Archive for the ‘SelectUSA’ Category

h1

In Idaho, Rural is a Great Investment

June 9, 2017

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.

By Megan Ronk, Director, Idaho Commerce

In Idaho, we know as well as anyone what great opportunities rural America provides to businesses from across the world. From a highly skilled workforce, government support, and unmatched natural resources, more and more businesses are realizing the advantages of investing in rural states like Idaho.

During the last several years, Idaho has become home to many significant relocation and expansion projects. Chobani’s decision to build the world’s largest yogurt facility in Twin Falls raised eyebrows around the world. But the company’s decision to invest in our state, plus numerous other examples, highlights Idaho’s diverse economy, and the many ways rural America can support a variety of different businesses and industries.

  • Kochava, a leading software analytics company, chose to expand in Sandpoint, creating more than 200 new jobs and more than $100 million in new wages.
  • The Dow Chemical Company constructed a $20 million facility in Burley, generating more than $12 million in new wages.
  • Orgill, the world’s largest independent hardlines distributor, will be expanding into a distribution center in Post Falls, creating more than 130 jobs and $68 million in new wages.
  • McCain Foods USA, whose parent company is based in Canada, recently announced a substantial expansion to its potato processing plant in Burley, an expansion to the tune of $200 million and 180 new jobs. McCain is the largest manufacturer of frozen potato products in the world, and a supplier to thousands of restaurants and supermarkets across the globe

These are not only huge economic wins for Idaho, but also a perfect example of why investing in Rural America is a great business decision.

McCain’s decision to put down roots in Idaho and grow in the state has been the result of a joint effort on the part of the company’s leadership and a collaboration between local and state officials, associations, and the company.

International investments like McCain demonstrate the draw and economic opportunity of rural communities in the United States. By maintaining a business-friendly economic climate, low tax rates, reasonable regulations, access to a first-class workforce, low-cost power, and many other advantages, we expect to see continued growth and expansion in our rural communities.

If you’re a global business investor looking for your company’s next expansion location, we recommend taking a look at rural America.

Attending the SelectUSA Summit?

We are excited to participate in the upcoming SelectUSA Investment Summit, June 18-20. If you’ll be there, too, we invite you to see Idaho Lieutenant Governor Brad Little at the “Make it in Rural America” session during the SelectUSA Investment Academy. Afterwards, stop by Booth 311 in the Exhibition Hall to meet Team Idaho. We look forward to showing you what The Gem State has to offer.

h1

Finding Unique International Investment Opportunities in Montgomery County, Maryland

June 1, 2017

Guest blog post by Spiros Balntas, CEcD, Director of Business Recruitment, MCEDC

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.

Next door to the nation’s capital is a bustling business center that is building a powerful innovative base for emerging industries. With one million residents, Montgomery County is the most populous county in Maryland, and home to more than 32,000 businesses, including 227 internationally owned companies. These global companies have a major presence in the county, adding to a vibrant economic workforce in a culturally diverse and growing area.

Knowing that international companies seek out key attributes in choosing a location, Montgomery County Economic Development Corporation (MCEDC) focuses on highlighting the areas where Montgomery County gets the highest marks, and offering new opportunities for global business to grow. Some of the county’s homegrown companies have become international from this home base.

Here are examples of companies with global reach that have chosen to come into the county or expand here:

  • Choice Hotels – International company based in Rockville, MD
  • Greencourt Innovation Center – Chinese-owned company creating a green, state-of-the-art innovation center in Rockville MD
  • GSK – British pharmaceutical company, opened its first dedicated vaccines R&D center in Rockville, MD
  • Honest Tea – International sales from its Bethesda, MD headquarters
  • Marriott International – In 122 countries from its Bethesda, MD headquarters

A Highly Educated Population

Montgomery County boasts the nation’s highest percentage of adults with post-graduate degrees – 31 percent – higher than anywhere else in the country. Local colleges and universities in the county contribute to an active pipeline of skilled employees. The Universities at Shady Grove offer degree programs from nine University of Maryland institutions, and is constructing a state-of-the-art, biomedical sciences building. Meanwhile, Montgomery College’s Bioscience Education Center is a 145,000-sq. ft. complex for STEM field education and workforce development.

