Toyota, Bridgestone, Fujifilm: NC looks to attract more Japanese businesses this week
Gov. Roy Cooper and more than two dozen other North Carolina officials are in East Asia this week for the annual Southeastern United States/Japan Economic Development Conference.
The goal of this Tokyo trip, Cooper said in a statement, is to recruit more Japanese industry. It is an effort the Tar Heel State has been making for 45 years.
North Carolina operates economic development offices around the globe, and its Japanese site is one of its oldest, having opened in 1978. The following year, then-Gov. James Hunt led a three-week trade mission to the country.
By 1998, Japan was third among foreign countries, behind only the United Kingdom and Germany, for the number of companies in the state. Today, more than 27,000 people in North Carolina work at Japanese-owned companies, Cooper says.
In recent years, North Carolina has expanded its relationship with Japan. Between 2018 and 2022, Japanese firms pledged to invest $6.66 billion and create 5,166 jobs here according to the Economic Development Partnership of North Carolina (EDPNC).
In 2021, Toyota announced plans to build a battery manufacturing factory south of Greensboro, which the state anticipates could employ around 4,500 people by 2035. Late last year, Fujifilm said it will open another manufacturing site in the Triangle, adding to the firm’s existing site in Morrisville and its planned site in Holly Springs.
Another Japan-based company with a large presence in the state is Bridgestone, which has operated a tire factory in Wilson since it acquired Firestone in 1988. Cooper met with the heads of Toyota and Bridgestone this week.
Several prominent North Carolina businesses also have offices in Japan, including Raleigh software firms Red Hat and Pendo as well as Cary’s Epic Games.
Charlotte-based Bank of America also has multiple offices in the country.
Edging out neighboring states
North Carolina isn’t alone in courting foreign businesses.
“There are sort of the usual suspects who we typically compete with,” Korey Howard, international business development director at EDPNC, told The News & Observer during an interview in February.
By usual suspects, Howard meant other Southeastern U.S. states.
In April, Virginia Gov. Glenn Youngkin met with Japanese Prime Minister Fumio Kishida during his first international trade mission. Tennessee Gov. Bill Lee visited Japan in 2019 during his first foreign economic development trip. Among the state’s with delegations in Tokyo this week was Alabama, headed by its commerce secretary.
Cooper previously traveled to Japan in 2017 in his first year as governor. Joining him this week were more than 30 other North Carolina officials, including EDPNC CEO Christopher Chung and N.C. Commerce Secretary Machelle Baker Sanders.
“Over thousands of miles of land and sea and several generations, North Carolina’s relationship with Japan has grown strong and resolute, producing valuable successes for our people,” Cooper said at the conference, which runs through Oct. 15. “We look forward to continuing to work together to bring success to both the Southeastern United States and Japan through this valuable partnership.”
The Southeastern United States/Japan Economic Development Conference has been held annually since 1976. North Carolina might have a leg up at next year’s event, which will be held in Charlotte.
This story was originally published October 12, 2023 at 12:27 PM with the headline "Toyota, Bridgestone, Fujifilm: NC looks to attract more Japanese businesses this week."
