Archive for the ‘SelectUSA’ Category

h1

International Economic Development Council Partners with SelectUSA

June 13, 2016

Mr. Barry Matherly, CEcD, FM, is the 2016 Chair of the International Economic Development Council, and the President and CEO of the Greater Richmond Partnership in Richmond, Virginia.

As Chairman of International Economic Development Council’s (IEDC) Board of Directors, I am very pleased to attend the 3rd SelectUSA Investment Summit this summer. Since 2011, SelectUSA has facilitated more than US$19 billion in foreign direct investment (FDI) in the United States, creating and retaining thousands of jobs while continuing to spur economic growth and promote American competitiveness. Last year’s Investment Summit was especially remarkable, welcoming 2,600 participants from more than 70 international markets and 500 economic development officials from across the United States. Since March 2015, participants have already announced approximately $5.5 billion in new American investments and supporting more than 9,000 American jobs. IEDC has always appreciated the partnership it shares with SelectUSA, as we jointly build a collaborative platform for federal and state economic development officials and establish a better understanding of the role EDOs play in securing FDI.

Logo

International Economic Development Council celebrates 90 years of service

With SelectUSA, EDOs now have an advocate at the national level that helps attract, retain, and grow investment in the United States by coordinating a platform for international marketing and high-level advocacy to assist economic developers’ efforts in competing globally for investment. Together, these efforts stimulate FDI flows into our nation by allowing foreign investors to develop stronger relationships with American economic developers.

Improving the economic well-being and quality of life for a community through job creation and retention is one of the main objectives of EDOs. Our partnership with SelectUSA strengthens the ability of EDOs to attract FDI to their communities by developing and promoting awareness of regional assets, identifying investor leads, establishing relationships between EDOs and foreign investors, and reinforcing the local supply chain by connecting investors with small businesses and other service providers in their communities. Because of this, EDOs are in part responsible for contributing to the creation of 12 million direct, indirect and spillover jobs that arise from FDI. That accounts for 8.5% of total American labor force.

IEDC is the premier organization for economic development practitioners, with over 4,800 members, that has always been on the leading edge of economic development practice and research. IEDC actively supports FDI attraction by offering an ever increasing number of conferences and events, as well as enhanced partnerships with partner organizations and federal agencies. I am excited to be part of IEDC’s initiatives as we help open the doors to expanded opportunity. This is why I designate 2016 as the Year of Economic Developer, to coincide with IEDC’s 90th anniversary. Join us as we celebrate the achievements of economic developers and recognize the efforts of development professionals in all corners of the world.

I would like to further highlight the importance of EDOs in securing FDI in my home state of Virginia. We have more than 700 internationally owned companies, including Canon and Rolls-Royce. And since 2014, more than 160 economic development deals have been closed in Virginia that will create more than 13,806 jobs and over $4.2 billion in capital investment. Our EDOs are also making a strong play for Chinese investment. Last year, Shandong Tranlin Paper Co., Ltd., a Chinese paper manufacturer, announced plans to invest $2 billion with a pledge to create 2,000 jobs to establish its first U.S. advanced manufacturing operation in Chesterfield County. This investment represents the largest one of Chinese greenfield project in Virginia and the United States.

I would like to extend a very warm thank you to Secretary of Commerce Penny Pritzker, Under Secretary of Commerce Stefan M. Selig and the Executive Director of SelectUSA Vinai Thummalapally for their leadership, remarkable work with the business community, their investment promotion labours and their acclaimed efforts in expanding growth and opportunity for all Americans. My best wishes to all attendees for a great Summit.

h1

SelectUSA Investment Summit Spotlight: U.S. Foreign Direct Investment (FDI) & Economic Data and Statistics

June 8, 2016

This post originally appeared on the Department of Commerce blog.

