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Blog Category: SelectUSA

Global Investment is Important to the American Economy

The Department of Commerce is Open for Business

Guest blog post by Secretary of Commerce Penny Pritzker

Since I was confirmed as Secretary of Commerce, I’ve been meeting with business leaders, entrepreneurs, and foreign leaders to let them know that America is “open for business.” The United States is one of the most desirable places to do business; our $16 trillion economy, with its productive workforce and diverse consumer base, could not do what it does without domestic as well as foreign investment. Yesterday, I participated in the White House Forum (Forum) on Global Investment to highlight the administration’s support for, and benefits of, foreign direct investment (FDI) in the United States. 

For the meeting, I was joined by Acting Deputy Secretary of Commerce Pat Gallagher, Under Secretary of Commerce for International Trade Francisco Sánchez, Assistant Secretary of State for Economic and Business Affairs Jose Fernandez, and 21 foreign ambassadors and representatives to highlight the United States’ whole-of-government approach to attracting foreign direct investment.

Part of our discussion focused on the growth of FDI in sectors such as manufacturing, machinery, and scientific and technical services. In fact, FDI in the United States totaled nearly $168 billion last year. And just recently, the consulting firm A.T. Kearney published its annual FDI Confidence Index, with the United States ranked #1 on this list for the first time since 2001.

Pre-Registration Opens For SelectUSA 2013 Investment Summit

SelectUSA Summit 2013

Pre-registration is now open for the SelectUSA 2013 Investment Summit! This first-ever event will take place in Washington, DC on October 31 and November 1. 

The two-day SelectUSA 2013 Investment Summit will connect international and domestic investors and firms with economic development organizations (EDOs) from across the country in an effort to promote investment here and support the creation of American jobs.

Through a series of presentations and panel discussions, Summit participants will hear from world-class business leaders, senior Administration officials, and industry and technical experts. The Summit will feature an exhibition area where EDOs can showcase their business opportunities. Participants will also learn what Federal resources are available for investing in the United States. Another key component of the Summit will be matchmaking sessions, with opportunities for extensive networking.

SelectUSA, located within the International Trade Administration of the U.S. Department of Commerce, was established by President Obama in 2011. This Presidential initiative is charged with leading federal government efforts to promote the United Sates as the premier global investment destination and facilitate investment in the nation. SelectUSA provides counseling to the global investment community, serves as an ombudsman for investors, and advocates for U.S. cities, states, and regions competing for global investment.

Acting Secretary Blank Meets with Brazilian CEOs, Promotes SelectUSA Investment Summit

Acting Secretary Rebecca Blank is joined by Josué Gomes Da Silva, Chairman and CEO, Coteminas and Marcelo Bahia Odebrecht, President of Construtora Norberto Odebrecht S.A. at a Roundtable with Brazilian CEOs

Yesterday, Acting Secretary Blank met with a group of Brazilian CEOs to hear their priorities for doing business with the U.S. and to propose possible areas for close collaboration with American businesses. One area in which U.S. and Brazilian firms can work together is on infrastructure development, which is one reason why Acting Secretary Blank is currently leading a trade mission of 20 U.S. firms in a wide range of infrastructure industry sectors to Brazil, Colombia and Panama. These companies offer everything from cutting-edge technologies to top-notch services in engineering, management consulting, and more -- and they are well equipped to help Brazil meet its robust goals for infrastructure improvements.

Acting Secretary Blank emphasized the importance of a strong bilateral investment relationship -- many global manufacturers, including some in Brazil, are now looking to return manufacturing operations to the U.S., to expand operations here, or to invest in the U.S. for the first time. That´s because there are a host of factors that make America a very attractive place to do business: low domestic energy costs and a stable supply of energy, high labor productivity, strong research institutions that can serve as partners in developing new products, intellectual property protections, and a stable business investment environment.

Deputy Secretary Blank Travels to BMW in Spartanburg, SC to Highlight Revitalization of American Manufacturing

Deputy Secretary Blank is joined by Brian Barron, Department Manager for X3 Assembly and Josef Kerscher, the President of BMW Manufacturing, on the Spartanburg assembly floor

Deputy Secretary of Commerce Rebecca Blank visited BMW Manufacturing today and delivered remarks on the President’s plan to make America a magnet for jobs and manufacturing. The Deputy Secretary highlighted the President’s proposals for a new Investing in Manufacturing Communities Partnership, the SelectUSA program, and the National Network for Manufacturing Innovation.  Blank’s visit comes on the heels of President Obama’s State of the Union Address, in which he outlined a broad agenda for revitalizing U.S. manufacturing, spurring innovation, and accelerating export growth.

