D) (D) (D) 0 656 652 (*) 4 656 652 (*) 4 Great Lakes: Illinois Indiana Wisconsin Plains: Iowa (D) (D) 0 2 (D) (D) 0 2 2,182 (D) (*) (D) 2,182 (D) (*) (D) Minnesota 375 (D) (D) 0 (D) (D) (D) 0 Missouri (D) (D) 1 7 (D) (D) 1 (D) Nebraska (D) (D) 0 3 (D) (D) 0 4 North Dakota (D) (D) 0 (D) (D) (D) 0 (D) South Dakota (D) (D) (D) 2 (D) (D) (D) 2 Alabama 335 (D) (*) (D) (D) (D) (*) (D) Arkansas (D) (D) 0 2 (D) (D) 0 2 Florida 5,177 5,096 63 18 5,273 5,096 159 19 Georgia (D) Kansas Southeast: 3,868 3,848 17 4 (D) 3,848 (D) Kentucky 381 375 6 0 381 375 6 0 Louisiana 1,681 (D) 0 (D) 1,681 (D) 0 (D) Mississippi (D) (D) 3 0 (D) (D) 3 0 North Carolina (D) (D) (D) (D) (D) (D) 12 (D) South Carolina (D) (D) 3 0 (D) (D) 3 0 Tennessee 73 66 7 0 73 66 7 0 4,390 4,381 9 0 (D) 4,381 (D) 0 0 0 0 0 0 0 0 0 (D) Virginia West Virginia Southwest: Arizona 2,315 (D) 2 (D) (D) (D) 2 New Mexico (D) (D) 4 0 (D) (D) 4 0 Oklahoma 370 350 20 0 372 350 22 0 12,813 11,895 (D) (D) (D) 11,895 (D) (D) 3,319 3,304 (D) (D) (D) 3,304 (D) (D) (D) (D) 0 0 (D) (D) 0 0 0 0 0 0 0 0 0 0 (D) (D) 2 (D) (D) (D) 2 (D) 6 0 6 0 6 0 6 0 Texas Rocky Mountains: Colorado Idaho Montana Utah Wyoming Far West: Alaska California 0 0 0 0 0 0 0 0 64,068 63,860 196 12 64,374 63,860 502 12 Hawaii 68 64 4 1 69 64 4 1 Nevada 165 (D) (D) 0 165 (D) (D) 0 Oregon 1,112 (D) (D) (D) (D) (D) (D) 3 Washington 2,043 (D) (D) (D) 22 (D) (D) (D) (D) (D) 0 (D) (D) 0 (D) (D) 0 0 0 0 0 0 0 0 Puerto Rico Other U.S. areas 4 * A nonzero value that rounds to zero. D Suppressed to avoid disclosure of data on individual companies. 1. Statistics are shown for the state in which the newly acquired, established, or expanded U.S. business enterprise is located. If the U.S. business enterprise operates in more than one state; it is the state where the largest number of employees are based; if there are no employees it is the state of incorporation of the U.S. business enterprise. 2. First-year expenditures include expenditures in the year in which the transaction occurred. 3. Planned total expenditures include first-year expenditures for all investments plus planned future expenditures until completion (and expenditures from past years, if any) for establishments and expansions that are multiyear investments. For acquired U.S. businesses, first-year expenditures and planned total expenditures are the same. 4. "Other U.S. areas" consists of the U.S. Virgin Islands, Guam, American Samoa, and all other outlying U.S. areas. Source: U.S. Bureau of Economic Analysis –11– 1 Table 4.1 Current and Planned Employment of U.S. Businesses Acquired, Established, and Expanded in 2020, Industry of Affiliate by Type of Investment [Thousands of employees] 2 Total (1) All industries 3 Current employment By type of investment Greenfield investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (2) (3) (4) Planned employment By type of investment Greenfield investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (6) (7) (8) Total (5) 229.8 222.7 3.7 3.3 242.1 222.7 11.6 31.1 29.5 0.3 1.3 39.1 29.5 5.4 4.2 Food 1.8 1.7 (*) 0.1 2.9 1.7 0.3 0.8 Beverages and tobacco products 1.1 1.1 0.0 0.0 1.1 1.1 (*) 0.0 Paper 0.5 A A 0.0 F A A 0.0 Petroleum and coal products 0.2 0.2 0.0 0.0 0.2 0.2 (*) 0.0 0.3 Manufacturing Chemicals 7.8 5.8 5.7 (*) 0.1 6.4 5.7 0.3 Basic chemicals 0.9 0.9 0.0 (*) 0.9 0.9 0.0 (*) Pharmaceuticals and medicines 2.9 2.8 (*) 0.1 3.4 2.8 0.3 0.3 Other 2.1 2.1 0.0 0.0 2.1 2.1 (*) 0.0 Plastics and rubber products 0.7 0.7 0.0 0.0 0.7 0.7 (*) 0.0 Nonmetallic