OROVILLE, Calif.--(BUSINESS WIRE)--One Northern California town is coloring outside national lines to overcome the state’s reputation as one of the least business-friendly regions in America. In a move likely to surprise many domestic investors, the City of Oroville is touted as one of eight “Top Micro American Cities of the Future 2015/2016” in the April/May 2015 issue of fDi Magazine for its foreign direct investment (FDI) strategy. Oroville is now poised to become the golden state’s next great market for foreign investments.
“It’s exciting to see information about Oroville reaching a global audience,” notes Oroville Economic Alliance (OEA) Founding Director Michael Glaze. “Those of us who call Oroville home feel like our area is California’s best-kept secret. We are pleased to know that our efforts to attract new business with the cheapest water in the nation and other incentives are receiving this level of attention.”
The new ranking in fDi Magazine positions Oroville as one of the nation’s top prospective markets for foreign direct investment and is based upon a variety of metrics including investment assistance programs, economic incentives, strategic initiatives for engaging with investors and promotional activities. Factors such as the average cost to rent office space, water rates and power rates were also considered.
“We’ve done a lot of work over the past few years to solidify Oroville’s position as ‘California’s Business Oasis’ and start courting businesses in need of unsaturated markets for expansion and relocation,” explains Glaze. “The fDi Magazine ranking is an early indicator that our efforts are working, and we plan to generate even more interest in Oroville in the future.”
The “American Cities of the Future 2015/2016” rankings represent quantitative and qualitative research on 421 cities throughout North, Central and South America. The FDI strategy ranking was the only qualitative category considered for the biennial list, and it was one of six total metrics evaluated. Quantitative rankings in categories such as Economic Potential, Business Friendliness and Connectivity were also produced, with overall top marks going to New York, San Francisco and Houston, which ranked first, second and third, respectively.
"American Cities of the Future is the largest regional rankings we publish in terms of geographical ground covered and it is an intensively competitive field that we survey. Despite a global slowdown in FDI last year we have found many bright spots in the investment landscape of the Americas, and all of the cities that appear in these rankings should be proud of their strengths and are encouraged to make the most of them when pitching for FDI projects,” said Courtney Fingar, editor-in-chief of fDi Magazine.
fDi Magazine is published bi-monthly to more than 15,000 corporate decision-makers and investors worldwide.
ABOUT FDI MAGAZINE: Launched in 2001, fDi Magazine is published by the Financial Times Ltd. as the flagship publication for the fDi Intelligence portfolio, providing senior decision-makers and crossborder investment professionals with an up-to-date image of the ever changing global investment map. fDi Magazine’s editorial team, supported by a network of foreign correspondents and data proprietary tools, benefit from highest-level access to market-movers and policymakers. For more information, visit www.fdiintelligence.com/fDi-Tools/fDi-Magazine.
ABOUT OROVILLE ECONOMIC ALLIANCE: Oroville Economic Alliance is a private and public-sector coalition united in its goal—and passion—for bringing new business from across the country and around the world to Oroville and Butte County. Known as “California’s Business Oasis,” Oroville is unique for its business-friendly combination of abundant affordable acreage, ready workforce, strategic location, and lowest-priced, highest-quality water in the nation. Participating members of the alliance include South Feather Water & Power Agency, Oroville Area Chamber of Commerce, City of Oroville, Butte County, and Oroville Economic Development Corporation. For more information, visit www.cabusinessoasis.org.