Posts Tagged ‘SelectUSA Investment Summit’

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America Welcomes the World’s Business

November 12, 2019

By Secretary of Commerce Wilbur Ross

America is where the world does business. It is not difficult to see why: companies expanding here will find a culture of innovation, dedication to hard work, and a high quality of life. From its inception. it has been the job of SelectUSA to encourage companies to benefit from these unmatched and unparalleled advantages the U.S. has to offer.

More formally put, the mission of SelectUSA is to facilitate job-creating business investment into the United States and raise awareness of the critical role that economic development plays in the U.S. economy. One of the primary avenues where this mission is accomplished is through the annual SelectUSA Investment Summit.

Today, I am pleased to announce that registration is open for the 2020 SelectUSA Investment Summit — where companies looking to invest in the United States can learn the skills and make the connections to fuel their business’ growth in America. In 2020, the Investment Summit will take place June 1-3, at the Washington Hilton, in Washington, D.C.

Year after year, the Investment Summit buzzes with energy, creating an environment of entrepreneurship, excitement, and potential. Thousands of people from all over the world come here to gain insight into the business environment, learn of industry trends, and bring business deals to fruition. International delegates connect with economic development organizations (EDOs), all of whom can showcase the unique resources of their states and towns, while service providers exhibit the variety of assistance they can offer to expanding companies.

SWR Ivanka Barbara Humpton -SUSA 2019 registration 1101219

The 2019 SelectUSA Investment Summit welcomed more than 3,100 attendees, including global business leaders, U.S. economic development professionals, and leaders from the top of the U.S. government. Pictured here are Commerce Secretary Wilbur Ross, Advisor to the President Ivanka Trump, and Siemens USA CEO Barbara Humpton.

Additionally, our Academy sessions demystify the process of investing in the United States. Topics range from understanding how to finance a startup company to navigating the U.S. visa process. These sessions are planned with our attendees’ interests in mind, as we accept proposals for topics and speakers to include on the agenda.

The 2019 Investment Summit was the most successful to date, where more than 1,200 international delegates connected with nearly 800 EDO representatives and 300 service providers from nearly every state and territory in the U.S. The Investment Summit has directly impacted more than $32.5 billion in U.S. investment projects supporting more than 38,400 U.S. jobs. At the recent 2019 Investment Summit, four investment announcements were made with a value of nearly $100 million, which will in turn create new jobs for American workers. We hope to build upon these successes.

In 2020, we are excited to help you and your company reach its full potential in the United States at the SelectUSA Investment Summit.

I hope to see you there.

Click here to apply.

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Business Potential Met Business Opportunity at the 2019 SelectUSA Investment Summit

June 20, 2019

Brian Lenihan is the Executive Director of SelectUSA

The 2019 SelectUSA Investment Summit is over, but its impact is just beginning. Last week, thousands of people from all over the world converged on the Washington Hilton in Washington, D.C. to turn business potential into business opportunity. So much happened that I think it’s best to start with the numbers:

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Exhibitors from the Economic Development Partnership of North Carolina greet attendees from the Indian delegation, June 12, 2019

  • More than 3,100 total attendees joined us, including 1,200 global business representatives from a record 79 international markets and over 700 economic development professionals and service providers from 49 states and territories.
  • Four Cabinet secretaries addressed the Investment Summit: Secretary of Commerce Wilbur Ross, Secretary of Housing and Urban Development Ben Carson, Secretary of the Treasury Steven Mnuchin, and Secretary of Energy Rick Perry – all of whom highlighted how each of their departments is working to keep the United States competitive and open for business.
  • More than 3,200 meetings were scheduled and confirmed through the online matchmaking app, meetings that may form the foundation of several investment deals.
  • Three international companies announced U.S. expansions, representing more than 125 new jobs and several million dollars in greenfield foreign direct investment (FDI) in Idaho, Ohio, and Colorado.
  • The Governor of Mississippi announced a $59 million investment by a California-based aerospace company in the Magnolia State.

Beyond the informative sessions, exciting news was made. Ivanka Trump, joined onstage by Secretary Wilbur Ross and Siemens USA CEO Barbara Humpton, announced that more than 65 global companies had committed to creating over 930,000 apprenticeship and training opportunities for U.S. workers as part of the White House’s Pledge to American Workers. “This is not only the right thing to do … it’s good business,” Trump said. “There is a positive return on investment for this continual investment in what is the best workforce in the world.”

