Posts Tagged ‘investment’

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Partnering to Continue U.S. Export Growth in China

May 7, 2014

Eric Wolff is the Deputy Principal Commercial Officer at the U.S. Consulate General in Shanghai.

Ken Jarrett and Judy Reinke sign the Memorandum of Understanding at the Department of Commerce.

AmCham Shanghai President Ken Jarrett and Deputy Director General of the U.S. and Foreign Commercial Service Judy Reinke sign the Memorandum of Agreement at the Department of Commerce.

When you are speaking for American businesses in East China, it’s great to have a good set of partners by your side.

That’s why it’s so important that the International Trade Administration (ITA) signed a Memorandum of Agreement with the American Chamber of Commerce—Shanghai. Our teams will cooperate on initiatives to help American businesses succeed in East China, one of the hubs of the country’s growing economy.

We will share resources to help American companies find the most qualified partners in the region and make sure that U.S. business leaders know about every important opportunity to do business here. We’ll also work together to support Chinese investors looking for investment opportunities in the United States.

American business leaders have long known that East China represents an outstanding business market for U.S. companies, which is why AmCham Shanghai was one of the first AmChams founded outside the United States.

As we sign this agreement, China is a more promising market than ever.

U.S. exports to the country have increased by more than 75 percent since 2009, reaching a record $122 billion in 2013. The growing middle class has helped create a remarkable increase in U.S. auto exports to China.

The signatures make it official! The Memorandum of Agreement between ITA and the American Chamber of Commerce in Shanghai formalizes our cooperative efforts supporting U.S. businesses in East China.

The Memorandum of Agreement formalizes the partnership between the International Trade Administration and the American Chamber of Commerce in Shanghai.

Actually, transportation equipment exports overall have risen dramatically in recent history, along with sectors like chemicals and wood products.

Signs point to this trend of growth continuing. China’s economy continues to grow, and consumers around the country continue to seek out high quality, American goods.

Factor in the U.S. government’s continued emphasis on supporting American companies here, demonstrated by ITA’s opening of a new office in Wuhan and an increase in personnel throughout the country, and you have a recipe for a bright future of economic opportunity.

I very much look forward to the partnership between AmCham Shanghai and ITA, and I know that working together, we will really see some great success stories.

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Houston, We Have a…Conference!

April 25, 2014

Austin Redington is a Communications Specialist with the SelectUSA Program.

The U.S. energy sector is a hot topic, from renewable energy to the high-tech recovery of natural gas to the exploration of untapped resources. With so much buzz – and significant investment inflows – this year’s Offshore Technology Conference (OTC) in Houston, Texas from May 5-8, promises to be both timely and exciting.

Naturally, the International Trade Administration (ITA) will be there, and we hope to see you there too!

OTC 2014, which is supported by ITA’s International Buyer Program, is a leading international trade show focusing on opportunities in the fields of drilling, exploration, production, and environmental protection.

For attendees, ITA will be onsite offering services to international and U.S. investors, U.S. exporters, and international buyers. Here’s a brief look at what we’ll be up to:

  • For investors & U.S. economic development organizations: SelectUSA, the U.S. investment promotion program, will be hosting a “Build Your Business in the United States” lunch symposium, as an opportunity for attendees to meet federal and regional partners. The event will offer a case study about the U.S. investment climate, resources, and services. Attendees will also learn best practices from companies that have already invested. Register here by April 29th.
  • For exporters and buyers: We’re also offering our B2B Matchmaking service, which connects U.S. suppliers with interested international buyers. We recruit and screen each international buyer through our network of U.S. Embassies and face-to-face meetings to ensure the highest likelihood of connecting the “right” partners. Companies interested in engaging in this service are encouraged to sign up (click here for more).
  • For U.S. exporters: Our Global Markets team will be offering export counseling meetings and country-specific information. U.S. exporters will have the opportunity to meet one-on-one with our U.S. Embassy oil and gas industry specialists. Team members from 25 embassies will be available: Algeria, Argentina, Belgium, Brazil, Cyprus, Egypt, Ghana, India, Indonesia, Kazakhstan, Kuwait, Libya, Malaysia, Mexico, Nigeria, Norway, Oman, Qatar, Romania, Saudi Arabia, Singapore, South Korea, Thailand, Ukraine, United Arab Emirates. Representatives from the Small Business Administration and Export-Import Bank of the United States will also be on site.

