Archive for April, 2016

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“Survey Says…Foreign Market Research is Tops”

April 19, 2016

Morgan Barr is an International Economist in ITA’s Office of Trade Policy & Analysis.

What do companies need to increase their export sales? In a recent client survey, the International Trade Administration (ITA) confirmed that it is often assistance in gathering market or competitive intelligence. Most companies use in-depth industry research on foreign markets to identify which markets to target, and forecasting future business opportunities using data is especially valuable. However, many companies lack an organized approach to finding this research. The overarching finding on market intelligence can be summarized by an interviewee who expressed that, “Market research is key, however, we don’t have the ability to do it ourselves.”

ITA has a variety of resources to help companies conduct market research on potential export markets for their goods and services—providing everything from tariffs under Free Trade Agreements, detailed trade data, and country guides to industry-specific market research. Together, these resources can provide important market information for U.S. exporters looking for new markets and new opportunities. Learning more about market opportunities is also a critical step in preparing to exhibit at trade shows such as the upcoming Hannover Messe.

Data

Trade statistics to identify new markets can be found in ITA’s Trade Policy Information System, which has an easy search function that quickly provides major U.S. export and import markets by product in an easy-to-read graphical format. Also, Trade Stats Express displays the latest annual U.S. merchandise trade statistics at the national and state levels in maps, graphs, and tables tailored to the user’s needs.

The FTA Tariff Tool provides tariff information on specific products under various U.S. free trade agreements (FTAs). It shows the tariff applied on the date the FTA entered into force and how it is phased out or reduced over time under the agreement. It now contains data on the Trans-Pacific Partnership.

Top Markets and Industry Information

Top Markets Reports, written by experts from ITA’s Industry and Analysis team, are industry-specific reports, covering both goods and services industries. Each report ranks future export opportunities within a particular industry based on a sector-specific methodology and includes country case studies for identified top markets.

Just in time for Hannover Messe Trade Show, ITA released seven updated Top Markets Reports related to the themes of the show, in order to provide the latest assessment of export opportunities for U.S. companies.

Country Information

Country Commercial Guides are an excellent starting point for everything you need to know about exporting and doing business in more than 125 overseas markets. They are written by U.S. Embassy trade experts and provide critical information on everything from entry strategies for a particular market, to leading sectors for U.S. exports and investment, to customs procedures.

Market Intelligence Search

The above resources are just the beginning. In the near future, we plan to release new lines of market research reporting on www.export.gov that will replace the website’s Market Research Library. Companies will then be able to tap into hundreds of new industry-specific articles, global market insights, and other trade education materials previously unavailable. Other valuable tools, such as a New to Market Tool for identifying export prospects, are not far behind, as we move forward with initiatives to provide more digital services and information to our customers.

Where do you go from there? More than 60 percent of survey respondents sought ITA’s assistance for their overall marketing and planning needs, which also includes identifying and arranging appointments with foreign partners, distributors and buyers, as well as developing a strategy to begin or expand exporting. Along with our self-help market research resources, ITA’s U.S. Commercial Service has offices across the United States that can work together with you to develop an entire export strategy.

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Commerce Department’s U.S. Travel and Tourism Advisory Board Seeks Membership Applicants

April 18, 2016

Kelly Craighead is the Executive Director of the National Travel and Tourism Office.

Li Zhou is the Deputy Director of the Office of Advisory Committees & Industry Outreach and the Executive Secretariat for the Travel and Tourism Board.

The Department of Commerce is excited to announce that we are actively seeking candidates to serve on the U.S. Travel and Tourism Advisory Board (Board).  The Board, established in 2003, serves as the advisory body to the Secretary of Commerce on matters relating to the travel and tourism industry in the United States.  The Board provides recommendations to the Secretary of Commerce and agencies that are part of the Tourism Policy Council, including the Departments of State, Homeland Security, Transportation, Interior, and others to ensure that the United States remains the preeminent destination for international inbound travel and tourism.