Guest blog post by Leeann Ji, Intern, SelectUSA

The United States welcomes foreign investment, and the numbers show that investors have confidence in the opportunities here. With a population of 320 million and a GDP that’s over $18 trillion, our nation is home to more foreign direct investment (FDI) stock than any other country: $2.9 trillion as of 2014. The U.S. affiliates of foreign companies directly employ 6.1 million people in the United States, and they spent $53 billion on American research and development in 2013.

FDI graphic

Graphic on U.S. Jobs Attributable to Foreign Direct Investment (FDI)

These numbers paint the big picture and America’s Data Agency, the U.S. Department of Commerce, provides a wide range of data that companies looking to invest in the United States need to inform their decision-making strategies.

Looking for U.S. economic data and analysis? The U.S. Government Pavilion in the Exhibition Hall at the 2016 SelectUSA Investment Summit will have 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 Commerce Data Service, which works across all Bureaus of the Department of Commerce to rapidly create and develop projects to advance the Department’s mission. The CDS is a team of data engineers, data scientists and technologists focused on applying user-centered design and agile methodologies to the process of data insight and product creation.  

Looking for data specifically on FDI? The new SelectUSA Stats is a data visualization tool that allows you to compare data on 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, U.S. FDI position and flow, and the characteristics of foreign companies operating in the United States.

Learn how to use this new tool! Sign up today for a free webinar on June 14, 2016. Two times are available: 12:00 p.m. or 8:00 p.m. EST. To register, please contact Micah Escobedo.

Looking to invest or find tools to help you attract investment? If you are coming to the SelectUSA Investment Summit, be sure to stop by the U.S. Government Pavilion, located across the lobby from the Exhibition Hall. If you aren’t able to attend in person, we are standing by to assist all year round. Please visit www.SelectUSA.gov and contact us to learn how we can help investors and U.S. economic development organizations with business investments in the United States.

Together, our colleagues work to ensure users have access to timely and reliable economic information to move their investments forward. We look forward to working with you!

h1

SelectUSA Investment Summit Spotlight: The U.S. Government Pavilion

June 6, 2016

Felicia Pullam is the Director of Outreach for SelectUSA.

The 2016 A.T Kearney Foreign Direct Investment (FDI) Confidence Index surveyed global executives about their plans for foreign investment, and they ranked the United States at the top for the fourth year in a row. A.T. Kearney also asked executives to identify the two most important factors for deciding where to establish or expand their businesses. “Regulatory transparency and lack of corruption” tied for first place with the size of the domestic market and the cost of labor; each factor was chosen by 15 percent of respondents. The “efficiency of legal and regulatory processes” was just a few points behind at 13 percent.

Secretary Perez

Secretary Perez visits DOL’s ‘Apprenticeship USA’ booth last year in the U.S. Government Pavilion

The United States is a stable democracy with a transparent and predictable legal system, and we offer an even playing field to businesses operating within our borders, regardless of country of origin. Ranked in the top ten overall for ease of doing business by the World Bank, the United States ranks first among nations with populations over 100 million. When companies locate operations here, they find an environment that is friendly to businesses because we understand that FDI creates jobs, drives exports, and contributes to innovation. An estimated 12 million American jobs can be attributed to FDI through direct employment, sourcing, productivity growth, and other economic effects.

While the U.S. system is considered to be among the most transparent, we recognize that learning how to navigate a new regulatory system can be challenging for first-time investors or small and medium-sized businesses. SelectUSA assists companies to find the answers they need to move their investments forward by working with more than 20 U.S. federal agencies through the Interagency Investment Working Group. At the 2016 SelectUSA Investment Summit, participants will have the opportunity to meet with representatives from these federal agencies in person.

If you are coming to the SelectUSA Investment Summit, be sure to stop by the U.S. Government Pavilion, located near the Exhibition Hall. Representatives from SelectUSA and a wide variety of other agencies will be available to discuss federal programs and services. You will find experts who can walk you through data on the economy, population, and FDI trends. 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.

