Archive for the ‘SelectUSA’ Category

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The Innovative and Useful U.S. Cluster Mapping Tool (Video)

March 25, 2015

This post originally appeared on the Department of Commerce blog.

When you think of business and investment opportunities in the United States, where’s the best place to start?  America is made up of 50 states plus territories and each location has its own unique economic profile. The U.S. Cluster Mapping Tool, a combined effort of the Harvard Business School and the U.S. Economic Development Administration, is THE starting place for anyone looking to expand their business in the U.S. The free, online Cluster Mapping tool uses more than 50 million data records to help you identify industry regional clusters and make informed investment decisions.

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2015 SelectUSA Investment Summit Off to a Roaring Start

March 24, 2015

This post originally appeared on the Department of Commerce blog.

Guest blog post by Vinai Thummalapally, Executive Director of SelectUSA

U.S. Secretary of Commerce Penny Pritzker greets President Barack Obama at the 2015 SelectUSA Investment Summit.

U.S. Secretary of Commerce Penny Pritzker greets President Barack Obama at the 2015 SelectUSA Investment Summit.

With more than 2,600 people from more than 70 markets, and economic development organizations from all corners of the United States, the 2015 SelectUSA Investment Summit has record attendance. In fact, it is more than twice as large as the inaugural 2013 event and reflects growing global interest in the United States as a place to launch and expand operations, invest in research and development, and create jobs.

Day One of the 2015 SelectUSA Investment Summit just concluded and what an exciting day it was. We were honored to have President Obama speak and announce some new initiatives to make investing and expanding within the United States even easier.

He announced that the U.S. Citizenship and Immigration Services will increase clarity around the adjudication of the L-1B non-immigrant visa that allows international companies to temporarily deploy workers with specialized knowledge to the United States when launching or conducting operations here. This long-anticipated policy guidance is of particular interest to global companies participating in today’s SelectUSA Investment Summit.

Commerce Secretary Penny Pritzker will establish the first-ever federal advisory committee to solicit formal input on the development and implementation of strategies and programs to attract and retain foreign direct investment in the United States.

Finally, SelectUSA will continue to improve investment tools, enhance trainings for investors, and expand partnerships with state economic development organizations. A new partnership platform will improve state-federal coordination, inform SelectUSA services and programs, and promote high standards in investment-promotion activities across the country.

Secretary Pritzker opened the conference laying out all the reasons why the United States is the number one place to invest. She highlighted that companies choose to invest here because of our rising job market; the strong rule of law and intellectual property protections; our world-class universities and our global leadership in R&D; our stable financial markets and our vibrant supply chains; and our abundant and affordable energy supply. I heard businesses today share that they invested in the United States because of our low tariff rates and the low barriers to entry to our communities. Investors also choose the United States because of the talent and ingenuity of our people.

We also heard from Jeff Zients, Director of the National Economic Council, and a phenomenal panel of executives, discussing the resurging U.S. economy. It is clear that this is the right time to invest in the United States.

We also heard about the world-leading opportunities for innovation. We learned more about why international companies spend 48 billion dollars a year on U.S. research and development.

Breakout sessions featured impressive speakers like Kentucky Governor Steve Beshear, Mike McNamara of Flextronics, and many others, discussed supply chains and advanced manufacturing; tax policy; success for small businesses; resources for start-ups; opportunities to innovate together with American universities; and the new energy economy. Secretary Tom Vilsack and Governor Susana Martinez spoke about the incredible opportunity in investing in rural America.

The topics we covered today are exceptionally diverse, and there’s a reason for that. The United States, with its 50 states and territories, is full of diversity. It’s one of our greatest strengths.

Regardless of your size or home country, you can find the market, the people, and the place that you need to be successful here in the United States. SelectUSA is ready to be your partner as you search.

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Innovation and Software are the Reasons to Select the USA

March 23, 2015

This post originally appeared on the Department of Commerce blog.

