Archive for the ‘SelectUSA’ Category

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SelectUSA Investment Academy – New Pathways to Investment Promotion Success June 18, 2017

May 9, 2017

By Elena Volkava, Intern, SelectUSA

 The 2017 SelectUSA Investment Summit (June 18-20) is next month! This one-of-a-kind event brings together more than 2,000 attendees enabling international businesses to find the people, the resources, and market opportunities in the United States.

 Are you considering an investment in the United States or looking for new ideas to guide your economic development strategy? SelectUSA offers a half-day interactive program – the Investment Academy – with more than 20 workshops. With a focus on practical information and best practices, these workshops are designed specifically to answer questions about establishing and maintaining successful business operations, or attracting high-impact investment, in the United States. Sessions are designed for a more intimate and engaging setting, and include dedicated time for questions and answers.

What’s New in 2017?

Open to All Participants

For the first time, the Investment Academy is open to all Summit participants with full-access passes at no additional cost. Take advantage of this opportunity to learn from expert practitioners and representatives of international companies, state and local governments, and economic development organizations (EDOs) and apply best practices to enhance your organizations and build new partnerships.

Expanded Topics and Sessions

With choices of multiple concurrent sessions, investors are given opportunities to learn about practical tools and strategies for selecting a location, the U.S. regulatory environment, and a wide range of legal protections. For companies looking to expand operations in the United States, a special workshop will use a case study approach to illustrate the business investment decision-making process around a U.S. manufacturing expansion. In addition, EDOs will learn how relationships at different levels can facilitate the site selection process, workforce development, financing, marketing and public relations.

 Federal Government Spotlight

Don’t have a lot of time? In addition to regular Investment Academy programming, we are excited to introduce 30-minute informational sessions from the following eight U.S. government agencies, specifically geared towards investors and EDOs. Learn more about the agencies before you arrive by clicking on the following links:

More Networking Opportunities

With expanded exhibition hall hours on Sunday and a mid-afternoon ice-cream social, there are more opportunities than ever for smaller-group networking during the Investment Academy. At the end of the day, the Summit welcome reception provides the perfect opportunity to wrap up, network further, and look ahead to what’s next.

Now is the time to take advantage of this unique opportunity to interact with peers and experts and apply best practices to enhance your organization, develop new partnerships, and build new pathways to success.  Register or learn more at www.selectusasummit.us.

 

 

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AIMing for a Stronger Economic Partnership between the United States and the UAE

April 27, 2017

Micah Escobedo is a Communication Specialist at SelectUSA, a Program within the Department of Commerce’s International Trade Administration.

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

Earlier this month, SelectUSA and the U.S. Commercial Service hosted the inaugural SelectUSA Investment Pavilion at one of the largest investment events in the world – the Annual Investment Mission (AIM) in Dubai, United Arab Emirates (UAE).

AIM is an increasingly important investment platform in one of the most rapidly developing regions on the planet. Hosted by His Highness Sheikh Mohammed Bin Rashid Al Maktoum – the Vice President of the UAE and Prime Minister and Ruler of Dubai – AIM attracts investors from around the Persian Gulf.

On April 2-4, the UAE-based SelectUSA team was joined by economic developers from the states of Missouri and Virginia, and the cities of Columbus, Ohio, Los Angeles, St. Louis, and Kansas City, Mo..

The days went by quickly in Hall 5 of the Dubai World Trade Centre. Hundreds of business investors stopped by the pavilion to see what the United States has to offer. In fact, the SelectUSA in the UAE secured more than 30 meetings between U.S. economic developers and international investors (and there are already several strong leads for follow up). Additionally, U.S. Consul General Paul Malik hosted a networking reception at his residence for the U.S. delegates and nearly 20 investors from across the Gulf region.

Whether the SelectUSA team is talking with Emirati business executives or representatives from an SME from another part of the world, promoting the United States as the place to grow a business isn’t difficult. The United States is widely known as the world’s most attractive consumer market, offering unmatched diversity, a thriving culture of innovation, and one of the most productive and skilled workforces. With a GDP of more than $18 trillion, the United States is the largest single market in the world, and we are consistently ranked as the world’s top business investment destination.

FDI is a key pillar in the U.S.-UAE economic relationship. Between 2012 and 2014, U.S. FDI in the UAE skyrocketed by more than 76 percent to $15 billion. At the same time, UAE FDI in the United States jumped nearly 34 percent to $27.6 billion. This mutually beneficial partnership creates jobs, spurs innovation, and leads to more diversified markets in both countries. In 2014 alone, almost 13,000 Americans were employed by majority-Emirati owned firms.

