Promoting Business Investment in the United States: SelectUSA Services for U.S. State and Local Economic Development Organizations Tazeem Pasha Manager,
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
Promoting Business Investment in the United States: SelectUSA Services for U.S. State and Local Economic Development Organizations
Tazeem PashaManager, Global Business AttractionSelectUSA, U.S. Department of CommerceFriday, September 28, 2012
• SelectUSA was in the Office of the Secretary until Nov. 3 when it came into the Commercial Service
• Primary U.S. Government Effort to Support Business Investment in the United States
• Geographically neutral in the United States
• What We Do:1. Act as Information Clearinghouse2. Act as Ombudsman3. Act as Advocate4. Connect Investors with U.S. States5. Provide Policy Guidance6. Educate Investors7. Provide Guidance to U.S. Economic Development Organizations8. Co-chair the Interagency Investment Working Group
• Help firms learn about• The ease and benefits of doing business in the U.S. • The profiles of different U.S. industries• Foreign direct investment statistics
• Provide information on U.S. policies and help firms comply with regulations in setting up and operating their business
• Work directly with firms to resolve any problems on a case-by-case basis
• Connect firms with local or state resources for investment opportunities and incentives• Connect firms to industry associations for industry-specific information and potential business partners
• Help firms locate federal programs and incentives for business retention and expansion
• Identify and work to remove barriers to success in cooperation with federal agencies
SelectUSA provides actionable information to firms to help them…
• Incorporate a business in the U.S.• Understand basic U.S. tax and legal concepts• Learn about incentives available to businesses in the U.S.• Connect with U.S. state, city, or regional economic development offices to learn
about investment opportunities• Apply for a business-related visa
Foreign investors can communicate with SelectUSA by phone or email in Washington, DC, or meet with members of the U.S. Foreign Commercial Service around the world.
Domestic and International Outreach: Raise awareness about the U.S. investment climate by leveraging platforms that maximize impact upon clients. Outreach channels include:
• Integrated media campaign including earned press coverage, publishing articles to highlight the U.S. climate, targeted advertising and other initiatives
• Introducing investment promotion opportunities to U.S. EDOs like trade missions, in-market visits, single location promotion programs and other initiatives
• Extending the SelectUSA expertise to targeted programs that maximize its exposure to its clients through speaking opportunities, seminars and conferences
• Training programs for multipliers like U.S. EDOs, USG agencies and others that interface with SelectUSA clients through their own organizations
The U.S. and Turkey agreed to be the central point of contact for existing and potential foreign investors seeking information and opportunities and to provide mutual assistance to investors in contacting investment and industry experts in the other country
January 2011: Republic of Turkey Prime Ministry Investment Support and Promotion Agency (ISPAT)
SelectUSA Memoranda of Intent with China, India, Russia and TurkeyOctober 2009: China Investment Promotion Agency (CIPA)
The U.S. and China agreed to pursue strengthened bilateral investment ties, expanded business cooperation between U.S. and Chinese enterprises, and enhanced economic growth opportunities.
November 2009: Invest India
“Today’s agreement will enhance promotion of FDI that leads to increased exports…, playing an integral role in getting Americans back to work.” (Michelle O’Neill, Acting Under Secretary of Commerce for International Trade)
April 2010: Russian Ministry of Economic Development
The U.S. and Russia agreed to pursue strengthened bilateral investment ties, expanded business cooperation between U.S. and Russian enterprises, and enhanced economic growth opportunities.
1 United Kingdom 527.82 Japan 293.83 Germany 265.44 Canada 244.65 France 201.96 Netherlands 132.57 Switzerland 126.18 Ireland 98.29 Australia 58.6
10 Belgium 53.1
38.6% | $98.1b33.4% | $53.1b25.8% | $48.0b
56.1% | $6.0b
71.3% | $9.5b
28.8% | $22.4b
26% | $9.8b
U.S. FDI TrendsTop 10 FDI Growth Markets, 2011
Note: Numbers denote 5 year compound annual growth rate (2007-2011) of the stock FDI position and the total stock of FDI in the United StatesSource: Department of Commerce, Bureau of Economic Analysis – FDI by Ultimate Beneficiary Owner
FDI and the U.S. EconomyTop 10 FDI Growth Sectors in the United States
(Compound annual growth rate in FDI position between 2006 and 2011 on a historical cost basis)
*“Other Manufacturing” does not include food, chemicals, primary and fabricated metals, machinery, computers and electronic products, electrical equipment, appliances and components, and transportation equipment.
finance & insurance
computers & electronic products
transportation equipment
total manufacturing
chemicals
other industries
retail trade
*other manufacturing
machinery
professional, scientific, and technical services
0% 2% 4% 6% 8% 10% 12% 14%
What SelectUSA does NOT do (and why not)
SelectUSA does NOT … Because…
Generate investor leads- Violates geographic neutrality- Domain of state/local U.S. EDOs
Promote one U.S. location over another
-Violates geographic neutrality
Provide direct assistance to foreign firms
- U.S. government does not offer direct assistance to any firms
Match- making -Violates geographic neutrality
Invitation Letters for Visas - Outside of SelectUSA scope