The following agencies and offices are looking forward to meeting you:

If you aren’t able to attend the SelectUSA Investment Summit, we are standing by to assist all year round. Please visit www.SelectUSA.gov and contact us to learn how we can help investors and U.S. economic development organizations with business investments in the United States.

We look forward to seeing you at the 2016 SelectUSA Investment Summit or online!

 

 

h1

SelectUSA.gov Redesigned: A “First Stop” for Companies and Economic Development Organizations

June 6, 2016

This post originally appeared on the Department of Commerce blog.

Guest blog post by Genilson Brandao, Senior Communications Specialist at SelectUSA

Earlier today, SelectUSA launched our newly redesigned website, SelectUSA.gov. The new website was developed as a “first stop” for our clients – companies seeking information about investing in the United States and economic development organizations (EDOs) looking to attract investment to their communities – to provide keyforeign direct investment (FDI) data, resources, and news and updates.

SUSA Website

Graphic of the Newly Redesigned SelectUSA Web site

In addition to a new design and fresh content, the newest feature is SelectUSA Stats, an investment data tool that will enable users to effortlessly access, understand and manipulate FDI data. The data visualization functionality will help site visitors see and compare the useful statistics in new ways. Interactive dashboards display graphical data on direct investment by foreign companies into the United States from sources like the U.S. Bureau of Economic Analysis (BEA). The data categories include U.S. FDI position and flow, FDI in the United States by country, employment, characteristics of foreign firms operating in the country, greenfield investment by country, and venture capital and private equity country attractiveness scores.

Additionally, the SelectUSA.gov site highlights the benefits and advantages of investing in the United States. In the “Why Invest” section on the website, users can find facts and information, and can explore the many reasons that make the United States a top investment destination. Fromconsumer markets to innovation and workforce, site users can build their case for investing in the United States. Visitors can also get an overview of thriving U.S. industries, federal programs, and state business incentives to identify opportunities to move their investments forward.

SelectUSA continues to offer a variety of services to companies and EDOs to help them find answers to their investment questions. Similarly,SelectUSA events like road show and seminars and special events, gives the opportunities for foreign investors and EDOs to connect.

The launch of the new and upgraded SelectUSA.gov is a step toward better user experience and engagement with all audiences seeking to learn about the importance of FDI as well as investing and attracting investment into the United States.

To discover and explore the new website, visit www.selectusa.gov, and share your feedback via  email or tell us in person when you stop by the U.S. Government Pavilion at the upcoming 2016 SelectUSA Investment Summit!

h1

Let the Countdown Begin: 2016 SelectUSA Investment Summit

May 23, 2016

Felicia Pullam is the Director of Outreach for SelectUSA.

The countdown to the 2016 SelectUSA Investment Summit begins today! In four weeks, June 19-21, President Barack Obama will welcome economic developers from across the country and companies from around the world to Washington, D.C. The SelectUSA Summit is the highest profile event to promote job-creating foreign direct investment (FDI) in the United States.

SelectUSA 2016 Investment Summit

SelectUSA 2016 Investment Summit

Registration for the Summit will reach capacity soon. In fact, the pre-Summit SelectUSA Academy is already oversubscribed. If you are thinking about attending this year’s Summit, don’t hesitate to apply.

Why are so many people planning to travel from roughly 60 countries to attend this year’s Summit? Because business representatives are looking for a place where they can establish or expand their operations. They recognize what many others have seen: there is no better time than now to invest in the United States.

Earlier this month, AT Kearney released its annual FDI Confidence Index, which showed that global executives ranked the United States as the top destination for FDI for the fourth year in a row. The U.S. lead widened: “Bullish sentiment among global business executives on the economic outlook for the United States reinforces this trend. More broadly, executives’ outlook on the U.S. economy is considerably more positive today than it was in 2015.”

With more than $2.9 trillion in stock, the United States is home to more FDI than any other country. For nine of the past 10 years, the United States attracted the largest amount of FDI inflow. And this investment is important to our economy: approximately 12 million jobs in the United States can be attributed to FDI. The scale of investment shows a consistent recognition among investors that the U.S. market — and the American workforce — offers quality, innovation, and opportunity.

