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Investing in America: An Expanded SelectUSA Guide for Global Companies

May 25, 2021

Bill Burwell is the Acting Executive Director of the Department’s SelectUSA Program

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

When most people think about trade, they probably conjure images of containers shipped across oceans or trucked along highways. It’s true that America is a major exporter of goods and our ports are abuzz with activity around the clock. We’re also a major source of foreign direct investment—and while this trade term may not spark a visual, chances are high that you live in or near a community that benefits from it.

Simply put, foreign direct investment (FDI) is inbound investment into the United States from global companies. For the world, the United States is a great place to do business. We have the laws, the expertise, the work ethic and a world class workforce which businesses need to succeed. In fact, the U.S. has ranked #1 for nine years in a row as the top destination for foreign business investment. At the Department of Commerce, we have a program that specializes in attracting FDI—SelectUSA—and since its inception, it has facilitated more than $84 billion in inbound investment, creating and/or retaining over 106,000 U.S. jobs.

Some foreign investors may be experienced at entering multiple markets and extensively resourced to do so. Others may be exploring opening their first international location and in the early stages of information discovery. Either way, SelectUSA has a suite of services to help all types of investors, and offers counseling, introductions to U.S. economic development organizations, assistance navigating the U.S. federal regulatory system, and finally, products and events to help those investors better understand the U.S market.

One such example of the resources that SelectUSA has developed to assist potential investors is the SelectUSA Investor Guide, which was first launched in 2020.  Authored by competitively selected subject matter experts in their respective fields, the chapters in this guide are designed to give investors an overview of key topics essential to successful investing in the United States. The first edition of the guide covered topics such as an Overall Investment Checklist, Immigration, Business Structure, Taxes, Workforce and FDI Restrictions.

This year we proudly release 5 new additional chapters on the following topic areas:

Each of these chapters will inspire panel conversations at the upcoming 2021 SelectUSA Investment Summit, to be held virtually June 7-11, 2021, and which will be hosted by U.S. Commerce Secretary Gina Raimondo. The Investment Summit is designed for investors of all sizes – including established multinationals, small or medium-sized enterprises, and high-growth start-ups. The event will showcase investment opportunities from every (virtual) corner of the United States, as high-profile business and government leaders share insights on the latest business trends. Participants will find the practical tools, information, and connections they need to move investments forward.

We are thrilled to be a part of May’s World Trade Month celebrations, and even more excited to welcome FDI that helps to create export-supported jobs into the United States. If you are interested in learning more, information about the Investment Summit, including registration details, visit www.selectusasummit.us. It isn’t too late to sign up, and we hope to see you there!

Posted in Foreign Direct Investment, Inward Investment, SelectUSA, SUSA Summit, Uncategorized, World Trade Month | Tagged , , , | Comments Off on Investing in America: An Expanded SelectUSA Guide for Global Companies

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The United States Remains the Top Destination for Business Investment for the Ninth Consecutive Year

March 24, 2021

Diane Farrell is the Acting Under Secretary for International Trade

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

Today, A.T. Kearney released its 2021 Foreign Direct Investment (FDI) Confidence Index, ranking the United States as the top destination for foreign investors for the ninth year in a row. The United States continuing to be ranked first in the world is no small feat, and has been supported by the U.S. Department of Commerce’s SelectUSA program.

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Since its inception, SelectUSA has facilitated more than $84 billion in client-verified investment, supporting more than 106,000 U.S. jobs. Even during the global pandemic, companies across the world continue to target the United States as the launch pad for global growth, with the SelectUSA team supporting them through client services such as assistance navigating the federal regulatory environment, market research, and counseling.

Following a year of adjusting to our new reality in the wake of the global COVID-19 pandemic, this news comes as no surprise, showcasing the United States’ ability to adapt and overcome unprecedented challenges. At SelectUSA, we are celebrating the retention of our #1 spot in the 2021 Confidence Index, as FDI creates jobs and contributes to economic development across the United States. The ranking in the Index is a direct reflection of the appeal of the U.S. economy and how that economy enables businesses of any size to access a massive consumer base, explore working within a culture that welcomes innovation, and employ a world-class, productive workforce.

When looking to invest, investors look for established markets that are safe and stable, possess strong infrastructure, strong governance, macroeconomic stability, and are known for their progress in technology and innovation. These are all attributes the U.S. market is proud to maintain. The United States offers unmatched diversity, a culture of innovation, and the world’s most productive workforce to companies of all sizes, from startups to multinationals, looking to grow and succeed in the U.S. market.

