Friday, November 1

Expansion and Enhancement of President Obama's SelectUSA Initiative

On October 31st President Obama delivered remarks at the SelectUSA Summit in Washington, D.C., where he announced an aggressive expansion of the SelectUSA Initiative. SelectUSA was launched in June 2011 with the Commerce Department, State Department, White House and other federal agencies at home and around the world to actively recruit businesses and bring investment to the United States.

What does the Obama Administration say this initiative will include?

Follow the 1461

Please click here to Like us on Facebook!

SelectUSA will support states and cities to attract and compete for job-creating investment into the U.S.: SelectUSA will help regional, state, and local economic development organizations attract investment, improving coordination to increase their success rate and connecting them with overseas markets and investors through our Missions. Leveraging the federal government’s domestic networks, SelectUSA will provide new services to our domestic partners, including counseling on implementing best practice investment attraction strategies, data and analysis of investment trends to help better allocate resources in attracting job-creating investment.

SelectUSA will encourage job-creating foreign investment as a core priority in a coordinated, all hands on deck manner for the first time: Historically, the federal government has not organized to encourage job-creating investment from around the world akin to how we have coordinated global efforts to promote U.S. exports. Now, our domestic and overseas commercial teams at Commerce and State will make actively recruiting jobs and investment a top priority, ensuring that the entire team is consistently working to bring jobs to the U.S. and promote the U.S. as the premiere destination for global investment, while actively generating interested investors and working in partnership with U.S. economic development organizations (EDOs) at the state, regional, and local levels.

SelectUSA will develop the first-ever coordinated, global team to actively work to bring jobs back to the U.S. led directly by our Ambassadors: In 32 initial economies with substantial potential investments into the U.S., investment teams will develop country-specific strategies that make investment promotion a key priority, coordinated with efforts to promote U.S. exports and support U.S. businesses. Investment teams will be created as part of a phased implementation to prioritize locations with the largest potential for U.S. investment. Among other activities, Missions will expand outreach to prospective investors to consider investment to the U.S., host or participate in in-country or regional events to encourage investment, and leverage local business connections to promote U.S. investment. The expanded effort will rely on leveraging existing resources and refocusing priorities, drawing on increased support from SelectUSA headquarters. Investment metrics will be tracked globally with regular reporting to track progress and share best practices.

SelectUSA will for the first time include a seamless process to enlist top Administration officials all the way up to the President to actively advocate for high-priority investments into the U.S.: For the first time, the U.S. federal government will actively advocate with business leaders to locate production and investment in the U.S., a tactic often employed by competitor nations looking to attract investment. Previously, a state like Pennsylvania would be left to compete head-to-head with othre major industrialized nations. Now, our states, regions, and cities will have the full support of top federal officials, including the President, in advocating with businesses from around the world to select the U.S. as the location for new jobs and investment. Advocacy will be both ‘generic’, encouraging the U.S. generally, and ‘specific’, advocating on behalf of a U.S. location when a decision is down to that specific location and non-U.S. options.

SelectUSA will create for the first time single points of contact for investors looking to locate in the U.S.: SelectUSA headquarters, located at the Department of Commerce, will assign a single point-of-contact for ready investors looking to locate and create jobs in the U.S. In partnership with state and local economic development officials, SelectUSA will help investors gather the information needed to choose the U.S. as a location, navigate through federal agency processes, and provide general investment counseling support. SelectUSA headquarters will increase support for the SelectUSA Investment Teams around the world, providing them with the information, analysis, services, and process coordination needed to engage with investors and promote the U.S.

Join the conversation and post your thoughts in the comments! Read the 1461 Comment Guidelines.

1461 has reached over 1.3 Million People and counting - Daily! Join our Facebook page by clicking here!

No comments:

Post a Comment

Welcome to the 1461. Join the conversation.
If this is your first visit - read the Comment Guidelines

Remember you have a Constitutionally protected right to anonymous political free speech, not a free pass to be an ass.