Archive for the ‘SelectUSA’ Category

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From Interaction to Investment: Tools for Success in the U.S. Market

August 29, 2017

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

By Max Goldman, Intern, SelectUSA

2017 SelectUSA Summit show floor.

2017 SelectUSA Summit show floor.

At this summer’s SelectUSA Investment Summit (June 18-20, 2017), business investors from around the world and representatives from U.S. economic development organizations (EDOs) came to the Gaylord National Resort and Convention Center for three days of learning, networking, and business deals. This year’s Summit may be over – but new investment opportunities are just beginning.

Stay Informed About Federal Government Agencies and Programs

At the Summit’s U.S. Government Pavilion in the heart of the Exhibition Hall, representatives of the Federal Interagency Investment Working Group (IIWG) were onsite to introduce available Federal resources and answer participants’ questions. At chair of the IIWG, SelectUSA can help investors and EDOs access information, navigate U.S. government regulations, and get the support they need to succeed. In the meantime, check out:

  • SelectUSA’s Federal Programs and Incentives Database, a searchable guide to programs and incentives that are designed to support businesses in the United States; and
  • Our growing offering of Online Tools, including SelectUSA Stats, which draws from multiple databases to help users visualize data on multiple aspects of investment, including specific countries and industries.

These helpful tools and more can be found on SelectUSA’s website.

Stay Connected

Every year, matchmaking is one of the most popular Summit activities. This year, participants packed meeting areas from morning to night and even continued to meet after the Summit wrapped up. Even with three full days of networking, it was almost impossible to connect with economic developers from 51 U.S. states and territories. Deepen your connections or reach out to new ones through two helpful PDF resources:

Not sure where to get information or to whom you should reach out next?  SelectUSA can help. SelectUSA assists businesses of all sizes with navigating the U.S. market and regulatory environment, and provides EDOs with information on global markets and support with trade and investment promotion.  Visit our website to identify your relevant portfolio manager by international market or U.S. state and territory, and contact us today!

Be sure to follow us on Twitter and LinkedIn and sign up for the SelectUSA newsletter. You can also click here to sign up for the SelectUSA Digest, a weekly overview of the top FDI-related blog posts and social media content from SelectUSA.

Not only do we want you to connect with us, we want to connect with you. Did you ink a deal or have a productive meeting at the Summit? Let us share the good news! Be sure to contact Chris Higginbotham.

Plan Ahead

This year’s event was the biggest and most successful SelectUSA Summit yet. The team is already working hard on next year’s Summit which will be held June 20-22, 2018 at the Gaylord National Resort and Convention Center. To get the latest updates on the 2018 event, sign up here! In the meantime, make sure to take advantage of all of the resources SelectUSA offers all year round. No matter the stage of your project, SelectUSA can take the leads generated at the SelectUSA Summit and help you turn them into reality.

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Global Investment Creates Extraterrestrial Innovation and Hometown Jobs in Alabama

August 24, 2017

By Sandor Galambos, SelectUSA Investment Specialist based in the U.S. Embassy in Switzerland.

RUAG space

Leaders from RUAG Space and the State of Alabama ceremonially open the Swiss company’s first U.S. manufacturing facility.

RUAG Space, a Switzerland-based company, recently cut the ribbon on its first U.S. manufacturing facility, taking a major step to propel growth in the United States. The 130,000 square-foot facility in Decatur, Alabama, will produce high-tech equipment for launch vehicles for outer space operations and will create opportunities for workers in Alabama.

RUAG announced the facility in 2015 and has already created 50 new jobs there, with a plan to increase to 100 jobs over the next two years. The Alabama facility is the beginning for RUAG’s investment in the United States; the company is also in various stages of starting operations at facilities in in Florida, Colorado, and California.

RUAG is expanding in the United States for many of the same reasons why other global companies look to grow their businesses here. RUAG facilities will be at the cutting edge of the space industry, and this level of technology requires a workforce that is both innovative and reliable—the kind of workforce we have in the United States.

The company will also be closer to many of its primary customers, which will allow it to be more responsive to the needs of the industry it serves.