mineral products 0.9 0.9 0.0 0.0 0.9 0.9 (*) 0.0 Primary and fabricated metals 3.6 3.4 0.2 0.0 4.0 3.4 A A Primary metals H H 0.1 0.0 3.2 H A A Fabricated metal products F F 0.1 0.0 0.8 F A 0.0 0.5 0.2 0.0 0.3 0.7 0.2 (*) 0.5 H H 0.0 0.0 I H G (*) H H 0.0 0.0 H H G 0.0 Navigational, measuring, and other instruments 0.4 0.4 0.0 0.0 0.4 0.4 (*) (*) Other 0.1 0.1 0.0 0.0 0.2 0.1 (*) 0.0 Electrical equipment, appliances, and components 1.8 1.0 (*) 0.7 3.2 1.0 G G Transportation equipment 2.6 2.5 0.1 (*) 3.6 2.5 0.5 0.6 Motor vehicles, bodies and trailers, and parts G G 0.1 (*) 2.4 G A F Other F F (*) 0.0 1.3 F A A Machinery Computers and electronic products Semiconductors and other electronic components Other Wholesale trade I I A 0.1 I I F F 19.0 J A 0.0 19.4 J 0.2 A 0.0 Motor vehicles and motor vehicle parts and supplies J J 0.0 0.0 J J 0.0 Electrical goods F F 0.0 0.0 F F A 0.0 0.1 0.1 0.0 0.0 0.1 0.1 (*) 0.0 Petroleum and petroleum products Other I I A 0.0 I I A A L L A 1.7 L L 0.1 1.7 3.0 G 0.0 G 3.0 G (*) G L L A A L L 0.1 A 11.2 J A 0.0 11.6 J 0.4 A Publishing industries 3.1 3.1 (*) 0.0 H 3.1 0.1 A Telecommunications 4.5 H A 0.0 H H A 0.0 0.0 Retail trade Food and beverage stores Other Information Other 3.6 H A 0.0 H H A 8.4 I A 0.0 9.4 I A F Depository credit intermediation (banking) (*) (*) 0.0 0.0 (*) (*) 0.0 (*) Finance, except depository institutions 2.1 G A 0.0 H G A F Insurance carriers and related activities 6.3 6.3 0.0 0.0 I 6.3 0.0 A H H A 0.0 2.9 H A 0.0 H H A 0.0 H H 0.1 0.0 0.0 Finance and insurance Real estate and rental and leasing Real estate Rental and leasing (except real estate) 0.1 0.1 0.0 0.0 A 0.1 A Professional, scientific, and technical services 19.0 J A 0.0 19.5 J 0.6 A Architectural, engineering, and related services 0.9 0.8 0.1 0.0 0.9 0.8 0.1 (*) Computer systems design and related services 5.0 5.0 (*) 0.0 5.2 5.0 0.1 0.0 Management, scientific, and technical consulting 0.8 0.8 (*) 0.0 0.9 0.8 0.1 (*) 12.3 J A 0.0 12.6 J 0.2 A K K H 0.3 K K 4.6 F Mining H H (*) 0.0 2.9 H A 0.0 Utilities 4.3 G H (*) I G H (*) Construction 1.5 1.5 0.0 0.0 1.5 1.5 A A Transportation and warehousing 3.4 3.4 0.0 (*) 3.6 3.4 A A 10.3 10.0 0.0 0.3 10.6 10.0 A A I I 0.0 0.0 I I A 0.0 G G 0.0 0.0 G G A 0.0 8.4 8.4 0.0 (*) I 8.4 A A Other Other industries Administration, support, and waste management Health care and social assistance Accommodation and food services Other (*) Fewer than 50 employees. 1. Statistics include all full-time and part-time employees on payroll and exclude contract workers and other workers not carried on payroll of the U.S. business enterprise. 2. Current employment includes the employment of the acquired, established, or new facilities of expanded affiliates at the time the transactions occurred or the investments were initiated. 3. Planned employment consists of the current employment of acquired enterprises, the planned employment of established business enterprises once they are fully operating, and the planned employment associated with the new facilities of expanded business enterprises once they are fully operating. NOTE. Size ranges are given in employment cells that are suppressed. The size ranges are: A-1 to 499; F-500 to 999; G-1,000 to 2,499; H-2,500 to 4,999; I-5,000 to 9,999; J-10,000 to 24,999; K-25,000 to 49,999; L50,000 to 99,999; M-100,000 or more. Source: U.S. Bureau of Economic Analysis –12– 1 Table 4.2 Current and Planned Employment of U.S. Businesses Acquired, Established, and Expanded in 2021, Industry of