Archive for the ‘Foreign Direct Investment’ Category

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SelectUSA: Playing FDI Matchmaker

May 22, 2018

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Steven Meyers is the Director of Outreach and Communications for SelectUSA

SelectUSA Investment Summit logoThe annual SelectUSA Investment Summit brings global business investors and economic developers together under one roof to spark job-creating foreign direct investment (FDI) deals. But beyond the four (large) walls of the 79,000-sq.-ft. Exhibition Hall, the core function of the Investment Summit is matchmaking, which happens digitally…and seamlessly. Next month, attendees will have access to a dynamic and user-friendly matchmaking platform, which is included with registration.

Most importantly, the platform—available via desktop and mobile app—will allow attendees to share information with other users, including meeting requests, exchanging virtual business cards, and searching for opportunities.

Digital matchmaking at last year’s Investment Summit played a critical role in bringing investors and economic developers together. Matchmaking at the Investment Summit – which featured more than 2,200 scheduled meetings – laid the foundation for job-creating investment projects across the country. One of those projects, a $100 million, 400-job distillery in New York, was borne out of talks between Romanian company Alexandrion and Empire State Development.  Another, Takigawa Corp. Japan’s 180-job manufacturing plant in Bardstown, Kentucky, came about as a direct result of SelectUSA meetings at the 2017 Investment Summit.

We hope for more projects like these to be launched at the 2018 SelectUSA Investment Summit. If you are part of a U.S. economic development organization or an international company considering the United States as its next investment location, we encourage you to register for the top FDI event in the country. SelectUSA invites you to join us in June.  Invest, grow, and succeed in the United States.

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The Show Me State Sees Significant FDI

April 11, 2018

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Guest blog post by Steve Johnson, CEO, Missouri Partnership

Graphic of the Missouri Partnership logo.Businesses with overseas locations are rapidly transitioning production back to the United States, and facilities are popping up in every region, including Missouri. Manufacturers are taking advantage of what Missouri has to offer by joining an existing industry center with the infrastructure and talent supplies already in place, including access to major customers.

The United States is poised to re-emerge as a manufacturing superpower, thanks in large part to foreign direct investment. Since January 2017, Missouri has attracted significant investments by foreign-owned companies and from U.S. companies’ reshoring jobs. Some examples include:

  • Brødrene Hartmann, a Danish manufacturing company, kicked off production at its U.S. headquarters in Rolla, Missouri;
  • Trans-Lux reshored jobs from China to Missouri;
  • Toyota invested more than $17 million in its Missouri plant; and,
  • Nammo AS, an international aerospace and defense company headquartered in Norway, chose Pettis County, Missouri, as the site of its latest U.S. distribution center.

SelectUSA EDO SPOTLIGHT SERIES:

This post is part of SelectUSA’s EDO Spotlight series, highlighting the work of EDOs around the country recruiting foreign direct investment, how that work supports jobs and economic growth across the United States, and how SelectUSA partners with EDOs to support economic development. 

“This move to Missouri is a well thought through strategy where all the benefits for all counterparts are optimized,” said Raimo Helasmaki, Nammo’s Executive Vice President of Commercial Ammunition. “The local authorities have been very easy to work with to help develop this project. We look forward to years of growth through this facility.”

In February, Faurecia, a leading automotive technology company headquartered in France, announced an investment of more than $60 million and the creation of more than 300 jobs in Blue Springs, Missouri.

“Kansas City Metro and the Blue Springs areas are known for being a source of excellence in American manufacturing, and we’re looking forward to building on that expertise and skill set as we continue to provide the very best to our customers,” said Donald Hampton, Jr., president of Faurecia Interiors in North America.

In March, Switzerland’s ARG International AG announced an investment in the U.S.-based Magnitude 7 Metals, creating more than 450 advanced manufacturing jobs in Marston, Missouri.

“From Washington to Missouri, what we are announcing today is the result of years of hard work and a major change in the way employers and farmers are treated,” said U.S. Representative Jason Smith (MO-8) about the Magnitude 7 investment. “We are bringing back the domestic aluminum and steel industries, and with it, jobs.”