ITA experts will be offering country briefings and procurement seminars. Stop by to learn about deep water exploration in Colombia or about oil and gas opportunities in Ghana.

As you can see, it will be a busy and interesting week full of opportunities to learn, meet, share, and connect. If you’re planning on going, we hope you’ll stop by and see us!

For more information on OTC 2014, go to the OTC 2014 website.

Further details on our OTC presence can be found on the Houston, Texas U.S. Export Assistance Center’s website. 

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Driving German FDI – the U.S. as a Manufacturing & Distribution Hub, and an Export Platform

April 24, 2014

Amy Zecha is an International Investment Specialist with SelectUSA. Her portfolio covers Central and Eastern Europe, including Germany.

This post originally appeared on the Department of Commerce blog.Inward foreign direct investment (FDI) stock totaled $2.7 trillion in 2012, a 6 percent increase from the prior year, which equals the average annual growth rate between 2001-2011.

SelectUSA just finished another successful event at the Hannover Messe manufacturing trade fair – the largest in the world – and now we’re gearing up for another big event in Germany. In September, we’ll be participating in Automechanika, a global trade show for the automotive industry. We hope you’ll join us!

It’s been a great couple of months for German investment in the United States, and we’ve had some exciting news in the auto industry. In a post last month, ITA’s Tradeology blog highlighted some impressive figures – including the 115% growth in U.S. auto exports of passenger vehicles between 2009 and 2013.

It is therefore no surprise to see international automakers – such as Germany’s BMW – continue to grow their U.S. manufacturing operations. At the end of March, Commerce Secretary Penny Pritzker joined BMW officials and others in Spartanburg, SC in celebrating the start of production of the X4 – and the announcement of the brand new X7. The addition of this model line will make Spartanburg BMW’s largest manufacturing facility in the world.

BMW, as a business, knows the value of manufacturing in the United States, and also the advantages of using the U.S. as an export platform. Today, BMW is one of the top auto exporters in the United States. More than half of all the cars produced by BMW at their Spartanburg plant are shipped to other markets beyond our borders. BMW has clearly harnessed the power of U.S. manufacturing and successfully coupled it with the export opportunities offered by U.S. trade agreements to maximize the potential of their U.S. operations.

This is just one case study of German success in the U.S. market. Success comes in many sizes – sometimes it’s the small or medium-sized enterprise (SME) that makes the commitment to the United States, like PTF Pfuller, a manufacturer of precision parts and assemblies for the semiconductor, food, medical technology, laser and aerospace industries. The CEO, Mr. Oliver Zintl spent two years working with Jenny Trick of Racine County Economic Development Corporation, after an initial meeting at the USA Investment Center organized by SelectUSA and CS Germany at Hannover Messe 2011. PTF established its U.S. division in Sturtevant, Wisconsin in August 2013 with initial plans to start with a small sales staff – but then noted the potential to add manufacturing and a distribution center within five years, creating at least 50 jobs. PTF cited the tremendous work of Racine County and Milwaukee 7 (a regional economic development organization), as well as the central location, access to existing customers in the region, and the quality of theGateway Technical College – which offers the potential for a nearby source of talent for the company.

These are two great case studies of German-owned companies setting up shop or expanding existing ones in the United States – and further evidence of why SelectUSA has identified Germany as a key focus market for FDI attraction. German investment in the U.S. accounts for over 10 percent of all FDI in the country, a significant figure when taken into account that the U.S. is the largest recipient of FDI in the world. In an effort to support this continued economic relationship, SelectUSA is already planning events in Frankfurt in conjunction with Automechanika in September.

This is just part of a great line-up of events SelectUSA has planned for the rest of the year. Stay tuned for more details around Automechanika and other events – and make sure to sign up for our free online newsletter to stay up to date on all our latest events!

To learn more about SelectUSA and our global programs for both EDOs and international investors please visitwww.selectUSA.gov or follow us on Twitter at @SelectUSA.

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SelectUSA: Investing in the United States, Creating Jobs, and Spurring Economic Growth

April 10, 2014

This post originally appeared on the White House blog.

Jeff Zients is Director of the National Economic Council and Assistant to the President for Economic Policy. Secretary Penny Pritzker is the Secretary of Commerce.