Affiliate by Type of Investment [Thousands of employees] 2 Total (1) All industries 3 Current employment By type of investment Greenfield investment U.S. U.S. U.S. businesses businesses businesses acquired expanded established (2) (3) (4) Planned employment By type of investment Greenfield investment U.S. U.S. U.S. businesses businesses businesses acquired expanded established (6) (7) (8) Total (5) 236.9 234.5 0.5 1.9 241.4 234.5 3.8 47.4 47.1 (*) 0.3 48.9 47.1 0.9 0.8 Food 2.6 2.6 0.0 0.0 2.6 2.6 (*) 0.0 Beverages and tobacco products 0.3 0.3 0.0 0.0 0.3 0.3 0.0 0.0 H H 0.0 0.0 H H 0.0 0.0 Petroleum and coal products 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Chemicals 0.1 Manufacturing Paper 3.1 9.4 9.4 (*) (*) 9.6 9.4 0.2 Basic chemicals 1.2 1.2 0.0 0.0 1.3 1.2 0.0 (*) Pharmaceuticals and medicines 7.3 7.2 (*) 0.0 7.4 7.2 0.1 0.0 Other 0.9 0.9 0.0 (*) 1.0 0.9 (*) 0.1 H H 0.0 0.0 H H (*) 0.0 Plastics and rubber products Nonmetallic mineral products 0.1 0.1 0.0 0.0 0.1 0.1 (*) 0.0 Primary and fabricated metals 1.1 1.1 (*) 0.0 1.2 1.1 0.1 0.0 Primary metals 0.3 0.3 (*) 0.0 0.4 0.3 0.1 0.0 Fabricated metal products 0.7 0.7 0.0 0.0 0.7 0.7 (*) 0.0 Machinery 3.9 3.9 (*) 0.0 4.0 3.9 0.1 0.0 Computers and electronic products 8.3 8.3 0.0 0.0 8.5 8.3 (*) 0.1 Semiconductors and other electronic components Navigational, measuring, and other instruments Other Electrical equipment, appliances, and components Transportation equipment Motor vehicles, bodies and trailers, and parts Other Other Wholesale trade Motor vehicles and motor vehicle parts and supplies G G 0.0 0.0 G G (*) 0.0 6.9 6.9 0.0 0.0 7.0 6.9 (*) 0.1 A A 0.0 0.0 A A (*) 0.0 0.8 0.8 0.0 0.0 0.9 0.8 (*) 0.0 I I (*) (*) I I 0.2 0.3 I I (*) 0.0 I I 0.2 0.0 0.1 0.1 0.0 (*) 0.4 0.1 (*) 0.3 6.4 6.2 0.0 0.3 6.7 6.2 0.2 0.3 17.0 17.0 (*) (*) 17.2 17.0 0.2 (*) (*) (*) 0.0 0.0 (*) (*) (*) 0.0 Electrical goods 0.8 0.8 0.0 0.0 0.9 0.8 (*) 0.0 Petroleum and petroleum products 0.1 0.1 0.0 0.0 0.1 0.1 0.0 0.0 16.1 16.1 (*) (*) 16.3 16.1 0.2 (*) 48.9 48.8 (*) 0.1 49.4 48.8 0.2 0.4 0.1 (*) 0.0 0.1 0.3 (*) (*) 0.3 48.8 48.7 (*) 0.1 49.1 48.7 0.2 0.1 Other Retail trade Food and beverage stores Other Information Publishing industries 14.3 J (*) G 14.7 J A G 4.8 H 0.0 G 4.9 H 0.1 G 0.0 Telecommunications 5.9 5.9 0.0 0.0 5.9 5.9 (*) Other 3.6 3.6 (*) 0.0 3.8 3.6 A A 12.3 12.3 (*) 0.0 12.4 12.3 (*) 0.0 Finance and insurance Depository credit intermediation (banking) 0.3 0.3 (*) 0.0 0.3 0.3 (*) 0.0 Finance, except depository institutions 5.9 5.9 (*) 0.0 5.9 5.9 (*) 0.0 Insurance carriers and related activities Real estate and rental and leasing 6.1 6.1 0.0 0.0 6.1 6.1 0.0 0.0 1.6 1.6 0.0 0.0 1.6 1.6 0.1 0.0 Real estate 0.9 0.9 0.0 0.0 1.0 0.9 0.1 0.0 Rental and leasing (except real estate) 0.6 0.6 0.0 0.0 0.6 0.6 (*) 0.0 Professional, scientific, and technical services 35.8 35.8 A A 37.0 35.8 1.1 0.1 Architectural, engineering, and related services 3.0 3.0 0.0 0.0 3.0 3.0 (*) 0.0 Computer systems design and related services 12.7 12.6 (*) 0.0 12.8 12.6 0.2 (*) Management, scientific, and technical consulting 4.3 H 0.0 A 4.4 H 0.2 A 15.9 J A 0.0 16.7 J 0.7 A Other Other industries 59.5 L A A 60.2 L F A Mining 0.3 0.3 0.0 0.0 0.3 0.3 (*) 0.0 Utilities 2.0 2.0 A A 2.1 2.0 0.1 (*) Construction 3.0 H A A 3.1 H 0.1 A Transportation and warehousing 23.6 23.6 0.0 0.1 23.7 23.6 (*) 0.1 Administration, support, and waste management 16.6 16.2 0.4 0.0 16.7 16.2 0.6 0.0 1.4 1.4 (*) 0.0 1.4 1.4 (*) 0.0 I I 0.0 0.0 I I (*) 0.0 H H (*) 0.0 H H A A Health care and social assistance Accommodation and food services Other (*) Fewer than 50 employees. 