Manufacturing buzz is building and it has crossed international barriers. Foreign companies recognize the advantages of manufacturing in the United States, and their interest is leading to serious discussions and decisions. This migration seems to be leading to a resurgence in American manufacturing prosperity, returning to its roots as a center of innovation and enterprise.

For more information on the Missouri Partnership, please visit missouripartnership.com.

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Eastern Idaho Secures Its First Foreign Direct Investment

February 9, 2018

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Guest post by Lisa Buddecke, Regional Economic Development for Eastern Idaho

Photo of Sakae Casting President and CEO Takashi Suzuki and Lt. Governor of Idaho Brad Little at the 2017 SelectUSA Investment Summit, June 20, 2017.

Sakae Casting President and CEO Takashi Suzuki and Lt. Governor of Idaho Brad Little at the 2017 SelectUSA Investment Summit, June 20, 2017.

Eastern Idaho, known for its Innovation Corridor – featuring extensive science, technology, and research sectors – secured its first foreign direct investment (FDI) success as a direct result of SelectUSA.

In the spring of 2017, Regional Economic Development for Eastern Idaho (REDI) celebrated the grand opening of two Japan-based metal fabrication businesses, Sakae Casting and Ohzen, in Idaho Falls. These investments, the first for both companies in the United States, were finalized after meeting with the Idaho team and SelectUSA representatives at the 2016 SelectUSA Investment Summit.

This FDI came about in a unique way. REDI’s CEO Jan Rogers first contacted Sakae Casting during its 2016 visit to Idaho Falls, thanks to a sister city program between Idaho Falls and Tokai-mura, Japan. At the recommendation of Rogers, Sakae, together with the company’s partner Ohzen, attended the SelectUSA Investment Summit later that summer.

“Thanks to Sakae Casting and Ohzen’s success at the SelectUSA Summit, their representatives returned to Idaho Falls to meet with potential partners, including the University of Idaho, Boise State University, and local advanced manufacturing companies,” Rogers said. “With support from our contacts at SelectUSA, Sakae decided to open its first U.S. location here to focus on research and development and partner with our universities, nuclear, and advance manufacturing companies in product development and sales.”

Selecting Idaho Falls was an ideal fit for Sakae and Ohzen. With the University of Idaho, Idaho State University, Brigham Young University-Idaho, and Idaho National Laboratory in the region, these entities are already beginning to pay off for Sakae Casting.

In November 2017, the Idaho Department of Commerce awarded a nearly $238,000 Idaho Global Entrepreneurial Mission (IGEM) grant to the University of Idaho, Boise State University, and the Center for Advanced Energy Studies to partner with Sakae Casting on research and development on spent nuclear fuel storage and cooling capabilities. The results of this partnership could impact nearly 100 nuclear power sites. The IGEM funding is vital to kick-starting Sakae’s extensive R&D efforts.

Without Sakae Casting attending the SelectUSA Investment Summit and SelectUSA’s ongoing support throughout the process, none of this would have been possible. This successful interaction is a testament to how valuable SelectUSA can be in fostering and supporting FDI in the United States, and how FDI projects can grow foreign capabilities and economic development years after the initial investment.

To learn more about the upcoming 2018 SelectUSA Investment Summit (June 20-22), please visit selectusasummit.us.

 

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Incorporating FDI in Economic Development: How the U.S. Economic Development Administration (EDA) Helps

January 5, 2018

This post originally appeared on the U.S. Economic Development Administration blog

By Peter Torpey, Intern, SelectUSA

SelectUSA and EDA slogansAs chair of the Federal Interagency Investment Working Group (IIWG), SelectUSA works across the federal government to coordinate and streamline policies and programs that affect foreign direct investment (FDI) in the United States. A significant part of that mission includes making resources readily available to the public, which is why SelectUSA and the EDA came together for the latest edition of the SelectUSA USG Webinars last month.

