KC SmartPort’s 2024 Annual Industry Briefing gathered 650 industry leaders to share insight into global economic trends, corporate site location drivers and KC’s standing as a market competing for foreign direct investment.
The event featured Bearnard Baumohl, chief global economist with the Economic Outlook Group, and David Hickey, global managing director at Hickey and Associates. They shared insight into the future of global investment and its impact on U.S. industrial development, supply chain shifts and workforce trends.
“Construction spending in U.S. manufacturing has taken off since the passage of legislation including the Inflation Reduction Act (IRA) and the CHIPS Act, contributing to growing economic activity that’s gaining ever-more attention from companies around the globe,” said Bahmohl. “The significant growth in U.S. jobs is attributable to reshoring and an increase in FDI, with U.S. employment in manufacturing now exceeding pre-pandemic months – and that will continue to rise.”
Attendees also heard about the strategic advantages that position Kansas City as a hub for global investment activity. “Industrial corporations from around the world are seeking the best ways to optimize their operations, looking more and more at North America. Cost of power and labor, supply chain disruptions and government policies all play into companies’ decisions of where to invest and grow,” said Hickey. “The strategic advantages of Kansas City including prime location and transportation infrastructure position it well for continued foreign direct investment.
Thank you to BNSF Railway, Elevate Edgerton and Panasonic Energy, and all of our sponsors, that made this year’s event possible.