During the upcoming 2016-2018 term of the Board, members will provide valuable recommendations on implementation of the National Travel and Tourism Strategy, as well as to help shape the next National Travel and Tourism Strategy following the 2017 conclusion of the current program of work.

Previous Boards have presented Secretaries of Commerce with important advice on a wide range of policies and issues facing the travel and tourism including ways to reach the National Travel and Tourism Strategy’s goal of attracting 100 million international visitors to the United States by the end of 2021, travel facilitation, visa policy, infrastructure, aviation security, research, energy policy, and economic sustainability.

Commerce is accepting applications for the new two-year term of the Board through May 6, 2016.  The Board will be comprised of up to thirty-two members appointed by the Secretary of Commerce.  Board members shall represent companies and organizations in the travel and tourism sector from a broad range of products and services, company sizes, and geographic locations and shall be drawn from large, medium, and small travel and tourism companies, private-sector organizations involved in the export of travel and tourism-related products and services, and other tourism-related entities.

To learn more about the U.S. Travel and Tourism Advisory Board, please visit www.trade.gov/TTAB. For full membership criteria and application details, please review the Federal Register notice announcing the opportunity to apply.  If you have questions or comments, please email OACIO@trade.gov.

 

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Hannover Messe Exhibitor Spotlight: AzTE

April 18, 2016

This post originally appeared on the Department of Commerce blog.

Ed. note: This post is part of a series highlighting the upcomingHannover Messe Trade Show April 25—29, 2016. This series will highlight U.S. exhibitors that will participate in the world’s leading trade fair for industrial technology.

Guest blog post by Annette Kleiser, Business Development Consultant for AzTE

This is your first time at Hannover Messe. What factors influenced your decision to participate this year?

With the United States being the Partner Country for 2016, there are lots of great events and opportunities for engagement. Arizona State University is focused on innovating and partnering for solutions to global challenges. The USA Research & Technology Pavilion will attract lots of attention and visibility.

Why is the Research and Technology pavilion a natural home for you?

AzTE

Annette Kleiser, Ph.D., Arizona State University

AzTE is the exclusive IP management and technology transfer organization for Arizona State University, which this year was named the “most innovative school” in the United States by the influential U.S. News & World Report college rankings. HM16 is the single biggest platform for showcasing industrial technology and we look forward to the opportunity to share some of our emerging technologies and startups on this grand stage.

What do you hope to accomplish at Hannover Messe?

Arizona State University’s interdisciplinary approach to research and entrepreneurship delivers truly novel solutions to persistent societal and market challenges. Hannover Messe 2016 is an important global showcase for this work and we’re very excited to be part of the USA Research & Technology Pavilion.

When and how did your organization enter the global marketplace? With what countries or markets are you currently engaged?

We have long recognized the tremendous opportunity in marketing ASU innovations to investors and companies outside our region. AzTE has built global venture connections that include Tecnológico de Monterrey (Mexico), Dublin City University (Ireland), Tsinghua University (China) and Industrial Technology Research Institute (ITRI)—Taiwan.

What impact has this had on your organization or region? What advice do you have for other American organizations looking at the global market?

To date, more than 80 companies have launched based on ASU innovations, attracting more than $500 million in funding from venture capital firms and other investors – $76 million just in fiscal year 2015. In the modern global economy, we have to look far beyond our own borders to find the best potential partner to commercialize our technologies.

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Hannover Messe Exhibitor Spotlight: American Exchanger Services

April 16, 2016

This post originally appeared on the Department of Commerce blog.

Ed. note: This post is part of a series highlighting the upcomingHannover Messe Trade Show April 25—29, 2016. This series will highlight U.S. exhibitors that will participate in the world’s leading trade fair for industrial technology.

Guest blog post by Tom Muldoon, President of American Exchanger Services

This is your first time at Hannover Messe. What factors influenced your decision to participate this year?

The Department of Commerce and the Export grant influenced our decision to participate this year.

