Upcoming Outreach
SelectUSA conducts targeted outreach throughout the United States and around the world. Some upcoming activities include:
- U.S. Embassy London is announcing the launch of its 2013 Twitter campaign to promote UK FDI into the United States. Each of the United States’ 50 states and five territories will be given an opportunity to promote their unique cultures, histories, and attractive business climates by submitting a number of tweets that will be posted on the U.S. Embassy London Twitter account on a first-come, first-served basis throughout 2013. Historically, the UK has been the largest source of investment in the United States. In 2011, this trend continued with the UK’s FDI position standing at roughly $528 billion and representing one-fifth of all FDI into the United States. For additional information on participating in this campaign, please contact Stephanie Mulot at Stephanie.Mulot@trade.gov before Monday, December 17th.
- On December 3-4, Commercial Service China will participate in the China Overseas Investment Fair (COIFAIR) in Beijing, China. The theme for this year’s event will be “Invest and Cooperate for a Better World”. Attendance is expected to be high -- COIFAIR Secretariat has invited 5,000 multinationals and 12,000 Chinese companies to participate. For information about Commercial Service China’s participation, please contact Mark Lewis at mark.lewis@trade.gov.
- On January 29, 2013, The U.S. Commercial Service of the U.S. Embassy in France, in collaboration with the Chamber of Commerce and Industry in Paris (CCIP), will host a conference titled “Succeed in America & Go Global: How Your Business Can Thrive in the United States.” The event will target companies interested in expansion and investment in the United States. It will feature speakers outlining the current legal, fiscal, and business environment in the United States, as well as testimonials from companies currently conducting business in U.S. market. For more information please contact Myrline Mikal-Goide at Myrline.Mikal-Goide@trade.gov.
- On April 8-12, 2013, for the third consecutive year, Commercial Service Germany and SelectUSA will organize the USA Investment Center at the world’s largest industrial technology show, the Hannover Fair. The USA Investment Center is a joint pavilion of SelectUSA and participating economic development organizations from U.S. states, cities and regions. To participate, or to obtain further information and updates, please contact Ed Fantasia (Ed.Fantasia@trade.gov) and Kelly Smith-Glover (Kelly.Smith-Glover@trade.gov)..
Recent SelectUSA outreach has included:
- During the week of November 13, Executive Director of SelectUSA Steve Olson visited Kaohsiung and Taipei, Taiwan; Seoul, South Korea; and Tokyo and Osaka, Japan to underscore the importance of bilateral investment flows with key government, nonprofit, and private-sector stakeholders in each market.
- On November 13, the Commercial Section of the American Institute in Taiwan (AIT) held a SelectUSA investment seminar in Taipei for approximately 300 potential investors. AIT partnered with the Taiwan External Trade Development Council and the Ministry of Economic Affairs to organize the full-day program. Executive Director of SelectUSA Steve Olson participated in the program, which included information on investment incentives, taxes, visas and legal issues across key industry sectors. Fifteen states and territories participated including: Arkansas, Florida, Georgia, Guam, Idaho, Illinois, Indiana, Iowa, Louisiana, Maryland, Mississippi, North Carolina, Pennsylvania, Washington, and West Virginia.
- On November 13, Assistant Secretary of Commerce for Market Access and Compliance Michael Camuñez provided remarks to and met with Russian business leaders at a SelectUSA seminar hosted by the Commercial Service Moscow office. The event was held at the Ambassador’s Residence and featured presentations by tax, legal and banking experts. Economic development organizations from the United States attended the event.
- On November 27, SelectUSA participated in a panel discussion to commemorate the launch of "Swiss Foreign Direct Investment in the United States - Report 2012." Hosted by Switzerland Trade and Investment, the Swiss-American Chamber of Commerce, and Fordham University in New York, the event was attended by representatives of economic development organizations, government, and business.