The United States welcomes investors from the UAE and around the world, and we are glad we could be a part of AIM in 2017.

Another event we are excited about is the SelectUSA Investment Summit, the premier FDI event in the country, which will bring the diversity of the United States together under one roof – enabling any business to find the people, the resources, and the market it needs to be successful. This year’s Summit is just a couple months away – June 18-20. For more information, please visit www.selectusasummit.us.

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European FDI in the United States

April 19, 2017

Michael Jarand is an Investment Analyst in the International Trade Administration’s SelectUSA Program.

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

Hannover Messe – the world’s leading industrial technology trade show – is quickly approaching and SelectUSA will be in attendance! As outlined by Jana Dorband in a previous blog post, Hannover Messe is a great opportunity to interact with thousands of potential investors.

In light of Europe’s longstanding role as a top investor in the United States, here are some highlights from Bureau of Economic Analysis (BEA) data on foreign direct investment (FDI) from the region.

European FDI is Large and Growing    

 

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Table 1: European FDI in the U.S. (in billions of dollars)

The latest available 2015 BEA data show a continued strong investment relationship with European investment partners. European FDI totaled $1.92 trillion in 2015, accounting for 61.2 percent of total foreign investment into the United States. Despite the fact that Europe’s total share of FDI into the United States shrank from 63.4 percent to 61.2 percent — reflecting the growing role Asian markets play in global investment — European FDI was $375 billion higher in 2015 than 2011.

The five European countries with the most investment in the United States by ultimate beneficial owner (UBO) are the United Kingdom ($569 billion), Germany ($319 billion), France ($251 billion), Ireland ($200 billion), and Switzerland ($144 billion).

European Investment Greatly Benefits the US Economy

 

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Table 2: European investment impact, 2014

Employment

In 2014, FDI from majority European-owned firms was responsible for 4.1 million direct jobs in the United States, about 65 percent of the total FDI-supported jobs. Like the FDI jobs previously discussed in this blog, these are high-impact jobs with an average annual compensation of $81,235.

Research and Development (R&D)

European firms are the largest foreign spender on research and development (R&D), enhancing U.S. global competitiveness. In 2014, U.S.-based affiliates of majority foreign-owned firms spent nearly $57 billion on R&D activities in the United States. Of this amount, $42 billion came from European firms, making up nearly 74 percent of the total.

Exports

Linkages between trade and investment also show up in European FDI. Exports of goods shipped by majority foreign-owned affiliates increased in 2014 to more than $425 billion. European firms made up $228 billion of this amount, almost 54 percent of the total.

European Multinationals Are Embracing Investment as an Alternative to Exporting

As outlined above, European investment is obviously beneficial to the U.S. economy – providing capital, high paying jobs, R&D spending, and exports. Investment is also beneficial for European firms, whose affiliate sales in the US make up a large part of their global portfolio. Increasingly, it appears that foreign direct investment and sales via affiliate companies is becoming the main mode of transatlantic business.

As shown in Figure 1, from 1999 to 2014, both U.S. imports of goods and services from the EU and sales of EU country-owned affiliates more than doubled. Imports of goods and services went from $270 billion to $595 billion, while EU country affiliate sales went from $947 billion to more than $2 trillion. If this trend continues, cross-border investment will continue to outpace traditional exports and imports.

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Figure 1: EU Country Affiliate Sales and U.S. Imports of Goods and Services from EU

What’s Next?

Come visit us at Hannover Messe in the U.S. Investment Pavilion in Hall 3, from April 24 – 28th. We look forward to meeting you, and will be available for walkthroughs of SelectUSA client services and data tools!

This and other data are available in our SelectUSA Stats data visualization tool, including data by state and by industry. A national level overview of FDI data is available on the SelectUSA website along with updated country and state factsheets.

For more information on FDI data and SelectUSA services, please send an email to info@selectusa.gov.

 

 

 

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Global CEOs Continue to Show Confidence in the United States as a Business Destination

April 18, 2017

Fred W. Volcansek, Sr., is the Executive Director of the U.S. Department of Commerce’s SelectUSA Program.

For the fifth year in a row, global business executives have named the United States as the top destination for business investment, according to A.T. Kearney’s Foreign Direct Investment (FDI) Confidence Index.

This is excellent news, because FDI creates jobs and contributes to economic development across the United States. It is a direct reflection of the appeal of the U.S. economy and how it enables businesses of any size to access a consumer base of 325 million citizens, employ a productive workforce, and take advantage of a culture of innovation.