Commerce Secretary Penny Pritzker and Puerto Rico Governor Alejandro Garcia Padilla join Lufthansa's August Wilhelm Henningsen and German Ambassador Peter Ammon in a signing ceremony for an agreement to create a new Lufthansa Aviation Facility in Puerto Rico.

Commerce Secretary Penny Pritzker and Puerto Rico Governor Alejandro Garcia Padilla join Lufthansa’s August Wilhelm Henningsen and German Ambassador Peter Ammon in a signing ceremony for an agreement to create a new Lufthansa Aviation Facility in Puerto Rico.

Today, Lufthansa Technik announced a significant new investment in Puerto Rico that demonstrates how efforts to deploy the full resources of the federal government to win job-creating investments in U.S. states and territories pay off. Through the advocacy of several high-level U.S. officials, including the Vice President and the Secretary of Commerce, as well as the work of SelectUSA, the government of Puerto Rico was able to secure this new investment, which will create up to 400 permanent jobs and strengthen Puerto Rico’s burgeoning civil aviation sector.

Lufthansa Technik, a wholly owned subsidiary of Germany-based Lufthansa AG, is making a significant new investment in Puerto Rico to build a maintenance, repair, and operations facility. Thanks to the persistent support of the Administration through our SelectUSA investment initiative, local efforts led by Governor Garcia Padilla of Puerto Rico, and the strengths of Puerto Rico’s growing aviation industry, the United States won this new investment despite strong competition.

SelectUSA – launched in 2011 and housed in the Department of Commerce – is the first-ever federal effort to bring job-creating investment from around the world to the United States in partnership with state and local economic development organizations. Today, Ambassador-led teams at our posts overseas directly support foreign investors looking to make investments in the U.S. by providing resources and information, and when needed, connecting them to investment experts at the Department of Commerce and throughout the SelectUSA interagency network.

Each investor, and investment case, gets tailor-made attention from our case managers at SelectUSA, who rely on ombudsman efforts to answer questions, as well as a sophisticated advocacy network that leverages key Administration officials all the way up to the President of the United States. Lufthansa is a perfect example of our coordinated efforts to bring job-creating investment here to the United States. In addition to Vice President Biden and the Secretary of Commerce and her team, SelectUSA involved other key federal officials, and coordinated with several federal agencies to provide the needed assistance to secure the project. And, when it came time to seal the deal, SelectUSA coordinated an effort across the federal government, including the support of the President’s Taskforce on Puerto Rico, to present Lufthansa with the case for locating their investment in the United States.

The Lufthansa investment is yet another example that demonstrates that the United States is an increasingly attractive location for job-creating business investment from around the world. Last year, for the first time in a decade, global business executives ranked the United States the number one destination for foreign investment. And the Department of Commerce released new data showing that foreign direct investment flows into the United States and our territories rose from $160 billion in 2012 to $187.5 billion in 2013.

With our booming natural gas sector, our skilled workforce, our status as home of the some of the top research universities and innovation hubs, and our resurgent manufacturing communities, the United States is primed for business investment. Businesses increasingly cite the U.S. open investment climate, rule of law, the ability to efficiently export their goods, access to high-quality supply chains, and proximity to robust consumer markets as key factors to locate their operations in the United States. And now, with the help of SelectUSA, the federal government is undertaking a coordinated and concerted effort to showcase our strengths and make the case with even more investors that the United States should be their top choice.

To put it simply, the United States is Open for Business.

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Join the Conversation on Investment

April 9, 2014

Vinai Thummalapally is the Executive Director of the SelectUSA Program. 

Vinai Thummalapally is the Executive Director of the SelectUSA program

This post originally appeared on the Department of Commerce blog.

This month, SelectUSA is really upping our game when it comes to online engagement around investment.  We hope you’ll join the conversation on Twitter at #SelectUSA!

Our colleagues across the Commerce Department will be sharing their thoughts on how innovation, data and hard work contribute to job creation. We’re collaborating with our friends at the State Department’s Economic & Business Affairs Bureau, as well as with our Commerce and State colleagues throughout the United States and globally at our embassies and consulates.