This webinar helped participants gain a thorough understanding of how EDA works with eligible grantees to support local strategies designed to attract FDI. Additionally, EDA specialists explained how their grants support the conditions needed to foster strong regional economic ecosystems that are attractive to foreign investors.

Working in concert with its grantees and state and regional economic development organizations (EDOs), EDA’s investment priorities , are designed to help establish a foundation for sustainable job growth, and the development of durable regional economies throughout the United States.

So, how exactly does EDA assist EDOs in attracting foreign investors?

EDA’s grantees are supported through a portfolio of flexible grant tools, which can help communities looking to advance their FDI strategies take control of their future, and position themselves for economic prosperity and resiliency.

A key EDA program that can help communities develop and implement these strategies is its Planning Program. The Planning Program invests in a national network of EDA-designated Economic Development Districts (EDDs), as well as Indian Tribes and other eligible recipients to support long-term strategic economic development planning efforts.

Through the development of Comprehensive Economic Development Strategies, regions have established and maintained robust economic ecosystems by helping to build regional capacity that contributes to individual, firm, and community success.

EDA’s Public Works and Economic Adjustment Assistance Programs can help communities implement their strategies. Through the Public Works program, eligible grantees can revitalize, expand, and upgrade their physical infrastructure to support new industry, business expansion, and economic diversification to generate or retain long-term, private sector jobs and investment. The Economic Adjustment Assistance Program – EDA’s most flexible program – helps communities adjust or bring about change to an economy through investments in infrastructure, planning, technical assistance, and access to capital.

In addition, EDA serves as the Federal Government’s lead for the integration of Federal economic development resources.

The webinar will be available on the SelectUSA website in February 2018. For an electronic copy of the EDA presentation, or for more information on future SelectUSA USG Webinar Series presentations slated for 2018, please email the SelectUSA Events team.

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An American Delegation of States in Paris (to Promote FDI)

December 11, 2017

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By Marie-Josee Andrieu, Investment Specialist at the U.S. Embassy in Paris, France, SelectUSA

SelectUSA logoFrance is the sixth-largest source of foreign direct investment (FDI) into the United States and an important international trading partner. Majority French-owned firms directly support more than 677,000 American jobs, while majority U.S.-owned firms directly employ 440,000 French workers. A central goal of the U.S. Embassy in Paris is to strengthen these bonds through increased cooperation and understanding.

SelectUSA and the Council of American States in Europe (CASE) recently hosted a “Set Up, Expand, and Succeed in the United States” seminar for 30 French companies planning to invest in the United States. We were joined by economic developers from 10 CASE member states: Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Ohio, Missouri, and South Carolina.

A panel of FDI experts provided attendees with information on the U.S. investment climate, as well as legal and regulatory considerations. French aerospace company Safran, which launched its U.S. operations in the 1970s, joined the panel to discuss its experiences.

Initial discussions between French companies and U.S. economic developers took place during more than 80 meetings at the event. We look forward to a continuing dialogue among these companies and CASE to promote potential investments. We hope to see many of the participants at the upcoming 2018 SelectUSA Investment Summit, June 20-22, in Washington, D.C.

For more information on the premier FDI event in the United States, please visit www.selectusasummit.us.

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Registration Now Open For 2018 SelectUSA Investment Summit

December 1, 2017

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

This post originally appeared on the Department of Commerce blog.

Post by Wilbur Ross

U.S. Commerce Secretary Wilbur Ross speaking to the audience at the 2017 SelectUSA Investment Summit.
U.S. Commerce Secretary Wilbur Ross at the 2017 SelectUSA Investment Summit.

Today, I am pleased to announce that registration is open for the 2018 SelectUSA Investment Summit, with this year’s theme of: Invest Here. Grow Here. Succeed Here.

The SelectUSA Investment Summit will take place on June 20-22, 2018, at the Gaylord National Resort and Convention Center near Washington. The goal is to connect global business leaders with U.S. states and their economic development organizations (EDOs) to facilitate foreign direct investment (FDI) in the United States.

