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U.S. Innovations on Display at HANNOVER MESSE 2017

April 26, 2017

Jason Lindesmith is a Communications Specialist at the International Trade Administration

Robotic arms with eyes. Glasses and helmets that revolutionize how employees on the manufacturing floor do their job. Software programs that transform old-school machines into integrated industry 4.0 solutions. These innovations are just a small sample of the U.S. technology on display this week at HANNOVER MESSE 2017.

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Acting Under Secretary, Ken Hyatt speaks at Hannover Messe’s Transatlantic Forum about the strong economic ties between the U.S. & Germany.

More than 220 U.S. exhibitors from 30 states chose to showcase their manufacturing and industrial technology at this year’s Hannover fair – making this year’s group of U.S. exhibitors one of the largest contingents ever.

As the world’s largest industrial technology show, HANNOVER MESSE provides a venue to show off the latest and greatest on the world stage. HANNOVER MESSE hosts more than 200,000 visitors from more than 60 countries and spans across a hard-to-comprehend 27 conference halls.

Here is a sample of the U.S. technology on display at HANNOVER MESSE 2017:

UpSkill is a Virginia-based company specializing in augmented reality solutions. Its technology connects hands-on workers to their equipment and work environment in ways that boost productivity and greatly reduce training time. All you do is put on the glasses, then real-time instructions, pictures, and status information appear to guide you through assembly or diagnostic procedures.

Tulip’s products are all about creating smart manufacturing environments. They allow manufacturers to integrate manual and machine data with apps that provide a more holistic, real-time view of what’s happening on the shop floor.

Try on one of DAQRI’s helmets or glasses, and you’ll immediately become aware of another layer of information and data all around you. Its technology helps manufacturing employees be more productive and predictive by pushing the right data to them at the right time.

Telit’s technology allows manufacturers to transform their current equipment and processes into a smart, connected end-to-end system. It’s not feasible for most companies to replace their entire suite of machinery and equipment to upgrade it to today’s latest models. Telit’s solution works with what manufacturers are already using – that’s the key.

The “robot with eyes” mentioned earlier this this post belongs to Rethink Robotics. The Boston-based manufacturer specializes in making collaborative robots with software to ensure they are easy to train and deploy. Strategically placed sensors allow its robots to work safely next to people without a cage around them (cages oftentimes surround robots in a manufacturing environment).

These and other innovative U.S. exhibitors are just one piece of the U.S. presence at HANNOVER MESSE. The U.S. Commercial Service is also on hand to help U.S. companies find the right international partners and opportunities during their time at the fair.

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Grow With Us: Top 5 Reasons to Attend the 2017 #SelectUSASummit

April 20, 2017

Elena Volkava is an Intern with SelectUSA, a Program within the U.S. Department of Commerce’s International Trade Administration. She is a Graduate Student Studying International Development at Georgetown University.

With a total foreign direct investment (FDI) stock of $3.1 trillion, the United States is the world’s top destination for business investment. In less than 60 days, the nation’s top FDI event comes back to the Washington, D.C., area, offering insight on the United States’ innovative business climate and featuring investment opportunities from every corner of the country.

The SelectUSA Investment Summit will be held on June 18-20. Have you registered yet?
The Summit brings the diversity of the United States together with serious business investors from around the globe. While there is no shortage of reasons to attend, here are just five:

1. Learn about the U.S. business and investment climate from senior government leaders.

As the nation’s premier FDI event, the Summit provides a platform to hear directly from policymakers at both the state and federal levels and engage with working level officials.

2. Meet face to face with hundreds of economic development organizations and thousands of potential investors in one place.

By bringing global business and the geographic diversity of the United States together in one place and offering ample booth space and individual meeting rooms, the Summit enables participants to complete weeks of work in a matter of a few days.

3. Connect efficiently: Online and on-site matchmaking make it easy to meet the right people and get the most out of your visit.

Through online matchmaking, longer exhibition hall hours, a meeting room booking system, and a robust collateral events calendar, Summit participants have numerous opportunities to connect and engage.

4. Learn about resources and tools to invest in the United States.

In the U.S. Government Pavilion, participants can directly engage with representatives from SelectUSA and other agencies and learn about federal programs and services – from official economic and demographic statistics to visa and customs procedures, workforce development, supply chain, and research and development programs.