1. Statistics include all full-time and part-time employees on payroll and exclude contract workers and other workers not carried on payroll of the U.S. business enterprise. 2. Current employment includes the employment of the acquired, established, or new facilities of expanded affiliates at the time the transactions occurred or the investments were initiated. 3. Planned employment consists of the current employment of acquired enterprises, the planned employment of established business enterprises once they are fully operating, and the planned employment associated with the new facilities of expanded business enterprises once they are fully operating. NOTE. Size ranges are given in employment cells that are suppressed. The size ranges are: A-1 to 499; F-500 to 999; G-1,000 to 2,499; H-2,500 to 4,999; I-5,000 to 9,999; J-10,000 to 24,999; K-25,000 to 49,999; L50,000 to 99,999; M-100,000 or more. Source: U.S. Bureau of Economic Analysis –13– Table 5.1 Current and Planned Employment 1 of U.S. Businesses Acquired, Established, and Expanded in 2020, Country of UBO 2 by Type of Investment [Thousands of employees] Current employment 3 By type of investment Greenfield investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (2) (3) (4) Total (1) All countries Planned employment 4 By type of investment Greenfield investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (6) (7) (8) Total (5) 229.8 222.7 3.7 3.3 242.1 222.7 11.6 7.8 Canada 119.2 M H A 121.2 M 4.9 A Europe 72.6 69.9 0.3 2.4 77.1 69.9 2.0 5.2 Belgium 0.2 0.2 0.0 0.0 0.4 0.2 0.3 0.0 Denmark 2.6 2.6 (*) 0.0 2.7 2.6 0.1 (*) Finland 0.3 0.3 0.0 0.0 0.3 0.3 (*) 0.0 France 4.9 4.8 0.1 0.0 4.9 4.8 0.1 0.0 Germany 7.1 5.8 (*) 1.3 7.7 5.8 0.1 1.8 Ireland 6.8 6.7 0.0 0.1 6.9 6.7 (*) 0.1 Italy 0.5 0.5 (*) 0.0 0.5 0.5 (*) 0.0 Netherlands 2.2 1.8 0.0 0.4 2.2 1.8 (*) 0.4 Spain (*) (*) (*) 0.0 1.1 (*) 0.1 0.9 Sweden 3.6 3.6 (*) 0.0 3.9 3.6 0.3 0.0 Switzerland United Kingdom Other Latin America and Other Western Hemisphere South and Central America 7.0 6.8 (*) 0.2 7.8 6.8 0.1 0.9 29.9 29.7 0.1 (*) 30.5 29.7 0.6 0.1 7.5 7.2 0.0 0.4 8.3 7.2 0.1 1.0 13.1 J A 0.0 13.3 J 0.2 A 3.9 3.9 (*) 0.0 4.0 3.9 0.1 0.0 Brazil G G 0.0 0.0 G G A 0.0 Mexico 2.9 H A 0.0 H H A 0.0 Venezuela 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 A A A 0.0 A A A 0.0 Other Other Western Hemisphere Bermuda United Kingdom Islands, Caribbean Other Africa South Africa Other Middle East 5 9.2 I A 0.0 9.3 I 0.1 A G G 0.0 0.0 G G (*) 0.0 I I A 0.0 I I (*) A 0.0 0.0 0.0 0.0 (*) 0.0 (*) 0.0 A A 0.0 0.0 A A A 0.0 0.0 A 0.0 A 0.0 0.0 (*) (*) 0.0 0.0 0.0 A 0.0 A A 0.0 0.0 0.6 0.6 (*) 0.0 0.7 0.6 0.1 Israel 0.5 0.5 0.0 0.0 0.5 0.5 (*) 0.0 Saudi Arabia 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 United Arab Emirates (*) (*) (*) 0.0 (*) (*) (*) 0.0 Other 0.1 0.1 0.0 0.0 0.1 0.1 (*) 0.0 2.3 Asia and Pacific 24.0 22.8 A F 29.5 22.8 4.5 Australia 5.8 5.8 0.0 (*) 6.2 5.8 A A China 1.4 1.4 0.0 (*) 1.9 1.4 0.2 0.3 Hong Kong 0.4 0.4 (*) 0.0 0.4 0.4 (*) 0.0 India 3.1 H A 0.0 3.3 H 0.2 A Japan 6.0 5.5 A A 6.6 5.5 0.3 0.8 0.0 Singapore South Korea Taiwan Other United States 6 H H (*) 0.0 H H 0.1 1.1 A (*) F 2.8 A G G 0.6 0.6 0.0 0.0 H 0.6 G 0.0 F F 0.0 0.0 0.9 F A 0.0 A A 0.0 0.0 A A A A (*) Fewer than 50 employees. 1. Statistics include all full-time and part-time employees on payroll and exclude contract workers and other workers not carried on payroll of the U.S. business enterprise. 