The Summit is the pre-eminent event highlighting inbound investment opportunities throughout the United States, and our record of success proves that. Since our first Summit four years ago, participants have announced more than $71 billion in new investment projects into the United States, supporting thousands of jobs, expanding exports, and driving innovation through manufacturing, services, and increased research and development.

The Summit has helped the United States attracts more FDI than any other country in the world, with a total of $3.7 trillion at the end of 2016. These investments support more than 13 million direct and indirect U.S. jobs, and account for more than one-quarter of all U.S. goods exports of $353 billion.

The 2017 Summit attracted more than 3,000 attendees, including more than 1,200 global investors from 64 different markets and more than 600 economic development officials from 51 states and territories.

The Summit displays the pro-growth environment President Trump is creating through initiatives such as regulatory relief, tax reform, and increased energy production. I am confident these will help to maintain the United States as the #1 investment destination in the world. I look forward to seeing you next June at the Summit.

For registration and information regarding the 2018 SelectUSA Investment Summit, go to www.selectusasummit.us.

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Celebrating Manufacturing Day with a Focus on FDI

October 23, 2017

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By Mark Schmit, National Accounts Manager, Manufacturing Extension Partnership, National Institude of Standard and Technology (NIST) 

An employee of UK-based manufacturing company Domtar provides high school students with a tour of the company’s facility in Rock Hill, S.C. on Oct. 6.

An employee of UK-based manufacturing company Domtar provides high school students with a tour of the company’s facility in Rock Hill, S.C. on Oct. 6.

Although I believe Manufacturing Day is an everyday affair, the official 2017 Manufacturing Day has come and gone. On October 6, modern-day manufacturing was showcased to students, teachers, parents, prospective employees, elected officials, and more at over 2,800 separate events across the country.

It is neither a stretch nor an exaggeration to believe that Manufacturing Day 2017 accomplished what it set out to do—celebrate modern manufacturing and inspire the next generation of manufacturers in this country. Manufacturers build the things that power, move, and shape America. On October 6, manufacturers across the country opened their doors to show their community what manufacturing is all about.

South Carolina manufacturers have been a mainstay of Manufacturing Day participation since the beginning. Year after year, they have opened their doors to educate visitors. This year, 19 events were held statewide, six of which the South Carolina Manufacturing Extension Partnership Center (SCMEP), was a hosting partner. I want to highlight three of those partnership-led events that celebrated not only partnerships, manufacturing and American jobs, but also FDI, an important part of modern manufacturing in America:

  • Swiss Krono hosted a presentation and plant tour in Barnwell, S.C., for 10 attendees. Swiss Krono LLC, a division of Swiss Krono Group, began distribution in the United States in 2000, and opened its current Barnwell manufacturing facility in 2005. In Barnwell, Swiss Krono LLC creates virtually any style, shape, finish, texture, scrape, bevel, locking system, thickness, size and attached pad of laminate flooring planks sold through distributors, dealers and chains nationwide.
  • Located in Newberry, S.C., Komatsu hosted a presentation and plant tour in honor of Manufacturing Day for 74 attendees. Komatsu America Corporation is a U.S. subsidiary of Japan-based Komatsu Ltd., the world’s second largest manufacturer and supplier of earth-moving equipment, consisting of construction, mining, and compact construction equipment.
  • SCMEP partnered with UK-based Domtar in Rock Hill, S.C., to host a presentation and plant tour for 25 attendees, including students from the Floyd Johnson Technology Center. The event was so successful that it was covered by both local and state level media. Domtar is a leading provider of a wide variety of fiber-based products including communication, specialty packaging papers, market pulp and absorbent hygiene products.

These are just a few examples of the events coordinated by the MEP National Network across the country for the 2017 Manufacturing Day festivities.

More success stories and information on how to get involved are available here, and remember to mark your calendars for next year’s Manufacturing Day: October 5, 2018!

A member of the Federal Interagency Investment Working Group, NIST Manufacturing Extension Partnership works with SelectUSA, the sole federal program dedicated to promoting and facilitating foreign direct investment (FDI) in the United States. Together, these entities partner to encourage international companies to invest in the U.S. manufacturing industry.