Normally, public policies toward foreign investment are assumed to be matters of national concern. Does a state have the right to develop procedures relating to non-U. S. investment? 1 Is foreign investment "foreign commerce" and thus covered under the commerce clause of the Constitution that reserves all matters of foreign commerce to the federal government? 2 States have for many years dealt with foreign investment and continue to do so. The commerce clause has never been used successfully to challenge existing state laws on non-U. S. investments. 3
State government measures regarding foreign investment range from promotion to formal and informal monitoring, restraint, and even prohibition. The "do nothing" approach is another option. When this study was proposed in 1974, Florida had no defined policies toward non-U. S. investments; since then, several have evolved.
Florida has become committed to attracting non-U. S. investment that will provide jobs and stimulate economic growth. The commitment is focused on bringing in new industry, with special emphasis on clean industry. Interest in attracting international banks has also emerged, although it is tempered by reservations about allowing them to compete in domestic banking.
During 1977-1978, Governor Reubin Askew traveled abroad, endeavoring