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Secretary Pritzker Declares America is Open for Business

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Secretary Pritzker Declares America is Open for Business

U.S. Secretary of Commerce Penny Pritzker today launched the inaugural SelectUSA 2013 Investment Summit, telling the more than 1,200 attendees from nearly 60 countries, 47 states, the District of Columbia and three U.S. territories that the United States is open for business. The first-ever event is connecting foreign and domestic investors with local, state and regional economic development organizations to promote investment and job creation in the United States.

“The SelectUSA Summit is all about business. It’s all about connecting investors with communities,” Commerce Secretary Pritzker told the audience. “We want to open that first door to making an investment here in the United States. Clearly, our investment climate is strong. America is open for business.”

For centuries, the U.S. has welcomed investment into the country and the domestic market has provided long-term stability and unmatched returns for investors. Today, the U.S. is the largest recipient of FDI in the world. Last year alone, foreign direct investment was more than $160 billion dollars and the total foreign stock and assets are measured not in billions, but in the trillions of dollars.

Also at the Summit, the Department of Commerce and the President's Council of Economic Advisers released a report outlining the reasons businesses consider the U.S. a top choice for investment,  as well as the economic benefits of foreign direct investment. Significantly, the report points out that the United States is the largest recipient of FDI in the world, with stock of more than $2.6 trillion dollars – including $166 billion that flowed into the country in 2012. The report recommends that the U.S. should continue to "nurture and build upon the underlying strengths of the U.S. economy that make firms want to invest here; including an open investment regime, a large economy, a skilled labor forced, community colleges, world-class research universities, predictable and stable regulatory regime, adequately capacitated infrastructure, and new energy sources." 

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