For foreign companies considering investing in the United States and for economic development teams looking to attract job-creating business investment, there is no better place to connect than the virtual 2021 SelectUSA Investment Summit from June 7-11, 2021. This is the United States’ highest profile event dedicated to promoting FDI, and plays a key role in attracting and facilitating business investment and job creation by raising awareness about the wide range of investment opportunities in the United States and enabling vital direct connections between investors and U.S. economic development organizations.

The 2019 SelectUSA Investment Summit was one of its largest, drawing more than 3,100 attendees to Washington, D.C. Several new announcements were made, including nearly $100 million in new investment projects and the release of SelectUSA’s case-study report on reshoring in the United States. In total, 1,200 business investors from a record 79 international markets joined economic developers from 49 states and territories. The Investment Summit has directly affected more than $48.4 billion in new investment projects supporting more than 45,000 U.S. jobs.

I hope you will join us this year to network, learn more about how to expand through investment, and see firsthand why the United States continues to remain top destination for business investment for the ninth year in a row.

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SelectUSA Investment Summit 2021: Select Global Women in Tech Mentorship Network Call for Applications Now Open!

March 8, 2021

by Jacqueline Vitello, Deputy Director of Programs and Events, SelectUSA, International Trade Administration

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

2021 SelectU

Calling all mentors and mentees! This June, as part of the 2021 SelectUSA Investment Summit, we are thrilled to launch the Select Global Women in Tech (SGWIT) mentorship network. Applications for mentors and mentees are open now until the start of the Summit. This new mentorship network will introduce international female tech entrepreneurs to the U.S. market with the support of SelectUSA’s traditional data and counseling services as well new training opportunities. The SelectUSA team is proud to bring together resources from across the United States to support international female entrepreneurs in their U.S. investment journey.

SGWIT is a virtual platform designed to support mentorship and learning. Mentees will be matched with mentors based on their goals, respective industries and expertise. Mentors will be selected from across the U.S. startup ecosystem based on their interest in supporting female-run businesses. Participants are asked to commit to at least three one-on-one virtual meetings over the course of the six-month program, at least one progress update check-in, and then a final meeting to follow up and decide on next steps. Both mentors and mentees will benefit from the one-on-one relationship as they build new skills, make new contacts, ignite new ideas, achieve their goals, and reinvigorate their own work.

If you or someone you know is interested in serving as a mentor or the opportunity to be a mentee, check out the information below.

Mentees: Female founders interested in taking advantage of this unique opportunity should apply to attend the 2021 SelectUSA Investment Summit and indicate interest in the mentorship network during the application process.

Mentee qualifications:

Participants interested in applying for the SGWIT Mentorship and Training Network must fit the following criteria:

  • Company headquarters must be based outside of the United States and the company must be
    • Less than 8 years old
    • Up to $10 million in revenue
    • Up to 40 employees
  • Mentee applicants must identify as female
  • Company must be developing a new technology product or service, or delivering an existing technology to a market in new ways

Note: Mentees must be approved as 2021 SelectUSA Investment Summit participants.

Mentors:  SGWIT mentors are U.S.-based successful entrepreneurs, corporate executives, venture capitalists, angel investors, and attorneys interested in supporting international female founders in their efforts to achieve their U.S. expansion goals. Mentors will be asked to be a sounding board and offer suggestions to help mentees overcome the challenges they face in scaling, promoting, fundraising and generally establishing their business in the United States. Note that U.S. government employees and economic development organization officials may not serve as mentors but may support the network via educational content contributions.

If you are interested in participating as a mentor, please fill out this form.

Note: All mentors must be vetted by SelectUSA before being confirmed.

The SelectUSA team looks forward to welcoming both mentors and mentees to this new network and to supporting the growth of female-run businesses around the world.

SelectUSA is the U.S. government program housed within the U.S. Department of Commerce that focuses on facilitating job-creating business investment into the United States and raising awareness of the critical role that economic development plays in the U.S. economy. Since its inception, SelectUSA has facilitated more than $81 billion in investment, creating and/or retaining over 100,000 U.S. jobs. While SelectUSA offers assistance to companies of all sizes and sectors, we recognize that certain types of companies, including small women-run businesses abroad, require different and more specific types of support. Female entrepreneurs, especially those in the developing world, often lack access to markets, market information, networks, mentorship, and other resources that enable them to overcome the obstacles of starting and growing firms as well as connecting with financing opportunities. Alongside access to capital, networks have emerged as the most important driver for women’s entrepreneurial success. Multiple studies reveal that female founders that participate in a business network are far more likely to forecast growth for their companies.[1]

[1] EY G20 Entrepreneurship Barometer 2013 Survey, EY, 2013; “Lack of Business Networks Holding British Female Entrepreneurs Back,” The Telegraph, July 2, 2018.