During her remarks, Blank emphasized key Commerce programs that will drive President Obama’s “Make America a Magnet for Jobs by Investing in Manufacturing” plan. For example, Commerce is going to lead a team of federal agencies in the new Investing in Manufacturing Communities Partnership.  The President has proposed a new program to support communities that do the hard work and analysis to identify key projects that will bolster their ability to attract investment.  A competitive process will select communities that have done effective planning but need a little help to build additional assets.  For instance, the program could provide matching funds to co-invest in things like a business park or a new tech transfer program with local universities. Local leaders will need to show that they’ve put together a strong plan to attract investments from a particular industry where their community has a comparative advantage.  That means they’ll need to collaborate closely across the public and private sectors, local foundations, and local research and teaching institutions. By supporting communities that are actively working to become investment hubs, the program will help entice both manufacturers and their supply chains to come to a particular area. 

Acting Secretary Blank Announces $40 Million Initiative to Challenge Businesses to Make it in America

Acting U.S. Commerce Secretary Rebecca Blank Announces $40 Million Initiative to Challenge Businesses to Make it in America (Photo: Roberto Westbrook and STIHL Inc.)

Yesterday, Acting U.S. Commerce Secretary Rebecca Blank traveled to Virginia Beach, Va., where she toured the STIHL manufacturing plant and announced a new initiative to strengthen the economy by supporting American businesses as they make things here in America and create jobs. The Make it in America Challenge is designed to accelerate the trend of insourcing, where companies are bringing jobs back and making additional investments in America. The competition, which is being funded by the Department of Commerce’s Economic Development Administration and National Institute of Standards and Technology Manufacturing Extension Partnership and the Department of Labor’s Employment and Training Administration, will build upon the administration’s bottom-up approach to strengthening the economy and creating jobs by partnering with state, regional and local economies.

The national competition will help provide the critical infrastructure, strategic planning, capacity building, technical assistance, and workforce skills training necessary for American communities to be the desired home for more businesses. The Make it in America Challenge builds on the administration’s efforts to encourage companies—large and small, foreign and domestic, manufacturers and services firms—to increase investment in the United States.

Acting Secretary Blank also highlighted two ongoing efforts by the Department of Commerce to attract foreign direct investment. SelectUSA, a program the president launched last year, continues to showcase the United States as the world’s premier business location and to provide easy access to federal-level programs and services related to business investment. Also, Commerce’s Commercial Services officers have been trained to help foreign investors who want information about how to invest in the U.S and who want to link up with local and state economic development leaders to create jobs in America.

Acting Secretary Blank Talks Insourcing and Job Creation at Economic Development Forum

Acting Secretary Blank at International Economic Development Summit in Washington

Guest blog post by Dr. Rebecca Blank, Acting Secretary of the U.S. Department of Commerce

This morning, I joined economic development leaders from around the country to discuss ongoing efforts to create jobs and grow the U.S. economy. The Economic Development Forum was hosted by the U.S. Commerce Department’s SelectUSA initiative, in partnership with the White House Business Council and the International Economic Development Council (IEDC), the world’s largest professional organization of economic development practitioners.

The forum provided an opportunity to discuss the Obama administration’s efforts to support U.S. businesses and encourage companies to bring good jobs back to America, a trend called insourcing.

Both American and international firms are increasingly looking for opportunities to invest in the U.S. And businesses are not only choosing to bring jobs back, but they are also making decisions to expand here instead of shipping jobs overseas. These investments mean that more products will be made in America. That means more jobs and greater economic security for families across this nation.

Secretary Bryson Announces 16 Companies Joining his First Trade Mission to India

Secretary Bryson Announces 16 Companies Joining his First Trade Mission to India (State Dept. image)

U.S. Commerce Secretary John Bryson today announced the 16 companies that will join him on a business development mission to India, his first as Commerce Secretary. During the mission, Secretary Bryson will meet with senior-level Indian government officials to advocate for U.S. export opportunities in India’s rapidly expanding infrastructure sector, and promote investment opportunities in America – both key priorities of the Obama Administration. The mission will take place March 25-30 with stops in New Delhi, Jaipur and Mumbai.  

The trade mission supports President Obama’s National Export Initiative goal of doubling U.S. exports by the end of 2014 to create more good-paying jobs. Last week, on the two year anniversary of the creation of the NEI, the Commerce Department released new data showing that jobs supported by U.S. exports increased by 1.2 million between 2009 and 2011, and the value of U.S. exports exceed $2.1 trillion for the first time in U.S. history. The mission also supports efforts to increase investment in the United States through SelectUSA, America’s first national investment advocacy program. In addition, the mission will promote a new national tourism strategy focused on creating American jobs by becoming even more welcoming to visitors from around the world.

