Local News

What Slowdown? Foreign Companies Expanding Triangle Operations

Posted March 6, 2001 6:00 a.m. EST

— The Triangle has not been immune to job cuts brought on by the current economic slowdown. But many foreign firms are not firing people -- they are hiring.

Textile manufacturer Freudenberg, Japanese pharmaceuticals group Eisai, Toyota parts supplier Aisin A.W. and Sumimoto Electric are all expanding.

The Triangle organization that lures businesses here says that foreign firms take a long-term view of the economy because they have investments across the globe.

When it comes to foreign investment in the Triangle, recruiters say the amount of inquiries from outside the country is up from a year ago.