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Blog Category: SelectUSA

Acting Secretary Blank Tours Steel Facility in Warren, Ohio

 Acting Secretary Rebecca Blank Tours Thomas Steel in Warren, OH

Blank highlights Obama administration economic initiatives and new Commerce program designed to attract foreign investment, create jobs

Acting U.S. Commerce Secretary Rebecca Blank traveled to Warren, Ohio, today to tour Thomas Steel Strip Corporation, a member of the Tata Steel Europe Group and a manufacturer of cold-rolled strips usually used as steel casings for batteries. Thomas Steel employs more than 250 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 Tata Steel 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 five 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. 

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

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.

Bringing and Keeping Business Investment in America

SelectUSA logo

Guest blog by Gary Locke, U.S. Secretary of Commerce. Cross-posted at the White House blog.

Business investment in America creates and supports millions of jobs, while generating economic growth and opportunities in communities throughout the United States.

Today at the Business Round Table in Washington, D.C., we announced a new initiative – SelectUSA – the first-ever government-wide program to aggressively pursue and win new business investment in the United States by both domestic and foreign companies.

America has the most appealing investment environment in the world, with the largest consumer market, an educated workforce, strong intellectual-property protections and open capital markets.

More than 5 million Americans are directly employed by foreign companies in the U.S., ranging from Japanese carmakers to British banks to Indian energy and industrial companies.

But at a time when competition for business investment is more intense than ever, the U.S. is the only developed economy in the world without a national-level investment program and advocacy program.

In recent years we have been losing ground in attracting and retaining business investment to better coordinated foreign competitors.

SelectUSA, established by Executive Order of the President, will leverage existing resources of the federal government to ramp up promotion of the U.S. as a prime investment destination to create jobs at home and to keep jobs from going overseas.

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