Despite the economic slowdown in 2007, brought on by the housing market slump and banks tightening credit availability, the United States continued to invest heavily in France.

n 2007, direct investment in France by U.S. companies created or maintained 5,668 jobs, while overall incoming foreign direct investment represented 34,517 jobs, Philippe Favre, President of the Invest in France Agency, the economic development arm of the French government, announced today.

Once again, the U.S. contributed the largest single-country share of foreign direct investments in France, accounting for 16% of all jobs created. Business expansions accounted for 45% of the investments, reflecting a strong confidence in the future of France's economy.

Innovation and Services Major Draw

While the average size of U.S. investments (43 jobs) has gotten smaller, recent trends show a rise in the quality of jobs created, with the latest U.S. investments focusing on services and innovation. The service sector continued to be a hot growth area for U.S. investors, accounting for 45% of the jobs created or maintained by U.S. companies.

U.S. investors also continued to invest in the high-tech sector, representing 25.5% of the jobs created. R&D, logistics and clean technologies were leading magnet-sectors for U.S. investors.

The U.S. and France

The U.S. and France have a close and longstanding business partnership. The U.S. is the leading foreign investor in France, with nearly 3,000 companies supporting 600,000 French jobs, while France is the second largest investor in the U.S., supporting almost 550,000 American jobs. Approximately

$1 billion in commercial transactions take place between France and the U.S. every business day.