That’s exactly what participants will find at the 2016 SelectUSA Summit, where they will be able to explore opportunities from every corner of the nation—all in one building—through four types of activities:  

  • On Sunday, June 19, the SelectUSA Academy will include sessions designed for first-time investors and economic developers;
  • Plenary and breakout sessions on June 20-21, will feature high-level government and business speakers;
  • The exhibition hall will provide U.S. economic developers with an unparalleled opportunity to showcase their locations to some of the world’s top companies; and
  • An improved, online matchmaking system will enable investors, economic developers and others to connect directly and meet face-to-face.

The team at SelectUSA stands ready to help you get the most out of the Summit. Housed within the U.S. Department of Commerce, SelectUSA assists U.S. economic development organizations to compete globally for investment by providing information, a platform for international marketing, and high-level advocacy. SelectUSA also helps investors find the information they need to make decisions; connect to the right people at the local level; navigate the federal regulatory system; and find solutions to issues related to the federal government.

From established multinationals to small or medium-sized enterprises and high-growth startups, companies of all sizes can find the location, the people, and the resources they need to be successful in the United States. There is still time to register for the Summit. Visit selectusasummit.us and apply to attend today!

 

h1

It’s Economic Development Week!

May 12, 2016

Vinai Thummalapally is the Executive Director of SelectUSA.

Every day, economic developers across the United State work to create, attract, and retain jobs in their local communities. This week, the International Economic Development Council (IEDC) is leading Economic Development Week to thank economic developers for their contributions to economic growth and the quality of life in their regions.

EconWeek

Celebrate Economic Development Week

SelectUSA works with these economic developers to help them attract foreign direct investment (FDI), and in the process, we see just how hard they work. They are often at it for long hours, stretching across multiple time zones. They’re on their feet for days, pitching people at trade fairs and patiently answering questions. We saw this most recently at Hannover Messe, as more than 90 U.S. economic development organizations (EDOs) worked incredibly hard to find the right leads among more than 200,000 attendees. Then, they painstakingly follow up, business card by business card, for months and sometimes years, with potential investors.

When an investment deal is close, they put the extra time in to make sure it gets across the finish line. Just last week, we saw this with the team from the Brownsville Economic Development Council. One day they were meeting with prospects in Hannover, Germany, and the next they were back home preparing to announce a $114 million investment they had been working on since 2014.

It’s at those moments — when the investments are announced, when the companies start hiring, when the ribbons are cut and the workers are on the job — that we see just how much the work of economic developers means to individuals and their families.

FDI creates jobs. In fact, an estimated 12 million U.S. jobs can be attributed to foreign direct investment. FDI contributes to American innovation and helps drive exports: the U.S. affiliates of foreign companies spent $53 billion on U.S. research and development and exported more than one fifth of total U.S. goods exports in 2013 alone. Thanks in part to the work of economic developers, the United States remains the largest recipient of FDI in the world.

This week is also an opportunity to note an impressive milestone. Congratulations to IEDC on their 90th anniversary. They have worked hard, over many years, to give a powerful voice to the economic development community. They have shown leadership through practical and forward-thinking training. And they have brought economic developers together, to share best practices and keep American communities competitive.

Join in the discussion and join us in thanking our nation’s economic developers online by tweeting to #EconDevWeek!

