Canfield: $10 Billion in Japanese investment has energized Alabama economy since 1999

Alabama’s economy is supercharged by global partners. One of the state’s strongest relationships globally is Japan. Alabama Commerce Secretary Greg Canfield was in Tokyo recently for the 45^th meeting of SEUS-Japan.

“It is a tremendous honor to address the distinguished delegates gathered here for the 45th joint meeting of SEUS-Japan,” Canfield said.

“It is also a pleasure to return to Tokyo, one of the world’s most beautiful and dynamic cities. Being represented here is important to Alabama because it is an opportunity to renew ties with our friends in Japan — one of my state’s most important global partners. The long-standing partnership between Japan and Alabama continues to spark economic growth, create opportunity, and foster deep friendships.”

The 45th annual joint meeting of the Southeast U.S.-Japan and the Japan-Southeast associations, known as SEUS Japan features a full agenda of speeches, high-level panel discussions and networking opportunities.

Canfield said that the annual SEUS Japan gathering allows members of the Alabama delegation to reinforce friendships and bonds that have been established over decades of mutually beneficial cooperation and to explore pathways to future collaborations.

“Today, an estimated 90 Japanese companies have established operations in Alabama, where they have become employers of choice and enduring symbols of opportunity and growth,” Canfield continued. “These companies stand out as solid community partners and sturdy economic pillars in their Alabama hometowns. They’re also generous — to cite but one example, Toyota USA recently announced plans to donate nearly $7 million to Huntsville City Schools with the goal of boosting the area’s industrial workforce through STEM education programs as well as providing career support for young classroom teachers.”

“The impact of Japanese investment in Alabama has been massive,” Canfield explained.

“Back in 1999, Honda announced plans to open an auto assembly plant in Alabama, and since that milestone, nearly $10 billion in Japanese investment has flowed into the state. We’ve been lucky to see many other world-class companies join Honda and Toyota, including Mazda, Daikin, Toray Industries and Rheem, just to name a few. Combined, this investment has generated almost 25,000 job commitments — and elevated the fortunes of families and communities. All the impressive numbers, however, don’t tell the whole story behind the special relationship between Alabama and Japan. An important dimension is the enriching cultural and intellectual aspects that allows us to better understand each other.”

Canfield was appointed as director of the Department of Commerce on July 18, 2011. Prior to joining Commerce, Canfield served in the Alabama House of Representatives where he was the Chairman of the Commerce & Small Business Committee.

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