The City of High Point has been recognized as one of the “American Cities of the Future” for 2019-2020 by an internationally known publication.

The foreign accolade comes from fDi Magazine – a publication of the Financial Times of London that focuses on foreign direct investment in cities.

Foreign direct investment is when a firm or an individual in one country makes a business investment in another country.

In the magazine, High Point was ranked in the “Top 10” in the category of “cost effectiveness” for municipalities in North and South America with populations between 100,000 and 350,000.

The city has been attracting a lot of new business in the past few years and this recent recognition at an international level is only expected to help those efforts along.

This week, Loren Hill, the president of the High Point Economic Development Corp., which works to bring new businesses to High Point, said he’s very pleased with the recognition that he says is well-deserved for the city.

“There’s a reason why High Point calls itself ‘North Carolina’s International City,’” Hill said.

The city just wrapped up the October 2019 furniture market, which draws visitors and companies from around the world to the city.

High Point currently has over 80 fulltime international companies with fulltime operations in the city.

Hill said that city officials and his economic development office work closely with the internationally based companies already in the city.

“We also interact regularly with international clients that are considering opening businesses here,” he said. “We will certainly let such clients know about this ranking and how cost effective it will be for them – like those companies before them – to invest in High Point.”