Guest blog post by Eric A. Spiegel, President and CEO, Siemens USA

Eric A. Spiegel, President and CEO, Siemens, USA

Eric A. Spiegel, President and CEO, Siemens, USA

Today, as part of the Select USA Investment Summit, I had the honor of joining an impressive group of business leaders, international investors and experts for an in-depth conversation about how innovation and R&D is helping to fuel private sector investment, and why the United States is poised for tremendous growth.

I’d like to applaud U.S. Commerce Secretary Penny Pritzker for bringing together more than 2,500 participants representing 60 countries, drawing international attention to the U.S. as a premier country to invest in at such an optimal time.  International companies representing countries from around the globe, such as Germany, contribute largely to Federal Direct Investment (FDI) and find the U.S. an attractive place to invest.  And Siemens does too.

To give you a little bit of background, Siemens is one of the world’s oldest and biggest companies.  Having been in the U.S. for over 150 years, we currently employ nearly 50,000 people throughout all 50 states and Puerto Rico.  We have more than 70 manufacturing sites in the U.S. and invest more than $1 billion annually in R&D here.

The U.S. has become an innovation engine for Siemens.  It is not only our largest market, but is also an extremely vital production location, one of our most important research centers and a key base from which we export to the rest of the world.  Siemens has invested over $35 billion in America over the past decade, including over $10 billion in the past year alone.

So why invest in the U.S.?  As a global company, when we are looking for a new location to invest or to manufacture, we consider many factors and there are several which are unique to the U.S. market, giving it a leg up on the competition.

  • Strong ecosystem for innovation and R&D
  • World-class colleges and universities
  • Leadership in software and the digital economy

It’s clear that the primary trait that sets the U.S. apart as a unique and unrivaled place to invest is an undeniable spirit of innovation. The U.S. has an environment of innovation, collaboration and talent that is unmatched anywhere in the world.

Siemens is tapping into this innovation in many ways, including through our venture capital arm that has invested in more than 170 companies and 40 VC funds across industries—all with an eye towards seeding innovation that can transform manufacturing and industry.

The type of manufacturing where the U.S. is truly advantaged is advanced manufacturing.  This type of manufacturing plays to unique U.S. strengths – namely, innovation.

Nobody has better colleges and universities, national labs and access to leading innovators, and being in America enables manufacturers to be close to leading markets, with well-trained workers, leading R&D, a strong but aging infrastructure and government policies that encourage investment.  In addition, the U.S. now has access to some of the lowest cost energy and electricity in the world.  All of this makes it possible to build high-end products in America as cost-competitively as anywhere else.

And that’s not even mentioning America’s biggest advantage, which is software.  Software is taking over bigger and bigger chunks of the economy.  After all, the world’s largest bookseller today – Amazon – is a software company.  The world’s largest video service by number of subscribers – Netflix – is a software company. The world’s largest music companies – from Apple to Pandora to Spotify – are software companies.

Just think of all the things we used to do in person that we now do online. Banking. Shopping. Studying. Movies. Books. Television. Travel. The list goes on.

Software is the heart of the digital economy.  What we are living through right now is a software revolution that is collapsing the boundaries between the real and online worlds – turning the global economy into a virtual economy.

This intersection of information and industry has the potential to add $10-15 trillion to global GDP over the next two decades while revolutionizing how we live.  And as the long-time leader in software development, the U.S. has a competitive advantage.  This increasingly digital world offers a tremendous opportunity and it’s clear that the U.S. will lead the way.

However, in order to capture this moment of opportunity and drive innovation even faster here in the U.S., we need to:

  • Continue to develop a skilled workforce for this increasingly digital economy
  • Revitalize our aging infrastructure
  • Reduce trade barriers through international agreements like Transatlantic Trade and Investment Partnership (TTIP)

Now is the time for the U.S. to seize this moment of incredible potential.

The real opportunity here isn’t just the next IPO, or the development of the next buzzworthy app.  The real opportunity is harnessing the intrinsic power of data to design, build and maintain the industrial technology that drives our daily lives.  To make real things.  Things that “think” and adapt to changing circumstances in real time; things that change how our cities are powered, how our industries manufacture, how our trains travel, how our surgeons operate; things that make our lives better in countless different ways.

