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Strategic Objective

Increase high-impact inward foreign direct investment in the United States (ITA, ESA, EDA)

Strategic Objective

Increase high-impact inward foreign direct investment into the United States (ITA, ESA, EDA)

Themes:

International Affairs

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Overview
Progress Update

Overview

The United States has been the world’s largest recipient of foreign direct investment since 2006. Every day, foreign companies establish new operations in the United States or provide additional capital to existing businesses. With the world’s largest consumer market, skilled and productive workers, highly innovative culture, strong and effective legal system, predictable regulatory environment, and low cost energy resources, the United States has an attractive investment climate. In addition, the nation’s strong commitment to environmental protection adds

Progress Update

During FY 2014, the Department of Commerce (DOC) made strong progress toward increasing high-impact inward foreign direct investment into the United States through execution on several key strategies supporting this objective: leading coordinated investment promotion; providing tailored assistance to investors; providing coordinated support to states and localities to attract investment; and advocating globally for the U.S. as an investment destination. The SelectUSA program assisted more than 1,000 diverse investment clients from 83 countries and 23 industries - nearly 64% more clients assisted than in FY13 - and facilitated 15 investment deals totaling an estimated $2.1 billion and supporting more than 3,400 jobs. The Federal Interagency Investment Working Group (IIWG), convened and chaired by SelectUSA in coordination the National Economic Council (NEC), continued to coordinate interagency activities to promote business investment and respond to specific federal regulatory issues that may impact business investment decisions.

Ensuring collaboration at the state and local levels to address a range of interests and objectives that vary state-by-state while maintaining geographic neutrality has proven to be a continuing challenge. Moreover, if SelectUSA does not build program capacity and sustainability staffing up in headquarters and overseas, improving business processes, services and technology capabilities, then SelectUSA will not be able to scale up investment promotion and client management activities across DOC and the IIWG.

FY 2014 Accomplishments include:

SelectUSA concluded three Memoranda of Intent (MOI) with the India Export-Import Bank, ProMexico, and Apex-Brazil to enhance cooperation and foster investment.
SelectUSA successfully procured a comprehensive, accurate, and updated web-based database of all business incentives offered by U.S. states which will assist clients, including international firms, considering locating in the United States and will directly encourage, facilitate and accelerate business investment in the U.S.
FY 14 investments as a result of SelectUSA assistance include: Lufthansa Technik, a German Aerospace company that invested $60 million to build a new aviation maintenance, repair, and overhaul facility; Richelieu Legwear, a Canadian textile company that invested $16 million in a state-of-the-art manufacturing facility in North Carolina and is estimated to create 205 jobs over the next five years; Yuhuang Chemical, a Chinese chemical company that invested $1.85 billion for a methanol production investment in Louisiana that is estimated to create 400 new jobs; and Haifa Chemicals, an Israeli chemical company that invested $12 million in Georgia for the construction of a controlled release fertilizer manufacturing plant.
SelectUSA leveraged 198 major events (e.g., industry trade shows, road shows, trade missions, media events) in 38 countries around the world, including in key focus markets such as the U.K., Germany, Italy, Canada, Mexico, Brazil, China, Singapore, Israel, India and Australia, to promote the United States to approximately 60,000 potential investors.
The Economic Development Administration (EDA) awarded economic development grants to help communities and regions build the capacity to support inward investment. These are, according to recipients, estimated to create and/or retain approximately 5,000 jobs and result in $2.9B in private investment.
The Department, in conjunction with the International Economic Development Council (IEDC), hosted the third White House Forum on Economic Development, at which approximately 60 economic development leaders from across the country engaged on competitiveness issues, including inbound investment.

Next Steps in FY 2015:

FY2015 Q1-2 – Identify IIWG priorities, objectives, capabilities, and strategic federal investment barriers to optimize client assistance.
FY2015 Q2 – Host the 2015 SelectUSA Investment Summit on March 23-24, 2015.
FY2015 Q1-4 – Engage Economic Development Organizations to provide state-by-state information and investment opportunities.
FY2015 Q1-2 – Develop and expand a digital, online web presence and social media strategy that includes a range of tools and resources.
FY2015 Q1-4 – Award and administer EDA grants.

