Posted at 11:38 AM
Today, U.S. Secretary of Commerce Penny Pritzker issued the following statement on SATA USA’s $114 million investment in Brownsville, Texas. SATA USA, a subsidiary of Italy-based SATA Group, plans to establish a machining operation that will create 300 jobs over a 10-year period.
The announcement of SATA USA’s investment in Texas comes one day after the release of AT Kearney’s annual Foreign Direct Investment Confidence Index, which ranked the United States as the top FDI destination for the fourth year in a row. “Congratulations to the city of Brownsville and to SATA USA,” said U.S. Secretary of Commerce Penny Pritzker. “SATA USA’s decision to establish their new facility in Texas underscores what AT Kearney’s 2016 ranking has already revealed: there has never been a better time to invest in America.
“At the Department of Commerce, we are proud to lead the SelectUSA program, a coordinated federal effort to attract foreign direct investment. This deal shows the value of cooperation across the local, state, and federal levels to bring new job-creating investments to our communities.”
Preliminary numbers from the U.S. Bureau of Economic Analysis show that foreign direct investment flows into the United States totaled $380 billion in 2015. The United States has led the world in FDI attraction nine out of the past 10 years, showing that investors remain confident in the quality of the investment environment and the diversity of opportunities in the United States.
Housed within the Department of Commerce, SelectUSA is the U.S. government-wide program to promote and facilitate job-creating investment into the United States. Working together with Brownsville, SelectUSA coordinated efforts by Secretary Pritzker, U.S. Ambassador to Italy John Phillips, SelectUSA Executive Director Vinai Thummalapally, and others to encourage SATA USA to locate this investment in the United States.
About SelectUSA: SelectUSA assists U.S. economic development organizations to compete globally for investment by providing information, a platform for international marketing, and high-level advocacy. SelectUSA also helps investors find the information they need to make decisions; connect to the right people at the local level; and navigate the federal regulatory system. To learn more, visit www.SelectUSA.gov. To learn about the third SelectUSA Investment Summit (June 19-21, 2016) visit www.selectusasummit.us.