But we’re not stopping with Commerce and State. We’re reaching out across the U.S. federal government through the Interagency Investment Working Group (IIWG), to more than twenty other agencies.  (You can find all of our Commerce and IIWG twitter profiles here.)

This is a big conversation, but most importantly, we hope to be hearing from YOU.

We’re broadening the conversation at #SelectUSA to talk about how investment in the United States drives job creation and how we can work together to attract even more jobs.

Did you know that, as of 2011 (the most recent data available), U.S. subsidiaries of foreign companies employed more than 5.6 million workers and paid an average annual salary of $77,600?  According to preliminary estimates from the Bureau of Economic Analysis, foreign direct investment (FDI) inflows totaled $187.5 billion in 2013, rising from $160.1 billion in 2012.  The United States also recently took back the top spot in A.T. Kearney’s FDI Confidence Index.

What do these numbers mean to you?  Are you an investor looking to expand your operations in the United States?  Are you seeking to attract more investment to your town, city, county or state?  How can SelectUSA assist you?  

We offer services to U.S. and international investors, as well as to U.S. economic development organizations (EDOs.)  If you need information on the U.S. investment climate, related federal resources, and the latest trends – we’re happy to help.  Are you looking for the right contact at the state or local level?  Could you use some assistance on the ground in more than 120 countries?  Do you have a question or problem related to investment and federal rules or regulations?  We’re here to help you get the answers you need.

Tell us what you think on Twitter by following us at @SelectUSA and using the hashtag #SelectUSA.  What are your challenges?  What are your successes?  How is your company creating jobs by investing in the United States?  How is your location attracting investors and jobs?

We look forward to hearing from you at #SelectUSA!

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German FDI in the United States – Investor Confidence on the Rise

April 3, 2014

Amy Zecha is an International Investment Specialist with SelectUSA. Her portfolio covers Central and Eastern Europe, including Germany.

Image shows two businessmen meeting face to face. Are you an international investor based in Germany? Meet with SelectUSA representatives and U.S. states, cities, and counties to find new investment opportunities!

Are you an international investor based in Germany? Meet with SelectUSA representatives and U.S. states, cities, and counties to find new investment opportunities!

Ranking as the third largest investor in the United States, Germany plays an important role in the U.S. economy with more than 10 percent of all FDI in the country.  Of the $2.7 trillion in FDI stock recorded in 2012, Germany accounted for more than $272.2 billion. SelectUSA has identified Germany as a key focus market and will lead multiple delegations of economic development organizations (EDOs) to Germany throughout the coming year, including groups to Hannover Messe in April, and Automechanika in September.

The German American Chamber of Commerce does an annual survey of German-owned subsidiaries in the United States called the German American Business Outlook. This report indicated there was a five-year high in investor confidence, with 98 percent of German firms in the United States expecting to see business growth in 2014. This level of confidence is reflected by the 31 percent of respondents planning the launch of new product lines and 75 percent anticipating making new hires for the coming year.

Survey respondents expressed some concerns about the lack of a skilled workforce in the United States, but still remained positive about the overall outlook in 2014. This upbeat outlook may be due in part to the various efforts by both the United States and Germany to address workforce issues, including the German Skills Initiative.

This collaborative effort between the German Embassy and the U.S. Department of Commerce focuses on bringing the German dual-track vocational training to the United States, concentrating on areas where high-skilled manufacturing clusters are located. The program matches German and American businesses with educational institutions to help create workforce training programs that will help produce workers with the specific skill sets demanded by the businesses of today – and tomorrow.

Register now for the Hannover Messe 2014 investment event

The commitment to workforce development and working with the German business community is demonstrated at all levels of the U.S. Department of Commerce. In November 2013, Secretary Penny Pritzker traveled to Munich, Germany to meet with German CEOs interested in establishing facilities (or expanding existing operations) in the United States. During her trip, she visited with business leaders from BMW, Frauenhofer, and iwis Motorsystems to learn more about their best practices for training and apprenticeship programs.

These kinds of relationships and exchanges on best practices will only enhance the attractiveness of the United States to international companies. As future workforce and training initiatives and partnerships come online, we expect to see growing interest in the U.S. market – not just from German companies, but others around the world.

Author’s Note: For potential investors interested in speaking directly to SelectUSA representatives and meet with U.S. states, cities, and counties, we will be hosting the USA Investment Center at Hannover Messe 2014. To schedule an appointment, please visit http://selectusa.tema.de/.