As this data is analyzed and reveals trends and insights that have never been available to us before, it’s clear that there will be a profound impact on the economy.  You can call it a data revolution.  You can call it a digital revolution.  But here’s what it really is: asoftware revolution.  And with the U.S. generating 70 percent of software for industry, for Siemens – in this sector as in so many others – all roads lead to America.

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North Carolina Attracts FDI in Manufacturing and Textiles

March 13, 2015

This post contains external links. Please review our external linking policy.

Stefan M. Selig is the Under Secretary of Commerce for International Trade

Under Secretary Stefan Selig (seond from left) participates in a ribbon cutting ceremony with North Carolina Governor Pat McCrory (left) PEDS Legwear President and CEO Michael Penner and Walmart Vice President of U.S. Manufacturing Cindi Marsiglio.

Under Secretary Stefan Selig (seond from left) participates in a ribbon cutting ceremony with North Carolina Governor Pat McCrory (left) PEDS Legwear President and CEO Michael Penner and Walmart Vice President of U.S. Manufacturing Cindi Marsiglio.

On Wednesday afternoon, I delivered remarks in Hilderbran, North Carolina at a ribbon-cutting ceremony where we officially opened the new Canadian-based Peds® Legwear (PEDS) production facility. PEDS’ recent $16 million investment in the plant and new machinery has allowed the company to hire North Carolina factory workers who were previously laid off. By 2018, this new facility will bring more than 200 jobs to Hildebran, providing a lift to the local economy.

SelectUSA, our program to attract foreign direct investment (FDI), along with our Commercial Service Canada team, helped facilitate this deal. SelectUSA provided counseling to PEDS on how to navigate the federal regulatory process and also helped identify sources of federal funding. In addition to PEDS’ investment in the Hildebran facility, the company plans an additional $8 million venture, bringing their total investment in the United States to $24 million. In less than two weeks, similar FDI deals will be highlighted at this year’s SelectUSA Investment Summit, which will take place March 23-24.

In addition to ITA’s support, PEDS’ new investment is made possible because of a multi-year purchase order contract from Wal-Mart as part of the retailer’s commitment to buy domestically produced goods.

As I noted in my remarks—before an audience that included Michael Penner, president and CEO of Peds® Legwear; Cindi Marsiglio, Wal-Mart’s vice president of U.S. manufacturing; and North Carolina Governor Pat McCrory—PEDS’ investment in the facility shows our nation’s prowess to attract FDI.

Because the United States offers a transparent, fair, and stable business climate, as well as our second-to-none workforce, many global companies like PEDS are beginning to establish or expand operations here. In fact, in 2013, U.S. FDI inflows totaled $231 billion, of which $51 million was invested in U.S. textile and apparel manufacturing. In 2012, majority-owned U.S. affiliates of foreign firms accounted for $48 billion in R&D expenditures, exported $334 billion worth of U.S. goods exports, and employed nearly 6 million workers.

To keep the momentum, ITA will continue to develop opportunities for U.S. workers and businesses by promoting international trade, encouraging FDI, and working to foster a level playing field for American products and services.

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What is the SelectUSA Academy?

February 26, 2015

This post contains external links. Please review our external linking policy.

By Genilson Brandao, Outreach and Communications Senior Specialist, SelectUSA

SelectUSA Summit Academy: March 22, 2015, 2:00pm-6:30pmThe 2015 SelectUSA Investment Summit is fast approaching and the excitement around it continues to build. To date, there are more than 2,100 registrants from almost 80 international markets and nearly every U.S. state. The Summit will bring together high-profile business leaders, investors, state and local representatives, and government officials to network and discuss the latest investment trends.

New this year is an important addition for participants who are looking to make the most of their Summit experience: The SelectUSA Academy.

The Academy is an intensive, practical pre-Summit orientation that will give companies, state and local governments, and economic developments organizations (EDOs) the basics on investing in the U.S. market and strategies to attract investment to their locations.

The sessions will offer indispensable analytical tools and information to help participants navigate regulations and investment incentives, investor visas, current foreign direct investment (FDI) and reshoring trends, and more—see the Academy agenda for more details on the sessions and speakers.