SelectUSA and the economic development team in Alabama have been working with RUAG Space since 2015 to help the company find the best opportunities to expand in the United States. The company attended the SelectUSA Investment Summit in 2016, making more connections in the United States and gaining insight into the regulatory issues relevant to the aerospace industry.

This success story is important for the economic development community, and providing support to RUAG Space and sharing their positive results can help other companies find their own success opportunity in the United States.

To learn more about how foreign-owned companies like RUAG Space are supporting jobs in the United States, check out the data available at SelectUSA.gov.

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New UN Report Highlights United States Lead in Global FDI and Digital Economy

August 15, 2017

By Harrison Frye, Intern, SelectUSA

Foreign Direct Investment (FDI) plays an important role in the U.S. economy by creating jobs, increasing wealth, and raising living standards. The United States continues to hold the largest amount of FDI in the world. A new report released by the United Nations Conference on Trade and Development (UNCTAD) showed that the United States was also the largest recipient of FDI flows in 2016.

UNCTAD data reflecting FDI inflows, measured in billions of dollars.

UNCTAD data reflecting global FDI inflows, measured in billions of dollars.

How can different numbers tell the same story? FDI is measured in both stocks and flows. Flows are the recorded value of cross-border transactions during a certain period of time. Inward flows are the transactions that increase the net amount of investment foreign investors have in enterprises within the reporting country’s borders. This is different from FDI stocks, which measure the total level of foreign direct investment at any point in time.

After an impressive rise in 2015, global FDI flows faltered during the past year, falling by 2 percent to $1.75 trillion.  This drop can be attributed to weak economic growth and significant policy risks, as seen by multinational enterprises.

This decline was not felt in the Unites States, however, which saw a 12 percent increase in inflows. The $391 billion of inflows to the United States was a record, and accounted for a quarter of global FDI inflows. The large increase in FDI into the country can be attributed to high investor confidence in the American economy and our developed workforce. Moreover, UNCTAD’s business survey found the United States was the top prospective host economy for FDI looking forward to 2017-2019.

More than half of the FDI inflows to the Unites States were in manufacturing, and about one-fifth were in finance and insurance. New apprenticeship programs proposed by the White House are aimed at preparing the next generation of Americans to be successful workers in the years to come, keeping the United States as the most attractive destination for potential investors.

Another area where the United States is seeing significant growth is the digital economy – the secondary focus area of the UNCTAD report. Noting that digital multinational enterprises (MNEs) are expanding at a dramatically faster rate than other multinationals, the report highlights notes that more than 60 of the top 100 digital MNEs are U.S.-based (for Internet platforms this rises to 10 of the top 11). This in turn is shaping global investment patterns in the 21st century economy. Demand-side factors such as income levels, population size, economic growth, and education levels are key elements in determining the amount of private investment in internet infrastructure, putting the United States ahead of other global competitors in attracting digital enterprises.

Are you interested in exploring the digital economy? SelectUSA’s investment specialists help companies understand the overall economy and investment trends using consumer information and industry overviews. SelectUSA also helps connect potential investors to economic development organizations, who then provide guidance and incentives at the local level. Learn more at www.selectusa.gov.

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Arlington County, Va.: Showcasing at SelectUSA

July 20, 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 Natalie Monkou, Business Development Manager, Arlington Economic Development.

Arlington Economic Development logoAs a region, the Greater Washington area is a prime destination for international companies that want to expand and grow in the United States. Arlington’s location, just across the Potomac River from Washington, allows companies, both regional and international, unparalleled access to the entire region and the world.