To learn more about SelectUSA and our global programs for both EDOs and international investors please visit www.selectUSA.gov or follow us on Twitter at @SelectUSA. 

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From Westerns to Dance Dramas, U.S. Filmmakers Pitch Their Projects to Chinese Investors

April 2, 2014

Marsha McDaniel is a Commercial Officer at the U.S. Consulate for Hong Kong and Macau.

Our team met with U.S. film producers and Chinese investors at Hong Kong Filmart to support investment.

Our Commercial Service team met with U.S. film producers and Chinese investors at Hong Kong Filmart to support investment in upcoming projects.

What do cowboy shows, hip hop dancer dramas, and adventure thrillers have in common? These are some of the exciting projects that U.S. filmmakers pitched to Chinese investors during SelectUSA’s debut at Hong Kong’s Filmart, Asia’s largest film and media trade show and the third largest film industry trade show in the world.

Commercial Service staff at the U.S. Consulates in Hong Kong and Guangzhou jointly organized this first-ever SelectUSA event at the trade show. The event, which was titled “China’s Pearl River Delta: Opportunities to Finance U.S. Productions” introduced investors to some of the exciting projects that U.S. filmmakers are currently developing.

A Captivated Audience

Five independent U.S. production companies presented a broad range of film projects to a captivated audience of roughly 30 investors. Audience members were clearly excited as U.S. filmmakers pitched numerous movie and television ideas, all with significant revenue potential.

According to Scott Shaw, Senior Commercial Officer at the U.S. Consulate in Hong Kong: “It is an exciting time for U.S. and China movie producers to work together as U.S.-China co-production benefits both the U.S. and Chinese film industries.”

Jim Rigassio, Principal Commercial Officer at the U.S. Consulate in Guangzhou, China, noted: “From a diplomatic perspective, activities such as this help to bring our two countries closer together, and I hope to see more U.S.-China coproduction in the future.”

Filmmakers: Opportunity to pitch in 2015

Based on the fantastic feedback from participants, Commercial Service teams in Hong Kong and Guangzhou will explore hosting a similar event at the 2015 Filmart show in Hong Kong. U.S. filmmakers with an interest in seeking investment and co-production opportunities are encouraged to get in touch with our Commercial Service staff to learn more.

This was the first of many events that will be organized under the Commercial Service’s Pearl River Delta Initiative, which aims to assist U.S. companies tap into south China’s $1 trillion dollar economy.

How else can we help you?

SelectUSA, along with our teams in Hong Kong and Guangzhou, work with investors and U.S. economic development organizations to facilitate investment into the United States. We provide information and counseling, help you connect to the right people, and serve as an ombudsman to resolve issues related to the federal regulatory system. We also create platforms, such as our upcoming Pearl River Delta Road Show, to bring investors and economic developers face to face.

If you have questions about foreign investment or if we can help you at all, visit the SelectUSA website for more information!

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Bringing Lessons Home From Korea

March 26, 2014
SelectUSA Director Vinai Thummalapally speaks to investors in Korea about services available through the SelectUSA program.

SelectUSA Director Vinai Thummalapally speaks to investors in Korea about services available through the SelectUSA program.

Vinai Thummalapally is the Executive Director of the SelectUSA Program.

South Korea is currently the 16th largest and 14th fastest-growing source of investment in the United States.

That investment has grown rapidly – at a compound annual growth rate of 14.9 percent from 2008 to 2012. The U.S. subsidiaries of Korean companies directly employ more than 32,000 people in the United States, contributing almost $60 billion to the U.S. economy.

These firms export almost $9.7 billion worth of goods from the United States.

Those are great numbers, and we want to see them continue to grow.

To that end, I am excited to announce that our Commercial Service team in Seoul, Korea is hosting a Road Show event on Friday, May 16 – the week before an already announced Japan Road Show. The events will provide an opportunity for U.S. economic development organizations to connect with Korean companies interested in investing or increasing their investment in the United States.

Update: Want more SelectUSA information?  Sign up for our newsletter!

