| BALTIMORE, MD Wed, May 7, 2008 In partnership with the U.S. Department of Commerce, Governor Martin O’Malley has proclaimed May 5-9 as “Invest in America Week” in Maryland. The new initiative, in which 18 U.S. states, including Maryland, are participating in this week, recognizes the significant impact that foreign direct investment plays in the nation’s economic growth and job creation. Maryland’s “Invest in America” Week event, which will include U.S. Department of Commerce officials, Maryland Department of Business and Economic Development Secretary David Edgerley and Montgomery County officials, will take place today, May 7, from 1 p.m. to 2:30 p.m. at QIAGEN Sciences, a Dutch-owned biotechnology company based in Germantown and Gaithersburg.
“Our strategic location, outstanding business climate and easy access to many key federal agencies makes Maryland a very attractive location for foreign-owned companies looking to establish a footprint in the U.S. marketplace,” said Governor Martin O'Malley. “Through strategic and aggressive marketing efforts, Maryland is now home to more than 550 foreign-owned firms and we are continuing to build on our world-class reputation.”
Investment by foreign-owned companies in Maryland is continuing to grow, climbing to $15 billion in 2007, up from $11.9 billion in 2005. So far in 2008, two of the largest deals in Maryland by foreign-owned companies included the purchase of Sparrows Point Steel Mill in Baltimore by Russia’s largest steel producer, OAO Severstal, and the purchase of Rockville-based CoGenesys by the Teva, an Israeli-based bioscience company and the largest manufacturer of generic drugs in the world.
“Montgomery County is very proud that our own QIAGEN was selected by the State as a shining example of positive foreign direct investment,” said Montgomery County Executive Isiah Leggett. “I commend the U.S. Department of Commerce for initiating ‘Invest in America Week’ to help bring greater recognition and attention to the vital importance continued and expanded foreign investment plays in the economic well being of localities, states and regions across America.”
“When Qiagen first established its U.S. headquarters in 2002, we looked for a state with a rich source of highly educated professionals, a technology-friendly business environment and a proximity to the country’s seat of government,” said Douglas Liu, QIAGEN’s Vice President of Global Operations. “Maryland fit that bill and we have flourished here.”
An estimated 105,000 jobs, or 5.5 percent of the State’s private sector employment, can be attributed to Maryland’s foreign-owned firms, ranking Maryland 17th in the nation in the number of those employed by U.S. subsidiaries, according to 2005 data. Among the top countries with U.S. headquarters or subsidiaries in Maryland are the United Kingdom, Japan, Germany, Canada, France, The Netherlands, Italy, Switzerland, Israel and Finland.
Nationally, more than five million Americans work in jobs created by foreign direct investment, and FDI accounts for 10 percent of U.S. capital investment, 15 percent of annual research and development expenditures, and 20 percent of U.S. exports. On average, U.S. subsidiaries of foreign firms pay 25 percent higher wages than that of U.S. establishments, making these jobs highly sought-after by U.S. workers.
About DBED:
The Maryland Department of Business and Economic Development stimulates private investment and creates jobs by attracting new businesses, encouraging the expansion and retention of existing companies, and providing workforce training and financial assistance to Maryland companies. The Department promotes the State's many economic advantages and markets local products and services at home and abroad to spur economic development and international investment, trade and tourism. Because they are major economic generators, the Department also supports the Arts, film production, sports and other special events. For more information, visit www.choosemaryland.org.
About QIAGEN:
QIAGEN N.V., a Netherlands holding company, is the leading global provider of sample and assay technologies. Sample technologies are used to isolate and process DNA, RNA and proteins from biological samples such as blood or tissue. Assay technologies are used to make such isolated biomolecules visible. QIAGEN has developed and markets more than 500 consumable products as well as automated solutions for such consumables. The company provides its products to molecular diagnostics laboratories, academic researchers, pharmaceutical and biotechnology companies, and applied testing customers for purposes such as forensics, animal or food testing and pharmaceutical process control. QIAGEN's assay technologies include one of the broadest panels of molecular diagnostic tests available worldwide. This panel includes the only FDA-approved test for human papillomavirus (HPV), the primary cause of cervical cancer. QIAGEN employs more than 2,700 people in over 30 locations worldwide. Further information about QIAGEN can be found at www.qiagen.com.
|
