Since it was established in 2011, the U.S. Department of Commerce’s SelectUSA program has facilitated more than $200 billion in client-verified foreign direct investment (FDI). These investments have supported more than 200,000 jobs throughout the U.S. and its territories.
“SelectUSA continues to serve as an indispensable tool within the Department of Commerce to attract FDI into the United States and help create good-paying jobs across the country,” said U.S. Secretary of Commerce Gina Raimondo. “2023 was a groundbreaking year for the SelectUSA program, with President Biden’s historic Investing in America agenda driving investments in critical industries like semiconductors and clean energy. Workers all over the nation are seeing the benefits of SelectUSA’s work to promote FDI and the President’s commitment to investing in our country.”
The announcement came on the heels of a strong year for the SelectUSA program, which facilitated more than $55 billion in client-verified FDI, supporting more than 35,000 American jobs in fiscal year 2023. This FDI figure represents more than a quarter of the total announced FDI facilitated by SelectUSA since its inception in 2011. SelectUSA-supported investments span critical industries ranging from rare earths facilities in Texas to lithium-ion batteries manufacturing in Kansas to pharmaceutical manufacturing in Puerto Rico.
Listen Now: At LiveXchange With Michael Edgar On FDI
Insights on FDI trends and strategies are the focus of this recent talk with Michael Edgar, Founder and President of SelectGlobal, while at LiveXchange Emerging Industries in Columbus, OH.
For 11 years consecutively, the U.S. has ranked as the world’s top destination for FDI, reflecting the continued strength of the nation’s economy. According to the latest data from the Bureau of Economic Analysis (BEA), FDI is responsible for over 15 million total direct and indirect jobs across the U.S.
Housed within Commerce’s International Trade Administration, the SelectUSA program promotes and facilitates business investment into the U.S. by coordinating related federal government agencies to serve as a single point of contact for investors and raises awareness of the critical role that economic development plays in the U.S. economy. 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 business 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.
