Posts Tagged ‘SelectUSA Investment Summit’

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SelectUSA Investment Summit Spotlight: The SelectUSA Academy

June 20, 2016

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

This post originally appeared on the Department of Commerce blog.

By Vinai Thummalapally, SelectUSA Executive Director

Photo of Participants at the SelectUSA Academy at the 2016 SelectUSA Summit

Photo of Participants at the SelectUSA Academy at the 2016 SelectUSA Summit

At SelectUSA, we value the input of our clients and work hard to serve them better. A few months ago, we put out a call for topics to include in the second SelectUSA Academy. We wanted to keep the content fresh and make sure new viewpoints were included in the program, and we weren’t disappointed. We received dozens of submissions, all with great ideas and valuable advice for investors and economic developers.

That collaboration came to fruition yesterday. With many speakers volunteering their time on Father’s Day, we presented the SelectUSA Academy, a practical pre-Summit orientation designed for first-time investors and U.S. economic developers.  Participants had the chance to get a jumpstart on the week and take full advantage of their time at the 2016 SelectUSA Investment Summit, where representatives of international companies, state and local governments, and economic development organizations (EDOs) are converging today.

The SelectUSA Academy program offered two dedicated tracks: Investor and EDO. For representatives of companies looking to establish operations in the United States, the Investor Track provided concrete tips on a range of subjects. The sessions focused on understanding the U.S. regulatory environment, tapping into resources and networks, and building a successful investment strategy. Participants were treated to closing remarks by a special high-level guest, Governor Butch Otter, from the State of Idaho.

Similarly, participants in the EDO Track gained insight into the inward investment promotion process, including strategies for marketing and pitching their locations effectively. Speakers focused on nurturing a healthy new business pipeline by identifying and converting quality leads.

This year’s Academy was filled to capacity, so if you are interested in participating, sign up for our email list to be the first to learn about future sessions.  And if you missed the Academy, don’t worry – we have plenty more for you over the next couple of days. I hope you will also join us online today and tomorrow to watch the livestream of the SelectUSA Summit plenary sessions.

On Monday, June 20, Secretary Penny Pritzker will kick off the proceedings, welcoming more than 2,400 participants from every corner of the United States and 70 foreign markets. Speakers include business leaders from companies like ABB, Lockheed Martin, McKinsey & Company, Rolls-Royce, EY, Wanxiang, Teva Pharmaceutical Industries, and TOTO.

Georgia Governor Nathan Deal and Virginia Governor Terry McAuliffe will take the stage, along with U.S. Secretary of Agriculture Tom Vilsack, Secretary of Labor Thomas Perez, and Mr. Jeffrey Zients, Director of the National Economic Council. And of course, you’ll want to catch the keynote address by President Barack Obama at lunchtime.

On Tuesday, June 21, we will hear from Treasury Secretary Jacob Lew; Ambassador Michael Froman, U.S. Trade Representative; Congressman Steny Hoyer; and Secretary of State John Kerry. Check out the agenda, and we hope to see you at the Summit or online!

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

March 4, 2016

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

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

MOI signing ceremony

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

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

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

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

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

 

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

March 3, 2016

Felicia Pullam is the Director of Outreach for SelectUSA.

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

SelectUSA 2016 Investment Summit

            SelectUSA 2016 Investment Summit

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

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

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

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

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

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

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

About SelectUSA: Housed within the U.S. Department of Commerce, SelectUSA promotes and facilitates business investment into the United States by coordinating related federal government agencies to serve as a single point of contact for investors. SelectUSA assists U.S. economic development organizations to compete globally for investment by providing information, a platform for international marketing, and high-level advocacy. SelectUSA also helps investors find the information they need to make decisions; connect to the right people at the local level; navigate the U.S. federal regulatory system; and find solutions to issues related to the U.S. federal government.

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2015 SelectUSA Investment Summit is Now Open for Business

January 8, 2015

This post originally appeared on the Department of Commerce blog.
This post contains external links. Please review our external linking policy.

Guest blog post by Secretary Penny Pritzker 

SelectUSA Investment Summit Washington, DC March 23-24, 2015In my first year as Secretary, one of my proudest moments was welcoming international investors to the 2013 SelectUSA Investment Summit. Alongside President Obama, Secretary of State John Kerry, Treasury Secretary Jack Lew, Labor Secretary Thomas Perez, and U.S. Trade Representative Michael Froman, we made it clear that America is “Open for Business.”

As 2015 begins, we are moving full speed ahead with registration for the second SelectUSA Investment Summit, which will take place in the DC metro area on March 23-24, 2015.

