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Modernizing America’s Infrastructure with Foreign Direct Investment

June 15, 2018

This post contains external links. Please review our external linking policyThis post originally appeared on the Department of Commerce blog.

Guest blog post by Brian Lenihan,  Acting Executive Director of SelectUSA

From expansive freeways and bridges to thriving seaports and airports, infrastructure is the backbone of the U.S. economy, fueling U.S. competitiveness by creating efficient supply chains, reliable energy information, as well as modern and secure transportation systems.

However, years of underinvestment in infrastructure have partially handicapped U.S. growth potential. As the United States now turns toward reinvesting in its infrastructure, there are countless business opportunities for domestic as well as international firms.

Photo of roadways in the United States.

The SelectUSA Investment Summit’s focus on infrastructure this year is demonstrative of the Trump Administration’s commitment to restoring the infrastructure of this country to its full potential, creating economic growth and American jobs in the process.

On Friday, June 22, April Palmerlee, CEO of the American Chamber of Commerce in Australia, will lead a panel on rebuilding and modernizing America’s infrastructure at the 2018 SelectUSA Investment Summit. The panel will highlight President Trump’s “Building a Stronger America” initiative with a focus on regulatory reduction in the permitting process and creative financing, both key to addressing these needs through public-private partnerships as a source of funding at the state and federal levels.

The U.S. Department of Transportation’s Build America Bureau will also lead a session during the Investment Summit Academy on Wednesday, June 20. Roger Bohnert, Director of the Office of Outreach and Development, will explain how local and state-level economic development organizations can find support for infrastructure projects through the Department of Transportation.

The SelectUSA Investment Summit’s focus on infrastructure this year is demonstrative of the Trump Administration’s commitment to restoring the infrastructure of this country to its full potential, creating economic growth and American jobs in the process.

The 2018 SelectUSA Investment Summit (June 20-22) is the highest-level foreign direct investment event in the United States. U.S. economic development organizations and international business investors will converge in Washington, D.C., to hear from industry experts and high-ranking government officials providing insight into several key areas of U.S. strength: workforce development, the burgeoning commercial space industry, and advanced manufacturing.

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Medical Device Regulations are Changing in Canada and the EU, Prepare Now to Maintain Market Access

June 11, 2018

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

Susan Crawford is the communications specialist for the U.S. Commercial Service’s Global Healthcare Team. The U.S. Commercial Service is the trade promotion arm of the U.S. Department of Commerce’s International Trade Administration.

Webinar: Preparing for the MDSAP

Date:  June, 28, 2018
Time: 
2:00 – 3:00 p.m. EDT
Registration:
https://go.usa.gov/xQVSh
More Information:
Connie.Irrera@trade.gov

Healthcare regulations are changing in major medical device export markets including Canada and the European Union (EU), and the U.S. Commercial Service (CS) Global Healthcare team is helping to inform U.S. companies about these changes and ensure that exporters have the resources they need to access these important markets.

Canada is launching a new Medical Device Single Audit Program (MDSAP) and all medical devices in Canada must be deemed safe and effective, including software accompanying any medical device. As of January 1, 2019, only MDSAP certificates will be accepted. Therefore, exporters will need to register under the new program to maintain the ability to sell medical devices in Canada in 2019.

The MDSAP Consortium includes Australia, Brazil, Canada, Japan, and the United States; however, Canada’s Medical Devices Regulations (SOR/98-282) are unique from other regions covered by the MDSAP Consortium in that it is currently the only one that will use MDSAP certificates to make determinations on Class II, III, and IV devices licenses. As Health Canada notes, “All manufacturers must transition from CMDCAS to MDSAP certificates to meet the quality management system requirements of the Medical Devices Regulations.”

To assist exporters with understanding the new regulation, the Global Healthcare Team is holding a webinar about MDSAP registration and requirements on June 28, 2018, featuring Frédéric Hamelin, Manager of the Quality Systems Section of the Medical Devices Bureau at Health Canada. To register for the webinar, please click here: https://go.usa.gov/xQVSh. For more information, contact Canada-based CS Commercial Specialist Connie Irrera at Connie.Irrera@trade.gov.