2. The Ultimate Beneficial Owner (UBO) is the entity, proceeding up the foreign ownership chain, which is not more than 50 percent owned by another entity. The UBO is the entity that ultimately owns or controls and thus ultimately derives the benefits and assumes the risks from owning or controlling an affiliate. 3. Current employment includes the employment of the acquired, established, or new facilities of expanded affiliates at the time the transactions occurred or the investments were initiated. 4. Planned employment consists of the current employment of acquired enterprises, the planned employment of established business enterprises once they are fully operating, and the planned employment associated with the new facilities of expanded business enterprises once they are fully operating. 5. The "United Kingdom Islands, Caribbean" consists of the British Virgin Islands, the Cayman Islands, Montserrat, and the Turks and Caicos Islands. 6. The United States is the country of ultimate beneficial owner for businesses newly acquired, established, or expanded by foreign investors that are ultimately owned by persons located in the United States. NOTE. Size ranges are given in employment cells that are suppressed. The size ranges are: A-1 to 499; F-500 to 999; G-1,000 to 2,499; H-2,500 to 4,999; I-5,000 to 9,999; J-10,000 to 24,999; K-25,000 to 49,999; L-50,000 to 99,999; M-100,000 or more. Source: U.S. Bureau of Economic Analysis –14– Table 5.2 Current and Planned Employment 1 of U.S. Businesses Acquired, Established, and Expanded in 2021, Country of UBO 2 by Type of Investment [Thousands of employees] Current employment 3 By type of investment Greenfield investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (2) (3) (4) Total (1) All countries Planned employment 4 By type of investment Greenfield investment U.S. U.S. U.S. businesses businesses businesses acquired established expanded (6) (7) (8) Total (5) 236.9 234.5 0.5 1.9 241.4 234.5 3.8 3.1 Canada 46.5 46.4 (*) 0.1 47.5 46.4 0.8 0.3 Europe 98.1 95.9 0.4 1.7 99.8 95.9 1.6 2.3 Belgium (*) (*) (*) 0.0 0.2 (*) 0.1 0.0 Denmark 2.5 2.5 0.0 (*) 2.6 2.5 0.1 (*) Finland (*) (*) 0.0 0.0 (*) (*) 0.0 0.0 France 17.7 17.7 0.0 0.0 17.8 17.7 (*) (*) Germany Ireland 9.7 I (*) G 9.7 I (*) G 11.6 11.6 0.0 0.0 11.6 11.6 (*) (*) Italy 1.7 G (*) A 1.8 G 0.1 A Netherlands 5.9 5.9 0.0 0.0 6.1 5.9 (*) 0.2 Spain 0.5 0.5 (*) 0.0 0.5 0.5 (*) 0.0 Sweden 3.9 3.9 0.0 0.0 3.9 3.9 0.1 0.0 Switzerland 15.7 15.7 0.0 0.0 15.8 15.7 0.1 (*) United Kingdom 20.6 20.5 (*) (*) 21.2 20.5 0.4 0.3 8.3 I 0.4 A 8.5 I 0.6 A 20.6 20.6 (*) 0.0 20.8 20.6 0.2 0.0 0.0 Other Latin America and Other Western Hemisphere South and Central America J J (*) 0.0 J J 0.1 Brazil (*) (*) (*) 0.0 0.1 (*) (*) 0.0 Mexico J J 0.0 0.0 J J (*) 0.0 Venezuela 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Other (*) (*) 0.0 0.0 (*) (*) (*) 0.0 0.0 Other Western Hemisphere Bermuda United Kingdom Islands, Caribbean Other Africa 5 I I 0.0 0.0 I I 0.1 F F 0.0 0.0 F F A 0.0 5.8 5.8 0.0 0.0 5.9 5.8 0.1 0.0 A A 0.0 0.0 A A A 0.0 0.3 0.3 0.0 0.0 0.4 0.3 0.1 0.0 South Africa 0.3 0.3 0.0 0.0 0.3 0.3 0.0 0.0 Other 0.0 0.0 0.0 0.0 0.1 0.0 0.1 0.0 Middle East I I 0.0 0.0 I I (*) (*) Israel 0.1 0.1 0.0 0.0 0.1 0.1 (*) 0.0 Saudi Arabia (*) (*) 0.0 0.0 (*) (*) (*) 0.0 I I 0.0 0.0 I I (*) (*) (*) (*) 0.0 0.0 (*) (*) 0.0 0.0 61.4 61.3 (*) 0.1 62.8 61.3 0.9 0.5 I I 0.0 0.0 I I 0.1 0.0 0.2 0.1 (*) (*) 0.4 0.1 0.2 0.1 H H 0.0 0.0 H H (*) (*) 0.4 0.4 0.0 0.0 0.6 0.4 0.1 0.1 United Arab Emirates Other Asia and Pacific Australia China Hong Kong India Japan K K (*) (*) K K 0.2 0.1 Singapore 7.6 7.6 0.0 (*) 7.9 7.6 (*) 0.3 South Korea Taiwan 1.8 1.8 (*) 0.0 2.1 1.8 0.3 (*) 0.1 0.1 (*) 0.0 0.1 0.1 (*) 0.0 Other (*) (*) 0.0 0.0 0.1 (*) (*) (*) G G 0.0 0.0 G G 0.1 (*) United States 6 (*) Fewer than 50 employees. 