California attracted $12.9 billion in new foreign direct investment in 2024, ranking third among all U.S. states and cementing its standing as one of the world's premier destinations for international capital, according to a new study by law firm Becker & Poliakoff analyzing the most recent full-year federal data.
The state's FDI performance is anchored by three structural advantages: Silicon Valley's entrenched tech and semiconductor ecosystem, a globally competitive life sciences sector, and Pacific Rim port infrastructure that draws sustained capital flows from Japan, South Korea, and Taiwan. Foreign-owned companies operating in California support 885,600 jobs — the highest employment figure tied to foreign investment of any state in the country.
Texas led all states with $22.8 billion in new FDI, followed by Georgia at $16.3 billion. California's $12.9 billion placed it well ahead of Ohio ($7.6 billion) and North Carolina and Massachusetts, which each captured $5.6 billion. Florida, New York, Virginia, and Washington rounded out the top 10.
The findings arrive as the United States holds the dominant global position in attracting foreign investment. America drew $279 billion in FDI in the most recent full-year period — more than double China's $116 billion and nearly double Singapore's $143 billion. The report notes that FDI leadership carries implications well beyond economics, reinforcing dollar dominance, expanding Washington's leverage to impose sanctions, and underpinning the 15 million American jobs supported by foreign-owned enterprises nationwide.
For California, the numbers underscore a competitive position that extends across multiple industries. While the state's regulatory and tax environment has drawn scrutiny from business groups in recent years, the FDI data suggest international capital continues to view California as an irreplaceable node in the global economy — particularly in sectors where geographic and talent concentrations are difficult to replicate.
The full rankings span a range of global economies. Singapore placed second globally at $143 billion, followed by Hong Kong ($126 billion), China ($116 billion), and Luxembourg ($106 billion). Canada, Brazil, Australia, Egypt, and the UAE completed the top 10 countries by FDI attracted.
The Becker & Poliakoff analysis is based on the most recent full-year federal data available through 2024.
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