Expand All

Strategic Goals

Strategic Goal:

Expand the U.S. economy through increased exports and inward foreign investment that lead to more and better American jobs

Statement:

Expand the U.S. economy through increased exports and inward foreign investment that lead to more and better American jobs

Strategic Objectives

Increase opportunities for U.S. companies by opening markets globally (ITA, USPTO, NTIA, NOAA)

Statement:

Increase opportunities for U.S. companies by opening markets globally (ITA, USPTO, NTIA, NOAA)

Description:

The strength of the U.S. economy continues to depend on competitive manufacturing and services sectors and a vibrant open global marketplace. Growth in key foreign markets will help drive global economic recovery. More than one billion new consumers worldwide will enter the middle class during the next 15 years, and their buying power will increase the consumption of goods and services worldwide.

As economies around the world grow, some foreign governments develop policies that create barriers to U.S. companies in those markets. Such trade barriers and other unfair trade practices cost U.S. companies billions of dollars in lost revenue. Trade barriers result not only in financial loss, but also limit the ability of U.S. companies to expand production, hire additional workers, or pursue investment opportunities. Studies indicate that trade openness has added between $800 billion to $1.4 trillion to the U.S. economy since World War II, amounting to $7 thousand to $13 thousand per U.S. household.Removing the remaining trade barriers could result in an additional $400 billion to $1.3 trillion annually, or about an additional $4 thousand to $12 thousand per U.S. household.

The Department will deploy its policy and promotional tools to help U.S. firms compete for new opportunities globally. A renewed focus on global competitiveness will help strengthen the long-term health of U.S. industries and stimulate domestic job creation. The Department will also use its strong expertise on export promotion and industry-economic-country issues to conduct holistic analyses of U.S. trade issues and needs, make recommendations, and take actions.

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FY 14-15 Priority Goal: Companies assisted by Global Markets that achieve export objectives

Statement:

By September 30, 2015, the Department of Commerce will increase the percentage of companies assisted by Global Markets that achieve their export objectives to 71 percent.

Description:

Exports are important to U.S. economic prosperity. The International Trade Administration (ITA) is committed to providing high-quality assistance that helps U.S. companies achieve their export objectives. This priority goal focuses on improving the quality of assistance ITA’s trade and commercial specialists provide to companies. ITA’s delivery of substantive, high value-added assistance is affirmed when companies receiving this assistance respond that they have achieved their export objectives. The Global Markets business unit within ITA is the organizational lead on this priority goal. It is imperative that Global Markets staff worldwide – all of whom interact with U.S. companies – are unified behind a common goal that focuses on unique needs of our customers. The FY12 – FY13 baseline average percentage of companies assisted that achieved their export objectives is 67 percent for ITA’s fee-for-service clients. To achieve this priority goal, Global Markets has sought to understand individual U.S. company needs to be successful internationally and, subsequently, offered a customized approach that draws on the full resources available across ITA and the Federal Government to meet those needs. This strategic shift towards offering a more consultative approach steers ITA professionals toward identifying the problems and challenges with exporting, and designing holistic solutions. It focuses ITA on engaging with clients to offer substantive, high value-added assistance, such as helping companies select the best markets to enter, overcoming export trade barriers, or finding suitable international business partners.

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Increase U.S. exports by broadening and deepening the U.S. exporter base (ITA, BIS, ESA, MBDA, EDA)

Statement:

Increase U.S. exports by broadening and deepening the U.S. exporter base (ITA, BIS, ESA, MBDA, EDA)

Description:

Recognizing the important role of exports to the U.S. economy, President Obama announced the National Export Initiative in 2010. U.S. exports have increased steadily since the launch of this initiative, reaching a record $2.2 trillion in 2012. However, the nation still remains below its full export potential. U.S. firms under-export compared to competitor industrialized nations. Of the U.S. companies that do export merchandise, 58 percent export to only one market. The International Monetary Fund forecasts that approximately 80 percent of world economic growth over the next five years (2014 – 2018) will take place outside of the United States. Yet many small and medium-sized companies in the US, the engines of economic growth and innovation, rarely export.

