Posts Tagged ‘SelectUSA’

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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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Modernizing America’s Infrastructure with Foreign Direct Investment

June 15, 2018

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

Guest blog post by Brian Lenihan,  Acting Executive Director of SelectUSA

From expansive freeways and bridges to thriving seaports and airports, infrastructure is the backbone of the U.S. economy, fueling U.S. competitiveness by creating efficient supply chains, reliable energy information, as well as modern and secure transportation systems.

However, years of underinvestment in infrastructure have partially handicapped U.S. growth potential. As the United States now turns toward reinvesting in its infrastructure, there are countless business opportunities for domestic as well as international firms.

Photo of roadways in the United States.

The SelectUSA Investment Summit’s focus on infrastructure this year is demonstrative of the Trump Administration’s commitment to restoring the infrastructure of this country to its full potential, creating economic growth and American jobs in the process.

On Friday, June 22, April Palmerlee, CEO of the American Chamber of Commerce in Australia, will lead a panel on rebuilding and modernizing America’s infrastructure at the 2018 SelectUSA Investment Summit. The panel will highlight President Trump’s “Building a Stronger America” initiative with a focus on regulatory reduction in the permitting process and creative financing, both key to addressing these needs through public-private partnerships as a source of funding at the state and federal levels.

The U.S. Department of Transportation’s Build America Bureau will also lead a session during the Investment Summit Academy on Wednesday, June 20. Roger Bohnert, Director of the Office of Outreach and Development, will explain how local and state-level economic development organizations can find support for infrastructure projects through the Department of Transportation.

The SelectUSA Investment Summit’s focus on infrastructure this year is demonstrative of the Trump Administration’s commitment to restoring the infrastructure of this country to its full potential, creating economic growth and American jobs in the process.

The 2018 SelectUSA Investment Summit (June 20-22) is the highest-level foreign direct investment event in the United States. U.S. economic development organizations and international business investors will converge in Washington, D.C., to hear from industry experts and high-ranking government officials providing insight into several key areas of U.S. strength: workforce development, the burgeoning commercial space industry, and advanced manufacturing.

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

June 7, 2018

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

This post originally appeared on the Department of Commerce blog.

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

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

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

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

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

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

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

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

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

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

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

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

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Thanks to Innovation and Investment, the U.S. Aerospace Industry is Boldly Going to New Frontiers

June 1, 2018

This post originally appeared on the Department of Commerce blog.

Guest blog post by Brian Lenihan , Acting Executive Director of SelectUSA

Photo of satellite from space.

Photo of satellite from space.

On February 20, Vice President Mike Pence led the second meeting of the National Space Council at the Kennedy Space Center in Florida. Vice President Pence reiterated the Trump Administration’s dedication to making the United States the global leader in the burgeoning commercial space industry.

“It’s here today, in the 21st century, that the modern marvels that launch from these grounds will prove that the public and private sectors are achieving far more today than we ever have before,” Vice President Pence told the Council.

The Trump Administration is focused on maintaining U.S. leadership in space exploration and technology through public-private partnerships between the Federal government and international companies. By reviving the National Space Council in July, signing Space Policy Directive 1 in December, signing Space Policy Directive 2 in May, and authorizing an increase in NASA’s budget, President Trump is positioning the United States for a return to the Moon and a venture to Mars and beyond.

“As the President said, space is the ‘next great American frontier’ – and it is our duty – and our destiny – to settle that frontier with American leadership, courage, and values,” Vice President Pence said at the inaugural meeting of the National Space Council in October.

Settling that frontier will take human ingenuity and innovative technologies, both of which the United States has in abundance. The world’s top companies are drawn to the innovation culture of the United States. By encouraging entrepreneurship and risk taking, this culture offers an added competitive edge to the business community and leads to technological breakthroughs.

Simply put, the U.S. aerospace industry is a global powerhouse. International firms are drawn to its skilled and educated workforce and extensive distribution systems. World-changing technology is made in the USA, including technologies that rove the surface of Mars and make it possible to study galaxies millions of lightyears away. In 2016 alone, the industry contributed $147 billion in export sales to the U.S. economy, which led to a positive trade balance of $90.5 billion — the largest of any manufacturing industry.

Through the President’s Space Policy Directive 2, the Department of Commerce recently announced its intent to create a new Space Policy Advancing Commercial Enterprise (SPACE) Administration, which  will create a new “one stop shop” within the Department for promoting, administering, and regulating commercial space activities.   The SPACE Administration, to be housed within the Office of the Secretary, will  advance pro-growth policies affecting commercial space activities. This flourishing industry will also be a focus of the 2018 SelectUSA Investment Summit (June 20-22), the top foreign direct investment event in the United States. Secretary of Commerce Wilbur Ross will lead a panel of industry experts to discuss the latest updates in a rapidly changing field and how domestic and foreign companies can utilize U.S. resources to join a new commercial space race.