You can participate in the Academy in two different tracks:

  1. The Investor Track is designed for potential investors and companies of all sizes who want to learn the basics of investing in the United States.
  2. The EDO Track is tailored to state/local governments and EDOs looking to develop specific strategies for attracting FDI and discuss the latest trends and resources in economic development.

Participants in the SelectUSA Academy will not only gain valuable, first-hand insight from experienced investors, economic developers, and government officials to boost their investment strategies, but they will also have a chance to meet and mingle the night before the Summit. Following the Academy sessions, there will be a special networking reception on Sunday evening for all Academy participants and speakers.

Want to jumpstart your 2015 SelectUSA Investment Summit experience? The Academy has already sparked great interest from international firms, exhibitors, and U.S. EDOs, but there’s still time to join us. To sign up for the Academy, first register for the 2015 SelectUSA Investment Summit at www.selectusasummit.com/registration and then select the “SelectUSA Academy” add-on option. If you are already attending the Summit and want to update your registration to include the Academy, please contact our Summit event planner at info@selectusasummit.com.

About the SelectUSA Summit: The 2015 SelectUSA Investment Summit will be held on March 23rd and 24th and the SelectUSA Academy will be held on March 22nd in the Washington, D.C. area at the Gaylord National Resort and Convention Center. More than 2,500 participants will find the practical tools, information and contacts they need to move investments forward. To learn more and register, visit www.selectusa.gov.

About SelectUSA: Housed within the U.S. Department of Commerce, SelectUSA promotes and facilitates business investment into the United States by coordinating related federal government agencies to serve as a single point of contact for investors. SelectUSA assists U.S. economic development organizations to compete globally for investment by providing information, a platform for international marketing, and high-level advocacy. SelectUSA also helps investors find the information they need to make decisions; connect to the right people at the local level; navigate the U.S. federal regulatory system; and find solutions to issues related to the U.S. federal government.  More information at http://www.selectusa.gov.

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America’s Economic Resurgence: Invest in the U.S.A – The 2015 SelectUSA Summit Agenda

January 30, 2015

This post originally appeared on the Department of Commerce blog.

There has never been a better time to invest in the United States. With a resurgent economy and a strong economic foundation to support growth for years to come, it is no wonder the United States is the world’s top destination for businesses looking to expand.

SelectUSA Investment Summit - Washington, DC, March 23-24, 2015Building on this, President Obama is hosting the second SelectUSA Investment Summit, which is right around the corner.  On March 23-24, more than 2,500 people from around the world and every corner of the United States will gather in Washington to explore opportunities to grow their businesses.  This is a “don’t miss” event, and we are excited to unveil the Summit agenda. We hope you will consider joining us.

More than 1,200 people from 70 international markets have already registered, and we anticipate that the event will be filled to capacity well in advance of the Summit.

Why is interest so strong?  The United States offers an unprecedented investment climate for foreign investors of all sizes, a skilled and productive workforce, an unmatched higher education system, strong intellectual property protections, a serious commitment to innovation, and an abundant and stable energy supply.

The U.S. domestic market remains the world’s most attractive for foreign investment. Real GDP grew at a 5.0 percent annual rate in the third quarter of 2014, and businesses have added 11.2 million jobs during a record 58 straight months of private-sector job growth. U.S.-based companies offer access to millions of global consumers through high quality Free Trade Agreements. More than ever, the U.S. market is driving global competitiveness.

How can investors learn more about this unparalleled opportunity? Attend the 2015 SelectUSA Investment Summitin Washington, D.C., March 23-24, of course.

The SelectUSA Investment Summit offers participants the practical tools, information, and connections they need to move investments forward. The trade show floor and online matchmaking will showcase diverse investment opportunities available throughout the United States.

