Four states/provinces attracted 33% of FDI into North America in 2011, according to The fDi Report 2012 released by fDi Intelligence. The US state of California was the leading destination for FDI in North America, attracting 12% of inward FDI projects in 2011, followed by the US state of New York (8%), the Canadian province of Ontario (7%) and the US state of Texas (6%). The fastest growing of the top 15 states/provinces for FDI in 2011 were the Canadian province of Alberta, and the US states of New Jersey, Massachusetts and Pennsylvania.
While California was the leading destination in North America for outward FDI, with 629 projects in 2011, of the top 15 outward investors, Ontario recorded the fastest growth in outward FDI in 2011, with a 50% growth in project numbers. The Canadian province of Quebec also saw a substantial increase in outward FDI with a 33% increase in FDI projects in 2011. The US states of Washington, Georgia, Florida, Texas and New Jersey also all saw strong growth in outward FDI.
Coal, oil and natural gas and renewable energy were the top two sectors for FDI in 2011, accounting for 34% of capital investment in North America. The ranking is reversed from 2010, when renewable energy was the leading sector followed by coal, oil and natural gas. Focus on investment opportunities in shale gas and oil is the main factor behind the change in ranking, which saw the sector increase its capital investment in North America by nearly 300% in 2011.
Chemicals, plastics and rubber was the third leading sector for FDI into North America in 2011, due to strong growth in chemicals and rubber. The rubber sector grew by more than 300% in capital investment from 2010, while the chemicals sector witnessed a more than 100% increase in capital investment from 2010. FDI in the metals and minerals sector fell from $11bn capital investment in 2010 to about $6bn in 2011.