Learn more about SelectUSA: Housed within the U.S. Department of Commerce, SelectUSA promotes and facilitates business investment into the United States. SelectUSA assists U.S. economic development organizations to compete globally for investment by providing information, a platform for international marketing, and high-level advocacy. SelectUSA helps investors find the information they need to make decisions; connect to the right people at the local level; navigate the federal regulatory system; and find solutions to issues related to the federal government. For more information, visit www.selectusa.gov.

h1

USA Continues to Attract Business Investment: Congratulations to SATA USA and Brownsville, TX

May 4, 2016

By Arun Kumar, Assistant Secretary of Commerce for Global Markets and Director General of the US and Foreign Commercial Service

This is a great time to invest in American manufacturing. Yesterday, AT Kearney announced that the United States ranked first for the fourth year running in its annual Foreign Direct Investment (FDI) Confidence Index. Last week, President Barack Obama and Commerce Secretary Penny Pritzker led the largest ever U.S. delegation to Hannover Messe, the world’s leading industrial manufacturing trade fair. As of April 1, the manufacturing sector has added 838,000 jobs during the past 73 months. And today, SATA USA has announced that it will create more jobs in Brownsville, Texas to add to that number.

SATA USA

Assistant Secretary Kumar congratulates Brownsville Mayor Tony Martinez and SATA USA Co-Owners

I was thrilled to personally congratulate Brownsville and thank SATA USA’s president, Pietro Cinotto, when he announced that the company would invest $114 million in a machining operation that will create 300 jobs over a 10-year period. This investment demonstrates the continued competitiveness of American manufacturing, the role of foreign direct investment (FDI) in job creation, and the benefits of our commercial relationship with Mexico.

SATA Group is a family-owned business headquartered in Valperga, Italy. Founded more than a century ago, this will be its first manufacturing facility in North America. Roughly 12 million jobs across the country are attributable to FDI, and 124,700 U.S. workers are directly employed by the U.S. affiliates of Italian-owned firms. In 2013, European companies like SATA exported $204 billion worth of goods from the United States.

Supplying both the automotive industry and the heavy equipment manufacturing sector, SATA USA expects to export many of its products, adding to the $1.5 billion worth of goods that cross our border with Mexico each day. In August 2015, Secretary Pritzker was joined by her Mexican counterparts to inaugurate the West Rail Bypass International Bridge in Brownsville – the first new international rail crossing between the U.S. and Mexico in 105 years – which is making it easier for companies based in the United States to reach customers in Mexico.

We first learned about SATA’s interest in the United States a couple of years ago, when our SelectUSA team was invited to a meeting in Congressman Filemon Vela’s office with Brownsville Mayor Tony Martinez and Jason Hilts, head of the Brownsville Economic Development Council (BEDC). They wanted to brief SelectUSA on a potential investment project, codenamed “Project Sizzle,” and to request our assistance.

SelectUSA is the federal government program to promote and facilitate job-creating FDI into the United States. Working with colleagues throughout the U.S. and Foreign Commercial Service, SelectUSA assists U.S. economic development organizations like BEDC and foreign companies like SATA Group that are considering expanding or establishing operations in the United States.

Working closely with Brownsville and the U.S. Commercial Service in Italy, our team coordinated advocacy efforts by SelectUSA Executive Director Vinai Thummalapally, U.S. Ambassador to Italy John Phillips, and Secretary of Commerce Penny Pritzker. Through this process, we have had the pleasure of witnessing how hard the BEDC team worked to make the case for Brownsville, bringing together stakeholders from the local community, the university and community college systems, and the State of Texas. SATA considered Brownsville’s connectivity, access to raw materials, growing supplier base, and availability of labor when deciding whether to locate in the United States.

The new facility will serve as an anchor for the planned North Brownsville Heavy Manufacturing Campus, which is an ambitious 350-acre development that will integrate private enterprise, the public sector, the university system, and community college/technical training facilities.

Congratulations and best wishes to the teams in Brownsville and Valperga. We look forward to your success, and to seeing BEDC at the 2016 SelectUSA Investment Summit in June!

Resources: Brownsville Economic Development Council’s press release is available on their website. An article that details SelectUSA’s involvement is available at the Rio Grande Guardian. To learn how SelectUSA can help your community to attract international investment or assist your company to establish or expand in the United States, visit www.SelectUSA.gov.

Follow

Get every new post delivered to your Inbox.

Join 756 other followers