Employees of American Exchange Services at Wisconsin Manufacturer of the Year 2016 Banquet

Employees of American Exchange Services at Wisconsin Manufacturer of the Year 2016 Banquet

Why is the Energy and Mobilitec pavilion a natural home for you?

The Energy and Mobilitec pavilion is perfect because uur primary focus is on large (and small) heat exchangers found in Power Plants such as Feedwater Heaters, Steam Condensers and Secondary Air Heaters. We also have specialized services for retuning and rebuilding this equipment including explosive plug welding. Our current advanced technology will save utilities fuel and emissions.

What do you hope to accomplish at Hannover Messe?

We hope to introduce our Advanced Heat Rate program to improve plant design. We will also be introducing our new Power Recovery Condenser System for fossil and nuclear units. Our product line of highly engineered feed water heaters and steam condensers will also be featured. Attracting possible representation in some countries and having discussions with EPC type companies will also be important. To a lesser extent, we would also show pictures of some of our high energy rate fabrication capabilities (Explosive welding and Forming).

When and how did your company begin exporting? What countries do you have experience exporting to?      

We have been exporting for over 12 years. We actually began as a company due to a licensing of explosive welding technology from a company in Newcastle upon Tyne, England. We have equipment in and have performed services in: Trinidad, Venezuela, Australia, Malaysia, Guatemala, El Salvador, Saudi Arabia, Canada and Bahamas.

What impact has exporting had on your company? What advice do you have for other American companies looking to start exporting?

Without exporting, we would have gone out of business. In 2008, it was a couple export projects which were the only real sales for the year and without them, we would not have been able to continue. With the current changing US power market in which larger fossil and nuclear units are under increasing pressure due to emission concerns, our business also came under high stress. This trend has had a dramatic impact on the sale of our product and services. We horizontally expanded to other equipment. By exporting, we can work on the global power generation industry which does not have the cost flexibility or subsidies that the US has for paying for generation.

In the global market new coal and fossil units are being built in a more rapid fashion. In the replacement market, some of the power plants in the emerging markets are getting to the point where failures are cost money and replacements are necessary. Our business has become almost half export.

For people looking to start exporting, I would just tell them to find similar customers to their domestic customers and contact them and then get on the plane. Just check the STEP program and travel sites for notes on getting around. Get the sales and rely on your local banking and commerce people for the transaction.

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Sustainable Practices Help Wente Family Estates Land New Distributor, Make Sales

April 15, 2016

Susan Crawford is a Communications Specialist for the International Trade Administration 

The U.S. Commercial Service (CS) Oakland, the consul general of Norway, the mayor of Livermore, California and others celebrated Wente Vineyard’s successful foray into the Norwegian wine market at a recent bi-lateral meeting held at Wente Family Estates. The Livermore, California-based vintner has shipped 3 wine-filled cargo containers to Norway since December 2015, and expects that number to triple by the end of 2016 with an approximate value of over $500,000.

Success doesn’t happen overnight, and this journey began last year when Rod Hirsch, director of CS Oakland, encouraged Wente Family Estates, a Certified California Sustainable Winegrower, to participate in the CS’ Discover Global Markets: Sustainable Solutions conference that was held in Silicon Valley in 2015.

“I knew that the vintner’s sustainable initiatives would be a major competitive advantage in the right market, such as Norway, which values sustainability and green growing practices. I wanted the firm to have the chance to investigate new potential markets,” Hirsch explained.

CS specialists from 20 international markets, including Norway, counseled conference attendees on market opportunities. A meeting between Hirsch, Norway-based CS Commercial Specialist Bjarke Frederiksen and Wente Vineyards coincided with a new listing opportunity with the Norwegian Liquor Government Monopoly.   Wente Vineyards Morning Fog Chardonnay from Livermore Valley was selected in a government procured tender; soon Wente Vineyards was on the path to a successful listing in the Norwegian market. “The concept of Sustainable Farming has been an instrumental selling feature of our wine in Norway” says Michael Parr, Vice President of International Sales for Wente Family Estates.

