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June 2018

Spotlight: FDI: Facilitating Business Investment in the United States

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FDI in the USA from SelectUSA - Click image for larger version

Foreign Direct Investment (FDI) plays an important role in the U.S. economy by helping to create jobs, increase wealth and living standards, and by helping to stimulate the overall growth and innovation that drives U.S. economic competitiveness. Many communities and regions across the nation have made attracting FDI a key component in building out their economic development strategies and EDA has helped to drive these strategies forward.

The U.S. is the largest recipient of FDI in the world according to SelectUSA, a government-wide program led by the U.S. Department of Commerce designed to promote and facilitate foreign business investment in the U.S. Since its inception, SelectUSA has facilitated US $30.7 billion in investment, creating and/or retaining tens of thousands of U.S. jobs.

Besides the investments the agency makes to support local efforts to attract FDI, EDA is pleased to help inform our stakeholders about the incredible resources available to them through the SelectUSA program. Of note, EDA is today working with SelectUSA today to develop a toolkit that will help communities implement more effective FDI attraction and export promotion practices. Stay tuned for more information on this project.

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Success Story: Italy’s Sofidel Expands U.S. Presence with New Oklahoma Manufacturing Plant

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Sofidel groundbreaking in Inola, Oklahoma

In 2017, Rogers County, Oklahoma secured a $1.5 million EDA investment to help attract Sofidel, an Italian company, into the city of Inola. Today, Sofidel, the second-largest tissue paper manufacturer in Europe, and sixth largest worldwide, has started building its new, integrated paper production plant in Inola, just 30 miles east of Tulsa. The new plant will combine sustainability and technological innovation, housing two tissue technology machines for a total output of 120,000 metric tons a year. The project is expected to create 250 jobs and generate $360 million in private investment.

To help bring this opportunity to the region, a partnership of local governments, the State of Oklahoma, and two EDA designated Economic Development Districts (EDDs) - the Indian Nations Council of Governments and the Grand Gateway Economic Development Association - worked together to develop the industrial site that brought the company and others to the area.

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Highlight: Rutgers Food Innovation Center Encourages FDI in New Jersey

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Rutgers Food Innovation Center

The Rutgers Food Innovation Center and its network throughout the state of New Jersey provide a unique food industry resource that supports both domestic and international companies.

In 2017, EDA invested $2.5 million in the Cumberland County Improvement Authority to help build a new Rutgers Food Innovation commercialization center facility that will support the county’s food production cluster.

The new 30,973 square-foot center will be an asset for expanding companies and will provide space for international companies that are seeking to establish a presence in the U.S. The EDA investment will help to establish food processing space to include site-work, HVAC, fire protection, refrigerator system, and utilities such as water, sewer, natural gas, telephone, and electric.

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REMINDER: Fiscal Year 2018 Disaster Supplemental Funding Available

EDA has available $587 million for disaster recovery grants in communities experiencing economic distress or other economic harm resulting from Hurricanes Harvey, Irma, and Maria and wildfires and other federally declared natural disasters occurring in calendar year 2017. Please visit EDA’s Disaster Supplemental Funding page for more. In addition, the recording and slide deck from EDA’s 5/9/18 Disaster Supplemental NOFO stakeholder webinar are now available.

SelectUSA logo

The SelectUSA Investment Summit is taking place June 20-22, 2018 in the Washington, D.C. area! It is the highest-profile event dedicated to promoting foreign direct investment (FDI) in the United States.


Regional Innovation Strategies Notice of Funding Opportunity Now Available

EDA has published the Fiscal Year 2018 Notice of Funding Opportunity (NOFO) (PDF) for the Regional Innovation Strategies Program. Under this NOFO, EDA is soliciting applications for two separate competitions—the 2018 i6 Challenge and the 2018 Seed Fund Support (SFS) Grant Competition. The RIS Program is managed by the Office of Innovation and Entrepreneurship, and more information can be found on the RIS webpage. Current Closing Date for Applications: August 29, 2018.

EDA has added a series of industry-specific webinars to inform stakeholders on the 2018 RIS NOFO. Sign up here.


University Centers Notice of Funding Opportunity Now Available

EDA has published the Fiscal Year 2018 Notice of Funding Opportunity (NOFO) for the University Center Economic Development Program Competition for EDA’s Austin and Denver Regional Offices. This NOFO makes approximately $7.4 million available for the program ($2.5 million for the first year of awards under this competition).


Research and National Technical Assistance (RNTA) Notice of Funding Opportunity Now Available

EDA has published the Fiscal Year 2018-2020 Notice of Funding Opportunity (NOFO) for Research and National Technical Assistance projects. This NOFO makes $1.5 million available for Research and Evaluation (R&E) projects and $1 million available for National Technical Assistance (NTA) projects. Current Closing Date for Applications: September 30, 2020.


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EDA in the News!

Ground broken on 40-acre industrial/mixed use site in Hunziker Industrial Core
(Portland Tribune, 6/4/18)

‘Sneakerheads’ may soon have 3D-printed options, thanks to student shoe business
(Penn State News 5/31/2018)

Slow Living Summit ready for business
(Brattleboro Reformer, 5/28/2018)

50 years, $55 million in local investments
(The Lewiston Tribute, 5/20/2018)

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