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Secretary of Commerce Wilbur Ross moderates a fireside chat on workforce development with Advisor to the President Ivanka Trump and Siemens USA CEO Barbara Humpton, June 12, 2019

The SelectUSA Tech Startup Investment Spotlight was an exciting first for us, an intensive program of pitching sessions and networking designed to connect early-stage startups with U.S. investment opportunities. Forty companies made their pitch to U.S. incubators and accelerators, all with the goal of breaking into the world’s largest market. Three companies were chosen, all winning hours of legal consultations and media training by law firm Green & Spiegel and a business accelerator program in Silicon Valley. The winning companies are: Spanish artificial intelligence platform company Moonshot, Hungarian container manufacturing company Continest, and Israeli food-tech company DouxMatok.

Another first at the Investment Summit was Industry Row, where associations not only had the opportunity to exhibit and network with attendees, but to also present a 30-minute “State of the Industry” presentation for investors and EDOs alike.

Four different companies made news for another reason: investment projects valued at almost $100 million were announced in four states. Italian manufacturer Modula will invest $26 million in Franklin, Ohio to establish operations and create 100 jobs. Taiwan-based dairy product manufacturer Jetton Biochemistry Co., Ltd. chose Nampa, Idaho as the location of its next plant, a $2 million project that will create 25 jobs. Australian freight company MyFreight announced that it would invest $500,000 to establish operations in Denver, Colorado, part of an effort to duplicate its $40-million success from Down Under to the United States. Mississippi Governor Phil Bryant announced that California-based aerospace company Relativity Space will invest $59 million and create nearly 200 jobs at NASA’s Stennis Space Center in Hancock, Mississippi.

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Secretary of Commerce Wilbur Ross and Advisor to the President Ivanka Trump join more than 65 global companies to sign the Pledge to America’s Workers, June 12, 2019

It was an honor (and a thrill) to experience this international excitement firsthand. SelectUSA is the embodiment of the U.S. government’s commitment to creating an open, welcoming, and competitive business environment. It’s a program whose core mission is to promote job-creating FDI. The SelectUSA Investment Summit continuously delivers on that mission.

As I look back on another successful Investment Summit, I look forward to the American jobs that will be created as a result. To the world’s business investors, I say: The United States is open for your business, and SelectUSA is here to make sure you have the information and resources needed to invest and succeed here. To America’s hard-working economic developers, I say: Thank you for consistently—and expertly—driving investment into the United States – SelectUSA is here to assist you.

Thank you.

Learn more about SelectUSA and its services by visiting www.selectusa.gov. Stay in the SelectUSA know by signing up for email updates and following @SelectUSA on Twitter.

 

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US Senators Manchin and Capito Invite Global Business Leaders to Attend SelectUSA Investment Summit and Discover Why West Virginia is the Right Choice for Global Companies

June 7, 2019

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

Sara B. Dearing is the Executive Director of Discover the Real West Virginia Foundation

West Virginia is the premier location for global companies to expand and relocate. Companies that come to West Virginia are met with a thriving business climate, a dedicated and technically-trained workforce, low cost of doing business, an abundant and inexpensive supply of energy – and unending support from our local, state and federal leaders. manchin-capito_play-button

West Virginia’s U.S. senators not only play a hands-on role when it comes to attracting investment, they are dedicated to ensuring that companies that do invest in West Virginia, succeed.  This unwavering commitment to helping global companies find a home in the Mountain State is why Senators Joe Manchin and Shelley Moore Capito have teamed up to invite global executives to attend the SelectUSA Investment Summit and to join them at the West Virginia Booth (#714) for the State and Local Night Reception on June 11. Additionally, our senators invite business leaders to attend the West Virginia Spinoff Event, June 13-14, in Wheeling, West Virginia.