1. Statistics include all full-time and part-time employees on payroll and exclude contract workers and other workers not carried on payroll of the U.S. business enterprise. 2. The Ultimate Beneficial Owner (UBO) is the entity, proceeding up the foreign ownership chain, which is not more than 50 percent owned by another entity. The UBO is the entity that ultimately owns or controls and thus ultimately derives the benefits and assumes the risks from owning or controlling an affiliate. 3. Current employment includes the employment of the acquired, established, or new facilities of expanded affiliates at the time the transactions occurred or the investments were initiated. 4. Planned employment consists of the current employment of acquired enterprises, the planned employment of established business enterprises once they are fully operating, and the planned employment associated with the new facilities of expanded business enterprises once they are fully operating. 5. The "United Kingdom Islands, Caribbean" consists of the British Virgin Islands, the Cayman Islands, Montserrat, and the Turks and Caicos Islands. 6. The United States is the country of ultimate beneficial owner for businesses newly acquired, established, or expanded by foreign investors that are ultimately owned by persons located in the United States. NOTE. Size ranges are given in employment cells that are suppressed. The size ranges are: A-1 to 499; F-500 to 999; G-1,000 to 2,499; H-2,500 to 4,999; I-5,000 to 9,999; J-10,000 to 24,999; K-25,000 to 49,999; L-50,000 to 99,999; M-100,000 or more. Source: U.S. Bureau of Economic Analysis –15– Table 6.1 Current and Planned Employment 1 of U.S. Businesses Acquired, Established, and Expanded in 2020, State 2 by Type of Investment [Thousands of employees] Current employment 3 By type of investment Greenfield investment U.S. businesses acquired (2) Total (1) Total Planned employment 4 By type of investment Greenfield investment U.S. businesses U.S. businesses established expanded (3) (4) 229.8 222.7 3.7 Connecticut 0.6 0.5 Maine (*) (*) U.S. businesses acquired (6) Total (5) U.S. businesses U.S. businesses established expanded (7) (8) 3.3 242.1 222.7 11.6 7.8 0.0 (*) 0.6 0.5 A A 0.0 0.0 (*) (*) (*) 0.0 New England: Massachusetts 6.1 5.9 (*) 0.1 6.2 5.9 (*) 0.3 New Hampshire 0.0 0.0 0.0 0.0 (*) 0.0 (*) 0.0 Rhode Island 0.2 0.2 0.0 0.0 0.2 0.2 0.0 0.0 Vermont 0.7 0.7 0.0 0.0 0.7 0.7 0.0 0.0 Delaware 0.1 0.1 (*) 0.0 0.4 0.1 0.4 0.0 District of Columbia (*) (*) 0.0 (*) (*) (*) 0.0 (*) Maryland 0.8 0.6 0.0 0.2 1.0 0.6 (*) 0.5 Mideast: New Jersey 2.8 2.6 (*) 0.2 2.8 2.6 (*) 0.2 New York 6.4 6.1 (*) 0.2 6.8 6.1 0.4 0.2 Pennsylvania 4.7 4.1 (*) 0.6 4.7 4.1 (*) 0.6 6.0 6.0 (*) 0.0 6.1 6.0 0.1 (*) J J A 0.0 12.0 J A 0.0 Michigan 6.9 6.9 (*) (*) 7.4 6.9 0.1 0.5 Ohio 3.3 3.3 (*) 0.0 4.8 3.3 G A Wisconsin 2.1 1.8 0.0 0.3 2.2 1.8 0.1 0.3 Great Lakes: Illinois Indiana Plains: Iowa 0.9 0.9 0.0 0.0 0.9 0.9 0.0 0.0 Kansas 0.3 0.3 0.0 0.0 0.3 0.3 (*) 0.0 Minnesota 1.2 1.2 0.0 0.0 1.2 1.2 (*) 0.0 H H 0.0 0.0 5.2 H A 0.0 Missouri Nebraska 2.2 2.2 0.0 0.0 2.2 2.2 0.0 0.0 North Dakota 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 