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October 2014

Success Story: Italian Owned, American Made

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The $50 million Del Conca Facility in Louden, TN

The USA is the premier location for new business investment, top among all countries. According to Department of Commerce data released in Spring 2014, foreign direct investment flows into the United States and its territories rose from $160 billion in 2012 to $187.5 billion in 2013.

In Tennessee, an EDA investment is having a tremendous impact by helping to attract a premier Italian tile manufacturer. Earlier this year, Del Conca USA (DCUSA) celebrated the opening of its new $50 million facility in the Sugarlimb Industrial Park in Louden. The company forecasts the production of 30-million-square-feet of tile per year.

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Guest Column: Strengthening Global Investment in America’s Future

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Nancy McLernon, President and CEO of the Organization for International Investment (OFII)

By Nancy McLernon

Nancy McLernon is president and CEO of the Organization for International Investment (www.OFII.org).  A non-profit association, OFII represents the U.S. operations of many of the world's leading global companies, which insource millions of American jobs. OFII works to ensure the United States remains the top location for global investment. 

A year ago, President Obama made the welcome announcement that attracting global investment must be a top priority for the federal government. It was part of the Administration’s continued effort to pursue aggressively foreign direct investment (FDI) through its SelectUSA program.

Why is foreign direct investment so important? First, it supports U.S. jobs.  Currently, U.S. subsidiaries of global companies employ 5.6 million Americans and add a staggering $736 billion in value to the U.S. economy every year. These insourcing companies represent more than 17 percent of our manufacturing workforce, are responsible for 16 percent of all domestic research and development activities, produce more than 20 percent of all U.S. exports, and pay 16 percent of all corporate income taxes.

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Highlight: 2015 SelectUSA Investment Summit: On your mark… get set…

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President Obama Addresses the 2014 SelectUSA Investment Summit

Great news: Registration will open soon for the 2015 SelectUSA Investment Summit to be held on March 23-24, 2015. As those who attended last year can attest, the first SelectUSA Investment Summit was a tremendous success, and next year’s will be even bigger and better. While the team at SelectUSA works closely with economic development organizations (EDOs) every day of the year, the 2015 Investment Summit will pull out all the stops and bring investors from around the world to meet with U.S. EDOs under one roof.

When you register for the Summit, you’ll get access to our robust matchmaking system where you can arrange one-on-one meetings with potential investors. You'll learn about the latest trends in foreign direct investment (FDI) and reshoring from high-profile speakers, as well as practical resources to help you more effectively attract investment. You'll also be able to connect with other economic developers, service providers, and government officials who can share tools and information to help you bring more jobs home.

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EDA Projects Highlighted in Americas Competitiveness Report

The Inter-American Competitiveness Network released its 2014 Signs of Competitiveness report to the more than 1,000 business leaders and political figures from 34 countries that participated in the 8th Americas Competitiveness Forum in Port-of-Spain, capital of Trinidad and Tobago last month.  23 EDA projects were highlighted, demonstrating EDA’s crucial role in bolstering not only regional economic competitiveness, but the economic competitiveness of the entire Western Hemisphere.

 

Next Phase of IMCP Announced at Conclusion of Successful Summit

On October 30th and 31st, EDA and our federal partners convened nearly 300 people in Washington, DC, for the Investing in Manufacturing Communities Partnership (IMCP) Summit. Attendees representing IMCP designated communities, applicant communities, federal agencies, and other manufacturing partners came together to share best practices, network, and learn from one another. At the end of the Summit, U.S. Deputy Secretary of Commerce Bruce Andrews announced that EDA will be issuing a Federal Register notice for the second round of IMCP designations.   Stay tuned for more information in the coming weeks about the next round of designations.

 

FACT SHEET: President Obama Announces New Actions to Further Strengthen U.S. Manufacturing

On October 27, President Obama unveiled new executive actions to strengthen U.S. advanced manufacturing, spur innovation, and continue to take steps to make the U.S. a magnet for new jobs and investment.

 

EDA Participates in Global Entrepreneurship Week

Assistant Secretary Jay Williams and Office of Innovation and Entrepreneurship (OIE) Director Julie Lenzer will be participating in events, including a roundtable discussion, at the University City Science Center in Philadelphia, Pennsylvania, and additional events focused on entrepreneurship at the Bucks County Biotechnology Center in Doylestown, Pennsylvania on November 17th to spotlight Global Entrepreneurship Week (Nov 17-23). Keep watch for blogs and other press highlighting EDA’s efforts supporting entrepreneurs during Global Entrepreneurship Week!
 
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