Here’s just a few reasons for global executives to choose West Virginia:

  • West Virginia is home to 136 global companies (including Toyota, Gestamp, Covestro, Novartis, TransCanada, Sogefi, Safran, and more) representing 30 countries from around the world with a diverse manufacturing base of industries including aerospace, automotive, chemical and polymers, energy, defense, and information technology, to name a few.
  • West Virginia has the strategic advantage of being in a region with the most cost-effective and abundant natural gas in the industrialized world. This region is right in the middle of half the U.S. market, and close to over two-thirds of U.S. polyethylene consumption.
  • West Virginia (located in Shale Crescent USA) is the most profitable place to locate petrochemical and other manufacturing plants. In fact, Yahoo Finance, the US Department of Energy, oilprice.com and others are calling this region “a second U.S. Petrochemical Hub”.
  • According to the American Chemistry Council, the Appalachian Region is uniquely positioned over the next decade to become a major petrochemical hub with the potential to attract $36 billion in new chemical and plastics industry investment.

It’s not just the aesthetic beauty of the state and its abundant natural resources that make West Virginia a great place to do business.  Deep down, it’s the people that make West Virginia a world-class location, and a state dedicated to providing the resources to elevate your company to the next level. Please come and meet our team, including Senators Manchin and Capito, at the SelectUSA Investment Summit, then join us in Wheeling for our spinoff event, and let’s get down to business.

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The 2019 SelectUSA Investment Summit: Ivanka Trump, Larry Kudlow, Tech Startups & More

June 6, 2019

Brian Lenihan is the Executive Director of SelectUSA

The SelectUSA Investment Summit brings global companies together with economic developers from across the United States, all for one purpose – to connect global business to local investment opportunities. I am honored and thrilled to say that this year’s Investment Summit will feature special guests from the White House. Advisor to the President Ivanka Trump and National Economic Council Director Larry Kudlow will provide keynote remarks to more than 3,000 attendees on June 11-12. Both will focus on how business investment and SelectUSA play key roles in America’s economic resurgence.susa graphic

Their inclusion in the program is further evidence of the Administration’s dedication to creating a pro-growth business environment where the world’s companies can flourish. It is also further evidence that the 2019 SelectUSA Investment Summit is the premier business investment event in the United States.

Global companies directly support more than seven million U.S. jobs, and SelectUSA is working to increase that number. But we are also dedicated to working with national and international stakeholders to ensure that American workers are equipped with the skills and education needed to succeed in the 21st century. That’s why Ivanka Trump will join Secretary of Commerce Wilbur Ross and Siemens’ U.S. CEO Barbara Humpton for a panel discussion on workforce development. Later that day, they will join several international business attendees for the signing of the Pledge to America’s Workers, a commitment to expand training and education for the U.S. workforce.

On Monday, the Investment Summit will commence with the Academy, a one-day series of educational panel discussions and presentations designed to get everyone up to speed with the latest trends in foreign direct investment (FDI). These in-depth sessions provide a foundation for attendees, giving them the tools, strategies, and information needed to turn business potential into business opportunity.

The following two days will offer an exciting mix of SelectUSA firsts and mainstage sessions on a wide array of topics: advanced manufacturing, artificial intelligence, workforce development, and more. Executives from Royal Dutch Shell, Siemens, Intel, SoftBank Group, and many more will share their experience and insight. New this year will be several industry-focused discussions between U.S. governors on how their states are working to attract, retain, and grow FDI. Of course, new investments will be announced in the Exhibition Hall as well.

The new features don’t stop there. The first-ever SelectUSA Tech Startup Investment Spotlight will feature dozens of early-stage tech startups eager to jump into the U.S. market. These companies will pitch their products and designs directly to U.S. investors, incubators, accelerators, and economic developers. In other words, it will be a match made in startup heaven.

The involvement of Ivanka Trump and Larry Kudlow and the addition of SelectUSA Tech promise to make this Investment Summit an incredible success. If you are unable to attend this year, I invite you to watch the livestream at SelectUSA.gov/newsroom and follow @SelectUSA on Twitter for on-the-ground updates.

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100 Billion and Counting: A New Milestone from Past Participants of the Investment Summit

May 24, 2019

Brian Lenihan is the Executive Director of SelectUSA

The SelectUSA Investment Summit is the place to be if you want to grow your business into an international enterprise. That isn’t hyperbole – it’s job-creating fact. Participants of past Investment Summits have announced more than $103.6 billion in investments in the United States within five years of attending an Investment Summit. Those projects will create or retain over 167,000 U.S. jobs.”