As excited as I am to share this great news from A.T. Kearney, I’m more excited about what is to come as we create an increasingly business-friendly environment in the United States. As the Trump administration establishes pro-growth policies including trade reform and tax simplification, I expect CEOs to show even more recognition of the promise of investing in the United States.

As businesses continue to target the United States as the launch pad for global growth, our SelectUSA team will be there to support through services such as market research, counseling, and navigating the federal regulatory environment. There is no program better positioned to support economic growth in the United States than SelectUSA.

For companies considering their next investment destination, and for economic development teams looking to attract job-creating business investment, there is no better place to connect than the SelectUSA Investment Summit in June. The actions we are taking to create a period of economic revival in the United States will be on full display, as will many of the nation’s top investment opportunities.

I hope you will join us at the Summit to find growth opportunities and learn about why the United States continues to be a great place to invest.

My thanks to all the organizations and entities that support economic development throughout our great nation, helping make the United States such an appealing business location. Let’s continue to work together to create opportunity for workers and businesses across America.

 

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Companies from 15 Countries Expanded in Oakland County, Michigan in the Metro Detroit Region in 2016

April 13, 2017

More than 40 percent of total job-supporting investment came from foreign-owned firms.

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.

Located in the heart of the Metro Detroit region, Oakland County, Michigan, has long been a community open and inviting to foreign direct invest (FDI) from around the world. This investment supports nearly 6.4 million U.S. jobs, and over 200,000 jobs in Michigan, making it a great driver of growth in our state.susa

FDI has traditionally come from the automotive industry, with 75 of the top 100 global tier 1 automotive suppliers making Oakland County their North American home. Now with the mobility movement and the exciting autonomous vehicle technology being developed here in the region, Oakland County is seeing companies from new technology sectors looking to locate into our community.

Today, new FDI is coming from multiple sectors, including:

  • Automotive / Mobility;
  • Healthcare technology;
  • Information technology;
  • Defense; and
  • Advanced / Light-weighting materials sectors.

Our county is home to over 1,000 foreign-owned firms from 39 countries, which could easily compare to many U.S. states. Last year we saw companies from these 15 countries make our community their home or expand their operations here:

Australia                Germany                Japan                           Norway

Canada                   India                       Korea                           Spain

China                      Ireland                   Mexico                         Switzerland

France                    Italy                        Netherlands

Having had a strong FDI strategy for over 20 years, we have gotten to fully understand what companies need in order to be successful in the USA, and we give the companies a chance to “try us out” before making a commitment. Our International Business Center (IBC) at Automation Alley (the region’s technology consortium) and the OU Inc business incubator at Oakland University are both Certified International Soft Landing Centers. Businesses can locate here for three months free of charge while they test out the U.S. market and the Oakland County location. My team and I work with them on building their business in our region and making important connections for them in their industry, helping them understand what we already know: that there’s no place better to invest than the United States.

Michigan has a great business case for all companies, including a talented workforce, great business support, and a diverse economy. When you look at the technology that comes out of Oakland County, it’s no wonder the US Patent office opened its second location in our region. Technology and innovation are clearly seen in every industry here in Southeast Michigan.

The great success we have had in our FDI work has created numerous benefits for the community. Not only do foreign-owned firms create thousands of jobs in the region and help grow our economy, the new investments have also helped bring various cultural assets to our community. These include several dynamic ethnic business chambers, including:

  • Sweden American Chamber of Commerce;
  • Irish American Chamber of Commerce;
  • German American Chamber of Commerce;
  • French American Chamber of Commerce;
  • Italian American Association of Business & Technology (IAABT);
  • Japanese Business Society of Detroit; and
  • Detroit Chinese Business Association.

We have the largest Japanese School in the United States, one of the most prized Chinese art collections, top rated French and German schools, and we have one of the largest bocci ball stadiums in the world for our Italian residents. These cultural assets are imperative to the quality of life for all our residents.

SelectUSA has been a great partner of ours in our FDI success. From the online tools available to us, to the SelectUSA staff that specialize in different regions of the world, we rely on our partners regularly. We work with them closely to understand the markets we are interested in and to help us successfully recruit investment from those markets. The SelectUSA Investment Summit is a “must attend” event for us. In the last two years, we’ve gotten over 10 leads and 4four successes from our participation. We’ll be there again in 2017, and we hope to see you there!