The Department, through its programs, expertise, and global presence, is uniquely positioned to help U.S. companies understand the importance of exporting. Department research and analyses can identify the best export opportunities for U.S. goods and services. With offices located in more than 70 countries, 48 U.S. states, Puerto Rico and Washington D.C., Department experts help U.S. companies access valuable market information, promote their products and services in target foreign markets, meet qualified international buyers and distributors, and overcome challenges and barriers when they do business overseas. Moreover, the Secretary of Commerce, as chair of the Trade Promotion Coordinating Committee, will lead the national export strategy, set priorities, and drive federal efforts to increase exports.

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FY 14-15 Priority Goal: Companies assisted by Global Markets that achieve export objectives

Statement:

By September 30, 2015, the Department of Commerce will increase the percentage of companies assisted by Global Markets that achieve their export objectives to 71 percent.

Description:

Learn More

Increase high-impact inward foreign direct investment in the United States (ITA, ESA, EDA)

Statement:

Increase high-impact inward foreign direct investment into the United States (ITA, ESA, EDA)

Description:

Learn More

FY 14-15 Priority Goal: Companies assisted by Global Markets that achieve export objectives

Statement:

By September 30, 2015, the Department of Commerce will increase the percentage of companies assisted by Global Markets that achieve their export objectives to 71 percent.

Description:

Learn More

Strengthen fair competition in international trade for U.S. firms and workers by addressing and resolving foreign unfair trade practices and enforcing international trade agreements (ITA)

Statement:

Strengthen fair competition in international trade for U.S. firms and workers by addressing and resolving foreign unfair trade practices and enforcing international trade agreements (ITA)

Description:

Efforts to enhance U.S. commercial competitiveness and maximize potential U.S. exports can be thwarted by unfair and injurious practices of foreign firms and their governments. Only with a level playing field can U.S. companies strengthen and develop the capacity to expand into new markets or maintain market share at home and abroad.

As the federal agency charged with administering the U.S. antidumping and countervailing duty laws, the Department’s International Trade Administration (ITA) helps domestic manufacturers compete against unfairly traded imports into the United States. ITA’s petition counseling unit helps U.S. workers and firms who assert damage from violations. Focus is on assuring that small and medium-sized enterprises understand their rights and the requirements for filing a petition to initiate an investigation of possible foreign dumping and subsidization. Once petitions seeking relief under the trade remedy laws are filed, ITA investigates the allegations. When imports are found to be dumped or subsidized and a cause of injury to U.S. industry, ITA instructs U.S. Customs and Border Protection to collect duties to offset the impact.

The Department also offers assistance to U.S. exporters and investors, particularly small and medium-sized enterprises, by coordinating government resources to overcome trade barriers. This assistance educates U.S. industry on international trade agreements that maintain open markets . ITA’s trade experts monitor foreign government compliance with the more than 250 trade agreements so companies, investors, and workers realize the benefits of the agreements. Through its full range of legal, analytical, investigatory, trade policy, and commercial expertise, the Department provides robust and comprehensive services to help U.S. exporters confront, forestall, and resolve foreign unfair trade practices.

Learn More

FY 14-15 Priority Goal: Companies assisted by Global Markets that achieve export objectives

Statement:

By September 30, 2015, the Department of Commerce will increase the percentage of companies assisted by Global Markets that achieve their export objectives to 71 percent.

Description:

Learn More

Agency Priority Goals

FY 14-15: Companies assisted by Global Markets that achieve export objectives

Statement:

By September 30, 2015, the Department of Commerce will increase the percentage of companies assisted by Global Markets that achieve their export objectives to 71 percent.

Description:

Learn More

Agency Priority Goals

FY 14-15 Agency Priority Goal:

Companies assisted by Global Markets that achieve export objectives

Statement:

By September 30, 2015, the Department of Commerce will increase the percentage of companies assisted by Global Markets that achieve their export objectives to 71 percent.

Description:

Learn More

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