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Swiss Companies, U.S. Jobs, Global Response

June 23, 2020

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Edward T. McMullen, Jr. is the U.S. Ambassador to Switzerland and Liechtenstein

A lot has changed in the course of just a few months in 2020. One thing that has not changed: The U.S.-Swiss business relationship remains strong and is a critical part of our overall bilateral ties. In fact, I have been impressed by the innovation and efficiency of Swiss and American companies, working together to find a solution to the pandemic. Switzerland and the United States have a long tradition of cooperation in business and research; we are natural partners, who share common values such as entrepreneurship, the rule of law, freedom, and democracy.

In my nearly three years as Ambassador, I’ve been honored to meet with Swiss companies of all sizes that are supporting jobs in the United States. During the pandemic, I’ve been excited to learn about U.S.-Swiss corporate partnerships working towards vaccines and treatments, Swiss companies that have increased production of critical healthcare equipment, and the companies that have changed their operations to produce resources for the global response. Not only did these companies take swift and decisive action in support of COVID-19, they also increased their U.S. footprint, with operations in many states across the country, thereby providing many more jobs to Americans. The current Administration’s adoption of strong economic growth policies, including low corporate tax rate, and drastic reductions in regulations greatly aided Swiss investors’ pursuit in their U.S. expansions. Our SelectUSA representative and I are in regular contact with these companies and others to assist whenever needed.

For example, Lonza, one of the world’s leading suppliers to the pharmaceutical, biotech and specialty ingredients markets, recently announced a partnership with Massachusetts-based biotechnology firm Moderna to jointly manufacture vaccines to combat the coronavirus. Our Embassy team and SelectUSA have worked with Lonza for several years, and I salute their work in this field. I and SelectUSA Investment Specialist Sandor Galambos visited the Lonza facility in Greenwood, South Carolina in May 2019 to celebrate the progress of a $46 million expansion. The event marked the ceremonial groundbreaking of the project’s second phase. Governor McMaster attended the event as well.

In a fast-track procedure, Swiss multinational healthcare company Roche Diagnostics received emergency approval from the U.S. Food and Drug Administration to sell to labs the first commercially approved test for the coronavirus in the United States. I am grateful that Roche Diagnostics’ top-notch technology has been made available to millions of Americans and people around the world.

As part of my engagement with company principals in Switzerland, I will visit the Hamilton Medical facility in the coming weeks to witness the terrific work the company is doing for humanity. Hamilton Medical ramped up its production of ventilators at its Reno, Nevada, facility to meet the needs of the United States and more than 100 other countries. These efforts are not only beneficial in supporting global health care heroes, but also supporting hundreds of additional jobs in the United States and providing skills training to U.S. workers. President Trump mentioned Hamilton’s role in ventilator supplies at White House press briefings, and Vice President Pence welcomed the delivery of Hamilton ventilators to the national stockpile on April 8.

Firmenich, the world’s largest privately-owned fragrance and taste company, has increased its production capacity to produce hand sanitizer gel for hospitals, as well as for medical and emergency services across the United States. President of Firmenich North America Matthew Furner told me, “We all have an obligation to lead our business responsibly. We at Firmenich are proud that this is always

central to how we do business.” Mr. Furner joined the Swiss delegation to attend the SelectUSA Investment Summit in Washington, D.C., in 2019. He was a featured guest on a panel at the SelectUSA Investment Summit to hear from CEOs on the state of the industry and the myriad opportunities in the United States for potential investors in the food and beverage and agriculture sectors.

These are just a few examples of the many ways the U.S.-Switzerland partnership, led by innovative Swiss and American companies, is helping fight the global pandemic. You can follow our team at @USEmbassyBern to learn about more examples. And when this fight is over, Swiss companies will continue to create jobs and support innovation in the United States, just as so many U.S. firms do in Switzerland.

It is my honor to be a part of those efforts. I salute the entire team at the Embassy and our partners at SelectUSA as we continue to grow this partnership.

