The President’s participation underscores our Administration’s deep commitment to bringing new job-creating investment to the United States. An estimated 12 million American jobs are attributable to foreign direct investment (FDI), which also supports long-term economic growth by driving exports and sparking innovation. The U.S. affiliates of international companies were responsible for one fifth of all U.S. goods exports ($360 billion) and spent $53 billion on American research and development (R&D) in 2013 alone.
This year’s Summit theme is “The Innovation Advantage” because companies of all sizes can benefit from the environment for innovation in the United States. Noting the U.S. position as the world’s largest and most innovative economy, President Obama said at last year’s Summit, “[The United States] is home not only to more R&D investment than any other country but to nearly one third of all R&D investment in the world. Our commitment to the rule of law and strong intellectual property protections make America a dependable place to innovate and do business.”
The SelectUSA Investment Summit brings companies that are considering establishing or expanding operations together with economic developers from across the country to learn how the U.S. climate for innovation—as well as the other advantages offered by the United States—can support their global competitiveness. Speakers from both the public and private sectors will share insights and real-world examples highlighting successful investments and the diversity of resources across the United States. In addition to President Obama, business leaders representing companies such as Xerox, Indiegogo, ABB Group, L’Oréal, Rassini, IKEA, Wanxiang, TOTO, and others will discuss the advantages of investing in the United States. The Summit agenda is now available online.
We expect to welcome more than 2,000 participants to Washington from approximately 70 countries and every corner of the United States. The Summit Exhibition Hall will feature state and local economic development organizations, and participants can use a new online matchmaking system to coordinate business meetings and connect face to face with economic developers, service providers, and government officials from federal, state, and local levels.
Registration for the Summit is open. I encourage you – innovators, investors and economic development leaders – to apply to attend the top FDI event in the country. It promises to be another stellar event.
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 federal regulatory system; and find solutions to issues related to the federal government. Since its inception in 2011, SelectUSA has facilitated more than $19 billion in FDI, which is expected to create more than 14,000 jobs. For more information, visit www.selectusa.gov.