Tradeology, the ITA Blog

By Fred Volcansek, Executive Director, SelectUSA

The 2017 SelectUSA Investment Summit, June 18-20, concluded this afternoon. SelectUSA Executive Director Fred Volcansek looks back on the historic Summit and forward to SelectUSA’s ongoing mission: bringing job-creating investment to the United States. Summaries of Sunday and Monday be found here (day one) and here (day two).

I joined SelectUSA to help global businesses succeed by putting the American people first. As I look back over the past three days, I feel incredibly proud of our collective efforts to support this goal. I am inspired by the energy and enthusiasm that investors and economic developers alike have shown throughout the entire event, and believe more than ever that it’s time to get down to business.

Photo of the Department of Commerce team that made the 2017 Summit a reality. Seated in front, from left to right: Fred Volcansek, Executive Director of SelectUSA; Kenneth Hyatt, Deputy Under Secretary for International Trade; Israel Hernandez, Deputy Chief of Staff and performing delegated duties of the Under Secretary for International Trade; Wilbur Ross, Secretary of Commerce; Judy Reinke, Acting Director General for the U.S. and Foreign Commercial Service and Assistant Secretary for Global Markets; and Peggy Philbin, Deputy Executive Director of SelectUSA

First, some reflections over the last three days. This year’s Summit, hosted by Commerce Secretary Wilbur Ross, was SelectUSA’s biggest yet. More than 2,800 international business investors, U.S. economic developers, service providers, members of the global press, and other key stakeholders met under one roof. Economic development organizations (EDOs) from 51 U.S. states and territories had the opportunity to meet directly with decision-making investors from over 60 international markets.

The 79,000-sq.-ft. Exhibition Hall was filled to capacity as EDOs from every corner of the United States showcased what their states, territories, regions, and cities had to offer. Our online matchmaking system is continuing to log floods of individual meetings between U.S. economic developers and global investors, meetings that form the foundation of what will become job-creating business success stories.

CEOs from BMW, Oracle, ABB, Siemens USA, and many more joined forces in plenaries, armchair discussions, and breakout sessions to discuss the latest developments and trends affecting investment in the United States. Secretaries Alexander Acosta (Labor), Steven T. Mnuchin (Treasury), and Rick Perry (Energy) joined Secretary Ross to discuss how each department was working to make the Administration’s America First agenda a reality, while Secretary Rex Tillerson (State) delivered a video message to participants reaffirming the government’s commitment to strengthening public and private sector economic relationships.

The Summit’s theme, “Grow with US”, isn’t just a tagline; it’s an invitation to the world, and I was thrilled to see two companies respond accordingly. In a first for SelectUSA, two companies – French tech startup Klaxoon and Indian business management firm Genpact – joined Secretary Ross to announce their plan to establish operations in New York and Florida.

These announcements represent renewed confidence in the United States. President Trump is dedicated to unleashing America’s economic might, and that includes bringing more foreign direct investment into the country than ever before.

The 2017 Investment Summit may be over, but the work of attracting investment to the United States continues. So much of this work is performed by economic development organizations across the country, which offer a wealth of information and resources to guide investors through the process of establishing or expanding their operations in a specific location. And SelectUSA is also here to help, offering assistance with navigating the federal regulatory system, providing access to data and information, and connecting U.S. EDOs to investors from around the world – both directly and at events like the Investment Summit.

By investing in the United States and its people, you’re investing in your own success and in an economy that powers the world.

Come to the United States – your business is welcome here, and we’re ready to work with you.

For more information on SelectUSA and its services, please visit http://www.selectusa.gov. Follow SelectUSA on Twitter @SelectUSA.