I recently returned from a trip to Seoul, Korea, where I had the pleasure of meeting with our team at the U.S. Embassy, our partners in the Government of the Republic of Korea, and investors who are interested in setting up shop in the United States. Together we traveled to different companies in Korea to get feedback and talk about their experiences working with the U.S. I also enjoyed sitting down with investors and trade associations to talk about SelectUSA and its services for helping companies expand investment in the U.S. These conversations help inform programming so that participants get the most out of events like the upcoming road shows.

While in Seoul, I joined U.S. Ambassador Sung Kim and Senior Commercial Service Officer Jim Sullivan to welcome officials from Hankook Tires and congratulate them on their announcement of the firm’s first U.S. manufacturing facility in Clarksville, Tennessee. The company is investing more than $800 million in the new plant, which is expected to create approximately 1,800 full-time jobs.

We also met with Samsung to learn more about its significant investments in the United States, including its recently announced project to build a new Silicon Valley R&D Center in Mountain View, California.

Another stop included the Korea International Trade Association (KITA), which represents more than 71,000 companies. We had the opportunity to talk with some of their members about President Obama’s expansion of SelectUSA, including investor visas and how our interagency team at the U.S. Embassy in Seoul – which includes staff from the U.S. Departments of State and Agriculture – can help them invest in the U.S.

We look forward to working with the states, cities, and regional organizations who take advantage of the opportunities at the upcoming Road Show in Korea.

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Serving the U.S. Business Community in South Africa

October 5, 2009

Jed Diemond has been with the Market Access and Compliance (MAC) division of ITA for almost eight years.  He serves as the Senior International Economist covering the five Southern African Customs Union (SACU) countries – Botswana, Lesotho, Namibia, South Africa, and Swaziland. 

Last month I got to do the most interesting and fun part of my job: I staffed Stephen Jacobs, the acting assistant secretary for MAC, during his trip to Johannesburg and Pretoria, South Africa.  I worked very closely with the Senior Commercial Officer in South Africa, Craig Allen, and his staff on the trip.  Over an intense two days, we had a series of meetings with U.S. companies based in South Africa, South African business and trade promotion organizations, and South African government trade officials.  Our goal was to explore ways to expand the U.S.-South Africa trade and investment relationship.  Some of the themes of the meetings included cooperation on intellectual property rights protection and advancing trade and investment promotion cooperation in the context of a U.S.-SACU trade and investment dialogue that we are trying to jump-start. As the South Africa desk officer, I had the unique opportunity to work with Acting Assistant Secretary Jacobs to shape our message in the meetings and expand my own working relationships in South Africa, which allows me be more effective in my job.

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Asian-Pacific FDI Contributions to U.S. Economy

September 17, 2009

Aaron Brickman has been with the International Trade Administration for over seven years.  He currently serves as the Director of Invest in America; and is responsible for management and coordination of foreign direct investment promotion and related activities of the U.S. Department of Commerce.

As the director of Invest in America, the primary U.S. government mechanism to manage foreign direct investment promotion on the federal level, I’m currently conducting foreign direct investment (FDI) seminars and presentations in Taipei and India.  The long flight from Taiwan to India is a great opportunity to provide an update on the growth of FDI from Asia to the United States.

Invest in America (IIA) recently published a paper detailing the important role of Asian-Pacific direct investment to the U.S. economy.  The report, “Asian-Pacific Foreign Direct Investment in the United States,” focuses on 10 countries and geographic areas that have a large FDI presence in the United States: Australia, China, Hong Kong, India, Japan, Malaysia, New Zealand, Singapore, South Korea, and Taiwan.

Did you know that Asian–Pacific companies currently employ more than 788,000 U.S. workers? That number is equal to the combined working population of Boston and San Francisco. The jobs are high paying, offering on average $68,000 in annual compensation. These firms spend $4.6 billion annually on research and development in the United States and generate $61 billion in U.S. exports. Our report predicts that Asian–Pacific FDI will increase in the United States during the next 10 years, with China and India likely to be significant contributors to that trend.

Companies invest in America because we represent the largest fully-developed single country economy in the world and because our labor pool is one of the best educated, most productive, and most innovative in the world.  We are a global leader in science and technology and a center for innovation.  We reward creativity and we safeguard it by a strong intellectual property rights protection and enforcement regime.

To learn more about Invest in America, global FDI trends and resources or to obtain a copy of the report, visit the office’s Web site at www.investamerica.gov.

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