South Dakota (*) (*) 0.0 0.0 (*) (*) 0.0 0.0 Southeast: Alabama 0.2 0.2 0.1 0.0 0.7 0.2 0.2 0.4 Arkansas 0.1 0.1 0.0 0.0 0.1 0.1 0.0 0.0 Florida 13.1 13.1 (*) 0.0 14.1 13.1 0.1 0.9 Georgia 7.0 6.1 (*) 0.9 8.0 6.1 0.4 1.6 Kentucky 6.0 6.0 0.0 0.0 6.0 6.0 0.0 0.0 Louisiana 0.9 0.9 0.0 0.0 0.9 0.9 (*) (*) Mississippi (*) 0.0 0.0 (*) (*) 0.0 0.0 (*) North Carolina 1.7 1.5 (*) 0.2 3.0 1.5 0.6 0.8 South Carolina 1.2 0.9 0.0 0.3 1.3 0.9 (*) 0.5 Tennessee 1.4 1.4 0.0 0.0 1.4 1.4 (*) 0.0 Virginia 2.5 2.3 0.0 0.3 2.9 2.3 0.3 0.3 West Virginia (*) (*) 0.0 0.0 (*) (*) 0.0 0.0 0.0 Southwest: Arizona 9.6 I A 0.0 J I G New Mexico (*) (*) 0.0 0.0 (*) (*) (*) 0.0 Oklahoma 0.2 0.2 0.0 0.0 0.2 0.2 (*) 0.0 L L A (*) L L 0.2 0.1 2.4 2.3 (*) 0.0 2.4 2.3 (*) 0.0 F F 0.0 0.0 F F 0.0 0.0 Montana 0.1 0.1 0.0 0.0 0.1 0.1 0.0 0.0 Utah 0.7 0.7 0.0 0.0 0.7 0.7 (*) 0.0 Wyoming 0.0 0.0 0.0 0.0 (*) 0.0 (*) 0.0 0.0 Texas Rocky Mountains: Colorado Idaho Far West: Alaska 0.0 0.0 0.0 0.0 0.0 0.0 0.0 17.7 J A 0.0 18.2 J 0.5 A Hawaii (*) (*) 0.0 0.0 (*) (*) (*) 0.0 Nevada 0.5 0.5 (*) 0.0 0.5 0.5 0.1 0.0 Oregon 0.8 0.8 0.0 0.0 0.8 0.8 (*) 0.0 1.0 1.0 (*) (*) 1.0 1.0 (*) (*) H G H 0.0 I G H 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 California Washington Puerto Rico Other U.S. areas 5 (*) Fewer than 50 employees. 1. Statistics include all full-time and part-time employees on payroll and exclude contract workers and other workers not carried on payroll of the U.S. business enterprise. 2. Statistics are shown for the state in which the newly acquired, established, or expanded U.S. business enterprise is located. If the U.S. business enterprise operates in more than one state; it is the state where the largest number of employees are based; if there are no employees it is the state of incorporation of the U.S. business enterprise. 3. Current employment includes the employment of the acquired, established, or new facilities of expanded affiliates at the time the transactions occurred or the investments were initiated. 4. Planned employment consists of the current employment of acquired enterprises, the planned employment of established business enterprises once they are fully operating, and the planned employment associated with the new facilities of expanded business enterprises once they are fully operating. 5. "Other U.S. areas" consists of the U.S. Virgin Islands, Guam, American Samoa, and all other outlying U.S. areas. NOTE. Size ranges are given in employment cells that are suppressed. The size ranges are: A-1 to 499; F-500 to 999; G-1,000 to 2,499; H-2,500 to 4,999; I-5,000 to 9,999; J-10,000 to 24,999; K25,000 to 49,999; L-50,000 to 99,999; M-100,000 or more. Source: U.S. Bureau of Economic Analysis –16– Table 6.2 Current and Planned Employment 1 of U.S. Businesses Acquired, Established, and Expanded in 2021, State 2 by Type of Investment [Thousands of employees] Current employment 3 By type of investment Greenfield investment U.S. businesses acquired (2) Total (1) Total 236.9 234.5 Planned employment 4 By type of investment Greenfield investment U.S. businesses U.S. businesses established expanded (3) (4) 0.5 1.9 U.S. businesses acquired (6) Total (5) 241.4 234.5 U.S. businesses U.S. businesses established expanded (7) (8) 3.8 3.1 New England: Connecticut 1.7 1.7 0.0 0.0 1.7 1.7 (*) 0.0 Maine 0.5 0.5 0.0 0.0 0.5 0.5 0.0 0.0 Massachusetts 5.2 5.2 (*) (*) 5.3 5.2 0.1 (*) New Hampshire 0.0 0.0 0.0 0.0 0.1 0.0 (*) 0.1 Rhode Island H H 0.0 0.0 H H (*) 0.0 Vermont (*) (*) 