Medical regulations have already changed in the EU regarding the treatment of healthcare IT applications, post-market surveillance and liabilities borne by manufacturers. The new Regulation 2017-745 took effect in May 2017, and is the master regulation with which all imported medical devices will need to comply. The new rules will apply after a transitional period which will be three years after entry into force for the Regulation on medical devices (spring 2020), and five years after entry into force (spring 2022) for the Regulation on in vitro diagnostic medical devices, according to the EU Commission.

CS Global Healthcare Team Acting Director Taylor Little (CS New Hampshire) and team members David Edmiston (CS Minneapolis, MN) and Melissa Grosso (CS Middletown, CT) are educating U.S. firms and colleagues about these upcoming regulatory changes and the potential impact on U.S. medical device exports. The three international trade specialists recently completed the Regulatory Affairs Certificate Program in Medical Devices from the Regulatory Affairs Professional Society (RAPS), the largest global organization for those involved with the regulation of healthcare and related products.

“We want to prevent a situation in which a small company loses access to an export market because they were not aware of impending regulatory changes,” Little said.

For more information about the CS Global Healthcare Team, visit our website and click here to find a healthcare trade specialist near you.

 

Resources for Exporters

The U.S. Commercial Service Global Healthcare Team offers a variety of resources to educate exporters about market opportunities and trends for healthcare-related products and services.

Global Healthcare Team Website: https://2016.export.gov/industry/health/

Health Technologies Resource Guide: https://2016.export.gov/industry/health/healthcareresourceguide/eg_main_083726.asp 

Top Markets Series Reports

Additional Resources

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SelectUSA’s $30 Billion Impact on the U.S. Economy

June 7, 2018

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

This post originally appeared on the Department of Commerce blog.

Guest blog post by Steven Meyers, Director of Outreach and Communications, SelectUSA 

SelectUSA graphic announcing more than $30 billion of greenfield investment into the United States since its inception.

This month, the SelectUSA team hit a major milestone, having now facilitated more than $30 billion in client-verified business investment projects.

Foreign direct investment (FDI) in the United States is a key contributor to U.S. economic growth, directly and indirectly supporting nearly 13 million American jobs. It contributes to U.S. exports, drives innovation, and – most importantly – sends hardworking Americans home with a paycheck.

Since 2007, the SelectUSA program has worked with thousands of clients – business investors, economic development organizations (EDOs), and other leaders – to support job-creating FDI in the United States. Just this month, the SelectUSA team hit a major milestone, having now facilitated more than $30 billion in client-verified business investment projects.

This is the culmination of years of working with clients, hosting global business events, and working closely with American EDOs.

This past year was especially strong, as the SelectUSA team:

  • Held the largest-ever SelectUSA Investment Summit, with more than 1,200 potential business investors and economic development representatives from 52 states and territories.
  • Brought 10 European medical technology startups to Pittsburgh, Cleveland, and Austin as part of its first inbound investment mission.
  • Hosted investment road shows in India and China that facilitated more than 300 meetings between EDOs and potential business investors.
  • Released its first-ever research reports, analyzing the positive effects of FDI on manufacturing and high-tech industries.
  • Led 20+ EDO delegations to some of the largest trade shows in the world, including Hannover Messe in Germany and BIO Korea.

We were also happy to share many FDI success stories on the International Trade Administration blog. Swiss additive manufacturing company Oerlikon decided to invest $62 million in Huntersville, North Carolina, after attending the 2016 SelectUSA Investment Summit. A.T. Kearney ranked the United States as the world’s top destination for business investment for the 5th year in a row. And Mahindra recently shared its reasons for investing in the United States, creating jobs in Michigan.

Our team at SelectUSA and our partners in the economic development community make this all possible. I thank them for their dedication and hard work.

You may not have heard of SelectUSA, and you may not regularly think about the impact of FDI, but millions of U.S. workers rely on FDI for their livelihood. We are proud to support that, and we look forward to working with more clients and helping to create U.S. jobs.

Learn more about the upcoming 2018 SelectUSA Investment Summit, June 20-22, in Washington, D.C. at selectusasummit.us. Visit selectusa.gov for more information about our services, events, and more. You can also follow us on Twitter @SelectUSA.

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The SelectUSA Investment Summit: Advancing and Expanding American Prosperity

June 4, 2018

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 Brian Lenihan,  Acting Executive Director of SelectUSA

Photo of manufacturing plant to promote SUSA Investment Summit June 20-22 2018.

