Board awards two on-call foreign direct investment consulting contracts

Staff recommended awarding two on-call consulting contracts to support foreign direct investment (FDI) attraction for the ocean economy after a competitive RFP produced multiple qualified firms; the board approved both awards on a voice vote. Staff characterized the consultants as providing investor attraction, stakeholder engagement, cluster development, and analysis support to bring jobs and investment to the state.

A board member asked whether "foreign direct investment" meant overseas capital rather than out-of-state U.S. investors; staff confirmed that in economic development parlance FDI typically refers to overseas investment and said the consulting engagements could target sovereign wealth funds or other international investors as appropriate. Staff named Dustin Farnell (principal, Spirit Advisory) as present and said the contracts are structured as on-call engagements to define scopes collaboratively as needs arise.