For the past three years, Arlington Economic Development (AED) has attended the SelectUSA Investment Summit (Summit), using the event as an opportunity to showcase Arlington, Va., and its community, businesses, and infrastructure. International companies interested in expanding or locating to the Washington region will find that Arlington has many tangible benefits including:

  • Strategic East Coast location within a two-hour flight time to major business centers in the United States
  • Easy access to three international airports (Washington Dulles International Airport, Ronald Reagan National Airport, Baltimore-Washington International Thurgood Marshall Airport) that connect to markets representing 80 percent of the world’s economy
  • Closest proximity of any Virginia jurisdiction to U.S. federal government, international organizations, and institutions
  • Highest percentage of 25- to 34-year-olds in the country with the majority working in the professional, scientific and technical services industries

As we look to grow and expand our business community, Arlington views SelectUSA as a great convener of subject matter experts that discuss topics of interest to our mission and community. Currently, Arlington is focused on attracting companies in high technology markets such as cybersecurity, energy, health, education, and big data. The Summit provides an ideal platform to engage with compatible businesses and organizations.

This year, as a kickoff to the Summit, we co-hosted a regional dinner with the Greater Washington China Investment Center and our partner EDOs from Washington, D.C., Maryland, and Northern Virginia. During this event, AED representatives engaged with 120 Chinese delegates and investors and local companies that are currently doing business or are interested in expanding their business to the United States.

The Summit is also a great platform to attract international companies. During our first visit to SelectUSA in 2015, AED met with representatives from Arktis Detection Systems, Inc., a Zurich, Switzerland-based company that develops cutting-edge radiation detection systems. The company has received funding from the Defense Advanced Research Projects Agency, which also happens to be headquartered in Arlington, to continue work on its advanced range of detectors. As a result of those discussions, in April 2016, Arktis opened its first U.S. subsidiary in Arlington. The Arlington location has given the company a home base in the United States to support and grow its operations. It was especially rewarding this year to see and listen to Rick Muntz, acting president of Arktis, speak on the “Preparing for and Managing Sustainable Growth: Exploring U.S. Soft Landings” panel at the Summit.

Overall, this served as a reminder of the success and the support that international companies, especially early-stage startups, receive when locating or expanding to the United States and Arlington, Va.

Interested in learning more about Arlington, Va., or how Arlington Economic Development can assist with your company’s business move? Contact us at aed@arlingtonva.us.

 

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Foreign Direct Investment: Driving Global Competitiveness and Innovation

July 7, 2017

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

The following is a cross-post from the U.S. Economic and Development Administration 

Foreign Direct Investment (FDI) plays an important role in the U.S. economy. It leads to the creation of jobs, an increase in wealth and living standards, and overall growth and innovation that drive the U.S. economic competitiveness. Last month, the Commerce Department hosted the 2017 SelectUSA Investment Summit providing a platform to communicate economic priorities and affirm the United States as the number one destination in the world for foreign direct investment.Direct Employment by majority foreign-owned firms in the US graph

The United States remains an attractive destination for FDI for a variety of reasons, including a large consumer base, a productive workforce, a highly innovative environment, and legal protections. As a result, foreign firms make investments in the United States on a regular basis by establishing new operations, purchasing existing operations of another company, or providing additional capital to their existing U.S. operations.

The U.S. welcomes foreign investment, and the numbers show that investors have confidence in the opportunities here. With a population of 320 million and a Gross Domestic Product (GDP) that’s over $18 trillion, our nation is home to more FDI stock than any other country.

The numbers paint the big picture:

  • 12.1 million jobs are attributable to FDI.
  • 6.4 million reflects the number of U.S. workers who are directly employed by majority foreign-owned firms.
  • 2.4 million includes jobs attributable to the economic activity of majority foreign-owned firms, including jobs in those firms’ supply chains, jobs attributable to higher incomes, and other economic effects.
  • In the manufacturing sector alone, productivity growth from technology spillovers associated with FDI contributed 3.5 million jobs.

At the Commerce Department’s Economic Development Administratoin (EDA), FDI is one of our investment priorities. These priorities are designed to provide an overarching framework to guide the agency’s investment portfolio and ensure its investments contribute the strongest positive impact on sustainable regional economic growth and diversification.

Since FY2011, EDA invested more than $109 million in 91 projects to help advance local strategies to attract FDI. Of the total, 61 projects totaling close to $98 million are expected to create and/or retain 30,073 jobs and attract over $8 billion in private investment. The other 30 projects totaling close to $12 million support FDI-related planning, research, technical assistance, access to capital, and/or other activities that are essential for successful economic development and job creation in the future.