5. Gain new perspectives from top-level executives and industry leaders.

Attracting global visionaries and local experts willing to share their paths to success, participants gain direct insight on how to move forward with a smart investment in the United States.

The Summit is more than a networking opportunity: It’s the must-attend FDI event of the year. We invite you to Grow With US this June.

For more information and to register, please visit the http://www.selectusasummit.us. Join the conversation on Twitter with

#SelectUSASummit and #GrowWithUS17.
If you aren’t able to attend the SelectUSA Investment Summit, we are standing by to assist all year. Please visit http://www.SelectUSA.gov or contact us to learn how we can help investors and U.S. economic development organizations with business investments in the United States.

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European FDI in the United States

April 19, 2017

Michael Jarand is an Investment Analyst in the International Trade Administration’s SelectUSA Program.

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

Hannover Messe – the world’s leading industrial technology trade show – is quickly approaching and SelectUSA will be in attendance! As outlined by Jana Dorband in a previous blog post, Hannover Messe is a great opportunity to interact with thousands of potential investors.

In light of Europe’s longstanding role as a top investor in the United States, here are some highlights from Bureau of Economic Analysis (BEA) data on foreign direct investment (FDI) from the region.

European FDI is Large and Growing    

 

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Table 1: European FDI in the U.S. (in billions of dollars)

The latest available 2015 BEA data show a continued strong investment relationship with European investment partners. European FDI totaled $1.92 trillion in 2015, accounting for 61.2 percent of total foreign investment into the United States. Despite the fact that Europe’s total share of FDI into the United States shrank from 63.4 percent to 61.2 percent — reflecting the growing role Asian markets play in global investment — European FDI was $375 billion higher in 2015 than 2011.

The five European countries with the most investment in the United States by ultimate beneficial owner (UBO) are the United Kingdom ($569 billion), Germany ($319 billion), France ($251 billion), Ireland ($200 billion), and Switzerland ($144 billion).

European Investment Greatly Benefits the US Economy

 

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Table 2: European investment impact, 2014

Employment

In 2014, FDI from majority European-owned firms was responsible for 4.1 million direct jobs in the United States, about 65 percent of the total FDI-supported jobs. Like the FDI jobs previously discussed in this blog, these are high-impact jobs with an average annual compensation of $81,235.

Research and Development (R&D)

European firms are the largest foreign spender on research and development (R&D), enhancing U.S. global competitiveness. In 2014, U.S.-based affiliates of majority foreign-owned firms spent nearly $57 billion on R&D activities in the United States. Of this amount, $42 billion came from European firms, making up nearly 74 percent of the total.

Exports

Linkages between trade and investment also show up in European FDI. Exports of goods shipped by majority foreign-owned affiliates increased in 2014 to more than $425 billion. European firms made up $228 billion of this amount, almost 54 percent of the total.

European Multinationals Are Embracing Investment as an Alternative to Exporting

As outlined above, European investment is obviously beneficial to the U.S. economy – providing capital, high paying jobs, R&D spending, and exports. Investment is also beneficial for European firms, whose affiliate sales in the US make up a large part of their global portfolio. Increasingly, it appears that foreign direct investment and sales via affiliate companies is becoming the main mode of transatlantic business.

As shown in Figure 1, from 1999 to 2014, both U.S. imports of goods and services from the EU and sales of EU country-owned affiliates more than doubled. Imports of goods and services went from $270 billion to $595 billion, while EU country affiliate sales went from $947 billion to more than $2 trillion. If this trend continues, cross-border investment will continue to outpace traditional exports and imports.

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Figure 1: EU Country Affiliate Sales and U.S. Imports of Goods and Services from EU

What’s Next?

Come visit us at Hannover Messe in the U.S. Investment Pavilion in Hall 3, from April 24 – 28th. We look forward to meeting you, and will be available for walkthroughs of SelectUSA client services and data tools!

This and other data are available in our SelectUSA Stats data visualization tool, including data by state and by industry. A national level overview of FDI data is available on the SelectUSA website along with updated country and state factsheets.

For more information on FDI data and SelectUSA services, please send an email to info@selectusa.gov.

