Welcome Remarks by U.S. Secretary of Commerce Gina Raimondo at the 2023 SelectUSA Investment Summit
May 2, 2023
Welcome Remarks by U.S. Secretary of Commerce Gina Raimondo at the 2023 SelectUSA Investment Summit
ASowah@doc.gov
Tue, 05/02/2023 – 10:31
Export and investment promotion
AS PREPARED FOR DELIVERY
Tuesday, May 2, 2023
Office of Public Affairs
publicaffairs@doc.gov
Welcome to the 2023 SelectUSA Investment Summit. I’d like to extend a special welcome to those who are joining us for the first time. And thank you to those joining us yet again.
SelectUSA is the premier U.S.-government initiative dedicated to facilitating job-creating business investment by foreign investors in the American market. This week, you’ll hear about the partnership and investment opportunities for you and your business here in the United States – and I hope you meet some new potential partners as well.
There is no better place to bring your business than the United States. We offer unmatched diversity, a culture of innovation, and the world’s most productive workforce. For 11 years in a row, the U.S. has been the leading country for foreign direct investment. Under the Biden Administration, foreign-owned companies have announced a record-breaking $248 billion in capital expenditure in the United States.
And thanks to President Biden’s Investing in America agenda, we’re laying the foundation for even more investment opportunities to come.
The landmark CHIPS and Science Act includes historic investments in our semiconductor industry to unleash the next generation of American innovation, create a highly skilled workforce, strengthen our supply chains, and preserve our global economic competitiveness.
Likewise, the Inflation Reduction Act is the single largest investment in climate and clean energy solutions in U.S. history. It’s going to support investments from around the world to help America – and its businesses and workers – remain the global leader in clean energy technology, manufacturing, and innovation.
We are also developing brand-new initiatives to drive innovation and good jobs throughout America. Our groundbreaking Tech Hubs program will ensure that the industries of the future, and the jobs they create, start, grow, and remain in communities in every corner of the U.S.
You’ll learn about these initiatives and more at this year’s summit. You’ll also have the opportunity to meet federal, state, and local representatives as well as businesspeople from over 80 international markets representing a variety of sectors. And you’ll hear high-profile business and government leaders share their insights on the latest global and domestic market trends. Everyone here is dedicated to helping your business grow and succeed in the U.S.
The Investment Summit’s record speaks for itself. Past participants have announced more than $103 billion in U.S. investment projects within five years of attending, supporting over 167,000 U.S. jobs. And many of this year’s participants will announce plans to invest in the U.S.
And the SelectUSA team is ready to work with you to ensure that you feel confident investing here too. Thank you all for being here. I hope you have a wonderful experience at the 2023 SelectUSA Investment Summit.
Bureaus and Offices
International Trade Administration
Leadership
Gina M. Raimondo
Tags
SelectUSA Investment Summit
SelectUSA
Foreign direct investment [FDI]
Read the full report from the U.S. Department of Commerce: Read More
