Investment Monitor, which publishes business intelligence about foreign direct investment (FDI), recently published its guide for investors about the 10 states that the publication defines as in the Southeast. They include the ones that you would expect – Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, and Tennessee. Not included is Kentucky and added are North and South Carolina and Virginia.
The analysis was written by Naomi Davies, an FDI Consultant at Investment Monitor, and we pulled out the following interesting bullets.
- Floridais by far the largest economy within the region and the fourth-largest in the country, behind California, Texas and New York. If it were an independent nation, Florida’s economy would rank just behind Mexico and ahead of Indonesia and the Netherlands. At $1.2 trillion, it accounted for 26.6 percent of the southeast’s overall gross domestic product (GDP) in 2021.
- Georgia places second with GDP of $683.3 billion that accounted for 14.8 percent of the region’s total in 2021. North Carolina comes in third with 14.2 percent of the region’s GDP.
- Mississippiwas the smallest economy in the region at $125.1 billion in 2021, accounting for 2.7 percent of regional GDP. It was also the only Southeast U.S. state to experience a decline in population.
- Tennesseesaw the largest increase in GDP in 2021, growing by 13.2 percent from 2020 that was driven by a surge in consumer spending.
- South Carolinawas the southeast’s leading FDI destination per capita in 2020, attracting 0.88 projects per 100,000 people.
More facts can be found here.