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Global Outlook: United States Remains the Largest Destination for FDI in the World

March 17, 2020
Kara Mazachek is an Economic Research Analyst at SelectUSA.

The United Nations Conference on Trade and Development (UNCTAD) released the latest issue of its Global Investment Trends Monitor in January. With this release, the Investment Research team at SelectUSA was excited to analyze the latest global 2019 numbers and better understand a few of the key global foreign direct investment (FDI) trends during the last year!

In 2019, global FDI flows totaled $1.39 trillion, which was a one percent decrease from $1.41 trillion in 2018. These global flows reflect both mergers and acquisitions (M&As) and greenfield investment activity. This slight decline in FDI flow accompanied global patterns of slowed economic growth and policy uncertainty. While there is great country-specific variation in trend, FDI flows to developed countries decreased six percent to a historically low level of $643 billion. Simultaneously, flows to developing countries were constant at $695 billion. Announced greenfield projects, an indicator of future trends, overall performed better than cross-border M&As in 2019. Globally, announced greenfield projects decreased 22 percent, compared to a 40 percent decrease in announced cross-border M&As.

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In contrast to larger declines in other developed economies, the United States received consistent inward FDI between 2018 and 2019, with $251 billion in inflows in 2019. These preliminary estimates indicate that the United States is still the largest destination for FDI in the world, with inflows at least $100 billion greater than those of any other destination market. Germany, Japan, and the Netherlands were the largest source markets of FDI flows to the United States, while U.S. inflows from Canada and the broader European Union (EU) significantly declined.

Overall, the EU saw a 15 percent decrease in FDI inflows to $305 billion. Despite being the top destination for FDI in Europe, the United Kingdom’s FDI inflows fell by six percent as it approached Brexit. France and Germany also were in the top 10 destination markets for FDI inflows at $52 billion and $40 billion, respectively.

FDI inflows to developing Asia made up one-third of global FDI flows in 2019, despite its FDI value declining six percent from 2018. Hong Kong drove much of this drop as its own inflows fell by 48 percent amid divestment and unrest. However, Hong Kong remained the sixth-highest destination market in the world for FDI. Inflows to China saw almost no change from 2018 to 2019, leaving China the second-highest destination market for FDI in the world at $140 billion, followed by Singapore at $110 billion.

Lastly, despite these trends in other parts of the world, the Latin America and Caribbean region saw inflows increase by 16 percent, reaching $170 billion in 2019. Within the region, Brazil’s inward FDI flows increased by 26 percent to $75 billion, cementing itself as the fourth-largest recipient of FDI in the world. UNCTAD gives some of the credit for this jump to Brazil’s new privatization program, which launched in July 2019 as an effort to revitalize the economy.

What does this mean for 2020? The global outlook is optimistic! UNCTAD projects that global FDI flows will increase slightly during the next year alongside continuing high corporate profits and growing international trade. UNCTAD also expects GDP growth and capital investment to increase globally. While UNCTAD noted a 22 percent decrease in global greenfield FDI announcements from 2018 to 2019, the opposite was true for the United States. Data from fDi Markets indicated that the value of greenfield FDI announcements into the United States totaled $91.7 billion in 2019, a 26.9 percent increase from 2018.

With consistently strong U.S. growth in greenfield FDI and a positive global forecast, SelectUSA is excited to welcome and facilitate even more greenfield investment in the United States throughout 2020.

About SelectUSA
Housed within the U.S. Department of Commerce’s International Trade Administration, SelectUSA promotes and facilitates business investment in the United States. To learn more about SelectUSA’s services, the U.S. business and investment climate, and how FDI benefits the U.S. economy, visit selectusa.gov and follow @SelectUSA on Twitter.

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FDI in High-Tech: Innovation and Growth in The United States

February 5, 2020

Kara Mazachek is an Economic Research Analyst at SelectUSA

Following SelectUSA’s participation in the Consumer Electronics Show (CES), it is the optimal time to look at how foreign direct investment (FDI) in high technology, or high-tech, supports innovation and growth in the United States.

What is high-tech?
SelectUSA defines the high-tech sector as an industry that relies on a skilled and educated workforce, acts as an innovative producer in our economy, and creates and utilizes advanced technologies. Perhaps unsurprisingly, the high-tech sector’s share of workers in science, technology, engineering, and mathematics (STEM) occupations is more than twice that of the national average.