“This mission builds on President Obama’s historic visit to India two years ago, when he said before the Indian Parliament that the U.S.-India relationship will be one of the defining partnerships of the 21st century. I couldn’t agree more,” said Bryson. “I am looking forward to connecting American business leaders to new opportunities in India’s rising infrastructure sector, and encouraging Indian businesses and individuals to invest in and visit the United States. India is one of the world’s fastest growing economies, and its large market presents an important opportunity for U.S. companies to sell their goods and services to some of the 95% of consumers who live beyond our borders and boost job creation at home.”  Full release

India Notes: New Partnerships Equals New Opportunities

Under Secretary Sánchez with inauguration participants

Guest blog post by Francisco J. Sánchez, Under Secretary for International Trade, International Trade Administration

There are amazing opportunities available to U.S. businesses in India.

That’s one of the main takeaways of my successful week-long trade mission focusing on Indian port infrastructure. Case in point: the two-way trade between India and the U.S. grew to $58 billion in 2011, and this upward trend is expected to continue in 2012.

The ports trade mission that we just concluded today–a first of its kind in India–was especially successful. Representatives from 12 U.S. organizations joined me on the trip, where we visited three different cities to facilitate as many partnerships as possible. The trade mission participants included dredging companies, port security companies, scanning technology providers, infrastructure, and transportation and logistics companies. With them the Ports of Baltimore and San Diego also joined to partner with companies and ports in India.

Secretary Bryson Encourages State Governors to Use SelectUSA and Attend SelectUSA Investment Summit

SelectUSA logo

Prior to President Obama attending the Democratic Governors Association Meeting, Secretary John Bryson addressed the assembled governors to discuss how the Commerce Department is working across the federal government to make every federal tool available to promote “insourcing” by U.S. companies and to attract more foreign direct investment.

Secretary Bryson reiterated the key advantages America has over foreign competitors. For example, the American workforce is among the most productive in the world. He also discussed how America continues to have the best universities, the strongest sources of R&D and manufacturing innovation, excellent supply chains, and the strongest IP protections.  He also noted that foreign direct investment rose nearly 50 percent from 2009 to 2010.

Bryson then emphasized that through SelectUSA, the Commerce Department wants to partner with more states to attract even more foreign direct investment to the U.S. SelectUSA is the first coordinated federal effort to aggressively pursue and win new business investments in the U.S. It will help investors navigate our rules and procedures and will help advocate for the U.S. when foreign businesses are deciding where to put their next facility and create jobs.

SelectUSA is already working with some city and state economic development organizations to produce results. Bryson personally invited the governors and their top economic officials to attend the 1st annual SelectUSA Investment Summit later this year. The Commerce Department will assemble companies from around the world and it will provide an excellent opportunity for states to explain why they are the best place to invest and to hire.

President Obama Announces First Annual SelectUSA Investment Summit

SelectUSA logo

Today President Obama visited Master Lock in Milwaukee, Wisconsin and announced that the Department of Commerce will host the first annual SelectUSA Investment Summit, bringing companies from around the world to meet with governors, mayors and local stakeholders, federal agencies, and state and local economic development organizations together to discuss the benefits of investing and growing in the U.S. The Summit will build on the Administration’s efforts to promote investment in the U.S. by providing an annual forum to attract and expand U.S. investment and address questions and issues that companies face when they choose where to invest globally.

Launched by Executive Order in June 2011, the Department of Commerce’s SelectUSA program is the first-ever federal effort to help attract, retain, and expand business investment.  Historically, U.S. states and cities have found themselves competing against foreign governments to attract business investments, with the federal government playing only a nominal role in the competition for global investment.  Rather than providing new incentives for investment, SelectUSA plays the critical role of advocacy, coordination, facilitation, and information-gathering and –sharing.
 
The program has already paid dividends for American workers.  Working hand-in-hand with SelectUSA officials, the Michigan Economic Development Corporation, and other local Michigan agencies, Canadian automotive company AGS Automotive recently elected to make an investment in excess of $20 million to add new manufacturing capabilities to permit it to manufacture bumper impact assemblies in Michigan.  The new business will likely represent in excess of $100 million in annual sales over the next 5 years and will enable AGS to retain approximately 50 jobs and create over 100 new jobs in Michigan.