FDI in Focus:
At SelectUSA, we have initiated a new section in our monthly update, “FDI in Focus,” to share with our readers interesting points about foreign direct investment (FDI) in the United States. The goal of this section will be to highlight the latest trends of global inbound investment in the United States, with the aim of bringing a wide variety of global players into focus.
Spain: Continued Partnership Toward Economic Prosperity
Spain and the United States first established diplomatic relations in 1783, and, over time, developed close and ongoing ties. The United States and Spain have maintained a Friendship, Navigation and Commerce (FCN) Treaty and a Bilateral Taxation Treaty for many years. As an EU member state, Spain is a part of largest bilateral trade relationship in the world, that between the EU and the United States.
As of 2011, Spain was the 11th largest source of investment in the United States with a position of roughly $48 billion, and in 2010 employed about 74,000 U.S. workers. Additionally, Spain is the 7th fastest growing source of FDI in the United States, with a compound annual growth rate of 26% for the five-year period from 2006 to 2011. Direct investment from Spain in the U.S. depository institutions sector represents nearly 60% of FDI from Spain to the United States. Manufacturing represents about 11% of Spain’s total FDI in the United States. Within manufacturing, chemicals manufacturing enjoys a 43% share of FDI sourced from Spain into the United States.
New Zealand: The Second Fastest Growing Source of FDI in the United States
The United States and New Zealand have a longstanding, close, and stable bilateral investment and trade relationship. The United States is New Zealand’s second largest source market for FDI, just after Australia, representing roughly 12% of all FDI into New Zealand. Additionally, FDI from New Zealand to the United States has continued to grow at substantial rates. For the period from 2006 to 2011, New Zealand was the second-fastest growing source of FDI in the United States with a compound annual growth rate of just over 56%.
FDI from New Zealand in the United States exists in a variety of industry sectors. Many New Zealand companies have chosen the U.S. market not only to expand or enhance their customer base, but also to conduct research and development and commercialize intellectual property. Prominent New Zealand firms with operations in the United States include Fisher and Paykel Appliances and Fonterra, though small- to medium-sized firms have also established themselves in the U.S. market.
Outward direct investment from New Zealand has traditionally been in the financial and insurance industry and manufacturing. New Zealand is participating in the negotiations for a Trans-Pacific Partnership (TPP) trade agreement, along with the United States, Australia, Brunei Darussalam, Canada, Chile, Malaysia, Mexico, Peru, Singapore and Vietnam. The TPP negotiations are aimed at furthering Asia-Pacific economic integration and opening up trade and investment among the partner countries. The 15th round of TPP negotiations will be held in Auckland, New Zealand from December 3-15, 2012.
*Correction: In the SelectUSA monthly update sent on November 1, 2012, it was misstated that Israel was the fastest growing source of FDI in the United States in 2011. Based on compound annual growth rate of FDI from Israel to the United States for the period from 2006 – 2011, Israel is the 17th fastest growing source of FDI in the United States. FDI stock from Israel to the United States has grown by a compound annual growth rate of 12.6%.
Reports of Note:
- The Organization for Economic Co-operation and Development (OECD) published OECD Economic Policy Paper No. 3 titled “Looking to 2060: Long-term global growth prospects.” The report projects growth over the next 50 years for both OECD as well as major non-OECD economies. These projections point to growth in non-OECD G20 countries continuing to outpace OECD countries, with the margin of difference narrowing substantially over time.
- The World Economic Forum released its Insights Report titled “The Financial Development Report 2012.” The report identifies a number of key data points and provides in-depth analysis and summaries as they pertain to financial systems across the globe. The United States continues to rank at or near the top of each of the categories addressed in this report. For example, the United States ranks the highest in financial sector liberalization, M&A activity, and securitization.
- The Congressional Research Service prepared a report for the United States Congress titled “Foreign Direct Investment in the United States: An Economic Analysis,” which provides a snapshot of FDI in the United States, and concludes that any perceived downside to FDI continues to be assuaged by the economic benefits of such investment, not least of which has meant more jobs for U.S. workers.
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