A Hub for Connectivity

Companies with a presence in Montgomery County, recognize the incredible benefits of our unique proximity to federal agencies, foreign embassies, chanceries and diplomatic missions. Transportation also frequently rises to the top of the list for global companies deciding on a home base. Montgomery County-based companies have three international airports to choose from, each within 30 miles: Ronald Reagan Washington National, Washington Dulles International and Baltimore/Washington International Thurgood Marshall Airport. Montgomery County is also part of the Greater Washington rapid transit system, providing easy access to the national capital area.

A Central Location for Growth Industries

Montgomery County’s industry clusters are growing in key areas including cybersecurity, biohealth and information technology. When global GSK opened its first U.S. dedicated vaccine R&D center in Rockville, the company cited Montgomery County’s location at the heart of a dynamic and cutting-edge bioscience hub in Washington, D.C. as a key factor in its decision. Many also take advantage of proximity to federal institutions including the National Institutes of Health, the Food and Drug Administration and the National Institute of Standards and Technology, among others—all headquartered in Montgomery County.

It’s not just the biohealth and cybersecurity clusters that are growing – so is the hospitality industry. Marriott Hotels, which has a long history in Montgomery County, is planning a state-of-the-art, $600 million complex in downtown Bethesda. Choice Hotels also chose to keep its Montgomery County roots in selecting Rockville for its expanding headquarters.

Opportunities for Building and Growth

Business infrastructure is in high demand, especially the need for more wet lab space for BioHealth companies. Montgomery County is planning for improvements in future land use, including zoning changes to meet long-term goals and objectives in the BioHealth Capital.

Montgomery County is poised to continue its rapid growth as a magnet for global business – and MCEDC is here to help international companies find success.

For more information, reach out to:

Spiros Balntas, CEcD
Director of Business Recruitment
Montgomery County Economic Development Corporation
spiros@thinkmoco.com
301.857.1942

h1

The U.S. Government Pavilion at the SelectUSA Investment Summit – Federal Investment Resources at Your Fingertips

May 31, 2017

 

Andrew Owusu is an Intern at SelectUSA

The 2017 SelectUSA Investment Summit provides a platform to communicate economic priorities and affirm the United States as the number one destination in the world for foreign direct investment.  Looking for U.S. economic data and analysis? The U.S. Government (USG) Pavilion in the Exhibition Hall at the Summit will feature representatives from federal agencies that can help participants find and understand U.S. economic indicators. They include:

  • The Economics and Statistics Administration (ESA) which performs high-quality economic analysis, disseminates national economic indicators   and fosters the mission of the U.S. Census Bureau (Census), the Bureau of Economic Analysis (BEA) and the Office of the Chief Economist (OCE).  OCE created the Assess Costs Everywhere (ACE) tool for businesses to evaluate locating in the U.S.;
  • The Bureau of Economic Analysis (BEA) is a trusted and impartial source of data and statistics on the U.S. economy. BEA data is comprehensive and available for free to all;
  • The U.S. Census Bureau is the leading source of data about the nation’s people and economy; The U.S. Census Bureau provides a wealth of demographic and economic data that can help potential businesses make informed investment decisions.

Looking for data specifically on FDI?  SelectUSA Stats is a public, free online data visualization tool that allows you to compare data on foreign direct investment into the United States. The tool features interactive dashboards that display graphical data. The data, from sources like BEA, includes useful categories such as greenfield investment by country, stock and flow, impacts on U.S. employment, exports, research and development; FDI trends by industry, country, and state. With a choice of multiple data agencies, attendees have numerous opportunities to pick up practical tools and strategies from expert practitioners in a variety of investment-related fields.

Officials will also be standing by to provide information on workforce and training programs, U.S. exports, supply chain, research and innovation, U.S. visas, and the Global Entry program. Below is a list of all of the federal agencies, along with their booth numbers, that are participating in the USG Pavilion.