It’s important to note the time frame here. Businesses from around the world come to the SelectUSA Investment Summit to explore the business climate, learn about opportunities, and make connections. Within five years of attending, they’ve announced billions in new projects. That speaks to the quality of companies that come to the Investment Summit, the strength of the U.S. business climate, and the incredible work that economic development organizations do to facilitate investment.

This June 10-12, business investors from around the world will meet at the Washington Hilton in Washington, D.C. to connect directly with economic developers and service providers from across the United States. In addition to hearing from global CEOs and thought leaders in the economic development sphere, they’re traveling to D.C. to turn business potential into business opportunity.

Last year’s Investment Summit saw $600 million in new investment announcements, representing hundreds of new American jobs. One of those companies, Indian steel manufacturer JSW, announced its plans to build a $500 million facility in Mingo Junction, a town of just 3,300 people in eastern Ohio. That investment alone has the potential to transform the town’s economy and job market. JSW’s investment is emblematic of the impact of foreign direct investment (FDI) in the United States.

Confidence in the U.S. market is at an all-time high. Executives from global companies recently confirmed this in the 2019 FDI Confidence Index from A.T. Kearney. This year’s ranking marks the seventh year in a row that the United States has topped the index. “The United States marks its longest-ever run at the top of the Index this year,” A.T. Kearney noted. “likely reflecting its large domestic market, continued economic expansion, competitive tax rates, and technological innovation capabilities.”

I invite you to join us next month. You’ll see why A.T. Kearney continues to rank the United States as the best place in the world to do business. Coming to the Investment Summit isn’t just window shopping. There are actual opportunities here that a business can act on, and there are more than 100 billion pieces of evidence of that.

Visit www.selectusasummit.us for more information and follow @SelectUSA on Twitter for the latest updates on the Investment Summit.

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Building on Success: North Carolina Opens New FDI Office in India

May 22, 2019

Christopher Chung is the Chief Executive Officer of the Economic Development Partnership of North Carolina.

When you stop by North Carolina’s Booth 525 at this year’s SelectUSA Investment Summit, you’ll see a new face that expresses our strong commitment to attracting more India-based companies to a state that has been focusing for the past five years on winning Indian investment.

The Economic Development Partnership of North Carolina (EDPNC) recently opened the state’s first foreign direct investment (FDI) office based in India ― dedicated to increasing FDI into North Carolina from one of the world’s fastest-growing economies.

NC Gov.

North Carolina Gov. Roy Cooper and Infosys President Ravi Kumar announce in July 2017 that the technology consulting company would be establishing a 2,000-job hub in the Research Triangle region of North Carolina.

Our newest FDI representative ― Rahul Padmanabha ― is based in Bangalore. You can meet him at our booth, as well as representatives traveling to the SelectUSA Investment Summit from all the state’s other overseas FDI offices located in Europe, China, South Korea and Japan.

North Carolina, which opened the Bangalore office late last year, is paying attention to India because its executives certainly have been paying attention to us. According to the Moody Analytics company Bureau van Dijk, from 2014 through 2018:

  • Indian companies announced more than $409 million in capital investment and 4,400 new jobs in North Carolina.
  • North Carolina ranked No. 1 among all states for the number of announced jobs connected to Indian FDI.
  • North Carolina was No. 2 in the Southeast U.S. and No. 3 nationwide for the total capital investment announced by Indian companies.

That’s substantial growth in Indian companies choosing our state. And there’s opportunity to attract more of the same because North Carolina is a national leader in industry sectors that closely align with Indian interests ― including IT, pharmaceuticals, textiles, food processing, automotive and aviation.

In the big area of IT consulting, for example, our central East Coast location and tech talent appeal to global companies that want to nearshore facilities closer to their existing U.S. customers. Another big draw? North Carolina’s business-friendly costs and tax climate – including the lowest corporate income tax rate in the United States at 2.5 percent.

Announcements by India-based companies in recent years have made big headlines in North Carolina, such as information technology giant Infosys choosing Raleigh in 2017 for a 2,000-job innovation and technology hub. Others include IT services company HCL Technologies’ 1,237-job expansion in CaryAurobindo Pharma’s 275-job research and development headquarters in Durham; and technology services firm Zensar’s new customer delivery center, which is expected to create up to 200 new jobs in Durham.