Advanced manufacturing, workforce development, the burgeoning commercial space industry and many other topics will be covered at the 2018 SelectUSA Investment Summit (June 20–22).

The upcoming 2018 SelectUSA Investment Summit (June 20-22) will feature several plenaries, panels, and breakout sessions of experts, each focused on a vital U.S. industry or subject affecting foreign direct investment (FDI) in the United States. Advanced manufacturing, workforce development, the burgeoning commercial space industry and many other topics will be covered. The one thread uniting them all: advancing and expanding American prosperity.

One industry which plays an outsized role in this effort is advanced manufacturing. In fact, most FDI coming into the United States flows to this rapidly changing industry. On Thursday, June 21, Dr. Walter Copan, Under Secretary of Commerce for Standards and Technology and the Director of the National Institute of Standards and Technology, will lead a panel on advanced manufacturing. Joined by academic and industry leaders, Under Secretary Copan will explore how innovative technologies like robotics, cloud computing, and 3-D printing are reshaping one of America’s bedrock industries.

Advanced manufacturing has the potential to transform the country and keep the United States competitive on the global stage. The industry is already one of the most competitive and advanced in the world, according to a report released by Deloitte in 2016. In fact, America is projected to have the most competitive manufacturing industry by 2020. But we will not reach that point unless we continue the modernization process.

The promises of advanced manufacturing will allow businesses to offer more options through order customization. It will be easier and more efficient to change production quantities, which can many times hamper initial production order agreements. Perhaps one of the greatest improvements will be the speed with which a product can make it to the market. From 3-D printed cars to factory-floor machines that are constantly connected to the internet, advanced manufacturing is already revitalizing the economy, bringing jobs back home, and attracting the world’s top talent.

The SelectUSA Investment Summit, the highest-level FDI event in the United States, helps connect U.S. economic developers and service providers with international business investors. Join SelectUSA, June 20-22, at the Gaylord National Resort and Convention Center in the Washington, D.C., metro area to learn how investing in the United States will lead to success.

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Thanks to Innovation and Investment, the U.S. Aerospace Industry is Boldly Going to New Frontiers

June 1, 2018

This post originally appeared on the Department of Commerce blog.

Guest blog post by Brian Lenihan , Acting Executive Director of SelectUSA

Photo of satellite from space.

Photo of satellite from space.

On February 20, Vice President Mike Pence led the second meeting of the National Space Council at the Kennedy Space Center in Florida. Vice President Pence reiterated the Trump Administration’s dedication to making the United States the global leader in the burgeoning commercial space industry.

“It’s here today, in the 21st century, that the modern marvels that launch from these grounds will prove that the public and private sectors are achieving far more today than we ever have before,” Vice President Pence told the Council.

The Trump Administration is focused on maintaining U.S. leadership in space exploration and technology through public-private partnerships between the Federal government and international companies. By reviving the National Space Council in July, signing Space Policy Directive 1 in December, signing Space Policy Directive 2 in May, and authorizing an increase in NASA’s budget, President Trump is positioning the United States for a return to the Moon and a venture to Mars and beyond.

“As the President said, space is the ‘next great American frontier’ – and it is our duty – and our destiny – to settle that frontier with American leadership, courage, and values,” Vice President Pence said at the inaugural meeting of the National Space Council in October.

Settling that frontier will take human ingenuity and innovative technologies, both of which the United States has in abundance. The world’s top companies are drawn to the innovation culture of the United States. By encouraging entrepreneurship and risk taking, this culture offers an added competitive edge to the business community and leads to technological breakthroughs.

Simply put, the U.S. aerospace industry is a global powerhouse. International firms are drawn to its skilled and educated workforce and extensive distribution systems. World-changing technology is made in the USA, including technologies that rove the surface of Mars and make it possible to study galaxies millions of lightyears away. In 2016 alone, the industry contributed $147 billion in export sales to the U.S. economy, which led to a positive trade balance of $90.5 billion — the largest of any manufacturing industry.

Through the President’s Space Policy Directive 2, the Department of Commerce recently announced its intent to create a new Space Policy Advancing Commercial Enterprise (SPACE) Administration, which  will create a new “one stop shop” within the Department for promoting, administering, and regulating commercial space activities.   The SPACE Administration, to be housed within the Office of the Secretary, will  advance pro-growth policies affecting commercial space activities. This flourishing industry will also be a focus of the 2018 SelectUSA Investment Summit (June 20-22), the top foreign direct investment event in the United States. Secretary of Commerce Wilbur Ross will lead a panel of industry experts to discuss the latest updates in a rapidly changing field and how domestic and foreign companies can utilize U.S. resources to join a new commercial space race.

