Gov. Bill Haslam and Economic and Community Development Commissioner Randy Boyd are traveling to Germany next week to meet with companies doing business in Tennessee and to try and recruit new businesses to the state.

There are 103 German-owned companies in Tennessee that have invested nearly $5.3 billion in the state and employ almost 14,000 people, according to the Tennessee Department of Economic and Community Development. That includes Volkswagen's plant in Chattanooga.

Germany is the second-largest source of foreign direct investment in Tennessee, behind Japan.

“So far this year, foreign-owned companies have invested $1.2 billion in Tennessee and committed to create nearly 4,800 jobs for Tennesseans," Haslam said in a statement. "This is a tremendous opportunity to continue to build on our international recruitment successes and promote the great things Tennessee has to offer."

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Haslam and Boyd will leave Monday, Oct. 31, and return Friday, Nov. 4. They will meet with German executives who already operate businesses in Tennessee, and also pitch the state as a business location to German companies interested in setting up operations in the Southeastern U.S.

"Governor Haslam and I look forward to building upon Tennessee's existing business partnerships with German companies and forging new ties that can have a lasting impact on our state's communities," Boyd said in a statement.

According to TNECD, there are roughly 920 foreign-owned businesses in Tennessee that employ more than 123,000 people. In the past decade alone, the number of foreign-owned companies in the state has increased more than 43 percent.

Haslam and Boyd took a similar trip to Japan in May, and to Ireland in June. Boyd also traveled to Japan in September.