Examples that show how EDA is investing to support FDI include:

  • Mississippi: Mississippi State University’s Canton-based office received the Mississippi Economic Development Council’s Community Economic Development Award for its work to bring advanced manufacturing jobs back to America. The program acquired its initial funding through EDA. According to the University, the initiative resulted in a nearly $11 million economic impact, with more than 33 direct investment opportunities identified and 333 jobs created or saved. Additionally, the program saw 262 industry certifications and 221 paid internships in high-demand advanced manufacturing skills.
  • Georgia: Over the last three decades, the global automotive sector has established a noticeable presence in the Southeast United States. From Mercedes in Alabama, to BMW in South Carolina, many automotive manufacturers are seeking to take advantage of the Southeast’s comparatively inexpensive cost of doing business, warm climate, and excellent transportation networks. In 2015, EDA invested $700,000 in Public Works Program funds in the city of Lavonia, Georgia, to make sewer systems improvements that helped bring a foreign-based automotive parts manufacturer to the region. As a result, it is estimated that the region will gain 400 new manufacturing jobs and attract $54 million in foreign direct investment.
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SelectUSA for Innovation, Knowledge, and Opportunity – 365 Days a Year

June 20, 2017

By Fred Volcansek, Executive Director, SelectUSA

The 2017 SelectUSA Investment Summit, June 18-20, concluded this afternoon. SelectUSA Executive Director Fred Volcansek looks back on the historic Summit and forward to SelectUSA’s ongoing mission: bringing job-creating investment to the United States. Summaries of Sunday and Monday be found here (day one) and here (day two).

I joined SelectUSA to help global businesses succeed by putting the American people first. As I look back over the past three days, I feel incredibly proud of our collective efforts to support this goal. I am inspired by the energy and enthusiasm that investors and economic developers alike have shown throughout the entire event, and believe more than ever that it’s time to get down to business.

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Photo of the Department of Commerce team that made the 2017 Summit a reality. Seated in front, from left to right: Fred Volcansek, Executive Director of SelectUSA; Kenneth Hyatt, Deputy Under Secretary for International Trade; Israel Hernandez, Deputy Chief of Staff and performing delegated duties of the Under Secretary for International Trade; Wilbur Ross, Secretary of Commerce; Judy Reinke, Acting Director General for the U.S. and Foreign Commercial Service and Assistant Secretary for Global Markets; and Peggy Philbin, Deputy Executive Director of SelectUSA

First, some reflections over the last three days. This year’s Summit, hosted by Commerce Secretary Wilbur Ross, was SelectUSA’s biggest yet. More than 2,800 international business investors, U.S. economic developers, service providers, members of the global press, and other key stakeholders met under one roof. Economic development organizations (EDOs) from 51 U.S. states and territories had the opportunity to meet directly with decision-making investors from over 60 international markets.

The 79,000-sq.-ft. Exhibition Hall was filled to capacity as EDOs from every corner of the United States showcased what their states, territories, regions, and cities had to offer. Our online matchmaking system is continuing to log floods of individual meetings between U.S. economic developers and global investors, meetings that form the foundation of what will become job-creating business success stories.

CEOs from BMW, Oracle, ABB, Siemens USA, and many more joined forces in plenaries, armchair discussions, and breakout sessions to discuss the latest developments and trends affecting investment in the United States. Secretaries Alexander Acosta (Labor), Steven T. Mnuchin (Treasury), and Rick Perry (Energy) joined Secretary Ross to discuss how each department was working to make the Administration’s America First agenda a reality, while Secretary Rex Tillerson (State) delivered a video message to participants reaffirming the government’s commitment to strengthening public and private sector economic relationships.

The Summit’s theme, “Grow with US”, isn’t just a tagline; it’s an invitation to the world, and I was thrilled to see two companies respond accordingly. In a first for SelectUSA, two companies – French tech startup Klaxoon and Indian business management firm Genpact – joined Secretary Ross to announce their plan to establish operations in New York and Florida.

