SelectUSA Summit Summary

Posted by: Takashi Namba and Doug Bruhnke on Friday, August 5, 2016

President Barack Obama led another successful SelectUSA Summit... with over 4000 attendees.

Takashi Namba of Global Chamber Greensboro attended the sessions and related events.

SelectUSA is a single point of contact for investors in the United States, providing information about federal and state-level investment programs, services, and incentives, aiding investors needing to address regulatory questions or concerns, and publicizing and encouraging government-wide initiatives to promote business investment.

Foreign Direct Investment (FDI) is important in every country. For the U.S., 5% of employment is due to foreign investment. Those companies account for 8% of U.S. employment compensation, 15% of R&D spending and 20% of exporting.

And so the impact of FDI goes way beyond employment. Specific benefits can be seen here on the SelectUSA website under FDI.

Explore the primary INDUSTRIES for growth in the U.S.

SelectUSA 2016 started with a pre-Summit orientation designed for first-time investors and U.S. economic developers.

Then Commerce Secretary Pritzker opened the Summit, discussing the resilience of the U.S. economy and the country’s high-quality workforce.

“Investors choose the United States because of the talent, ingenuity, and productivity of our people. The American economy is the strongest, most durable, most innovative economy in the world – and there has never been a better time to invest in the United States.” - Secretary Pritzker

President Obama delivered the keynote address. He noted that U.S. affiliates of foreign companies directly employ 6.1 million people in the United States, and another 5.9 million jobs are attributable to FDI through sourcing, productivity growth, and other economic effects.

These companies exported $360 billion worth of goods from the United States and spent $53 billion on U.S. research and development in 2013.

“No country has done more to build a culture of making and tinkering, and entrepreneurship and risk-taking, and of innovation and invention." - President Obama

What do to next? Read more HERE at Commerce.gov.

Read more HERE on Takashi's blog.

 

Takashi Namba, Global Chamber Greensboro

Doug Bruhnke, Global Chamber

 

 

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