For information on Oakland County, Michigan, contact us at Info@advantageoakland.com or through our website: www.AdvantageOakland.com

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SelectUSA Delivering on the Promise to Create Jobs

April 11, 2017

Fred W. Volcansek is the Executive Director for the Department of Commerce’s SelectUSA Program.

It is my great honor to serve the American people – and the business investors who support job creation across the nation – as the Executive Director of SelectUSA, a program that I see as among the most exciting in the U.S. government.

Secretary of Commerce Wilbur Ross said on his first day in office that the United States is entering a period of economic revival. Our team at SelectUSA will be on the forefront of this revival—working to attract business investment in the United States and create opportunities for American workers.

SelectUSA has an incredible impact on U.S. economic development, having facilitated more than $23 billion in client-confirmed business investment and creating or retaining tens of thousands of U.S. jobs. It is a mission I am proud to lead as part of the Trump administration.

This administration has repeatedly made its focus on jobs clear. Few programs, agencies, or policies in the U.S. government support that focus better than SelectUSA. Attracting business investment will be a crucial element to putting more Americans to work; investment from global businesses already supports 12 million direct and indirect U.S. jobs.

SelectUSA will recruit business investors around the world, connect them to promising growth opportunities in the United States, counsel them through the startup of operations, and provide after care to ensure their success. We will be a crucial partner to economic development teams as they market their regions to international businesses.

I am particularly excited about the annual SelectUSA Investment Summit in June. My career has included leadership of multiple high-profile events, and I look forward to leading the Summit as we host thousands of global business investors and U.S. economic development teams. I hope you will consider joining us there to learn about why the United States will be an even better investment destination.

To our economic development partners around the United States, I look forward to meeting and working with all of you to support job creation and business growth across our great nation.

For the international businesses that are considering investing in the United States, I encourage you to contact our team at SelectUSA. Let us help you strategize, connect to the right data, and find the best opportunities to help your business grow. Now is the time for you to make investing in the United States a part of your global growth strategy.

I’d like to thank President Trump and Secretary Ross for this opportunity to serve the American people and to work with the team at SelectUSA. Together, we will meet the challenge to help create opportunity across America.

 

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Professional Football as the Jacksonville Region’s Gateway to Foreign Direct Investment

April 6, 2017

Jerry Mallot is the President of JAXUSA Partnership, Northeast Florida’s regional economic development organization (EDO) based in Jacksonville. Learn more about the organization at JAXUSA.org.  

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.

A unique coordination between a National Football League franchise and a regional economic development group is supporting hundreds of U.S. jobs in Northern Florida.

In 2013, Jacksonville Jaguars football team owner Shahid Khan committed the franchise to playing a home game in London every year. We at JAXUSA pounced (like a jaguar, naturally) on what we saw as a great opportunity to leverage the football team’s international outreach for local economic development purposes. In partnership with the Jaguars, JAXUSA launched annual economic development missions to the United Kingdom to help initiate and build long-term relationships with international companies and organizations.

Those missions are already paying off for Jacksonville; here are just a few examples:

  • Greencore, an Ireland-based food-preparation company, established operations in Jacksonville, creating hundreds of jobs in our region. These operations continue to grow.
  • City Refrigeration, based in Scotland, selected Jacksonville for its North American headquarters, creating 110 new Florida jobs. The company operates around the world with more than 12,000 employees and is the largest privately-held facilities management company in the United Kingdom and Australia.
  • Resource Solutions, an international recruiting services firm, opened a global service center in Jacksonville, adding 75 skilled jobs. The London-based company, which provides outsourcing solutions for many of the world’s leading brands, is seeking to grow its operations in the United States. And as the company’s U.S. market share grows, so will its operations in Jacksonville.

Foreign direct investment (FDI) from the U.K. and other global locations is a vital part of the Jacksonville region’s overall development and sustainability strategy. Companies from more than 26 countries call the city home, supporting thousands of jobs in the Jacksonville area. Our investment missions, the dedication of JAXUSA investment specialists, and partnerships with organizations like SelectUSA help Jacksonville continue to grow as a global destination for business.

As for the coordination with the Jacksonville Jaguars? Our NFL-inspired U.K. FDI missions help us tell our story to a larger global audience. These missions help us connect with top company leaders and work toward bringing jobs and economic growth to the Jacksonville region. They also add a higher profile to our presence overseas and open doors to new investment opportunities.

Jacksonville is a competitive player in the global marketplace and as we continue to attract more international companies to our region, we strengthen our attractiveness to companies around the world. But the ultimate (field) goal is always creating jobs through investment that makes a real impact on our communities.