Investors and economic developers will have the chance to learn about and discuss critical important investment topics through a variety of sessions featuring high-profile business leaders and government officials. Topics include:

  • Innovation, R&D, intellectual property, and university partnerships
  • Manufacturing, infrastructure, and agriculture investment in rural America
  • Infrastructure and public-private partnerships
  • Supply chains, including advanced manufacturing
  • Tax policy and implications for foreign investors
  • Project finance and incentives
  • Workforce development
  • The new energy economy
  • Startups and opportunities for small and medium-sized businesses
  • Foreign Trade Zones
  • Capital markets and economic growth
  • The U.S. immigration system

Additionally, first-time investors and economic development organizations can learn the basics of investing in the United States at the SelectUSA Academy. This pre-conference session will be held on Sunday, March 22, and attendees can register through the Summit website.

At the first SelectUSA Investment Summit in 2013, President Barack Obama sent a strong message to investors in the room and around the world: “We want to be your partner in helping to write the next chapter in our history.  We want you to join the generations of immigrants and entrepreneurs and foreign investors who have discovered exactly what it means when we say we are the land of opportunity.”

About SelectUSA:  Learn more about the Summit agenda and register at www.selectusasummit.com, and explore how SelectUSA can help you at www.selectusa.gov. SelectUSA is the U.S. government-wide program created to facilitate business investment in the United States. It helps investors find the information they need to make their investment decisions, navigate the federal regulatory system, and connect them to the right people at the local level.

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2015 Will Be the Biggest Year Yet for International Opportunities for Regional Economic Development

January 22, 2015

This post originally appeared on the Department of Commerce blog.

This post contains external links. Please review our external linking policy.

Guest blog post by JoAnn Crary, CEcD, President of Saginaw Future, Inc. and 2015 Chair of the Board of Directors of the International Economic Development Council

2015 is off to a great start for International Economic Development Council (IEDC) and I am excited and honored to spend the next 12 months as the Chair of our Board of Directors. In this capacity, I will be traveling the globe and conferring with my fellow economic developers on many of the pressing issues and opportunities our profession is facing. One event I am particularly looking forward to attending is the 2nd SelectUSA Investment Summit. Having attended the first Investment Summit in 2013, I can personally attest to the value of coming to Washington to meet with colleagues from across the U.S., hundreds of international investors – I’m told this year’s summit will feature twice as many investors – and hear from a robust speaking program featuring top administration leaders in foreign direct investment attraction.

Foreign direct investment has proven to be a vital tool in the economic developer’s toolbox in the years following the Great Recession. In my own community, Saginaw, Michigan, it has contributed to the creation or retention of thousands of jobs over the past five years. One company, Nexteer, has invested hundreds of millions of dollars in expanding their operations in Saginaw, which has resulted in thousands of jobs being created or retained. As an economic developer, I cannot overstate the importance of the resources that SelectUSA has provided my organization and countless others within my profession. Simply put: SelectUSA brings clarity, focus and action to the role of the federal government in supporting FDI attraction at the local, regional and state level. They are an essential partner in the work of economic developers to create jobs and improve the quality of life in our communities. They are also a valued partner of IEDC in Washington and have played a key role in raising the profile of our profession over the past few years.

Over the course of this year, IEDC will embark on the important work of creating training resources related to FDI attraction and export promotion. This work has been made possible through the generosity of the JPMorgan Chase Foundation and will include training manuals and training courses on best practices and emerging trends in FDI attraction and export promotion. We will also be launching an effort to support reshoring activities, a project made possible by the Economic Development Administration with support from SelectUSA and other Department of Commerce resources, such as the Assessing Costs Everywhere (ACE) program. ACE is a useful tool for helping companies asses the real costs of doing business here at home versus overseas. No doubt we will have many opportunities to bring attention to the NEI/NEXT initiative, which is the second phase of the administration’s high-priority export promotion program that is already helping U.S. businesses expand the market reach of products and services made in the USA.

2015 will be a busy year for IEDC and the most productive year yet for programs and initiatives supporting attracting foreign investment, luring back previously U.S.-based business operations, and expanding opportunities for U.S. exporters. As we celebrate the end of 2015 next December, I am certain IEDC, our members, and our many partners within the Department of Commerce will be able to reflect on a long-list of accomplishments we can be proud of. I hope to see you at the SelectUSA Investment Summit in March, as well as at one of our exciting upcoming conferences.

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