Japan hosts NC governor, business leaders to talk future investments in the state

RALEIGH, N.C. (WTVD) -- Last week, Governor Josh Stein led a 51-person delegation to the Southeast US and Japan Annual Joint Meeting -- an opportunity to recruit Japanese investment at a time of increased instability in foreign trade due to tariffs.

The meetings, which several state officials and business leaders from across the Southeast attended, were an opportunity to build trust between existing partners and find pathways for new investment from North Carolina's largest foreign investor.

"It's no secret that international partners, Japan and elsewhere, have felt a little bit unmoored as our trade policy has shifted in this administration," said NC Commerce Secretary Lee Lilley, one of the members of the traveling delegation. "We have tried to be a solid source for them throughout that process. You know when you deal with North Carolina, what you're dealing with. A place that really values your business, that's going to work to provide a great workforce, great sites and a really great community for you."



In total, there are roughly 225 Japanese companies doing business in North Carolina, with a total investment of about $20 billion. The annual meetings included business leaders from across the Southeast, all vying for investment, but Lilley says North Carolina's talent pool has proven to be a separator.



"Each state is doing their own pitch to Japanese business while we're there. So it's interesting to see what other states pitch. I got to tell you, what sets us apart is our talent and our ability to produce more talent all the time," he said.



Lilley called the in-person meetings invaluable and said building trust was the primary objective of the group as many Japanese business leaders grapple with the impacts of tariffs.

In September, Fujifilm Diosynth Biotechnologies held a grand opening for its Holly Springs facility. The $3.2 billion biopharmaceutical manufacturing facility employs 700 people, a figure the company expects to double by 2031.

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In April 2024, Former Japanese Prime Minister Fumio Kishida and his wife, Yuko Kishida, traveled to North Carolina. Kishida said in a news conference before his visit that he chose to stop in North Carolina to show that the Japan-U.S. partnership extends beyond Washington, according to a provisional translation posted on the prime minister's website.