This industry is quite large and growing consistently, according to data from the Bureau of Economic Analysis (BEA). In 2018, high-tech companies contributed $8.3 trillion of economic value in the United States, accounting for nearly 23 percent of U.S. gross domestic product (GDP). Additionally, high-tech companies employ approximately 20 million U.S. workers. The U.S. high-tech industry also continues to grow, especially in fields such as the data processing, hosting, and related services sub-industry, which had a compound annual growth rate (CAGR) of 57.9 percent from 2013 to 2018.

How has FDI impacted the U.S. high-tech sector?
FDI supports the high-tech industry in the United States and helps it thrive. Specifically, the inward position of FDI in the U.S. high-tech sector was $2.0 trillion in 2018. That’s 46 percent of total FDI in the United States! It also steadily continues to grow: the five-year CAGR for FDI in the high-tech sector was 10.1 percent between 2013 and 2018. This growth is faster than the comparable all-industry FDI CAGR average of 9.8 percent.

High-Tech FDI in US for the Feb 5 Blog Post

The United States sees tangible results from high-tech FDI. According to BEA, foreign-owned companies in high-tech industries have steadily increased their annual U.S. research and development (R&D) spending over recent years to $48.7 billion in 2017. High-tech FDI also accounted for $169.5 billion of total U.S. goods exports in 2017. Additionally, foreign-owned U.S. affiliates in the high-tech sector directly supported more than 2.1 million U.S. jobs in 2017.

So, what does this mean for the high-tech sector?
All these data points further confirm that high-tech investment are important drivers of growth for the U.S. economy. As FDI into this sector continues to grow, the United States will see advanced innovation, continue to employ millions of highly skilled and educated workers, and further the competitiveness of our high-tech sector. To maintain success in high-tech and all other sectors, SelectUSA will continue to help global business investors and U.S. economic developers to succeed in the U.S. economy.

To learn more about how SelectUSA supports FDI in all industries, sign up for our email updates and visit SelectUSA.gov for resources such as FDI fact sheets, interactive data tools, and informative reports. You can also read our previous report on FDI in high-tech.

About SelectUSA
Housed within the U.S. Department of Commerce’s International Trade Administration, SelectUSA promotes and facilitates business investment in the United States. To learn more about SelectUSA’s services, the U.S. business and investment climate, and how FDI benefits the U.S. economy, visit selectusa.gov and follow @SelectUSA on Twitter.

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BEA’s Latest FDI Data (Again) Confirms It: There’s No Better Place to Invest and Do Business Than the United States

December 12, 2019

Kara Mazachek is an Economic Research Analyst at SelectUSA

As we approach the end of 2019, we’re reflecting on the positive state of foreign direct investment (FDI) in the United States. The most recent data update from the U.S. Bureau of Economic Analysis (BEA) was great news for economic growth and FDI’s important role in the U.S. economy.

By the end of 2017, 7.4 million workers were employed by majority foreign-owned firms in the United States, a 2.8 percent increase from 2016.[1] This accounts for nearly six percent of all private-sector employment in the United States and approximately seven percent of total U.S. business-sector GDP. Despite the United Nations Conference on Trade and Development’s (UNCTAD’s) World Investment Report finding the third consecutive annual decline in global FDI flows in 2018 – down 13 percent from $1.5 trillion to $1.3 trillion – the United States has consistently remained the largest recipient of FDI in the world. These data points further confirm that the United States is and will continue to be the best place to invest and do business.

The benefits don’t stop there. FDI accounted for 16.4 percent ($258.6 billion) of total U.S. private business capital expenditures in 2017. Foreign-owned companies also increased their U.S. R&D spending by 8.1 percent to $62.6 billion and accounted for a quarter ($382.7 billion) of total U.S. goods exports in 2017. These firms’ value-add to U.S. GDP increased by more than eight percent to $1 trillion in 2017 alone.

Specifically, the three global markets that contribute the most to FDI-supported employment in the United States are the United Kingdom, Japan, and Germany, which is not surprising as these markets historically are among those with the most FDI stock in the United States and are also among the largest economies in the world. At the national level, the states with the highest percentage of FDI-supported employment are Kentucky, South Carolina, and New Jersey, where over eight percent of employment is supported by foreign-owned firms. In all three states, those firms employed the most workers in the manufacturing industry.

