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The Latest From The Commerce Blog

International Trade Agreements Are Vital to Wisconsin Firm’s Continued Growth

Submitted on March 19, 2015 - 6:29pm
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International Trade Agreements Are Vital to Wisconsin Firm’s Continued Growth

Guest Blog Post by Jim Corkery, President of ACS

Recently I had the opportunity to meet Secretary of Commerce Penny Pritzker and several US Senators and Representatives to talk about global trade. I strongly support the Trade Promotion Authority (TPA) legislation and want to share my views on how ACS has directly benefited from global trade.

We are an organization offering engineering, equipment fabrication and construction management solutions to companies who develop and test engines and vehicles for worldwide distribution. Our office employees are highly skilled college graduates, most with engineering and advanced engineering degrees, and our manufacturing employees have specialized skilled trades expertise.  Although we have fewer than 150 employees, the global nature of business today means we have offices in Wisconsin, Michigan and South Carolina as well as in the UK and China.   Getting the rules of international trade right is not just theory for my company; it will help accelerate our growth.

The first way we benefit from global trade is when our US-based clients develop products for sale globally – we benefit through contracts to design and construct our clients’ R&D/Manufacturing centers here in the U.S.  These opportunities allow ACS to hire more engineering, manufacturing and support employees to accomplish this work. For example, we recently contracted with Cummins to design and build their R&D and Manufacturing test facilities for a new High Horsepower engine to be designed and manufactured in Seymour, Indiana. This facility serves as the global headquarters for the design and manufacture of this new engine with exports forecasted to be 80% of overall sales.

We have also had opportunities to design and construct international R&D/Manufacturing centers for our US-based clients. Typically we provide preliminary design in the US and then travel to the project countries to oversee final design and construction by local designers and contractors. We have designed and built laboratories for Caterpillar in the US, England, Northern Ireland and China, for Whirlpool in the US, Mexico, Poland and China, for John Deere in the US and Mexico, and for Cummins in the US, England, Romania and China.

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SelectUSA Works for Puerto Rico

Submitted on March 19, 2015 - 1:24pm
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Alejandro J. García-Padilla, Governor of the Commonwealth of Puerto Rico

Guest blog post by Alejandro J. García-Padilla, Governor of the Commonwealth of Puerto Rico

Almost a year after we announced that Lufthansa Technik would establish an aircraft maintenance, repair and overhaul (MRO) facility in Puerto Rico, we are getting ready to celebrate the 2015 SelectUSA Investment Summit.

With an estimated economic impact of $2.2 billion over a 30-year period, Lufthansa Technik’s decision to establish an MRO site in Puerto Rico is a major strategic advancement for the Commonwealth’s economic development plan. The facility is well under construction and has secured JetBlue and Spirit Airlines as customers. The MRO is expected to begin servicing customers later this year.

Since I took office in January 2013, I have sought to diversify Puerto Rico’s economy by attracting foreign direct investment like Lufthansa Technik, a leading manufacturer and independent provider of technical services for the aviation industry.

And make no mistake, investing in Puerto Rico is investing in the United States. That is why, with the help of the Commerce Department’s Select USA program, we sought out Lufthansa Technik to create jobs that capitalize on the highly skilled workforce that our Island’s university system trains.

The MRO facility is helping to grow Puerto Rico’s aerospace and aviation industry, create high-skilled jobs, and stimulate science, technology, engineering and math (STEM) education. By 2016, up to 400 highly skilled workers will be employed there. Puerto Rico now has the infrastructure to train new aircraft mechanics, with the brand new Aerospace and Aviation Institute of Puerto Rico under development.

This deal was just the beginning of an exciting partnership between Puerto Rico and SelectUSA.  The Lufthansa Technik site is causing a positive ripple effect in the economy, spurring the growth of MRO suppliers.

I also recently announced that business technology consulting firm Infosys BPO will open a new center in Puerto Rico to serve the Island’s growing aviation sector. This investment is another example of foreign direct investment brought on by the ripple effects of the Lufthansa MRO. Infosys will utilize this new center to deliver complex order-to-cash business processes for clients in the aviation industry and create over 200 jobs. The company is looking to further expand its footprint in the region to service clients in the federal government sector and the healthcare industry.

I commend the work of President Obama’s Administration, which was instrumental in bringing Lufthansa Technik to the United States and creating hundreds of well paid jobs in Puerto Rico. I also express my deep gratitude to Vice President Biden, Secretary Pritzker and the SelectUSA Program for making these investments a reality.

The investment from Lufthansa Technik and its impact in the economy are proof that SelectUSA works. We look forward to a long partnership with SelectUSA.  

SelectUSA 2015 Investment Summit Highlighting United States As Premier Investment Destination

Submitted on March 19, 2015 - 10:07am
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There is no time like the present to invest in the United States. In fact, the U.S. is rated #1 in the latest A.T. Kearney Foreign Direct Investment Confidence Index for the second year in a row, with the highest net positive rating in the index’s 16-year history. 

With an incredibly attractive consumer market, a thriving culture of innovation, and the most productive workforce, the U.S. has shown itself to be an economic powerhouse. Companies of all sizes – big or small, startup or multinational– can benefit from the ideas, resources, and markets the U.S. offers in order to become a globally competitive nation. Because of these reasons, the U.S. proudly welcomes international investment. 

When deciding to invest in the U.S., firms can look at five factors: 

  1. Market: The U.S. is home to the most attractive consumer market and serves as a competitive export hub to the rest of the world. Free trade agreements with 20 nations give U.S.-based exporters better access to markets with more potential consumers.
  2. Economic Growth: During 2013 to 2014, Real GDP grew at a 2.8 percent annual pace. The private sector successfully expands with the longest streak on record for job growth.
  3. Business-Friendly Environment: The U.S. offers a transparent, fair and stable business environment and thriving capital markets to support developing companies.
  4. Innovation: As a world leader in research and development (R&D) and intellectual property protection, the U.S. provides a productive environment for innovation. Firms can improve their competitiveness by associating with research institutions and employing leading-edge manufacturing techniques.
  5. Resources: There is a manufacturing renaissance occurring due to the diversified resources, low cost energy and a well-educated workforce. 

These compelling factors and more will be on display at the 2015 SelectUSA Summit next week.   The two-day Summit, March 23-24, is the premier event for those considering an investment. The event will feature nearly 600 representatives from nearly every state and territory, providing ample opportunity for investors to find the information needed to make investment decisions and connect with the right people at the domestic level. Many states, territories, cities, and regions are also hosting booths in the Summit exhibition hall to connect directly with investors.

All year round, SelectUSA coordinates federal agencies to address investor concerns relating to federal regulations. This year, representatives from 20 federal agencies will be on-site at a U.S. Government Pavilion in the Summit exhibition hall to meet face to face with investors, as well as state and local representatives. 

The Summit is at capacity with more than 2,600 people registered from more than 70 markets, doubling the size of the inaugural event in 2013. President Barack Obama will give the keynote address on the first day.  Other Administration officials delivering remarks include Commerce Secretary Penny Pritzker, Secretary of State John Kerry, Secretary of the Treasury Jacob J. Lew, Secretary of Agriculture Thomas Vilsack, Secretary of Labor Thomas Perez and Secretary of Transportation Anthony Foxx. Some of the world's top CEOs will be there to discuss the advantages of investing in America and the jobs it creates. Among the executives speaking at the event will be Eric Schmidt, Executive Chairman of Google, and David Rubenstein, Co-Founder and Co-CEO of the Carlyle Group, the world’s largest equity firm.

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