There’s also Glenmark Pharmaceuticals, which announced its first U.S. manufacturing facility in Monroe outside Charlotte in 2014. The $100 million facility currently employs nearly 170 people.

While urban areas have attracted most of North Carolina’s India-source investment, several projects have been announced in our rural communities. For example, AR Textiles, part of the India-based Sunflag group of companies, has a factory in Martin County.  Mumbai-based Mahindra Vehicle Sales and Service chose Henderson County for its North American office headquarters.

As SelectUSA’s former lead for India, Rahul brings to his new North Carolina FDI role a deep understanding of what Indian companies need to succeed in the United States. Visit Booth 525 to find out how North Carolina can meet those needs, or email me directly at cchung@edpnc.com. I’ll be at the SelectUSA Investment Summit as well, and looking forward to connecting.

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USA Spends Seven Years Atop Key Business Index

May 7, 2019

Brian Lenihan is the Executive Director of SelectUSA in the International Trade Adminsitration

Some say that a person needs to hear a fact seven times before they will remember it. It’s called the Rule of 7. Whether it’s fact or fiction, I can’t be the judge. But in my time working at the International Trade Administration, I have come up with a Rule of 7 on my own: If global CEOs agree on something for seven years, everyone should commit it to memory.Graphic

The fact at hand is this: The United States is the best place in the world for global businesses to invest and grow.

That’s what global CEOs have said in A.T. Kearney’s annual FDI Confidence Index. For seven consecutive years, business leaders that are growing their companies around the world have said there is no better place to invest than here in the United States.

In honor of seven years earning the top spot as a business investment destination, here are seven reasons the United States is the best place to do business:

1. Sustained Economic Growth: The United States economy has grown at a greater than 2 percent clip for eight consecutive quarters, including a 3.2 percent growth rate in Q1 2019 that beat market expectations.
2. Powerful Consumer Market: Businesses operating in the United States have direct access to the world’s largest consumer market, as ranked by the World Bank.
3. A Fair Corporate Tax Rate: The Tax Cuts and Jobs Act decreased the corporate tax rate from 35 percent to 21 percent, meaning businesses can invest more of their revenues back into their operations.
4. A Simpler Regulatory Environment: The Administration has focused on removing redundant regulations that presented an unnecessary hurdle to doing business.
5. Intellectual Property Protections: Companies and entrepreneurs can innovate in the United States without worry that their intellectual property will be compromised.
6. World-class Productivity: The U.S. workforce is more than 37 percent more productive than the Organization for Economic Cooperation and Development average.
7. An Environment for Entrepreneurship: The U.S. legal system provides predictability and freedom from corruption that allows businesses and entrepreneurs to invest with confidence, as reflected by the United States’ number 1 ranking in the Global Entrepreneurship Index.

Thousands of foreign-owned businesses have used these reasons to grow in the United States, and their impact is significant: FDI supports nearly 14 million U.S. jobs.

If you are looking to enter or expand into the U.S. market, the SelectUSA Investment Summit is a must-attend event. The latest FDI Confidence Index underscores the fact that the United States is open for business; the Investment Summit will show how your business can take advantage of the opportunities offered in the world’s largest and most attractive market. I hope you’ll join us this summer.

For more information about the SelectUSA Investment Summit, please visit selectusasummit.us.

 

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Facilitating Business Investment to Deliver for the American Economy

November 1, 2018

Wilbur Ross is the U.S. Secretary of Commerce.

Today, registration is open for the 2019 SelectUSA Investment Summit, and I am looking forward to another successful event connecting global business investors with growth opportunities in the United States. Next year’s Investment Summit will take place from June 10-12, 2019 in Washington, D.C. at the Washington Hilton.

Throughout its existence, the Investment Summit has been a key contributor to advancing the Department of Commerce’s mission to support U.S. economic growth and create opportunities for hardworking Americans. Past Investment Summit participants have announced $98 billion in new investment projects which have been responsible for creating more than 150,000 American jobs.

susa 2018 summit attendees

The 2018 SelectUSA Investment Summit attracted more than 3,000 participants, including more than 1,000 business representatives from 66 markets.

