U.S. Secretary of Commerce Gina Raimondo Appoints Members of U.S. Investment Advisory Council (IAC)

U.S. Secretary of Commerce Gina Raimondo Appoints Members of U.S. Investment Advisory Council (IAC)
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Mon, 08/22/2022 – 11:42

Export and investment promotion

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Monday, August 22, 2022

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Council Advises the Secretary on Issues Affecting Foreign Business Investment and Economic Development

Today, U.S. Secretary of Commerce Gina Raimondo announced the names of 34 international business and economic leaders who will advise the Secretary of Commerce on how government policies and programs affect the United States’ ability to attract and facilitate foreign business investment.

“For the last decade, the United States has held the position as the number one destination for foreign direct investment (FDI) thanks to our incredible customer base, innovative culture, and world-class workforce,” said Secretary Raimondo. “The U.S. Investment Advisory Council will play a vital role in providing recommendations on programs and policies to continue to attract and retain foreign investment in the United States. Representation from business and economic leaders on the Council is critical to our global success, and I am excited to welcome our new members and look forward to working with them.”

The United States Investment Advisory Council (IAC), which was first chartered in April 2016, serves as the principal advisory body to the Secretary of Commerce on the promotion and retention of FDI to the United States.  Since inception, the IAC has put forth actionable initiatives to attract and retain FDI.  Past recommendations include programs and policies related to infrastructure investment priorities, improving U.S. workforce development initiatives, and improving digital tools to support economic development.

The full membership list provided below includes representatives of state and regional economic development teams, global businesses, and associations:

1. Barbara Humpton, President and CEO , Siemens Corporation
2. Benjamin H. Wu, President and CEO, Montgomery County Economic Development Corporation
3. Brad Chambers, Secretary of Commerce, State of Indiana and CEO of Indiana Economic Development Corporation
4. Chris Camacho, President and CEO, Greater Phoenix Economic Council
5. Christian Koenig, Founding Partner, KOENIG Communications
6. Christopher Chung, Chief Executive Officer, Economic Development Partnership of North Carolina
7. David Carlebach, Vice President, International Investment, World Trade Center Utah
8. Don Pierson, Secretary of Commerce , Louisiana Economic Development
9. Emily Desai, Deputy Director for International Affairs and Trade, California Governor’s Office of Business & Economic Development (GO-Biz)
10. Gary Sumihiro, Founder, CEO, Sumihiro Investments, LLC
11. Guy Eristoff, Chief Strategy Officer and Head of Pathfinder Activities, Tower Semiconductor
12. Hicham Abdessamad, Chairman & CEO, Hitachi America, Ltd.
13. Jane Thomas, President, Teijin Holdings USA
14. Jennifer Springer, Director of Business Development, Oklahoma
15. Jewell Sparks, Managing Director, BITHOUSE Venture Group Inc/UNITED 17 Ventures UG
16. Jonathan R. Everhart, CEO, Global ReEnergy Holdings
17. Josh Davis, Vice President of Global Trade and Investment, Greater Seattle Partners
18. Kevin Richards, Vice President, Head of U.S. Government Affairs, SAP America, Inc.
19. Michael Edgar, President, GWDC/SelectChicago
20. Michael McCabe, Resident Director, North America, Tata Sons Private Ltd
21. Mike Graff, Chairman and CEO, Air Liquide USA LLC
22. Nancy McLernon, President and CEO, Global Business Alliance
23. Quentin Messer, CEO, Michigan Economic Development Corporation
24. Richard H. Chin, President and Head of the Global Development Group, SK Group
25. Rob Rae, Director and Co-founder, Littus
26. Robert Hess, Vice Chairman, Global Strategy and Global Corporate Services, NEWMARK
27. Rodger Libby, Vice President and Head of Corporate Public Affairs, Deutsche Post DHL Group in the Americas
28. Sandra Watson, President and CEO, Arizona Commerce Authority
29. Scott C. Kuehn, Senior manager, Economic & Business Development, American Electric Power
30. Seth Martindale, Senior Managing Director Site Selection (FDI) and Economic Incentive Negotiation Lead, CBRE, Inc.
31. Stephen E. Spence, Director, International Development, West Virginia Department of Economic Development
32. Tom Osborne, Executive Director, Infrastructure, IFM Investors
33. Wilmer A. Arroyo Alvarado, President, Khronos Corporation
34. Yosuke J.O. Honjo, President & CEO, ITO EN (North America) INC.

The United States is home to more FDI than any other country in the world, with a total stock of FDI valued at approximately $5 trillion at the end of 2021, according to the latest data from the Bureau of Economic Analysis. FDI supports nearly 8 million American jobs and was responsible for $397 billion in U.S. goods exports in 2019.

The IAC acts as a liaison among the stakeholders represented by the membership and provides a forum for them to discuss and develop recommendations on current and emerging issues regarding FDI.  The IAC surveys and evaluates the investment and investment-facilitating activities of stakeholders, identifies and examines specific problems facing potential foreign investors, and assesses the needs of stakeholders to inform the IAC’s efforts.  Ultimately the IAC recommends specific solutions to the problems and needs that it identifies throughout the process.

About the IAC

The United States Investment Advisory Council advises the Secretary of Commerce on the development and implementation of strategies and programs to attract and retain foreign direct investment (FDI) in the United States.  The IAC can have up to 40 members who serve a two-year term. Members are business or economic development leaders representing various industries, companies, associations, regional, state and local economic development organizations, and other organizations.  The IAC is responsible for: advising the Secretary of Commerce on U.S. government policies and programs that affect FDI; identifying and recommending programs and policies to help the United States attract and retain FDI; and recommending ways to support the United States remaining the world’s preeminent destination for FDI. For more information, visit www.trade.gov/selectusa-investment-advisory-council.

About SelectUSA

Housed within the U.S. Department of Commerce’s International Trade Administration, SelectUSA promotes and facilitates business investment in the United States. SelectUSA assists U.S. economic development organizations to compete globally for investment by providing information, a platform for international marketing, and high-level advocacy. SelectUSA also helps investors find the information they need to make decisions, connect to the right people at the local level, navigate the federal regulatory system, and find solutions to issues related to the federal government. For more information, visit www.trade.gov/selectusa.  

Bureaus and Offices

International Trade Administration

Leadership

Gina M. Raimondo

Tags

Secretary Gina Raimondo
Foreign direct investment [FDI]

Read the full report from the U.S. Department of Commerce: Read More