Voestalpine’s direct reduction plant (above) in Corpus Christi, Texas, is the largest single direct investment by an Austrian company in the U.S., totalling to more than USD 1 billion.
Photo: Courtesy of Voestalpine
According to new data on foreign direct investments (FDI) in the United States recently released by the U.S. Department of Commerce, Austria takes second place in the ranking of countries with the fastest growing FDI in the U.S. Between 2015 and 2020, direct investments from Austria increased by 40.1%. The total FDI from Austria in the U.S. is estimated at USD 17.184 billion in 2020.
FDI from Austria is currently sustaining 33,500 jobs in the United States. The focus of Austrian investments in the U.S. lies primarily on industrial equipment, followed by software and IT services, as well as plastics, metal products, food and beverages, and electrical components sectors.
Read more: Direct Investment by Country and Industry, 2020 (U.S. Department of Commerce, Bureau of Economic Analysis)