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REGIONS AMERICAS CITIES OF THE FUTURE


same year, Amazon announced it would add another 3000 jobs to its Vancouver technology hub. The city’s success this year is explained by its appearance among the top 10 across almost every category studied. It came in first for Busi- ness Friendliness, second for Economic Poten- tial, sixth for Human Capital and Lifestyle and fifthfor Connectivity. Seattle is secondin the LargeAmericas Cities


ranking this year and also came second among its peers for Business Friendliness and first for Economic Potential. The city had 576 outward FDI projects in the period analysed, coming in behind only NewYork and SanFrancisco. Mississauga once again takes homethe title


Mountain high: Vancouver has topped the Large Americas Cities of the Future overall ranking


ments from the likes of Germany-based DHL Express, Japan-based NTT and UK-based Frank Recruitment Group. In addition, Chicago came in second for Human Capital and Lifestyle and fifth for Business Friendliness. Mexico City has once again been crowned


best in Latin America in this year’s ranking. It received a total of 353 inward FDI projects in the period analysed – the highest figure for any Latin American location and the third highest across all locations studied. Sixty-eight per cent of investment projects were in business services or sales, marketing and support activities, and the city represents 16% of all projects into the country for the period December 2015-Novem- ber 2020. It is also one of two Latin American locations to be ranked among the top 10 Major Americas Cities in the Economic Potential cate- gory. In 2020, Netflix announced it would relo- cate its Latin America headquarters to Mexico City fromSão Paulo, Brazil. Bogotá has jumped from third to second


place among Latin American cities in this year’s ranking, and represents 44% of total inward foreign investment projects in Colom- bia. In 2019, US-based Concentrix opened anew customer contact facility in Bogotá, which will bring in 1000 new jobs, and Argentina-based Mercado Libre opened a technology and inno- vation centre in the city in 2020, creating 200 new jobs. São Paulo has come in third in the Latin American chapter of this year’s Americas Cities of the Future ranking and represents24% of total inward FDI projects in Brazil. In 2020, the city received investments from the likes of US-based Dell Technologies, Germany-based Saertex Group and Hong Kong-based Binance. The Braziliancity is also the second LatinAmer- ican location to appearamong the top 10Major Americas Cities for Economic Potential. Vancouver has been named fDi’s Americas


City of the Future in the ‘large cities’ category. Cities in this category have either an immediate citypopulation over 500,000 plus a LargerUrban Zone (LUZ) population of more than 1 million, or an LUZ of more than 2 million.Almost 36%of Vancouver’s inward FDI projects in the period analysedwere in the softwareandIT services sec- tor and the city ranked first in North America for high-tech software job growth in 2020. That


26


of fDi’s Mid-Sized Americas City of the Future. Locations in this category have either an imme- diate city population of more than 200,000 plus a wider LUZ of more than 750,000, or an immediate city population of more than 350,000. Mississauga also came in second for both Economic Potential and Business Friendli- ness, and third for Connectivity. The city in fact experienced an increase in foreign investment project numbers in 2020 compared to 2019, according to fDi Markets data, making it a unique case in the context of Covid-19 and its impact upon FDI figures across the region. One significant project in 2020 came from


Switzerland-based Roche Group. The company established its Global Pharma Technical Opera- tions site at its Canada headquarters in Missis- sauga. The project will involve an investment of $500mthroughto2025andhascreated200jobs, withplans to createafurther300by2023. All top three Mid-Sized Americas Cities of the Future are Canadian, withHamiltonandQuebeccomingin second and third place respectively. Santa Clara, California has been crowned


fDi’s Small Americas City of the Future this year, after coming second in the last edition of the ranking. Locations in the Small Cities cate- gory have immediate city populations between 100,000 and 350,000. Santa Clara, located in Silicon Valley andhome to semiconductor chip manufacturer Intel, has also come second in Economic Potential and third in Business Friendliness. The city received four inward headquarters projects in the period analysed, including an investment from data specialist Hitachi Vantara, a subsidiary of Japan-based Hitachi, which has opened an expanded head- quarters location in the city. Palo Alto, California once again came in at


the top of fDi’s Micro Americas Cities of the Future ranking (locations with immediate city populations below 100,000), and first for Eco- nomic Potential. The city had 232 outward FDI projects in the period analysed (a significant number for a micro city), 48% of these in the software and IT services sector. Likewise, 46% of the city’s inward projects were in this sector, all in keeping with its status as a tech hub and the “birthplace of Silicon Valley”. Palo Alto also experienced a slight increase in inward projects in 2020 compared to 2019, including the open- ing ofNorway-based Strise’s US headquarters.■


www.fDiIntelligence.com June/July 2021


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