0.0 0.0 (*) (*) 0.0 0.0 Delaware 0.2 0.2 (*) (*) 1.2 0.2 1.0 0.1 District of Columbia 0.4 0.0 0.4 0.0 0.4 0.0 0.4 0.0 0.0 Mideast: Maryland 7.3 7.3 0.0 0.0 7.4 7.3 (*) New Jersey 11.3 11.3 0.0 0.0 11.4 11.3 (*) (*) New York 14.5 14.5 (*) (*) 15.1 14.5 0.3 0.3 Pennsylvania 44.7 K (*) A 45.0 K A 0.2 Illinois 8.2 8.1 (*) (*) 8.4 8.1 0.1 0.1 Indiana 3.2 3.2 0.0 0.0 3.2 3.2 (*) 0.0 Great Lakes: Michigan 9.9 9.9 0.0 0.0 9.9 9.9 (*) (*) Ohio 7.1 7.1 (*) 0.0 7.2 7.1 0.1 0.0 Wisconsin 0.3 0.3 0.0 0.0 0.3 0.3 0.0 (*) Iowa (*) (*) 0.0 0.0 (*) (*) 0.0 (*) Kansas H H 0.0 0.0 3.8 H 0.0 A Minnesota 0.3 0.3 0.0 0.0 0.3 0.3 (*) 0.0 Missouri 0.1 0.1 (*) 0.0 0.1 0.1 (*) (*) Nebraska G G 0.0 (*) G G 0.0 (*) North Dakota 0.2 0.2 0.0 (*) 0.2 0.2 0.0 0.1 South Dakota G G 0.0 0.0 G G (*) (*) Alabama H H 0.0 (*) H H 0.0 (*) Arkansas I I 0.0 0.0 I I 0.0 (*) Florida 7.1 7.0 (*) (*) 7.2 7.0 0.2 0.1 Georgia 8.5 8.5 0.0 (*) 8.6 8.5 (*) (*) Kentucky 0.4 0.4 0.0 0.0 0.5 0.4 (*) 0.0 Plains: Southeast: Louisiana 0.6 0.6 0.0 0.0 0.6 0.6 0.0 (*) Mississippi 0.1 0.1 0.0 0.0 0.2 0.1 0.2 0.0 North Carolina I I (*) 0.0 9.5 I A (*) South Carolina H H 0.0 0.0 H H (*) 0.0 Tennessee 0.2 0.2 0.0 0.0 0.3 0.2 (*) 0.0 11.3 11.3 0.0 0.0 11.3 11.3 (*) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 2.9 2.9 0.0 (*) 3.0 2.9 (*) 0.1 A A 0.0 0.0 A A A 0.0 Oklahoma 0.3 0.3 0.0 0.0 0.3 0.3 (*) 0.0 Texas 5.2 5.2 (*) (*) 5.6 5.2 0.3 (*) Colorado 2.0 2.0 (*) (*) 2.1 2.0 0.1 (*) Idaho 0.5 0.5 0.0 0.0 0.5 0.5 0.0 0.0 Montana 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 Utah 2.6 G 0.0 G 2.6 G (*) G Wyoming 0.0 0.0 0.0 0.0 (*) 0.0 (*) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 43.6 43.6 (*) 0.0 44.1 43.6 0.5 0.1 Virginia West Virginia Southwest: Arizona New Mexico Rocky Mountains: Far West: Alaska California Hawaii 0.1 0.1 0.0 0.0 0.2 0.1 (*) 0.0 Nevada 0.1 0.1 0.0 0.0 0.1 0.1 (*) 0.0 Oregon 0.5 0.5 0.0 (*) 0.5 0.5 (*) (*) Washington 1.0 1.0 0.0 0.0 1.1 1.0 (*) (*) Puerto Rico 0.3 A 0.0 A A A 0.0 A Other U.S. areas 5 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 (*) Fewer than 50 employees. 1. Statistics include all full-time and part-time employees on payroll and exclude contract workers and other workers not carried on payroll of the U.S. business enterprise. 2. Statistics are shown for the state in which the newly acquired, established, or expanded U.S. business enterprise is located. If the U.S. business enterprise operates in more than one state; it is the state where the largest number of employees are based; if there are no employees it is the state of incorporation of the U.S. business enterprise. 3. Current employment includes the employment of the acquired, established, or new facilities of expanded affiliates at the time the transactions occurred or the investments were initiated. 4. Planned employment consists of the current employment of acquired enterprises, the planned employment of established business enterprises once they are fully operating, and the planned employment associated with the new facilities of expanded business enterprises once they are fully operating. 5. "Other U.S. areas" consists of the U.S. Virgin Islands, Guam, American Samoa, and all other outlying U.S. areas. NOTE. Size ranges are given in employment cells that are suppressed. The size ranges are: A-1 to 499; F-500 to 999; G-1,000 to 2,499; H-2,500 to 4,999; I-5,000 to 9,999; J-10,000 to 24,999; K25,000 to 49,999; L-50,000 to 99,999; M-100,000 or more. Source: U.S. Bureau of Economic Analysis –17–