These announcements represent renewed confidence in the United States. President Trump is dedicated to unleashing America’s economic might, and that includes bringing more foreign direct investment into the country than ever before.

The 2017 Investment Summit may be over, but the work of attracting investment to the United States continues. So much of this work is performed by economic development organizations across the country, which offer a wealth of information and resources to guide investors through the process of establishing or expanding their operations in a specific location. And SelectUSA is also here to help, offering assistance with navigating the federal regulatory system, providing access to data and information, and connecting U.S. EDOs to investors from around the world – both directly and at events like the Investment Summit.

By investing in the United States and its people, you’re investing in your own success and in an economy that powers the world.

Come to the United States – your business is welcome here, and we’re ready to work with you.

For more information on SelectUSA and its services, please visit http://www.selectusa.gov. Follow SelectUSA on Twitter @SelectUSA.

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Day Two: The 2017 SelectUSA Summit Continues

June 19, 2017

By Fred Volcansek, Executive Director, SelectUSA

The second day of the 2017 SelectUSA Investment Summit was one for the record books. On Monday, June 19, we welcomed more than 2,800 attendees – our largest Summit yet – from 51 U.S. states and territories and 64 global markets to the Gaylord National Resort and Convention Center.

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Photo from the Klaxoon announcement ceremony – Klaxoon CEO Matthieu Beucher (left) and SelectUSA Executive Director Fred Volcansek (right)

Deputy Chief of Staff and performing delegated duties of the Under Secretary for International Trade Israel Hernandez introduced Secretary Wilbur Ross, who started the first day of mainstage events by welcoming the record 1,200+ international investors to the second day of the Summit.

“To our international delegation members – welcome. We’re glad you’re here. We welcome you as our guests, and we welcome you as investors.” – Israel Hernandez

In addition to Secretary Ross, Energy Secretary Rick Perry highlighted one of the unique advantages to investing in the United States: our vast, low-cost supply of energy from a wide range of sources.

The theme for the 2017 Summit, “Grow with US”, promotes the fact that the United States is the place to invest and grow a business. When you select the United States, you’re gaining access to the world’s most dynamic, innovative market – and so much more.

This message was reiterated on the mainstage by the leading business executives and industry experts in the world, including National Association of Manufacturers CEO Jay Timmons, ABB President of the Americas Region Greg Sheu, General Motors Chair and CEO Mary T. Barra, GE Chairman and CEO Jeffrey R. Immelt, and others.
It was also another day of firsts for the SelectUSA Investment Summit.

One feature of the day was the armchair between Secretary Ross and UK Secretary of State for International Trade Liam Fox – the first time a U.S. cabinet member has ever shared the Summit stage with an international counterpart.

Building upon last year’s Infrastructure Roundtable, the SelectUSA Infrastructure Symposium brought experts in the field of public-private partnerships (P3s) together to discuss the challenges and opportunities of American infrastructure investment. Richard LeFrak, Chairman and CEO of LeFrak, delivered the keynote address.

Meanwhile, as the Symposium was underway, more SelectUSA history was made. Secretary Ross congratulated French tech startup Klaxoon, which broke the news of its first-ever investment in the United States, right here at the Summit.

Secretary Ross also joined South Carolina Governor Henry McMaster and executives from BMW, Michelin, and Siemens USA to recognize South Carolina’s ambitious workforce development programs.

The full day of listening and networking culminated in U.S. State and Local Night, a lively event where attendees got the chance to strengthen newly formed connections and take mini-trips all over the nation. I have no doubt that many successful ventures will be born, and new American jobs created, because of these connections.

It’s hard to believe that tomorrow, the 2017 Summit will draw to a close. And there is still so much to come. We’ll hear from Secretary of the Treasury Steven T. Mnuchin, Secretary of Labor Alexander Acosta, and several more international business leaders. I look forward to more exciting firsts, including another investment announcement that involves the creation of 250 new jobs in the Sunshine State.
Visit the Summit website to see the full agenda.

If you were not able to join us this year, check out the livestream for live coverage of mainstage events, and follow SelectUSA on Twitter.