Guest blog post by Barry Johnson, executive director of SelectUSA
Today, Commerce Secretary John Bryson met with a number of U.S. ambassadors to countries where SelectUSA, the first federal initiative to help drive investment to the United States to create American jobs, is being implemented. The Commerce Department recently launched SelectUSA in ten countries, including China, Brazil, India and South Korea, and their discussion focused on opportunities for further collaboration. The ambassadors were visiting Washington as part of the State Department’s Global Chiefs of Mission Conference.
One of Secretary Bryson’s top priorities is attracting more investment to the United States to create good American jobs. The Commerce Department, through SelectUSA, is helping to tell the story of why America is the best place for companies from around the world to invest, to hire and to build the future of their businesses.
As part of SelectUSA, the Commerce Department will serve businesses seeking to invest or expand in the U.S. and the state, cities and regions that they seek to attract and host the business. SelectUSA serves as an information clearinghouse on federal rules, regulations and resources; advocates on behalf of the U.S. as the premier investment destination; and functions as an ombudsman to resolve federal-level problems, issues and impediments to investment.
The Commerce Department just finished two-day training sessions with commercial service officers in ten fast-growing pilot markets to conduct outreach to potential investors and perform SelectUSA investment promotion. Together, these countries represent approximately 30 percent of all foreign direct investment (FDI) in the United States. They also reflect both the largest and fastest growing sources of FDI, as well as posts that have been the most active on investment promotion issues.Later this year, SelectUSA activities will be expanded to 15 additional markets that make up the top 25 sources of FDI. Together, these 25 markets represent 90 percent of all FDI in the United States.
In addition, the Commerce Department will be hosting the first annual SelectUSA Investment Summit this fall. We will bring companies from around the world to meet with state and local officials who will tell our story of why America is the best place to invest, to hire, and to build their businesses over time.
By working with businesses, economic development organizations, local chambers of commerce, international partners, and across government agencies, SelectUSA will actively support the attraction, retention and insourcing of more business investment in America. Increasing investment in the U.S. is crucial to growing the economy and creating good jobs, and SelectUSA is just one way the Commerce Department is working to create an American economy that’s built to last.