This June, global companies—from aerospace to agriculture—will join high-level government officials, business executives, thought leaders, and economic developers from across the United States for the Investment Summit in Washington, D.C. To learn more about how you can attend the top foreign direct investment event in the country, please visit selectusasummit.us. Additionally, please visit selectusa.gov for more information on how—and why—to invest in the United States.

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Workforce Development to be Showcased at the 2018 SelectUSA Investment Summit

May 24, 2018

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

Steven Meyers is Director of Outreach and Communications, SelectUSA

The U.S. economy is the best shape since the turn of the 21stcentury. Unemployment has reached a rare low of 3.9 percent, wages are rising, and the international consensus is that the U.S. market is one of reliability and confidence. Indeed, there has never been a better time to invest in the United States and its workers.

Secretary of Labor Alexander Acosta

Secretary of Labor Alexander Acosta Addresses the 2017 SelectUSA Investment Summit.

And yet, millions of American workers are at risk of being left behind in the global 21st century economy. Adapting and flourishing in the new economy will require innovative approaches to job training, education, and economic development.

Workforce development is not only a necessity. It also falls at the intersection of multiple government focuses, from collaborating with countries like Switzerland—where apprenticeships are well-established and common—to programs designed to reduce recidivism, such as the Department of Justice’s UNICOR program. Using an all-encompassing strategy, the Trump Administration is focused on creating good-paying jobs for millions of Americans.

This is why President Trump issued an executive order calling for a multi-department effort to expand apprenticeships in the United States. Specifically, the order created the Task Force on Apprenticeship Expansion, a Department of Labor-led body of industry leaders and government officials. On May 10, 2018, the Task Force presented its findings to the President, recommending an increase in “work-and-learn models,” reforms to the funding process, an awareness campaign, and an expansion of apprenticeships in new industries.

Next month, workforce development will be a central focus of the 2018 SelectUSA Investment Summit, the top foreign direct investment event in the United States. Secretary of Labor Alexander Acosta will lead a panel on the subject with an emphasis on utilizing America’s most valuable economic resource: one of the most skilled and educated workforces in the world.

The Investment Summit joins U.S. economic developers and service providers with international business investors who are ready to establish or expand operations in the United States. Join SelectUSA, June 20-22, at the Gaylord National Resort and Convention Center in the Washington, D.C. metro area. This summer, we invite you to invest, grow, and succeed in the United States.

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The Verdict Is In: The SelectUSA Investment Summit Delivers Results for Business Investors

April 27, 2018

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

Bill Burwell is the Director of Events for SelectUSA.

Photo from 2017 SUSA Summit highlighting an individual matchmaking session.

The 2017 SelectUSA Investment Summit included more than 2,000 scheduled individual matchmaking meetings between businesses and economic development officials.

The SelectUSA Investment Summit brings the worlds of foreign direct investment (FDI) and economic development together—all under one roof. Attendees will hear from senior U.S. government officials and Cabinet secretaries, executives from some of the world’s top companies, and economic thought leaders at the forefront of a changing global economy.

It all happens again on June 20-22, 2018, at the Gaylord National Resort and Convention Center in the Washington, D.C. area.

Past Investment Summit participants have announced more than $71 billion in new investment projects. These projects have created or retained more than 110,000 U.S. jobs. Among those jobs will be nearly 400 in New York, where Romanian distiller Alexandrion is opening a facility. In Kentucky, Japanese manufacturer Takigawa will employ 180 people after making connections at the Investment Summit. MIG Neurons and sRs McCoy are among the Indian companies that have moved into soft landing facilities in Maryland and New Jersey after making connections at the Investment Summit.

SelectUSA received highly positive feedback from international business attendees at the 2017 SelectUSA Investment Summit:

“The SelectUSA Investment Summit far exceeded my expectations. The event was well worth the investment … I was impressed by the quality of the connections made and the value my firm received as an exhibitor.”

 “This is the place to be if you are considering starting a business in the United States.”

“The Investment Summit is absolutely the right forum for launching a new business in the U.S. The value of getting a large number of states and economic development agencies on one floor is priceless.”

“The benefit of attending the SelectUSA Investment Summit is direct, immediate, and purposeful contact with municipal, state, and federal personnel.”

We expect to continue delivering for potential business investors at the 2018 SelectUSA Investment Summit. Last year’s Investment Summit drew a record number of participants, including more than 600 economic developers from 52 U.S. states and territories.

International business investors utilized the online matchmaking platform to schedule face-to-face meetings with American economic developers. In the 79,000-sq.-ft. Exhibition Hall, these investors saw what dozens of U.S. states, counties, cities, territories, and regions had to offer.

There is simply no better place to connect to the economic development community than at the Investment Summit.

Don’t miss your chance to connect with EDOs from across the United States. Join us at the SelectUSA Investment Summit. For more information, please visit selectusasummit.us.