 

 

 

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Global CEOs Continue to Show Confidence in the United States as a Business Destination

April 18, 2017

Fred W. Volcansek, Sr., is the Executive Director of the U.S. Department of Commerce’s SelectUSA Program.

For the fifth year in a row, global business executives have named the United States as the top destination for business investment, according to A.T. Kearney’s Foreign Direct Investment (FDI) Confidence Index.

This is excellent news, because FDI creates jobs and contributes to economic development across the United States. It is a direct reflection of the appeal of the U.S. economy and how it enables businesses of any size to access a consumer base of 325 million citizens, employ a productive workforce, and take advantage of a culture of innovation.

As excited as I am to share this great news from A.T. Kearney, I’m more excited about what is to come as we create an increasingly business-friendly environment in the United States. As the Trump administration establishes pro-growth policies including trade reform and tax simplification, I expect CEOs to show even more recognition of the promise of investing in the United States.

As businesses continue to target the United States as the launch pad for global growth, our SelectUSA team will be there to support through services such as market research, counseling, and navigating the federal regulatory environment. There is no program better positioned to support economic growth in the United States than SelectUSA.

For companies considering their next investment destination, and for economic development teams looking to attract job-creating business investment, there is no better place to connect than the SelectUSA Investment Summit in June. The actions we are taking to create a period of economic revival in the United States will be on full display, as will many of the nation’s top investment opportunities.

I hope you will join us at the Summit to find growth opportunities and learn about why the United States continues to be a great place to invest.

My thanks to all the organizations and entities that support economic development throughout our great nation, helping make the United States such an appealing business location. Let’s continue to work together to create opportunity for workers and businesses across America.

 

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Initiative to Facilitate Data Flows in Asia Scores Big Wins

April 18, 2017

Michelle Sylvester-Jose is an International Trade Specialist at the International Trade Administration

The ability of U.S. businesses to transfer data across borders received a big boost last month as Singapore, Chinese Taipei and the Philippines communicated their plans to join the Asia-Pacific Economic Cooperation (APEC) Cross-Border Privacy Rules (CBPR) system. The three economies join South Korea, which submitted its Intent to Participate earlier this year. With these new additions, the CBPR system will cover over a half billion Internet users.

Once implemented, companies across all sectors in the United States will be able to benefit from uninterrupted data flows in these markets, enabling them to sell more goods and services and support American jobs. As these economies take the next steps towards participation in the CBPR system, the Department of Commerce will continue its work to encourage additional APEC economies to join, expanding markets in the Asia-Pacific region where the CBPR system will be available for use by U.S. businesses.

Since APEC leaders first endorsed the CBPR system in 2011, Canada, Mexico, the United States, and Japan have joined the system. The APEC CBPR system was developed by the 21 APEC member economies in consultation with industry and civil society to build consumer, business and regulator trust in cross border flows of personal information. The APEC CBPR system requires participating businesses to develop and implement data privacy policies consistent with the APEC Privacy Framework. Participation in the CBPR system is voluntary, but once an organization joins and certifies to the principles, its commitments are legally enforceable. Beyond facilitating data transfers across borders, the CBPR system increases privacy protections to the benefit of consumers and provides companies with a mechanism to demonstrate strong privacy protections and a basis upon which to build a global compliance system.

For more information and updates on the Department of Commerce’s work on the APEC CBPR System, contact Michael Rose (Michael.Rose@trade.gov) or Andrew Flavin (Andrew.Flavin@trade.gov).

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Department of Commerce Releases Report on Miscellaneous Tariff Bill Petitions

April 17, 2017

Morgan Barr, Office of Trade Negotiations and Analysis in ITA’s Industry & Analysis Division

On April 10, U.S. Secretary of Commerce Wilbur L. Ross, Jr., released the Department’s report on petitions submitted to temporarily reduce or suspend the tariffs paid on particular imported products. With this report, Commerce completes an important step in the new process outlined by Congress in The American Manufacturing Competitiveness Act (AMCA) of 2016.

When more than 2,500 petitions were submitted to the U.S. International Trade Commission (USITC) at the end of 2016, Commerce got to work on its review.  Commerce’s International Trade Administration (ITA) and the U.S. Department of Agriculture’s Foreign Agricultural Service were charged with determining whether or not domestic production of the article that is the subject of each petition exists and, if so, whether a domestic producer of the article objects to the petition.  Commerce also reviewed all submitted public comments.  An ITA team also reviewed each petition to identify any possible overlap with antidumping duty (AD) and countervailing duty (CVD) orders.

