Archive for the ‘SelectUSA’ Category

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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!

 

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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.

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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.

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SelectUSA: Front and Center at the 2016 Hannover Messe Trade Fair

April 26, 2016

By Vinai Thummalapally, Executive Director, SelectUSA

The world’s leading industrial technology trade show, Hannover Messe, is in full swing, and this year, the United States is the official Partner Country for the first time ever. President Obama spoke at the opening ceremony and highlighted the U.S. commitment to strengthening its industrial base, encouraging investors to consider the U.S. market: “As you look around the globe and try to decide where to invest, where to set up shop, I urge you to select the United States of America. Select USA.”

Sign

Select USA welcomes you to Hannover Messe

For companies looking to expand or establish their businesses in the United States, SelectUSA is here to help. As the U.S. government-wide program that facilitates foreign direct investment into the United States, SelectUSA provides a variety of services to international companies of all sizes and U.S. economic development organizations (EDOs), serving as a single point of contact for investment at the U.S federal government level.

SelectUSA offers three core services for companies. We help investors get the information they need to make critical decisions; we help them identify and connect to the right people at the U.S. state, local, and tribal level; and we assist companies with understanding and resolving questions related to U.S. regulations or programs.

At Hannover Messe, the SelectUSA general services stand (F06 62) in Hall 3, is staffed with investment specialists ready to assist businesses. If you haven’t visited already, we warmly welcome you to the USA Investment Pavilion, where you can learn about opportunities from nearly every corner of the United States in one convenient location. Check out the list of exhibitors on the Hannover Messe website. I also encourage all 2016 Messe participants to check our complete agenda of events – we are hosting activities throughout the day.

On Tuesday, we are featuring talks on Lufthansa Technik’s investment in Puerto Rico, South Carolina’s Automotive Industry, the Louisiana Chemical Corridor Initiative, the popular U.S. Cluster Mapping tool. On Thursday, we’re hosting a “SelectUSA 101” briefing bright and early, followed by sessions on FDI data, opportunities in Texas, integrated business industries in Pennsylvania, and workforce development. On Thursday and Friday, we’ll be repeating a few of the sessions, but you can also hear directly from Loudoun County and learn about doing business with American Indian Tribes.

If you are in Hannover, we look forward to meeting you, so please stop by. If not, please visit our website at http://www.SelectUSA.gov. We are ready to be of service!

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President Obama to Address Participants and Kick Off the 2016 SelectUSA Investment Summit

April 11, 2016

This post originally appeared on the Department of Commerce blog.

Post by Penny Pritzker Secretary of Commerce

I am excited to announce that President Obama will deliver the keynote address on the first day of the 2016 SelectUSA Investment Summit on Monday, June 20, here in Washington, D.C.

The President’s participation underscores our Administration’s deep commitment to bringing new job-creating investment to the United States. An estimated 12 million American jobs are attributable to foreign direct investment (FDI), which also supports long-term economic growth by driving exports and sparking innovation. The U.S. affiliates of international companies were responsible for one fifth of all U.S. goods exports ($360 billion) and spent $53 billion on American research and development (R&D) in 2013 alone.

Secretary Pritzker Welcomes President Barack Obama to the 2015 SelectUSA Investment Summit

Secretary Pritzker Welcomes President Barack Obama to the 2015 SelectUSA Investment Summit

This year’s Summit theme is “The Innovation Advantage” because companies of all sizes can benefit from the environment for innovation in the United States. Noting the U.S. position as the world’s largest and most innovative economy, President Obama said at last year’s Summit, “[The United States] is home not only to more R&D investment than any other country but to nearly one third of all R&D investment in the world. Our commitment to the rule of law and strong intellectual property protections make America a dependable place to innovate and do business.”

The SelectUSA Investment Summit brings companies that are considering establishing or expanding operations together with economic developers from across the country to learn how the U.S. climate for innovation—as well as the other advantages offered by the United States—can support their global competitiveness. Speakers from both the public and private sectors will share insights and real-world examples highlighting successful investments and the diversity of resources across the United States. In addition to President Obama, business leaders representing companies such as Xerox, Indiegogo, ABB Group, L’Oréal, Rassini, IKEA, Wanxiang, TOTO, and others will discuss the advantages of investing in the United States. The Summit agenda is now available online.

We expect to welcome more than 2,000 participants to Washington from approximately 70 countries and every corner of the United States. The Summit Exhibition Hall will feature state and local economic development organizations, and participants can use a new online matchmaking system to coordinate business meetings and connect face to face with economic developers, service providers, and government officials from federal, state, and local levels.

Registration for the Summit is open. I encourage you – innovators, investors and economic development leaders – to apply to attend the top FDI event in the country. It promises to be another stellar event.

About SelectUSA: Housed within the U.S. Department of Commerce, SelectUSA promotes and facilitates business investment into the United States by coordinating related federal government agencies to serve as a single point of contact for investors. 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. Since its inception in 2011, SelectUSA has facilitated more than $19 billion in FDI, which is expected to create more than 14,000 jobs. For more information, visit www.selectusa.gov.

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SelectUSA’s Japan Road Show Highlights the Strong U.S.-Japan Economic Partnership

March 4, 2016

This post contains external links. Please review our external linking policy.  This is a guest blog by Vinai Thummalapally, Executive Director of SelectUSA.

Last month, I had the privilege of attending the SelectUSA Japan Road Show. My colleagues and I traveled to Tokyo, Nagoya, Osaka, and Fukuoka, meeting with investors and promoting the United States as the best place in the world to do business every step of the way. I saw firsthand the excitement and enthusiasm that Japanese business leaders and investors had for U.S. investment opportunities.

MOI signing ceremony

SelectUSA’s Thummalapally, JETRO Executive VP Tatsuhiro Shindo, Ambassador Caroline Kennedy and JETRO Chairman Hiroyuki Ishige at the MOI signing ceremony.

The United States and Japan have one of the strongest economic and trade partnerships in the world. In fact, Japan is the second largest source of foreign direct investment (FDI) in the United States with more than $374.7 billion in FDI stock (nearly 13 percent of the total in 2014). In 2013 alone, Japan-sourced FDI contributed more to U.S. goods exports and research and development (R&D) spending than any other market. To be exact, Japanese FDI accounted for $69.3 billion of U.S. goods exports and more than $7.5 billion of R&D spending.

At the signing ceremony of the SelectUSA-Japan External Trade Organization (JETRO) Memorandum of Intent (MOI), both Ambassador Caroline Kennedy and JETRO Chairman and CEO Hiroyuki Ishige noted that in order to invigorate bilateral investment between the United States and Japan across industry sectors, it is necessary for Japanese small and medium enterprises to proactively take advantage of new and emerging business opportunities in the United States. Under the Trans-Pacific Partnership (TPP), these opportunities would increase.

This sentiment was reflected throughout the rest of my trip as we traveled south signing two additional MOIs with the Tokyo Chamber of Commerce and Industry and the Osaka Chamber of Commerce and Industry along the way. Enhancing the strong bilateral investment relationship between our two nations is a priority of SelectUSA. We put that priority into action as we engaged with more than 500 Road Show participants, briefing them on the benefits and opportunities of investing in the United States. Nineteen U.S. economic development organizations (EDOs) were featured during the Road Show. Their representatives were met with heightened attention and questions from investors curious about their regions.

I am excited and heartened by this visit to Japan because of the renewed energy and spirit that defines the U.S.-Japan commercial relationship. Thanks to all of our partners in Japan for contributing so much to our continued partnership! SelectUSA, housed within the International Trade Administration, is dedicated to promoting FDI into the United States by working with foreign firms and U.S. EDOs. The upcoming 2016 SelectUSA Investment Summit will provide the perfect opportunities to forge new and deeper economic partnerships from around the world when we convene in June.

 

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New Report: Global FDI Flows Show Continued Confidence in U.S. Economy

March 3, 2016

Felicia Pullam is the Director of Outreach for SelectUSA.

Foreign direct investment (FDI) is tremendously important to the American economy. The U.S. affiliates of foreign companies are responsible for roughly 12 million jobs in the United States, and they spent $53 billion on U.S. research and development and exported $360 billion worth of U.S. goods in 2013 alone. New data from the United Nations Conference on Trade and Development (UNCTAD) on global FDI shows that the United States remains the leading destination for investment. The long-term outlook inherent in FDI decisions means that confidence in our economy continued to grow.

SelectUSA 2016 Investment Summit

            SelectUSA 2016 Investment Summit

UNCTAD recently published its Global Investment Trends Monitor Report on 2015 FDI flows, which analyzes FDI flows between countries and regions. The report reveals that flows into the United States increased to $384 billion, more than any other country and a record high.

Worldwide, FDI flows recovered “unexpectedly” strongly in 2015, increasing 36 percent to an estimated $1.7 trillion – the highest level since the recession. The report notes that this growth can be attributed to a surge in mergers and acquisitions (M&As), as well as corporate reconfigurations. Internationally, greenfield investment was relatively flat, with 0.9 percent growth.

FDI flows, however, are notoriously volatile. A handful of deals – or even just one large investment – can swing annual flows dramatically. For this reason, our team at SelectUSA relies primarily on “stock” or “position” data – the total cumulative amount of FDI – to understand FDI trends. Nonetheless, the overall patterns of FDI flow and long-term trends in these flows can be instructive.

For example, the report highlights the reversal of a trend in global investment flows in 2015. Between 2012 and 2014, developing countries received a larger share of FDI inflows than their developed counterparts. In 2015, FDI inflows to developed economies grew to their second highest level ever ($936 billion), or 55 percent of all FDI, driven by flows to the European Union and the United States. FDI inflows to developing economies increased just 5 percent last year to $741 billion.

Last year also marks the ninth time in ten years that the United States recorded more FDI inflow than any other country. Combined with the fact that the United States is home to the largest amount – by far – of FDI stock, it is clear that investors have been consistently confident in the quality of the investment environment and opportunities in the United States.

That’s not a surprise: we hear from companies all the time about why they chose to invest here, and international executives ranked the United States at the top of A.T. Kearney’s FDI Confidence Index for the third year running.  Business leaders know that success in the U.S. market can help drive global success. The United States is not only home to the largest and most attractive consumer market, it also thrives through a culture of innovation and a workforce that is among the world’s most productive. Companies of all sizes – from start-ups to multinationals – can find the ideas, resources, and market they need to be competitive.

SelectUSA will hold the 2016 Investment Summit on June 19-21 in Washington, D.C. to showcase investment opportunities from every corner of our country to investors from 70 countries. Participants can learn more about how, where, and why to invest in the United States from high-profile executives, senior officials, and economic developers. Visit SelectUSASummit.us to learn more and register today.

About SelectUSA: Housed within the U.S. Department of Commerce, SelectUSA promotes and facilitates business investment into the United States by coordinating related federal government agencies to serve as a single point of contact for investors. 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 U.S. federal regulatory system; and find solutions to issues related to the U.S. federal government.