This June, global companies—from aerospace to agriculture—will join high-level government officials, business executives, thought leaders, and economic developers from across the United States for the Investment Summit in Washington, D.C. To learn more about how you can attend the top foreign direct investment event in the country, please visit selectusasummit.us. Additionally, please visit selectusa.gov for more information on how—and why—to invest in the United States.

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Asian American & Pacific Islander Heritage Month Spotlight: Xiaobing Feng

May 31, 2018

Xiaobing Feng is the President of the Asian American & Pacific Islander (AAPI) Employee Resource Group for the Department of Commerce and her story is featured in honor of the AAPI Heritage Month. 

Photo of Xiaobring Feng at a site visit to a United States-Taiwan joint venture facility, Pratt & Whitney, in 2015.

Xiaobing Feng at a site visit to a United States-Taiwan joint venture facitlity, Pratt & Whitney, in 2015.

As the Regional Manager for Asia and Pacific in the International Trade Administration’s (ITA) Advocacy Center, I advise and counsel U.S. businesses on developing advocacy strategies to successfully compete for billions of dollars in public procurement projects overseas. In helping “level the playing field” for companies, I work with senior Commerce Department officials, colleagues at the Trade Promotion Coordinating Committee agencies, and officers posted at U.S. embassies and consulates abroad. I also collaborate closely with foreign embassies in Washington, executives of U.S. companies, and foreign decision-makers on behalf of American business interests abroad.

I would like to share my unique background as an Asian American professional. I grew up in Harbin, China, the capital of Heilongjiang, China’s northernmost province. The city is known for its extremely cold winters and internationally famous for its annual International Ice and Snow Sculpture Festival.

When I was fourteen, I was honored as “Worker of the Year” at the Harbin Car Horn Factory. The Cultural Revolution was in full swing throughout my childhood. Instead of having the opportunity to study in the classroom with the chance to take an entrance exam for college, I was sent to the horn factory to experience the virtues of manual labor. This, I came to understand, was to atone for being the child of successful party cadres and the great granddaughter of a well-known educator in the former Manchurian aristocracy. Nonetheless, I continued to prepare for the entrance exams on my own, and when the revolution was over two years later, I was ready to pursue my lifelong dream: a college education.

Apart from delaying my life for two years, the experience in Harbin instilled within me a passion to understand the fundamental factors that affect a society: economics. This desire led me to work as a research specialist at the Heilongjiang Academy of Social Sciences. Unexpectedly, the Academy soon sent me to the Chinese Party School for intensive leadership training. I eventually came to the United States as a visiting scholar to undertake graduate studies in Sociology at the University of Houston. My hope was to graduate then return home to start the first Sociology Institute in China. My plans changed, however, when I fell in love and married a college classmate in Houston, Texas, where I became a U.S. citizen and started a new life.

After working for private firms in the United States and abroad, I started an export consulting firm helping U.S. manufactures bid for public tenders in China. These experiences led to a passion and belief that a greater understanding of trade could help address worldwide problems, many of which are still ongoing today. Trade policy is no longer confined to tariffs and quotas, but is inextricably tied to a nation’s social and economic policies, as well as its overall development strategy. With these ideas in mind, I joined ITA in 2001. This November, I will celebrate 17 years working at the Advocacy Center. It’s also a time for personal reflection. I am proud to have contributed to our Commerce mission by helping companies close more than 150 deals, supporting more than a half million U.S. jobs.

Growing up, my mom was the most inspiring person in my life. At age of 17, she ran away from her arranged marriage and joined the Revolution. While only receiving three years of elementary-level education, my mom never stopped learning. She became the CEO and President of Songjiang Textile Cooperation, and turned the struggling facility into a profitable operation. Following her footsteps, I feel honored to serve, knowing what I do every day can make a difference in the quality of many people’s lives here in the United States and abroad.

My advice for young Asian professionals is to follow your passion, never stop learning, and serve others.

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World Trade Month Spotlight: Commerce Department Supports U.S. Small Business Exports!

