In 1974, in the United States in general and Florida in particular, there was growing concern over the rising level of investment from abroad. The Office of the Secretary of State in Tallahassee sponsored a study of the impact of the non-U. S. investment on the state's economy. The research began in 1975 and was financed by state university funds under the Service Through Application of Research (STAR) program; its purpose was to collect information on direct foreign investments in Florida, evaluate their costs and benefits, and explore public policy options.
Florida was not alone in its attention to foreign direct investment. A number of states, regions, and even cities have been similarly interested. 1 Most published material has dealt with foreign investment on a national basis; 2 clearly, a state must be considered from a different vantage point. In my study, I have sought to isolate some of the issues distinctive to a regional (particularly a state) approach to the subject.
Since 1974-1975, non-U. S. investments in Florida have grown rapidly, making the topic even more meaningful. In December 1977, I presented a report to the Office of the Secretary of State of Florida. The report generated substantial local, national, and international interest, so much that it seemed worthwhile to publish the findings and bring them to a far wider audience. The present book is based on the December 1977 report. I have revised and updated it to reflect the new flood of foreign investment into Florida in the first half of