In November, the Bureau of Economic Analysis (BEA) released new data showing why efforts to attract international investment are so important. U.S. affiliates of foreign firms employed 5.8 million people in the United States in 2012. These companies spent $48 billion on U.S. research and development, and they exported nearly $344 billion worth of goods manufactured in the United States. In 2013, the United States attracted $231 billion in FDI, up from $170 billion in 2012.

There has never been a better time to consider establishing or expanding operations in the United States, and it is clear that investors recognize the opportunities that America offers.  We are home to an attractive consumer market, a thriving culture of innovation, and a talented workforce.  The U.S. economic recovery is outshining others, and investors are increasingly confident.  In fact, A.T. Kearney’s 2014 Foreign Direct Investment (FDI) Confidence Index said, “the United States tops the index for the second year in a row,” with the highest net positive rating in the index’s 16-year history.

The 2015 SelectUSA Investment Summit aims to build on the tremendous success of the inaugural event, which connected investors from 60 countries with representatives from nearly every U.S. state and territory.  At this year’s Summit, economic development organizations (EDOs) from across the United States will once again gather to showcase investment opportunities to companies from around the world. This event will bring together the tools, information, and connections companies need to grow their business here. The two-day summit will include many sessions with high-profile CEOs, breakout panels with practical tools for investors, one-on-one matchmaking meetings, and pitches on the trade show floor.

Given the incredible interest in the first event, we are doubling the size of the Summit and adding some new features, including a pre-Summit SelectUSA Academy that will cover the basics for first-time investors and the fundamentals of attracting FDI for economic developers.  We are also including sessions on rural investment, infrastructure investment, and other new features like robust online matchmaking and a more expansive trade show floor.

U.S. economic development organizations and companies that are interested in establishing operations in the United States – including reshoring and foreign investment – can learn more at the SelectUSA Summit website.

The SelectUSA team stands by to assist with investments at any time.  Learn more about their services at www.SelectUSA.gov.

SelectUSA is the U.S. government-wide program, housed within the U.S. Department of Commerce, to facilitate investment into the United States.

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America is Open for Investment

January 22, 2014

Vinai Thummalapally is the Executive Director of the SelectUSA Program. This post originally appeared on the Department of Commerce blog. 

Ambassador Vinai Thummalapally is the Executive Director of the SelectUSA Program.

Ambassador Vinai Thummalapally is the Executive Director of the SelectUSA Program.

In 2011, President Obama launched SelectUSA, the first-ever U.S. government-wide initiative to attract foreign direct investment (FDI) in the United States, with the hopes that the Department of Commerce would help facilitate both foreign and domestic business relationships and make FDI a diplomatic and foreign policy priority.

We took an enormous step forward three months ago, when the Commerce Department hosted the first-ever SelectUSA Investment Summit in Washington, DC. The summit was such a success that it sold out, and more than 1,300 business and government leaders from nearly 60 countries and economic development organizations from 48 states, the District of Columbia and three territories gathered to learn about the advantages of doing business in the United States and to explore investment opportunities. Perhaps most importantly, the Summit helped match potential investors with economic development organizations to help revitalize American communities and create new job opportunities.

Thankfully, we can continue to build upon the success of the Summit, now that the budget deal has been approved.  The agreement will allow up to $7 million to expand and enhance the program, and we at the Commerce Department are pleased to have this extra support to bring more companies to our shores.

In fact, the U.S. has welcomed investment to our shores for centuries. Our market has provided long-term stability and unmatched returns for investors. Today, the United States is the largest recipient of FDI in the world, and in 2012 alone, more than $160 billion dollars of FDI flowed here. Total foreign stock and assets are measured not in billions, but in the trillions of dollars. Clearly, FDI is an important contributor to our economy.

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But don’t take my word for it – SelectUSA has already helped bring jobs to the U.S. and foster many business relationships, both foreign and domestic.

For example, the Southern Idaho Economic Development Organization (SIEDO) approached SelectUSA for assistance as they worked with Frulact, a Portugal-based producer of fruit-based ingredients for food. SelectUSA advised SIEDO on the issues that would be critical for the company to consider, while also connecting them directly with our team on the ground in Portugal. After utilizing our advice, SIEDO and Frulact announced plans in October for a state-of-the-art 200,000 square foot facility in Rupert, Idaho, that is expected to employ at least 100 people.

We’re hearing plenty more success stories like this, and the SelectUSA program has proven to be a great “bang for the buck.”

We’re excited to continue enhancing SelectUSA with more congressional funding, and the Department of Commerce is ready to do all it can to connect investors with communities…and to open all avenues to guarantee that American is Open for Business.

After all, as President Obama said in his keynote address at the summit a few months ago, “When you bet on America, that bet pays off.”

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The SelectUSA Mission Continues

November 15, 2013
Secretary of Commerce Penny Pritzker reiterated her message that the United States is open for business.

