The Organization For International Investment

FDI's $400 Billion Secret Ingredient

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8 FDI's $400 Billion Secret Ingredient Since the 1950s, workers at New England Airfoils Products (NEAP) have manufactured high precision aerospace gas turbine components in Farmington, Connecticut. The company's success became integral to the community, employing more than 450 people at its peak. Howev- er, market forces of the last decade hit NEAP particularly hard. Revenue fell, and the workforce was cut. Across the Atlantic Ocean, Pietro Rosa TBM, a fifth-gen- eration Italian company spe- cializing in the engineering and manufacturing of turbine and aerospace components, knew it had to be closer to its U.S. customers and decided to enter the U.S. market. The company began its due diligence and worked closely with the State of Connecticut to determine its path forward, ture and technology and working closely with custom- ers, will help Pietro Rosa meet the needs of tomorrow's mar- ketplace demands from the company's Connecticut op- eration. When asked about the State's role in its business decision, Clive Cunliffe, a corporate strategy & communications executive with Pietro Rosa TBM, expressed deep appre- ciation: "The State of Connecticut has been a very supportive partner with whom we can plan a long and successful future business in the state. They were critical in both the pre-acquisition phase and the ever important journey as we begin to grow the business. They have assisted us from both a fiscal perspective in the form of a low interest loan and guided us to the tremen- dous network that exists in the Connecticut aerospace community." Connecticut Approach is akin to a customized con- cierge service. Each investor whether through a greenfield or acquisition. The choice became clear: acquiring an already es- tablished asset and anchor- ing its roots in Farmington, a community with a rich aero- space history, created an unmatched opportunity to succeed. In February 2016, Pietro Rosa TBM announced its acquisition of NEAP, rescu- ing the dying company and committing to a realistic and worthy goal of hiring 100 peo- ple over the next five years. This goal, coupled with ongo- ing investments in infrastruc- Cross-Border M&A: Reinvigorating American communities The State Connected the Company to Connecticut's Globally-renowned aerospace and manufacturing networks and helped integrate the firm and its employees into the community. Connecticut, to some, is a coastal New England state filled with rustic colonial-era towns. Hundreds of global companies have realized that Connecticut is much more: it is a globally competitive market that wel- comes companies and helps them succeed throughout their lifetime as investors.

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