So, what can we expect in 2020? UNCTAD reports that greenfield project announcements were up 41 percent in 2018, indicating forward investing plans. Further, the FDI Confidence Index estimates the United States will attract the most investment in the next three years due to our large domestic market, continued economic expansion, and technological and innovative capabilities. Again, this confirms what we already know, which is that the United States has the right mix of talent and innovation for companies to thrive in a competitive global economy. To ensure this trend continues, SelectUSA will continue to support business investment in the United States and work to give global business investors and U.S. economic developers the information and tools they need to succeed in the U.S. economy.

Stay Current on FDI
Keep your eye out for BEA’s next FDI data release in July 2020 that will provide  new investment opportunities in the United States. For more information on FDI in the United States, sign up for email updates from SelectUSA and visit SelectUSA.gov for resources such as FDI fact sheets, interactive data tools, and informative reports. You can also follow and contribute to our #FDIintheUSA campaign on Twitter!

About SelectUSA
Housed within the U.S. Department of Commerce’s International Trade Administration, SelectUSA promotes and facilitates business investment in the United States. To learn more about SelectUSA’s services, the U.S. business and investment climate, and how FDI benefits the U.S. economy, visit selectusa.gov and follow @SelectUSA on Twitter.

[1] Latest available data

 

 

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America Welcomes the World’s Business

November 12, 2019

By Secretary of Commerce Wilbur Ross

America is where the world does business. It is not difficult to see why: companies expanding here will find a culture of innovation, dedication to hard work, and a high quality of life. From its inception. it has been the job of SelectUSA to encourage companies to benefit from these unmatched and unparalleled advantages the U.S. has to offer.

More formally put, the mission of SelectUSA is to facilitate job-creating business investment into the United States and raise awareness of the critical role that economic development plays in the U.S. economy. One of the primary avenues where this mission is accomplished is through the annual SelectUSA Investment Summit.

Today, I am pleased to announce that registration is open for the 2020 SelectUSA Investment Summit — where companies looking to invest in the United States can learn the skills and make the connections to fuel their business’ growth in America. In 2020, the Investment Summit will take place June 1-3, at the Washington Hilton, in Washington, D.C.

Year after year, the Investment Summit buzzes with energy, creating an environment of entrepreneurship, excitement, and potential. Thousands of people from all over the world come here to gain insight into the business environment, learn of industry trends, and bring business deals to fruition. International delegates connect with economic development organizations (EDOs), all of whom can showcase the unique resources of their states and towns, while service providers exhibit the variety of assistance they can offer to expanding companies.

SWR Ivanka Barbara Humpton -SUSA 2019 registration 1101219

The 2019 SelectUSA Investment Summit welcomed more than 3,100 attendees, including global business leaders, U.S. economic development professionals, and leaders from the top of the U.S. government. Pictured here are Commerce Secretary Wilbur Ross, Advisor to the President Ivanka Trump, and Siemens USA CEO Barbara Humpton.

Additionally, our Academy sessions demystify the process of investing in the United States. Topics range from understanding how to finance a startup company to navigating the U.S. visa process. These sessions are planned with our attendees’ interests in mind, as we accept proposals for topics and speakers to include on the agenda.

The 2019 Investment Summit was the most successful to date, where more than 1,200 international delegates connected with nearly 800 EDO representatives and 300 service providers from nearly every state and territory in the U.S. The Investment Summit has directly impacted more than $32.5 billion in U.S. investment projects supporting more than 38,400 U.S. jobs. At the recent 2019 Investment Summit, four investment announcements were made with a value of nearly $100 million, which will in turn create new jobs for American workers. We hope to build upon these successes.

In 2020, we are excited to help you and your company reach its full potential in the United States at the SelectUSA Investment Summit.

I hope to see you there.

Click here to apply.

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US Senators Manchin and Capito Invite Global Business Leaders to Attend SelectUSA Investment Summit and Discover Why West Virginia is the Right Choice for Global Companies

June 7, 2019

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

Sara B. Dearing is the Executive Director of Discover the Real West Virginia Foundation

West Virginia is the premier location for global companies to expand and relocate. Companies that come to West Virginia are met with a thriving business climate, a dedicated and technically-trained workforce, low cost of doing business, an abundant and inexpensive supply of energy – and unending support from our local, state and federal leaders. manchin-capito_play-button

West Virginia’s U.S. senators not only play a hands-on role when it comes to attracting investment, they are dedicated to ensuring that companies that do invest in West Virginia, succeed.  This unwavering commitment to helping global companies find a home in the Mountain State is why Senators Joe Manchin and Shelley Moore Capito have teamed up to invite global executives to attend the SelectUSA Investment Summit and to join them at the West Virginia Booth (#714) for the State and Local Night Reception on June 11. Additionally, our senators invite business leaders to attend the West Virginia Spinoff Event, June 13-14, in Wheeling, West Virginia.