“The CS strives to connect the dots between U.S. exporters and appropriate international markets and it is very rewarding to know that we played a role in helping Wente Family Estates expand and market their brand in Norway,” Hirsch said.

In addition to assisting Wente Family Estates in Norway, the CS previously helped the winery crack the competitive Australian wine market. CS Oakland worked with CS Australia and the U.S. ambassador to organize promotional events at each of the three Australian consulates in Sydney, Melbourne and Perth.

Hirsch and the CS Oakland team can help Oakland area firms identify and enter new markets or expand exports to existing markets. For more information, please visit: http://www.export.gov/california/oakland/.

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Hannover Messe Exhibitor Spotlight: Pittsburgh Regional Alliance

April 15, 2016

This post originally appeared on the Department of Commerce blog.

Ed. note: This post is part of a series highlighting the upcoming Hannover Messe Trade Show April 25—29, 2016. This series will highlight U.S. exhibitors that will participate in the world’s leading trade fair for industrial technology.

Guest blog post by Suzi Pegg, Vice President at Pittsburgh Regional Alliance

This is your first time at Hannover Messe. What factors influenced your decision to participate this year?

The Pittsburgh region is an amalgam of brawn and brains: We’ve kept the best of our past – strong work ethic, an industrial heritage and resiliency – but have harnessed innovation, R&D and technology to accelerate our legacy industries, including manufacturing, to new dimensions.

Manufacturing Prowess + Energy + Tech + Innovation = Pittsburgh 4.0! The Pittsburgh region is proudly contributing to Industry 4.0, the newest Industrial Revolution.

Manufacturing Prowess + Energy + Tech + Innovation = Pittsburgh 4.0! The Pittsburgh region is proudly contributing to Industry 4.0, the newest Industrial Revolution.

The opportunities to promote this Pittsburgh story (and much more) to prospective companies and show off the Pittsburgh region as a perfect soft landing for business investment at Hanover Messe 2016 influenced our decision to participate. It’s the world’s most important trade fair for industrial technology. It maps so well to a number of sectors our region is famous for – such as manufacturing and information technology. And with the U.S. as the fair’s partner country, as well as us sharing a booth with the Commonwealth of Pennsylvania, Core PA and Select Philadelphia, we are represented across the map, providing us with strength in numbers to show the world that the U.S., Pennsylvania and the Pittsburgh region are open for business and are great places to live, work and invest.

Why is the Investment pavilion a natural home for you?

A main factor in our decision to participate in Hanover Messe 2016 was the opportunity to share a booth (Select USA Pavilion – Hall 3, Floor 6, Stand 22) with the Commonwealth of Pennsylvania, Core PA and Select Philadelphia. Together, we have an opportunity to shine as a state. When Pennsylvania thrives, the Pittsburgh region thrives. Our partnerships in the region and across the state are unique, and these partnerships benefit all of the participants.

What do you hope to accomplish at Hannover Messe?

We hope to accomplish a lot at the trade show.  The first thing that caught our attention was the term “Industry 4.0,” which was born out of Germany. “Industry 4.0” has been cited as the fourth Industrial Revolution, and it will be a large focus at the fair. Our own regional advances – “Pittsburgh 4.0,” as we call them – are contributing to this revolution and can be assets to other countries. From the Pittsburgh region, long-standing companies and visionary startups are delivering novel, disruptive and often globally impactful developments.  These are already touching industries and individuals worldwide and have the potential to be even more disruptive.

At Hannover Messe, the Pittsburgh region has an opportunity to show the world that these companies in the region are melding dramatic advances in robotics, artificial intelligence and 3D printing – many of which are tied to Pittsburgh’s robust academic and corporate R&D – with their typical operations. As such, they are enabling the production of an array of materials, products and services made faster, better and at less expense. This is a critical part of Industry 4.0, and it’s coming straight out of Pittsburgh.

Our region has an established manufacturing supply chain; innovation from research and development at Carnegie Mellon University – which will be represented at Hannover Messe – and the University of Pittsburgh; and support from regional and state economic development organizations.  Altogether, these assets play favorably to companies looking to establish a presence or do business in southwestern Pennsylvania.  Bottom line:  Pittsburgh is profitable for companies; that’s the message we want people to understand.