GP1: U.S. Department of State

GP2: U.S. Citizenship and Immigration Services

GP3: U.S. Customs and Border Protection

GP6: U.S. Department of Commerce Rural Team

GP7-8: SelectUSA Stats

GP9: International Trade Administration, Industry and Analysis

GP10: Export Assistance Programs

GP11: U.S. Department of Agriculture, Rural Development

GP12: U.S. Department of Agriculture, Foreign Agricultural Service

GP13: U.S. Economic Development Administration 

GP14: Minority Business Development Agency

GP15: Bureau of Industry and Security

GP16: The Office of the U.S. Trade Representative

GP17:  U.S. Environmental Protection Agency

GP18: Export-Import Bank of the United States

GP19: U.S. Department of Transportation

GP20: U.S. Small Business Administration 

GP21: UNICOR

GP22: U.S. Department of Veterans Affairs

GP23-24: U.S. Department of Labor

GP25-26: Bureau of Economic Analysis

GP27:  Economics Statistics Administration

GP28: U.S. Census Bureau

GP29: National Institute of Standards and Technology, Manufacturing Extension Partnership

GP30: National Network for Manufacturing Innovation, Manufacturing USA

GP31-32: The U.S. Patent and Trademark Office

A number of U.S. government representatives will also be participating in the matchmaking system, so interested attendees will be able to request meetings and learn more about the various resources that the agencies offer.

We look forward to seeing you next month at the 2017 SelectUSA Investment Summit.  If you’re interested in learning more about the Summit and USG Pavilion, but unable to attend in person, SelectUSA can help you find information on federal tools and programs. Please visit our website and contact us.

 

h1

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.

 

 

h1

Looking Back at Hannover Messe and Forward to the SelectUSA Investment Summit

May 5, 2017

Kenneth Hyatt, Under Secretary for International Trade, U.S. Department of Commerce

 It was an honor to represent the United States at the largest industrial technology trade show in the world last month. It was also an inspiring look into how and why the United States continues to lead on the cutting edge of innovation and opportunity.

Hannover Messe 2017 (April 24-28, in Hannover, Germany) brought the global industrial technology industry together in one location. More than 200,000 attendees from over 60 countries got a chance to see incredible technology in action. From always-connected household devices to augmented-reality goggles, “Industry 4.0” was in full force across 27 conference halls. The United States had a prominent presence in most of these halls.

As my colleague Jason Lindesmith noted in an earlier blog post, U.S. innovation was on full display in each of the U.S. pavilions and booths. More than 220 exhibitors, representing 30 states and territories, brought American ingenuity to the spotlight through advanced robotics, smart technology, and the “Internet of Things.”

U.S. leadership in advanced technology extends beyond U.S.-based companies. German companies directly employ nearly 700,000 Americans in the United States. These companies understand that investing in the United States is not just good for their bottom lines; it’s a win for U.S. jobs.

It isn’t hard to see why German companies are bullish on the U.S. market. The United States is the top foreign direct investment (FDI) location in the world, a fact made clear by the SelectUSA Pavilion. International technology companies stopped by the pavilion and met face-to-face with economic developers from across the United States.

SelectUSA is the investment promotion program of the U.S. government. Working with economic development organizations (EDOs) and global companies looking for their next investment opportunities, SelectUSA’s team of dedicated investment specialists facilitate job-creating investment in communities across America. Once a year, SelectUSA holds the top FDI event in the country: the SelectUSA Investment Summit.

I look forward to attending this year’s Summit, June 18-20, at the Gaylord National Resort and Convention Center in the Washington, D.C. area. This event is an unparalleled opportunity for global companies, U.S. EDOs, and other stakeholders to meet under one roof to forge partnerships and hear from senior government officials, business executives, and industry leaders.

Registration is still open for the Summit, but space is quickly filling up. More than 2,000 investors from 70 international markets, economic developers from across the United States, and industry experts from around the world will be there. I hope you’ll be among them – Grow with us by applying for registration.

h1

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.

h1

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    

 

tabel1

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

 

table2

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.

chart

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.