Secretary of Commerce Penny Pritzker reiterated her message that the United States is open for business.

Ambassador Vinai Thummalapally is the Director of SelectUSA.

It’s now been two weeks since the SelectUSA 2013 Investment Summit, and we’re still catching our breath. There was incredible turnout for this first-ever national event, which brought together investors, business leaders, and economic development organizations to attract investment in the United States.

More than 1,300 participants packed the conference hall, coming from 60 international markets and across the United States.  Tickets sold out because people from all over the world believe in the stability, potential, and promise of the American market.

Thank you to all who came, all who expressed interest, and all of the partners and colleagues who made this event a reality.

You can relive some of what happened here in Washington, D.C., through our archived videos, but it’s important to remember that it’s the follow-up and the everyday hard work that will carry forward the SelectUSA mission. As President Obama said in his remarks at the event, the Summit was the starting point to strengthen and expand the program to attract more investment to the United States.

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We hope that the Summit was also a starting point for the types of new connections, new opportunities and new ideas that keep our economy moving forward.  More than 650 private, one-on-one meetings were set up through our online matchmaking system, and hundreds more took place on the tradeshow floor.

Through these discussions, federal, state, and local government officials received direct feedback from business leaders and investors on how to better meet their needs. Delegations from 48 states, three U.S.  territories, and the District of Columbia showed investors the numerous advantages to doing business in the United States.

This is where we begin the next phase.

Those connections can lead to the business deals that bring more investment and more American jobs. Our team is following up on inquiries, comments, and possibilities. We know that the investors, along with the state and local economic development organizations, are doing the same.  As you work on your follow-up, SelectUSA can serve as your convenient, single point of contact all year round.

The team at SelectUSA, as well as our colleagues across the United States and at U.S. embassies and consulates worldwide, look forward to taking our mission to the next level.  We hope to be in touch soon!

Thanks again for your interest. If you have questions, comments or you’d like to explore how we can assist you, please let us know.

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Day One at the SelectUSA 2013 Investment Summit

October 31, 2013

Ambassador Vinai Thummalapally is the Director of SelectUSA.

President Barack Obama delivered keynote remarks at the SelectUSA 2013 Investment Summit.

President Barack Obama delivered keynote remarks at the SelectUSA 2013 Investment Summit.

“There’s no substitute for those three proud words: ‘Made in America.'”

President Obama has been emphatic that the United States remains the best place in the world to do business. Today at the SelectUSA Investment Summit, he reiterated that message to 1,000 business leaders from nearly 60 countries.

“When you bet on America, that bet pays off,” the president said as he closed his keynote address.

Your country is your product when you’re attracting foreign direct investment. At the Summit today, we showed the world that the United States is the absolute best product on the market.

“America is open for business,” said Commerce Secretary Penny Pritzker. “Our market has provided long-term stability and unmatched returns for investors.”

Attendees began making connections as soon as the doors opened.  Representatives from 47 states, three territories, and Washington, D.C., showed off investment opportunities around the country.

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

Treasury Secretary Jack Lew highlighted many advantages a company has when it invests in America – including robust infrastructure and low barriers for entrepreneurs. CEOs from major national and international companies echoed those messages throughout the day.

“We have the most resilient capital markets in the world,” said Larry Fink, CEO of BlackRock.

Andrew Liveris said that when it comes to investment in research and development, “the U.S. is number one.”

We are showing the world that when you invest in the United States, you’re making a tactical decision to help your company grow. There are numerous advantages to bringing your business here:

·         You’re gaining access to a reliable system of infrastructure for transporting goods;

·         American workers remain among the most skilled and productive in the world;

·         This is an enormous market of consumers;

·         U.S. regulatory systems protect innovation and support business growth; and

·         Local and state governments want to work with you.

Walmart can’t provide low prices to consumers without getting quality products at a low cost. So the SelectUSA Summit was the perfect platform for Bill Simon, President and CEO of Walmart U.S., to announce the company’s initiative to buy more products from American manufacturers.

“Today’s announcement… highlights opportunities that exist for manufacturers to invest in the USA by re-shoring or expanding their manufacturing in America,” Simon said at the Summit.

Businesses, investors, and economic development organizations also took to social media to discuss the Summit, and we’re glad that we’ve been able to share information from this event with people around the world who have an interest in FDI. Here are some snippets of the conversations from today:

I encourage you to keep up with and contribute to the conversation on Twitter throughout the Summit using #SelectUSA.

The entire event is also being webcast here: http://new.livestream.com/accounts/4828334/selectUSA2013. I encourage you to watch, no matter where you are in the world, so you can take advantage of the experts explaining why the United States is the best possible investment destination for your business.

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