Another common thread is talent attraction and retention, which is the very backbone of a successful region. Attracting global talent to our region – and keeping the international students with amazing minds who come to study at our world-renowned universities – to work and live will diversify our population and increase our pool of future citizens. Having such diversity creates a nexus to attract the next wave of corporate investment to southwestern Pennsylvania. It will secure the region’s place as a truly international destination and soft landing for people and businesses alike.

When and how did your organization enter the global marketplace? With what countries or markets are you currently engaged?

The Pittsburgh region has a rich history in the global marketplace. The steel made in our mills was exported to “built the world” in the 20th century.  Those business and trade connections remain but are now expanded into other sectors such as healthcare and life sciences and information technology.

Currently, we’re engaged with Germany, France, the U.K., Japan, Canada and Australia.

Germany is a key target market for us this year. It’s an outstanding example of the role foreign direct investment (FDI) plays in advancing economic opportunities in the Pittsburgh region. Germany is a leader (second only to the U.K.), when considering quantity of investment, among the 33 countries with investment ties to the region.

The article, “Why German Companies Feel at Home in Pittsburgh,” published in IndustryWeek in July 2014, sums up the attraction nicely:

“When half of the 20 largest German-owned companies have a presence in one city, you have to ask why. Pittsburgh home to 170 German companies, 75 of which are manufacturers. With numbers that large, including a workforce of 11,000, it can safely be said that it’s not a coincidence.

There are a number of factors: a strong workforce with a history of skills in specific areas in which German companies excel, a landscape that looks like home to German ex-pats and similar cultural values. But the one that stands out is the ability to combine the reputations of the two countries into a strong product offering.”

In addition, because of our strengths in cybersecurity, the region outbid other U.S. regions to host a German Cyber Security mission coming to Pittsburgh in the fall. This initiative will be in conjunction with our partner, the Pittsburgh chapter of the German American Chamber of Commerce.

What impact has this had on your organization or region? What advice do you have for other American organizations looking at the global market?

The Pittsburgh Regional Alliance and our region have benefited from the diverse companies entering our market. The creation of jobs and the access to other potential investments in other countries have successfully reinforced our pipeline and broadened our outreach.

In terms of advice, I’d relay lessons I’ve taken from my personal experience of recently becoming a United States citizen last December. It was a long journey which took time and investment, but citizenship was worth all the hoops I had to go through, and I could not be prouder to officially be a part of this incredible nation.  I tell the international companies that I work with that while they can perceive the USA as a hurdle too tall to jump, there is real opportunity here that will make it worth their while.  I am frank in telling them that they have to be serious about entering the market, do the necessary leg work and be in it for the long haul – all of much is not very different from becoming a citizen, in my mind. The same goes for American organizations looking at the global market. There is effort, but it’s not without reward.

 

 

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Just in Time for Hannover: Seven Top Markets Reports Released

April 14, 2016

Marcus Jadotte is ITA’s Assistant Secretary of Commerce for Industry & Analysis.

Earlier today, the International Trade Administration (ITA) released seven new Top Markets Reports to provide the latest assessment of export opportunities for U.S. companies that attend the world’s largest annual trade show for industrial technology: Hannover Messe 2016.

The Top Markets series is a collection of sector-specific reports that are designed to help U.S. exporters compare markets across borders, using market intelligence and data to inform decision-making. Providing new market intelligence, the reports related to the Hannover Messe pavilions and themes are:

Each Top Markets Report includes commentary on opportunities, trends, and challenges facing U.S. exporters in the largest potential markets. The reports combine the unique expertise of ITA’s sector leads in Industry & Analysis with economic data and the views of our staff stationed around the world. In addition to these seven new reports, more than a dozen other sector-specific reports are currently available on our top markets webpage. .New versions of these reports will be released later this year. The Top Markets Reports released today provide valuable market intelligence about future export opportunities, including Germany. Germany is ranked as a top 10 export market for industrial automation, manufacturing technology, cloud computing, aircraft parts, and automotive parts. Each of these reports has a separate case study devoted to the opportunities and challenges of exporting to Germany.

