The process of attracting FDI is nuanced. At its most basic, it is a marketing and sales activity that requires extensive customer service and a willingness to solve problems creatively. Investors have different needs during the process. An effective FDI attraction initiative will meet the needs of potential investors by using available resources strategically. These may be as simple as providing information or developing long-term relationships, and as complicated as offering financial incentives to overcome inherent weaknesses in the community’s business climate or product offerings. During the different stages of the location exploration and site or facility development process, economic development organizations will need to be ready with the best answers and effective tools to demonstrate value to the investor.
In this section, we help you think through many elements of executing your plan to attract foreign direct investment. The section is divided into four components: