Archive for the ‘Success Stories’ Category

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ITA’s South Korea/U.S. Power Working Group: Bringing Together Major Decision Makers

September 6, 2018

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

This is the fourth and final entry in a series of guest blogs highlighting ITA activities that help connect U.S. companies to opportunities in the Indo-Pacific region following the recent Indo-Pacific Business Forum where Secretary Ross, Secretary Pompeo and other cabinet officials spoke about the Administration’s commitment to the region.

Click here to read the second entry of our Indo-Pacific blog series.

Guest Blog Q & A with Mitchell Williams, Managing Director, Curtiss-Wright Korea, Japan

ITA: Tell us about your business and what makes your product/service unique?

Williams: Curtiss-Wright Corporation has a long history with its roots dating back to Orville and Wilbur Wright’s first flight in 1903, and Mr. Glenn Curtiss, the father of naval aviation. In 1929, the companies founded by these three great aviation pioneers, the Curtiss Aeroplane and Motor Company and Wright Aeronautical Corporation, merged to form the largest aircraft company at the time, Curtiss-Wright Corporation.

Mitchell Williams

Mitchell Williams, Managing Director, Curtiss-Wright Korea, Japan

We have continued the path of innovation and advanced engineering and have applied that expertise to a number of critical applications in high-performance markets. Our success has resulted in a world-renowned reputation for performance, long-standing customer relationships and significant growth and profitability in the markets in which we compete.

Today, we are a diversified, multinational provider of highly engineered, technologically advanced products and services. We maintain a balanced and diversified business portfolio with revenues generated across our three segments: Commercial/Industrial, Defense and Power, which support several of the largest, most vital industries in the world. We have been a publicly traded company for nearly 90 years and our highly engineered, innovative products and services are recognized for their advanced technology and unsurpassed reliability.

What makes a world-class organization? It all begins with core values that provide a strong foundation for success. Simple in theory, the values of Curtiss-Wright are reflected in every aspect of our operations. To our employees, these are more than words on a wall – we all take these values to heart in our relationships with our customers and each other.

ITA: How do you see Asia affecting your business in the future?

Williams: Our opportunities in Japan have increased in the industrial space as nuclear plants have remained closed and alternate sources of power have been introduced. Particularly in the data analytics and remote monitoring solutions areas we have seen success through our partnerships with the local power companies. The continuous phase-out of nuclear power in South Korea is expected to shrink our order volume as we lose locations. The 2030 plan from the Korean government calls for 13GW of renewable energy which is providing opportunities to play more in that space. Taiwan is looking to restart their nuclear fleet to meet their energy needs. This change will also provide opportunities there.

ITA: What was uniquely useful about the South Korea/U.S. Power Working Group?

Williams: It was uniquely helpful in that it brought together major decision makers and shareholders to deliberate on issues facing the industry. All presented well-thought out and prepared statements which provided useful knowledge and background into the opportunities and challenges we face today. Where presentations were made, all materials were provided to the participants for future reference. This caliber of meeting demands the respect of all included and turns competitors into colleagues and government officials into friends. Nowhere else have I seen this level of participation and quality discussion.

ITA: Why do you work with ITA? And/or How has ITA already helped you in Asia?

Williams: The ITA works to increase U.S. content through advocacy, webinars, seminars, working focus groups and more. ITA members have been supportive of the work we do and of helping us to achieve our goals in Asia. Members of the ITA’s U.S. Commercial Service have shown support by attending industry events, seminars, and conferences together to learn more about the industry and to provide support where necessary. They have introduced us to high level officials during their visits to Asia, something we would have had much difficulty arranging on our own. Finally, the ITA supports the work I do as Chair of the Energy and Environment Committee at the American Chamber in Korea. They are always keen to attend committee meetings and provide meaningful input. I would recommend the ITA services to any multinational company wanting to do business more intelligently and mitigate risk in Asian markets.

ITA is proud to connect U.S. companies to opportunities in the Indo-Pacific region. If you are interested in how ITA can help you access Asian markets, contact your local International Trade Specialist.

 

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ITA’s Indonesia Power Working Group: Open Access to the Decision Makers and Policy Makers

August 31, 2018

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

This is third entry in a series of guest blogs highlighting ITA activities that help connect U.S. companies to opportunities in the Indo-Pacific region following the recent Indo-Pacific Business Forum where Secretary Ross, Secretary Pompeo and other cabinet officials spoke about the Administration’s commitment to the region.

Click here to read the latest entry of our Indo-Pacific blog series.

Guest Blog Q & A with David Mansfield, Director for Asia, Powerphase International Singapore

ITA: Tell us about your business and what makes your product/service unique?

Mansfield: Powerphase manufactures an innovative High Efficiency Incremental Power Technology called TurboPhase. This technology enables users of Gas Turbine Technology to both increase the power output of their GT’s as well as efficiency, at the lowest cost of generation currently available in the market.

Mansfield speaks at the PWG Energy Day in January 2018, at the Ministry of Energy.

Mansfield speaks at the PWG Energy Day in January 2018, at the Ministry of Energy.

ITA: How do you see Asia affecting your business in the future?

Mansfield: Asia is without doubt the most significant contributor to global development for the foreseeable future. With countries like Indonesia, Vietnam & Thailand on constant expansion into industrial markets, and with the development of renewable generation, this market will need products like ours to ensure stability of generation, now and in the future.

ITA: What was uniquely useful about the Indonesia Power Working Group?

Mansfield: To put it simply, access to the decision makers and policy makers. To change the way a country approaches its electricity solutions on a macro scale requires both. The PWG is the only method to achieve this.

ITA: Why do you work with ITA? And/or How has ITA already helped you in Asia?

Mansfield: The ITA is a one stop shop to access the market. With a limited team based in Asia, having open access to the decision makers and policy makers is critical. The ITA have additionally supported driving opportunities through to conclusion in a challenging political environment. A unique capability which every U.S. Company should consider for its foray into these challenging markets.

Please visit www.powerphase.com to see what exciting projects they are working on thanks to the help of the ITA.

ITA is proud to connect U.S. companies to opportunities in the Indo-Pacific region. If you are interested in how ITA can help you access Asian markets, contact your local International Trade Specialist.

 

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AES: Reaching Business Opportunities in Vietnam

August 29, 2018

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

This is the second entry in a series of guest blogs highlighting ITA activities that help connect U.S. companies to opportunities in the Indo-Pacific region following the recent Indo-Pacific Business Forum where Secretary Ross, Secretary Pompeo and other cabinet officials spoke about the Administration’s commitment to the region.

Click here to read the first entry of our Indo-Pacific blog series.

Guest Blog Q & A with David Stone, President – Vietnam, AES, on ITA’s Vietnam Energy Working Group

 ITA: Tell us about your business and what makes your product/service unique?

Stone: AES is the first independent power producer to reach successful financial closure in Vietnam since 2003, with a total financing of approximately $1.46 billion. The company has been investing in Vietnam since 2010 and successfully developed, built, and currently operates the 1,240 MW Mong Duong 2 BOT Power Project in Quang Ninh province. The project was completed with an award-winning safety record, on budget, and ahead of schedule. The plant is expected to generate up to 7.6 billion kilowatt hours of electricity annually.

AES is looking at other business opportunities in Vietnam including renewable energy and natural gas power generation. AES signed an MOU on November 12, 2017, in the presence of Vietnam President Tran Dai Quang and United States President Donald Trump. This MOU is a critical milestone, expressing the commitment of both PetroVietnam Gas Joint Stock Corporation (PV Gas) and AES to jointly develop the Son My LNG Terminal Project, with a partnership structure of 51 percent and 49 percent for PV Gas and AES respectively. This marks another milestone in the historic partnership and strong collaboration towards mutual economic development between Vietnam and the United States.

In addition to Son My LNG Terminal Project, AES has also expressed interest in investing in the Son My 2 CCGT Project, which will not only create jobs in Vietnam and in the United States through exports of equipment to Vietnam,but could substantially contribute to the bilateral trade and investment relationship between the two countries. The Son My LNG Terminal Project and Son My 2 CCGT Project may pave the way to increased long-lasting economic ties that would benefit both countries, and further increase the visibility of Vietnam in the US and vice versa.

ITA: How do you see Asia affecting your business in the future?

Stone: AES’s mission is improving lives by accelerating a safer and greener energy future. We strongly believe that Asia should be part of the transition to CO2 free energy production and we work in this direction committing to different projects in the region that will bring it to a new level of energy production and consumption.

ITA: What was uniquely useful about the Vietnam Energy Industry Group?

Stone: In the rapidly changing global environment the dialogue and exchange of ideas is the engine that drives the economies further. That is why we are happy that the newly-formed US-Vietnam Energy Industry Group has been able to create an energy forum and that facilitates dialogue to help business communities have the chance to discuss ideas with the local and national authorities of Vietnam, generating plans for economic development of the country.

ITA: Why do you work with ITA? And/or How has ITA already helped you in Asia?

Stone: ITA is a valuable partner that helps us to strengthen the dialogue between the business and the authorities in different country. The fruitful dialogue with our key stakeholders is essential for the development of our ideas reflecting the needs of the local societies. In Vietnam we work with the Embassy and Department of Commerce to provide to the Government of Vietnam messages to reinforce AES commitments as well as request for a thorough consideration from the Government to ensure a fair business.

ITA is proud to connect U.S. companies to opportunities in the Indo-Pacific region. If you are interested in how ITA can help you access Asian markets, contact your local International Trade Specialist

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Invest, Grow, and Succeed in the United States

June 22, 2018

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Brian Lenihan is the Acting Executive Director of SelectUSA

Photo of stage and audience at 2018 SelectUSA Investment Summit.

More than 3,000 international business investors, U.S. economic developers, and more joined high-level government officials and Cabinet secretaries, global CEOs, and FDI thought leaders for the 2018 SelectUSA Investment Summit.

Today, thousands of global business investors, U.S. economic developers, senior government officials and service providers concluded the 2018 SelectUSA Investment Summit, the premier foreign direct investment (FDI) event in the United States.

The last three days culminated a year’s worth of hard work and collaboration, resulting in another successful Investment Summit that included several new investment announcements and the beginning of countless future partnerships. But most importantly, I have seen firsthand, the excitement and energy that the world has for investing and doing business in the United States.

While this was my first Investment Summit as Acting Director, I am incredibly proud of our team’s work and dedication. This was one of SelectUSA’s largest Investment Summits. More than 3,000 attendees from all over the world joined SelectUSA at the Gaylord National Resort and Convention Center for one reason: FDI.

And this Investment Summit has a history of delivering: Past attendees have announced nearly $93 billion in new investment projects, and Thursday alone, four companies announced more than $600 million in projects that will create about 650 U.S. jobs.

Secretary Wilbur Ross hosted the Investment Summit, and concluded it by reiterating the Trump Administration’s commitment to promoting global investment in the United States and the fostering innovation. “Having the world’s most innovative, open system of capitalism is the reason why the United States continues to create entirely new industries that generate strong economic growth,” Secretary Wilbur Ross told Investment Summit participants. “There really is no better place in the world to invest.”

This year’s theme, “Invest Here. Grow Here. Succeed Here,” focused on the connections between global commerce and U.S. communities. U.S. Cabinet secretaries, Governors, CEOs from Fortune 500 companies, FDI experts, and others provided attendees with insights into how FDI impacts a variety of sectors and fields, from the burgeoning commercial space industry to site selection.

Secretary of the Treasury Steven Mnuchin spoke about the positive impact of recent tax and regulatory reforms on the U.S. market: “We invite you to join us in this economic renewal, to seize the opportunity to invest in America and grow your business here.”

Secretary of Energy Rick Perry championed America’s diverse and expansive energy market to attending investors: “No matter what measure you use, the American energy climate is just outstanding… We’ve seen a cascade of game-changing breakthroughs and technology driving energy production and efficiency up, and energy prices and emissions down.”

Secretary of State Mike Pompeo’s remarks focused on U.S. leadership in promoting a safer, more prosperous world, one where international trade shared among equals: “U.S. economic leadership is built on principles of fairness and a level playing field. The State Department will fight to protect the interests of U.S. intellectual property holders around the world; we’ll work to protect your innovation from theft, copyright violations, or other misuse.”

The Exhibition Hall—the networking hub of the Investment Summit—was full of U.S. economic development organizations (EDOs) from across the United States. Each EDO showcased investment opportunities their communities had to offer the international investors in attendance.  This year’s event included more than 2,700 individual matchmaking meetings among the companies and EDOs in attendance.

On Thursday: four global companies broke news:

  • UK-based health services and clinical research company Re:Cognition Health is investing $15 million in Fairfax, Virginia to open a state-of-the-art facility. Re:Cognition will open an additional 15 facilities across the country in coming years;
  • Dutch cold storage company NewCold will invest between $90 million in Burley, Idaho;
  • Japanese automotive electronic components manufacturer Weastec is investing $3 million in Dublin, Ohio; and
  • Indian steel company JSW announced a $500 million investment in Mingo Junction, Ohio, a town of just 3,300 people.

Friday saw some exciting announcements, too:

  • Governor of Puerto Rico Ricardo Rossello announced the issuance of an RFQ for a public-private, utility-scale energy storage project to upgrade and strengthen the island’s energy grid with renewables and efficiency improvements; and
  • Secretary Ross released SelectUSA’s new report on how FDI has benefitted rural America.

The 2018 Investment Summit may have ended, but the work of maintaining U.S. leadership in FDI continues. It was a privilege to hear from and witness those on the front lines of FDI attraction and promotion: state and local-level EDOs. The United States would not be the top destination of FDI were it not for their work. SelectUSA is here to work with them, with you, and we’re here year-round to help in a variety of ways.

Whether you’re a first-time business investor or an experienced economic development professional, SelectUSA can help connect you to the resources and information needed to make your investment a success. Next year’s SelectUSA Investment Summit returns June 10-12, 2019, at the Washington Hilton in Washington, D.C.

For more information on SelectUSA and its services, please visit www.selectusa.gov. I also invite you to follow SelectUSA on Twitter and sign up for email updates to stay in the know with us.

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SelectUSA’s $30 Billion Impact on the U.S. Economy

June 7, 2018

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

This post originally appeared on the Department of Commerce blog.

Guest blog post by Steven Meyers, Director of Outreach and Communications, SelectUSA 

SelectUSA graphic announcing more than $30 billion of greenfield investment into the United States since its inception.

This month, the SelectUSA team hit a major milestone, having now facilitated more than $30 billion in client-verified business investment projects.

Foreign direct investment (FDI) in the United States is a key contributor to U.S. economic growth, directly and indirectly supporting nearly 13 million American jobs. It contributes to U.S. exports, drives innovation, and – most importantly – sends hardworking Americans home with a paycheck.

Since 2007, the SelectUSA program has worked with thousands of clients – business investors, economic development organizations (EDOs), and other leaders – to support job-creating FDI in the United States. Just this month, the SelectUSA team hit a major milestone, having now facilitated more than $30 billion in client-verified business investment projects.

This is the culmination of years of working with clients, hosting global business events, and working closely with American EDOs.

This past year was especially strong, as the SelectUSA team:

  • Held the largest-ever SelectUSA Investment Summit, with more than 1,200 potential business investors and economic development representatives from 52 states and territories.
  • Brought 10 European medical technology startups to Pittsburgh, Cleveland, and Austin as part of its first inbound investment mission.
  • Hosted investment road shows in India and China that facilitated more than 300 meetings between EDOs and potential business investors.
  • Released its first-ever research reports, analyzing the positive effects of FDI on manufacturing and high-tech industries.
  • Led 20+ EDO delegations to some of the largest trade shows in the world, including Hannover Messe in Germany and BIO Korea.

We were also happy to share many FDI success stories on the International Trade Administration blog. Swiss additive manufacturing company Oerlikon decided to invest $62 million in Huntersville, North Carolina, after attending the 2016 SelectUSA Investment Summit. A.T. Kearney ranked the United States as the world’s top destination for business investment for the 5th year in a row. And Mahindra recently shared its reasons for investing in the United States, creating jobs in Michigan.

Our team at SelectUSA and our partners in the economic development community make this all possible. I thank them for their dedication and hard work.

You may not have heard of SelectUSA, and you may not regularly think about the impact of FDI, but millions of U.S. workers rely on FDI for their livelihood. We are proud to support that, and we look forward to working with more clients and helping to create U.S. jobs.

Learn more about the upcoming 2018 SelectUSA Investment Summit, June 20-22, in Washington, D.C. at selectusasummit.us. Visit selectusa.gov for more information about our services, events, and more. You can also follow us on Twitter @SelectUSA.

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Indian Automaker Succeeds in United States

February 16, 2018

This is a guest blog post from Rick Haas, CEO of Mahindra Automotive North America.

Mahindra company logoI grew up in Detroit during a period when car culture was the dominant force driving this area. I recall the many warm summer afternoons spent “helping” my uncle and his friends wrench on their muscle cars, hoping that I would have my own hotrod to tinker with someday. But one way or the other, I’d caught the bug, and at the ripe old age of 12 decided that the auto industry was my future.

The men and women here at Mahindra Automotive North America (MANA) have this same passion for creating and producing new and exciting products, many having grown up with experiences like mine. It’s why we’re attracted to Mahindra. Through our investment in Michigan, we are creating and delivering thoughtful new products – and with them new jobs and growth to the Detroit regional economy. We have built a team of highly experienced and talented Americans from the Detroit area to help make this dream a reality and contribute to the rebuilding of this great city.  In November, we opened the first automotive manufacturing facility in Detroit in more than 25 years and are off to the races.

This journey dates back to 1945, when Mahindra began producing the iconic Willys CJ3 under license in India.  Since that time, Mahindra has grown to a $19 billion company that employs 200,000 people in more than 100 countries. When the company was looking to establish a new international auto facility, it had many options including Korea, Japan, Germany, and the United Kingdom.  However, the same rugged, hardworking ethic that has fueled Mahindra for more than 70 years is what drew us to Detroit – still the auto capitol of the world.  The recession hit Detroit and its automotive sector hard, but you can’t keep its hardworking and talented people down long, and I’m proud to be a part of the city’s economic resurgence.

Mahindra established an automotive design technical center just north of Detroit in Troy, Michigan, in 2013, and our work continued to grow – and grow we did! Fueled by the remarkable talent available in the Detroit area, we have tripled our workforce in the last 18 months. The technical center has outgrown our first building and we now have three facilities—in Auburn Hills, Pontiac, and Troy— and have established MANA.  We are currently working with the U.S. Postal Service to develop the Next Generation Delivery Vehicle, we will introduce an off-road utility vehicle (UTV) in the first quarter of 2018, and will add another 400 jobs in the Detroit area by 2020.

At Mahindra, we believe the time is now to succeed in America. We are increasing investment in the United States and we expect to grow our American operations significantly in the coming years. We’ve accomplished this with the help of federal, state, and local leaders, including SelectUSA, all of whom have been terrific partners in our growth. Programs like SelectUSA serve as the catalyst to accelerate companies’ investment initiatives in the United States and provide that win-win partnership that can turbocharge job growth in many towns across this nation.

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Eastern Idaho Secures Its First Foreign Direct Investment

February 9, 2018

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

Guest post by Lisa Buddecke, Regional Economic Development for Eastern Idaho

Photo of Sakae Casting President and CEO Takashi Suzuki and Lt. Governor of Idaho Brad Little at the 2017 SelectUSA Investment Summit, June 20, 2017.

Sakae Casting President and CEO Takashi Suzuki and Lt. Governor of Idaho Brad Little at the 2017 SelectUSA Investment Summit, June 20, 2017.

Eastern Idaho, known for its Innovation Corridor – featuring extensive science, technology, and research sectors – secured its first foreign direct investment (FDI) success as a direct result of SelectUSA.

In the spring of 2017, Regional Economic Development for Eastern Idaho (REDI) celebrated the grand opening of two Japan-based metal fabrication businesses, Sakae Casting and Ohzen, in Idaho Falls. These investments, the first for both companies in the United States, were finalized after meeting with the Idaho team and SelectUSA representatives at the 2016 SelectUSA Investment Summit.

This FDI came about in a unique way. REDI’s CEO Jan Rogers first contacted Sakae Casting during its 2016 visit to Idaho Falls, thanks to a sister city program between Idaho Falls and Tokai-mura, Japan. At the recommendation of Rogers, Sakae, together with the company’s partner Ohzen, attended the SelectUSA Investment Summit later that summer.

“Thanks to Sakae Casting and Ohzen’s success at the SelectUSA Summit, their representatives returned to Idaho Falls to meet with potential partners, including the University of Idaho, Boise State University, and local advanced manufacturing companies,” Rogers said. “With support from our contacts at SelectUSA, Sakae decided to open its first U.S. location here to focus on research and development and partner with our universities, nuclear, and advance manufacturing companies in product development and sales.”

Selecting Idaho Falls was an ideal fit for Sakae and Ohzen. With the University of Idaho, Idaho State University, Brigham Young University-Idaho, and Idaho National Laboratory in the region, these entities are already beginning to pay off for Sakae Casting.

In November 2017, the Idaho Department of Commerce awarded a nearly $238,000 Idaho Global Entrepreneurial Mission (IGEM) grant to the University of Idaho, Boise State University, and the Center for Advanced Energy Studies to partner with Sakae Casting on research and development on spent nuclear fuel storage and cooling capabilities. The results of this partnership could impact nearly 100 nuclear power sites. The IGEM funding is vital to kick-starting Sakae’s extensive R&D efforts.

Without Sakae Casting attending the SelectUSA Investment Summit and SelectUSA’s ongoing support throughout the process, none of this would have been possible. This successful interaction is a testament to how valuable SelectUSA can be in fostering and supporting FDI in the United States, and how FDI projects can grow foreign capabilities and economic development years after the initial investment.

To learn more about the upcoming 2018 SelectUSA Investment Summit (June 20-22), please visit selectusasummit.us.