We hope you find these tools beneficial as you prepare for Hannover Messe. Once at the fair, our sector and country experts, including many of the authors of these reports, will be on the ground ready to speak with you about this market intelligence and connect you with buyer delegations and foreign attendees.

For the first time in the trade show’s history, the United States is the Partner Country at Hannover Messe. The more than 425 companies, economic development organizations, and U.S. universities, comprise the largest U.S. exhibitor delegation to Hannover. The show, which takes place April 25-29, 2016, typically hosts more than 200,000 attendees from 70 countries, and more than 2,500 members of the media. President Obama will be the first sitting U.S. President to participate in Hannover Messe, proving that support for the event comes from the highest levels of our government. We look forward to seeing you in two weeks!

Note: ITA will live tweet from the event. Follow us @TradeGov and join the conversation using #HM16USA.

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Hannover Messe Exhibitor Spotlight: Apfelbaum Industrial, Inc.

April 14, 2016

This post originally appeared on the Department of Commerce blog.

Ed. note: This post is part of a series highlighting the upcomingHannover Messe Trade Show April 25—29, 2016. This series will highlight U.S. exhibitors that will participate in the world’s leading trade fair for industrial technology. 

Guest blog post by OCTAVIO MANZANO , President of Apfelbaum Industrial, Inc.

This is your first time at Hannover Messe. What factors influenced your decision to participate this year?

Octavio Manzano in IEEE Acapulco Mexico Show 2014, Talking to the CFE attendants about Oil Transformer Reclaiming

Octavio Manzano in IEEE Acapulco Mexico Show 2014, Talking to the CFE attendants about Oil Transformer Reclaiming

I think is great opportunity to be expose because is the biggest show in Europe and there are so many worldwide companies  in several fields    how maybe we can partner or establish  relationship and there will be so many prospect clients how maybe we can capture.

Why is the Energy and Mobilitec pavilion a natural home for you?

Because we are involve in Power Generation, Transmission and Substations and we have also products for Oil Transformer Reclaiming all this services for Utility companies.

What do you hope to accomplish at Hannover Messe?

We like to make additional partnerships with other companies and we like to get new potential customers for other countries.

When and how did your company begin exporting?

We start exporting in 1987 to Mexico, then from 2007 we export to Venezuela also. Recently we  open a Branch in Dominic Republic.

What impact has exporting had on your company? What advice do you have for other American companies looking to start exporting?

We have been increasing our sales in those markets, therefore we find out the changes on those markets are continuous and even the rules for export are almost the same everywhere we need to  pay attention to the particular rules and contractual laws applicable to every Country which make difficult the competitiveness. Also  we need to have the lines of credit big enough to attend the financial challenges to manage the Purchase Orders, because the Banks always ask for domestic sales and they watch the export sales as very risky. Actually this is the biggest limitation to export, Lines of Credit for the Small Business.

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Hannover Messe Exhibitor Spotlight: Liberty Pumps

April 13, 2016

This post originally appeared on the Department of Commerce blog.

Ed. note: This post is part of a series highlighting the upcomingHannover Messe Trade Show April 25—29, 2016. This series will highlight U.S. exhibitors that will participate in the world’s leading trade fair for industrial technology. 

Guest blog post by John DeLuca, International Sales Manager atLiberty Pumps, Inc.

This is your first time at Hannover Messe. What factors influenced your decision to participate this year?

Liberty Pumps continues to expand its CE marked pump offering. This year Liberty Pumps has joined the leading Pump Manufacturers of the world in the Pump Plaza pavilion. Liberty has a twofold objective at Hannover Messe… first, to introduce our products and second, to attract pump distributors in Germany and the EU.

John DeLuca, International Sales Manager at Liberty Pumps, Inc.

