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Acting Secretary Blank Hosts Meeting with Local Business Leaders in Martinsville, Va. , Tours Foreign Direct Investment Facility in N.C.

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Blank tours AlBaad USA in Reidsville, N.C.

Today, Acting Secretary Rebecca Blank traveled to Martinsville, Va., to host a roundtable meeting with local business leaders.  The discussion, part of the Obama Administration’s White House Business Council’s ongoing Winning the Future roundtable event series, is to better communicate with America’s business community about the challenges they are facing and turn that input into concrete action that will improve U.S. economic competitiveness. The meeting was also an opportunity for businesses to learn about help that is available from agencies across the federal government.

After  the roundtable, she toured the production facility of AlBaad USA with Gov. Bev Perdue and U.S. Rep. Brad Miller in Reidsville, N.C. AlBaad USA is an Israeli-owned wet wipe and cleaning supply company that has made a $35 million investment in its U.S. operation, employing nearly 200 people. 

After the tour, Blank discussed the importance of strengthening our education, infrastructure and innovation capacity as ways to rebuild our economic foundation, create jobs and enhance our global competitiveness. She also underscored the steps the administration has already taken to achieve these priorities – from investing in community colleges and funding transportation projects across the country, to launching the President’s National Export Initiative and pushing to shorten the time it takes to approve a patent. 

Blank also highlighted the significance of foreign direct investment (FDI), citing AlBaad USA as an example of foreign companies whose investments the U.S. must attract more of to strengthen economic growth and job creation.  With FDI supporting more than 5 million American jobs, Blank discussed a new government-wide initiative, housed at Commerce – SelectUSA – which seeks to cut federal red tape for domestic and foreign investors, remove barriers to new investment and boost business growth in the United States. 

Launched in June, SelectUSA was created by Executive Order in direct response to concerns the Obama administration has heard from the business community. In addition to its work removing federal-level barriers to foreign investment, SelectUSA also brings together information on federal programs and services available to companies looking to invest in the United States in one, easy-to-access location, supported by a comprehensive website at www.SelectUSA.gov. The website also provides snapshots of the competitive landscape in major U.S. industries and a direct line to state and local economic development agencies.

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