May 31, 2018

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

Yuki Fujiyama is a trade finance specialist in the Office of Finance and Insurance Industries and the author of the Trade Finance Guide: A Quick Reference for U.S. Exporters.  Tricia Van Orden is the Deputy Director of the Trade Promotion Coordinating Committee Secretariat.

May is World Trade Month!  It is a fitting opportunity for the U.S. Department of Commerce to reiterate its commitment to helping U.S. companies enter and become successful in global markets.  It is also an opportunity to highlight how the Department supports U.S. exports, especially for small businesses.

Photo of U.S. Commerce Secretary Wilbur Ross delivering keynote remarks at the 2018 EXIM Bank Annual Conference.

U.S. Commerce Secretary Wilbur Ross delivers keynote remarks at the 2018 EXIM Bank Annual Conference.

U.S. Secretary of Commerce Wilbur Ross welcomed nearly 1,000 participants from around the world by delivering the keynote address at the U.S. Export-Import Bank Annual Conference in Washington D.C.  Many participants were small U.S. businesses seeking information on how to succeed in global markets. During his remarks, Secretary Ross emphasized the importance of helping American small businesses navigate international trade and finance to grow their global footprint.

Photo of U.S. Commerce Deputy Assistant Secretary for Services James Sullivan (Center, 2nd Row) joining the Commerce Department exhibitor team at the 2018 EXIM Bank Annual Conference in Washington, D.C.

U.S. Commerce Deputy Assistant Secretary for Services James Sullivan (Center, 2nd Row) joins the Commerce Department exhibitor team at the 2018 EXIM Bank Annual Conference in Washington, D.C.

To echo the sentiment expressed in the Secretary’s keynote address, five Department of Commerce agencies sponsored an exhibit booth and provided export assistance information and counseling to more than 150 conference participants, including small- and medium-sized enterprises (SMEs). Agency representatives from the International Trade Administration, U.S. Census Bureau, Bureau of Industry and Security, Minority Business Development Agency and the National Institute of Standard and Technology met with attendees on strategy and planning, financing, business expansion, advocacy, dispute resolution, how to obtain trade statistics using the Harmonized System, as well as export license requirements.

Read below for more information about each of the agencies that attended the conference:

International Trade Administration (ITA)

ITA is the U.S. government’s lead export promotion agency.  Organized into three business units: 1) Global Markets; 2) Industry and Analysis; and 3) Enforcement and Compliance, ITA plays an important role in helping U.S. businesses, especially SMEs, enter and compete in global markets through export counseling and customized solutions, from how to get products through customs to commercial diplomacy, such as breaking down trade barriers.

U.S. Census Bureau

Census is one of the leading sources of quality data about the nation’s people and economy and is the official source for U.S. export and import trade statistics.  In addition, Census provides valuable resources and training on utilizing trade data, understanding the Foreign Trade Regulations and using the Automated Commercial Environment.

Bureau of Industry and Security (BIS)

BIS administers and enforces the Export Administration Regulations, including issuing licenses for the export, reexport, and transfer (in-country) of commercial, military, and dual-use items, as well as for certain activities of U.S. persons.  The BIS Office of Exporter Services is the first line of contact for U.S. exporters and other trade professionals seeking information and assistance regarding export license requirements for the items and activities mentioned.

Minority Business Development Agency (MBDA)

MBDA is the only federal agency dedicated to promoting the growth of and global competitiveness of minority-owned business enterprises (MBEs), the many of which are SMEs.  To help expand access to global market for American MBEs, MBDA recently established four new export centers in Chicago, Miami, Sacramento, and San Antonio.

National Institute of Standard and Technology (NIST)

NIST is a non-regulatory federal agency charged with promoting innovation and industrial competitiveness by advancing measurement science, standards, and technology.  In 2006, the NIST Manufacturing Extension Partnership and ITA jointly launched ExporTech, a unique national program designed to help U.S. small manufacturers enter or expand in global markets.  Since 2006, ExportTech has helped over 1,000 manufactures in 34 states and Puerto Rico.

Together, these agencies play a critical role in supporting and promoting U.S. small business exports through a diverse array of programs. Those who received information or counseling from Department of Commerce representatives at the recent EXIM Bank Annual are ready to take the next step in advancing their business ventures in global markets!

Visit us on the web to learn more about how to enter, grow, and succeed in global markets.