One important accomplishment was MTO's work spearheading a foreign direct investment research assessment as part of the Global Cities Initiative, a foreign direct investment pilot project. The Global Cities Initiative is a joint project of Brookings and JP Morgan Chase.

"Foreign direct investment is an important part of the Minnesota economy, helping to create jobs, open new markets and bring investment dollars for new or expanded facilities in the state," said Katie Clark Sieben, commissioner of DEED. "This FDI pilot project along with the state of Minnesota's new FDI program and foreign trade offices are positioning our state for future economic growth.

Minneapolis-St. Paul was selected with five other U.S. metropolitan areas for the pilot project aimed at attracting more foreign direct investment to their regions. Minneapolis-St. Paul joined Columbus, Ohio; Portland, Ore.; San Antonio; San Diego; and Seattle in developing a foreign direct investment plan that will serve as a blueprint for becoming more competitive globally.

Under the pilot project, Minneapolis-St. Paul develops a foreign direct investment market assessment and plan, along with an implementation plan and a policy memo. This work combined with the region's existing export plan will form the core strategy for strengthening the region's global economic connections and competitiveness.

DEED partnered in the application for the pilot project with the Minneapolis Saint Paul Regional Economic Development Partnership (GREATER MSP) and the St. Paul Port Authority.

Also in 2014, The Minnesota Trade Office announced the opening of two new trade offices. The new trade offices, in Sao Paulo, Brazil; and Seoul, South Korea are designed to promote Minnesota exports and foreign direct investment in the state. They join existing Minnesota foreign trade offices in Dusseldorf, Germany and Shanghai, China. The offices will direct 40 percent of their efforts on export promotion and 60 percent on foreign direct investment attraction. The state's first director of foreign direct investment, Laurence Reszetar, at the Minnesota Trade Office will oversee the offices and spearhead efforts to attract more foreign direct investment to the state.

South Korean companies had worldwide foreign direct investment of $23.2 billion in 2012, while Brazilian companies spent $13.7 billion internationally. Both countries tend to invest in such sectors as renewable energy, mining, agriculture, and food production and processing - all areas of strength in Minnesota.

State officials said foreign trade offices are smart investments that pay off by generating business activity. When Minnesota opened its Shanghai office in 2005, state exports to China increased 71 percent in the first year.