Those participants include companies like Formosa Plastics, which attended the Investment Summit to find economic development connections in the United States before ultimately announcing a $9.4 billion investment in Louisiana. Grupo Bocar, a tier one automotive parts supplier, attended before deciding to invest $115 million in a facility in Alabama that will support 300 American jobs.

The SelectUSA Investment Summit is where business potential meets business opportunity. Our global Commerce Department team recruits and engages with businesses from around the world that have the desire to invest and the ability to succeed in the United States. Economic development organizations (EDO) representing states and cities from around the country come to the Summit to showcase everything that makes the United States the world’s top destination for business investment.

From decades of experience in the private sector, I’ve come to learn that you need the right people in the room to get deals done. The Investment Summit fosters and provides that environment.

I invite any business that is looking to grow on a global scale to join me at the 2019 SelectUSA Investment Summit. I believe that the time you spend with our team, making connections at networking sessions, talking about opportunities in our matchmaking area, and learning about business trends in our Summit Academy, will pay dividends for years to come.

 

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Building Relationships: The Key to Making Illinois a Top Location for FDI

October 10, 2018

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.

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

Mark Peterson is President & CEO of Intersect Illinois

Foreign direct investment (FDI) is key to the economic renaissance underway in Illinois. With more than 1,800 foreign owned companies already calling Illinois home and contributing more than $100 billion to the state’s GDP, the potential for growth is tremendous.

Relationship building on an international scale is crucial to Illinois’ foreign investment strategy. Over the past year, Intersect Illinois has built strong international relationships while promoting the state’s assets. Intersect has taken part in jobs missions to China, Japan, Germany, Poland, and Italy and hosted multiple delegations from these countries that have directly resulted in investment in Illinois.

The Intersect Illinois booth at the 2018 SelectUSA Investment Summit, June 18-20, 2018.

The Intersect Illinois booth at the 2018 SelectUSA Investment Summit, June 18-20, 2018.

A recent example of the results is Faber-Castell Cosmetics’ announcement of its first North American manufacturing facility in Illinois. The German company’s state-of-the-art $9 million manufacturing plant in Elgin will create 50 full-time jobs. The decision to locate in Illinois came after Intersect Illinois led a trip to Germany, where the delegation (including the governor) met with Faber-Castell’s leaders.

Intersect Illinois also coordinated a visit to China and Japan, that included meetings with companies such as Aisin Seiki (employs 843 people in Illinois), Sakae Riken Kogyo Co., Ltd. (which employs more than 400 in Illinois), and Toyota Boshoku, which has a plant in Lawrenceville. The team also met Caterpillar China, toured Wanxiang Group, and met with more than 60 businesses.

Following the visit, Intersect Illinois welcomed the newly appointed Japanese Ambassador to Illinois on a visit that focused on advancing the state’s business partnerships with Japan. This was part of the consul-general of Japan in Chicago’s Grassroots Caravan program to highlight the contributions of Japanese companies to local economies.

The group toured local Schaumburg companies to see the latest manufacturing innovations and learn more about Illinois’ workforce. The visit reinforced the benefits of foreign direct investment, while showcasing Illinois as a premier location for Japanese companies to grow.

Additionally, Intersect Illinois attended a SelectUSA event in three cities in Italy, meeting with several Italian companies interested in opening operations in the United States. Following the trip, Intersect hosted site tours for Cembre S.p.A, a company from Verona, Italy that attended the SelectUSA event. In August, Cembre opened a sales office in Schaumburg, with plans to distribute its imported products. Intersect also recently hosted site tours for another Italian manufacturer it met in Italy, which is looking to launch its first U.S.-based manufacturing operation.

Through proactive outreach, Intersect Illinois’ project pipeline has nearly quadrupled over the past year; the team is currently working on nearly 100 business attraction projects, more than 50 percent of which are FDI projects. That number is expected to grow as Intersect Illinois continues to market the state’s rich assets around the globe.

With the world’s 17th largest economy, Illinois is a proven global player and an excellent destination for international business. For more details on Intersect Illinois’ comprehensive FDI strategy, or how Illinois supports global companies, visit www.IntersectIllinois.org.

 

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Invest, Grow, and Succeed in the United States

June 22, 2018

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

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.