SelectTalentUSA Aims To Increase Quality Jobs Through FDI

Joint initiative strengthens federal technical assistance to foreign multinationals starting or expanding U.S. operations. Plus, largest Investment Summit in SelectUSA history wraps up.

Launched earlier this month, SelectTalentUSA will build a pipeline of skilled workers to meet the growing workforce needs of foreign companies as they establish new or expand existing operations in the United States. The new joint initiative of the Departments of Commerce, Labor, and Education seeks to help foreign investors build local and state partnerships, adapt their traditional talent-development approaches to the U.S., and harness the advantages of the U.S. workforce.

SelectTalentUSA, U.S. Department of CommerceSelectTalentUSA supports U.S. Department of Commerce efforts to promote foreign direct investment (FDI). The initiative also responds to the challenges that foreign investors face as they enter the U.S. by providing information and connections on how to access and leverage the nation’s diverse workforce.

“Ensuring we have a well-trained workforce is critical to spurring more foreign direct investment in the United States,” said Secretary of Commerce Gina Raimondo. “By connecting foreign multinationals to federal and local partnerships that train American workers, SelectTalentUSA will help encourage investment in America, create good-paying jobs, and get workers the skills they need to compete and thrive.”

“Promoting student achievement and equipping students with the skills they need to be globally competitive is a core objective of our Raise the Bar: Lead the World initiative,” said Secretary of Education Miguel Cardona. “SelectTalentUSA is an opportunity to showcase the outstanding and diverse talent that we have in this country, demonstrate our commitment to preparing the next generation of students to drive innovation in the workforce, and drive home why companies around the world should consider investing in America a smart investment.”

“Improving equitable access to good jobs helps to build an economy that works for everyone,” said Acting Secretary of Labor Julie Su. “Leveraging our partnerships through SelectTalentUSA helps foreign investors establish and expand access to a skilled and diverse workforce and underscores our commitment to ensuring the U.S. retains its place among the most productive and innovative economies in the world.”

Commerce, Labor, and Education will pilot the program this year with a focus on the German, Swiss, and Austrian markets, building upon existing cooperation with those countries on expanding apprenticeships. The three departments have created a Joint Declaration of Intent with the federal government of Germany and Memoranda of Understanding with Switzerland and Austria—each meant to increase cooperation and exchange of information on the countries’ well-established and highly successful apprenticeship systems.

Along with over 20 other departments, Commerce, Labor, and Education comprise the SelectUSA-led Interagency Investment Working Group (IIWG) to increase coordination and provide guidance and information related to specific and broad-reaching issues that affect business investment decisions. SelectTalentUSA will leverage the IIWG to connect foreign investors to the resources and experts to establish quality training and education programs.

SelectUSA Hosts Largest-Ever Investment Summit

Last week, the 2023 SelectUSA Investment Summit came to a close, marking the largest Investment Summit in SelectUSA history, with 4,900 attendees spanning 83 international markets represented.

2023 SelectUSA Summit
During the 2023 SelectUSA Summit, U.S. Commerce Secretary Gina Raimondo hosted a one-on-one discussion about empowering women in the tech sector with Nextdoor CEO Sarah Friar. (Source: U.S. Department of Commerce)

“This year’s record-setting SelectUSA Investment Summit has shown why the United States has remained the top destination for global investment for over a decade, and why the incredible investments we’re making under President Biden’s leadership, including through the CHIPS Act, Inflation Reduction Act and Bipartisan Infrastructure Law, will help keep us at the top for the next decade and beyond,” said Raimondo. “Thanks to these investments and the work of the SelectUSA team, we are building on the $248 billion in investments by foreign-owned companies since the start of the Biden-Harris Administration to create good jobs for American workers and tremendous growth opportunities for our country and foreign businesses.”

Here are some facts and figures about the 2023 SelectUSA Investment Summit:

  • 4,900+ attendees
  • Representation from 55 U.S. states and territories
  • 83 international markets represented
  • 2,300+ foreign investors
  • 16 U.S. state and territory governors (AZ, DE, IN, KS, LA, ME, MD, MA, MI, NC, OK; TERR: AS, GU, MP, PR, and VI)
  • Governors from all 5 U.S. territories attended in person for the first time ever
  • 6 Cabinet members (Commerce, State, Energy, Education, Transportation, and USTR)
  • Top White House Senior Advisors and Administration officials
  • 230+ speakers
  • Over 600+ economic development organization representatives attended
  • 21 U.S. Ambassadors and Chiefs of Mission led foreign delegations to the Investment Summit

The 2024 SelectUSA Investment Summit will be held June 23-26, 2024, at the Gaylord National Resort and Convention Center, National Harbor, MD.

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