Fred W. Volcansek, Sr., the Executive Director of the U.S. Department of Commerce’s SelectUSA program, discusses how foreign direct investment contributes to the U.S. economy and how SelectUSA helps businesses of all sizes.
For the fifth year in a row, global business executives named the United States as the top destination for business investment, according to A.T. Kearney’s Foreign Direct Investment (FDI) Confidence Index. Foreign-owned businesses spent $57 billion on research & development (R&D) in the United States in 2014 alone.
Listen to the Recording
SelectUSA is a U.S. government-wide program housed in the International Trade Administration at the United States Department of Commerce. Since its inception, SelectUSA has facilitated more than $23 billion in investment, creating and/or retaining tens of thousands of U.S. jobs.
Its mission is to facilitate job-creating business investment into the United States and raise awareness of the critical role that foreign direct investment (FDI) plays in the U.S. economy.
As chair of the Federal Interagency Investment Working Group (IIWG), SelectUSA works with more than 20 federal agencies and bureaus to increase coordination and provide guidance and information to respond to specific and broad-reaching issues that affect business investment decisions. Through its ombudsman services, SelectUSA collaborates with IIWG agency partners to help address investor questions and concerns relating to a wide range of federal regulatory issues.
SelectUSA helps companies of all sizes find the information they need to make decisions; connect to the right people at the local level; and navigate the federal regulatory system. SelectUSA also assists U.S. economic development organizations to compete globally for investment by providing information, a platform for international marketing, and high-level advocacy.