In addition, Commerce worked with U.S. Customs and Border Protection to incorporate its comments concerning any technical changes to the petitions’ article descriptions that are necessary for purposes of customs administration upon importation.

Under the AMCA, the USITC will take the Commerce report into account before making its final recommendation to Congress on whether a requested product should be included in Miscellaneous Tariff Bill (MTB) legislation. The USITC will deliver its preliminary report on MTBs to Congress in June.

The Commerce report can be found at http://trade.gov/mtbs

Additional information on the MTB process can be found at https://mtbps.usitc.gov/external/

 

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Companies from 15 Countries Expanded in Oakland County, Michigan in the Metro Detroit Region in 2016

April 13, 2017

More than 40 percent of total job-supporting investment came from foreign-owned firms.

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.

Located in the heart of the Metro Detroit region, Oakland County, Michigan, has long been a community open and inviting to foreign direct invest (FDI) from around the world. This investment supports nearly 6.4 million U.S. jobs, and over 200,000 jobs in Michigan, making it a great driver of growth in our state.susa

FDI has traditionally come from the automotive industry, with 75 of the top 100 global tier 1 automotive suppliers making Oakland County their North American home. Now with the mobility movement and the exciting autonomous vehicle technology being developed here in the region, Oakland County is seeing companies from new technology sectors looking to locate into our community.

Today, new FDI is coming from multiple sectors, including:

  • Automotive / Mobility;
  • Healthcare technology;
  • Information technology;
  • Defense; and
  • Advanced / Light-weighting materials sectors.

Our county is home to over 1,000 foreign-owned firms from 39 countries, which could easily compare to many U.S. states. Last year we saw companies from these 15 countries make our community their home or expand their operations here:

Australia                Germany                Japan                           Norway

Canada                   India                       Korea                           Spain

China                      Ireland                   Mexico                         Switzerland

France                    Italy                        Netherlands

Having had a strong FDI strategy for over 20 years, we have gotten to fully understand what companies need in order to be successful in the USA, and we give the companies a chance to “try us out” before making a commitment. Our International Business Center (IBC) at Automation Alley (the region’s technology consortium) and the OU Inc business incubator at Oakland University are both Certified International Soft Landing Centers. Businesses can locate here for three months free of charge while they test out the U.S. market and the Oakland County location. My team and I work with them on building their business in our region and making important connections for them in their industry, helping them understand what we already know: that there’s no place better to invest than the United States.

Michigan has a great business case for all companies, including a talented workforce, great business support, and a diverse economy. When you look at the technology that comes out of Oakland County, it’s no wonder the US Patent office opened its second location in our region. Technology and innovation are clearly seen in every industry here in Southeast Michigan.

The great success we have had in our FDI work has created numerous benefits for the community. Not only do foreign-owned firms create thousands of jobs in the region and help grow our economy, the new investments have also helped bring various cultural assets to our community. These include several dynamic ethnic business chambers, including:

  • Sweden American Chamber of Commerce;
  • Irish American Chamber of Commerce;
  • German American Chamber of Commerce;
  • French American Chamber of Commerce;
  • Italian American Association of Business & Technology (IAABT);
  • Japanese Business Society of Detroit; and
  • Detroit Chinese Business Association.

We have the largest Japanese School in the United States, one of the most prized Chinese art collections, top rated French and German schools, and we have one of the largest bocci ball stadiums in the world for our Italian residents. These cultural assets are imperative to the quality of life for all our residents.

SelectUSA has been a great partner of ours in our FDI success. From the online tools available to us, to the SelectUSA staff that specialize in different regions of the world, we rely on our partners regularly. We work with them closely to understand the markets we are interested in and to help us successfully recruit investment from those markets. The SelectUSA Investment Summit is a “must attend” event for us. In the last two years, we’ve gotten over 10 leads and 4four successes from our participation. We’ll be there again in 2017, and we hope to see you there!

For information on Oakland County, Michigan, contact us at Info@advantageoakland.com or through our website: www.AdvantageOakland.com