John DeLuca, International Sales Manager at Liberty Pumps, Inc.

What do you hope to accomplish at Hannover Messe?

Our main goal at Hannover Messe is to expose our Liberty Pumps CE marked products to the EU end user customer base and to attract distributors to carry the Liberty Pumps line in Germany and the rest of the EU.

When and how did your company begin exporting?

Liberty Pumps started exporting outside of North America toward the end of 2010. Today, we export to Mexico, Central America, Caribbean, and most LATAM countries. We also export to North Korea, Philippines, China and Vietnam. We have recently begun to export to several EU countries including Sweden, UK, the Netherlands, and Spain.

What impact has exporting had on your company?

Exporting has made a valuable impact in the expansion of our engineering expertise, has increased our company’s turnover, and has grown our brand awareness on a global scale.

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Commerce Department’s New Investment Advisory Council Seeks Membership Applicants

April 13, 2016

This post originally appeared on the Department of Commerce blog.

Guest blog post by Vinai ThummalapallyExecutive Director of SelectUSA

Earlier this month, the Secretary of Commerce established the United States Investment Advisory Council (IAC). This council will serve as a key conduit for stakeholder input on how best to support U.S. economic growth through the attraction and retention of foreign direct investment (FDI).

Infographic on Foreign Direct Investment (FDI)

Infographic on Foreign Direct Investment (FDI)

This Council will consist of no more than 20 members appointed by the Secretary of Commerce. Each IAC member will serve for a two-year period and the Council will convene twice a year. The mission of the IAC is simple but important for job creation in the United States. The IAC shall:

  • Advise the Secretary on U.S. government policies and programs that affect FDI;
  • Identify and recommend programs and policies to help the United States attract and retain FDI; and
  • Recommend ways to support the position of the United States as the world’s preeminent destination for FDI.

The Investment Advisory Council is actively seeking candidates through May 10, 2016 who are U.S. nationals from eligible organizations including, but not limited to:

  • U.S.-incorporated companies that are majority-owned by foreign companies or by a foreign individual or individuals, or that generate significant foreign direct investment (e.g., through their supply chains);
  • U.S. companies or entities with business that includes FDI-related activities or the facilitation of FDI; and
  • Economic development organizations and other U.S. governmental and non-governmental organizations and associations with missions or activities that include the promotion or facilitation of FDI.

As a relatively new program within the U.S. Department of Commerce’s International Trade Administration, SelectUSA has already made an impact by helping facilitate more than $19 billion worth of FDI. But, we can always do better, and we seek to maximize every opportunity to attract new FDI and retain and expand current investments.

FDI is a fundamental element of the U.S. economy. With a total stock of FDI valued at $2.9 trillion (or 17 percent of GDP), the United States is the leading recipient of foreign investment worldwide. Across the country, the U.S. affiliates of foreign companies directly employ more than 6.1 million people, with an average compensation of $79,979 – well above the national average.

An additional 5.9 million jobs can be attributed to FDI through sourcing, increased incomes, productivity gains, and other economic effects. FDI also helps drive American innovation and connects American communities with global markets. In fact, in 2013 alone, these companies spent $53 billion on research and development in the United States and were responsible for more than one fifth of U.S. goods exports ($360 billion).

Global companies continue to recognize the benefits they can derive from investing here, such as our stable and transparent business environment, strong culture of innovation, and highly productive workforce. These investors, along with U.S. economic developers, industry representatives, and others, can serve as some of the strongest advocates for American economic growth through channels such as the IAC.

The inaugural meeting of the IAC is anticipated to coincide with the  2016 SelectUSA Investment Summit, a three-day event in Washington, D.C. from June 19-21.  Our 2015 Summit was filled to capacity with business executives from 70 countries, economic developers from every corner of the country, and others working to facilitate job-creating investment. We are already on track for another high-profile event!

To learn more about the IAC, please visit www.trade.gov/IAC. For full membership criteria and application details, please review the Federal Register notice announcing the opportunity to apply. General inquiries can be addressed to IAC@trade.gov.

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