In an article in fDi Intelligence, BLS & Co. Managing Director Tracey Hyatt Bosman dives into the Biden administration's FDI legacy. Read more from the article below:
Hype and reality
If investment pledges have fuelled the hype around the Biden administration’s industrial policies, at times the execution of these projects has struggled to live up to expectations.
Projects during the Biden era that have gone awry include Swiss group Meyer Burger’s scrapped expansion of a solar cell manufacturing facility in Colorado, and Ford halving headcount and cutting production by 40% at its electric vehicle battery facility under construction in Michigan. Enel’s $1bn solar panel project in Oklahoma is also on hold, according to Financial Times investigations.
Early figures confirm the widening gulf between hype and reality. The level of planned capital expenditure by foreign investors in manufacturing fell to its weakest level in a decade in 2023, according to figures from the US Bureau of Economic Analysis.
"Site selectors are divided over the gravity of the issue. Tracey Hyatt Bosman, managing director of BLS & Co, has observed first-hand the time lag between the huge number of project announcements and operations commencing. But she notes that 'even if everything goes to plan, it’s still too early' for all of these projects to have come online."
Read more here.
Tracey Hyatt Bosman develops and executes incentives and location selection strategies for BLS & Co.'s corporate and institutional clients. She is a certified economic developer with twenty years of professional experience across a wide range of sectors, including data centers, manufacturing, headquarters, back office and contact center operations, and logistics.