Here’s just a few reasons for global executives to choose West Virginia:

  • West Virginia is home to 136 global companies (including Toyota, Gestamp, Covestro, Novartis, TransCanada, Sogefi, Safran, and more) representing 30 countries from around the world with a diverse manufacturing base of industries including aerospace, automotive, chemical and polymers, energy, defense, and information technology, to name a few.
  • West Virginia has the strategic advantage of being in a region with the most cost-effective and abundant natural gas in the industrialized world. This region is right in the middle of half the U.S. market, and close to over two-thirds of U.S. polyethylene consumption.
  • West Virginia (located in Shale Crescent USA) is the most profitable place to locate petrochemical and other manufacturing plants. In fact, Yahoo Finance, the US Department of Energy, oilprice.com and others are calling this region “a second U.S. Petrochemical Hub”.
  • According to the American Chemistry Council, the Appalachian Region is uniquely positioned over the next decade to become a major petrochemical hub with the potential to attract $36 billion in new chemical and plastics industry investment.

It’s not just the aesthetic beauty of the state and its abundant natural resources that make West Virginia a great place to do business.  Deep down, it’s the people that make West Virginia a world-class location, and a state dedicated to providing the resources to elevate your company to the next level. Please come and meet our team, including Senators Manchin and Capito, at the SelectUSA Investment Summit, then join us in Wheeling for our spinoff event, and let’s get down to business.

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The 2019 SelectUSA Investment Summit: Ivanka Trump, Larry Kudlow, Tech Startups & More

June 6, 2019

Brian Lenihan is the Executive Director of SelectUSA

The SelectUSA Investment Summit brings global companies together with economic developers from across the United States, all for one purpose – to connect global business to local investment opportunities. I am honored and thrilled to say that this year’s Investment Summit will feature special guests from the White House. Advisor to the President Ivanka Trump and National Economic Council Director Larry Kudlow will provide keynote remarks to more than 3,000 attendees on June 11-12. Both will focus on how business investment and SelectUSA play key roles in America’s economic resurgence.susa graphic

Their inclusion in the program is further evidence of the Administration’s dedication to creating a pro-growth business environment where the world’s companies can flourish. It is also further evidence that the 2019 SelectUSA Investment Summit is the premier business investment event in the United States.

Global companies directly support more than seven million U.S. jobs, and SelectUSA is working to increase that number. But we are also dedicated to working with national and international stakeholders to ensure that American workers are equipped with the skills and education needed to succeed in the 21st century. That’s why Ivanka Trump will join Secretary of Commerce Wilbur Ross and Siemens’ U.S. CEO Barbara Humpton for a panel discussion on workforce development. Later that day, they will join several international business attendees for the signing of the Pledge to America’s Workers, a commitment to expand training and education for the U.S. workforce.

On Monday, the Investment Summit will commence with the Academy, a one-day series of educational panel discussions and presentations designed to get everyone up to speed with the latest trends in foreign direct investment (FDI). These in-depth sessions provide a foundation for attendees, giving them the tools, strategies, and information needed to turn business potential into business opportunity.

The following two days will offer an exciting mix of SelectUSA firsts and mainstage sessions on a wide array of topics: advanced manufacturing, artificial intelligence, workforce development, and more. Executives from Royal Dutch Shell, Siemens, Intel, SoftBank Group, and many more will share their experience and insight. New this year will be several industry-focused discussions between U.S. governors on how their states are working to attract, retain, and grow FDI. Of course, new investments will be announced in the Exhibition Hall as well.

The new features don’t stop there. The first-ever SelectUSA Tech Startup Investment Spotlight will feature dozens of early-stage tech startups eager to jump into the U.S. market. These companies will pitch their products and designs directly to U.S. investors, incubators, accelerators, and economic developers. In other words, it will be a match made in startup heaven.

The involvement of Ivanka Trump and Larry Kudlow and the addition of SelectUSA Tech promise to make this Investment Summit an incredible success. If you are unable to attend this year, I invite you to watch the livestream at SelectUSA.gov/newsroom and follow @SelectUSA on Twitter for on-the-ground updates.

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