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The Latest From The Commerce Blog

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.

MBDA Expands Economic Footprint of Minority Businesses—Strengthening the Economy

Submitted on March 18, 2015 - 4:26pm
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Guest blog post by Carmen West, MBDA Business Development Specialist

For over 45 years MBDA has been working aggressively to expand the economic footprint of minority business enterprises, also known as MBEs.  According to the U.S. Census Bureau’s 2007 Survey of Business Owners, these MBE firms contributed $1 trillion in total economic output and employed nearly six million Americans. These findings highlight that the economic contribution of these firms has a significant impact on the national economy.

MBDA helps firms to realize their full economic potential through technical assistance, public and private contracting opportunities, advocacy, research and education, and by serving as a strategic partner for growth and development. MBDA is the only Federal agency solely dedicated to the growth and global competitiveness of our nation's 5.8 million minority businesses.

Since 2009, MBDA has assisted clients in accessing nearly $26 billion in contracts and capital, while helping them create and retain more than 60,000 jobs.  The bulk of this work is accomplished through our nationwide network of MBDA Business Centers.  Each center provides businesses with services to assist them in accessing capital, contracts, and new markets, as well as helping them to grow in size and scale.

Access to Capital

In 2014 MBDA created a new access to capital team to introduce our clients to alternative capital sources.  This work has been two-fold:  to educate clients and firms about the types of alternative financing available and to advocate on their behalf with the kind of resource partners that minority owned firms lack access to: venture capitalists, angel investors, mergers and acquisitions firms, and internet based platforms. 

Increasing Exporting

U.S. Secretary of Commerce Penny Pritzker recently issued a report showing that U.S. goods and services exports supported more than 11.7 million jobs in 2014 - a new record. The new data showed that exports strengthen our economy and create good jobs, paying up to 18 percent more than non-export related positions.  In partnership with Ex-Im Bank nine MBDA Business Centers became loan originators for Global Credit Express offering short-term working capital loans to small business exporters.  Our work with exporting initiatives like Look South and Doing Business in Africa, has resulted in an increase in client requests for assistance with exporting, which showcases another way MBEs are helping to strengthen the U.S. economy.

To learn more about how MBDA works with U.S. companies in creating economic growth and recovery, visit www.mbda.gov.

Reinvesting in America’s Supply Chain Innovation

Submitted on March 18, 2015 - 2:51pm
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Reinvesting in America’s Supply Chain Innovation

Guest blog post by Sue Helper, U.S. Department of Commerce, Chief Economist

It’s springtime, and during this season of growth and renewal another important renaissance is underway: a remarkable resurgence in American manufacturing.  Powering this growth are the small- and medium-sized businesses that comprise the U.S. manufacturing supply chain. 

President Obama in his State of the Union address earlier this year committed to supporting these small businesses.  This week, in Cleveland, OH, he made good on that promise, announcing a series of key manufacturing initiatives.  Additionally, a new White House-Department of Commerce report was released that examines the importance of reinvesting in America’s supply chain to enable innovation.  The report, “Supply Chain Innovation: Strengthening America’s Small Manufacturers,” identifies potential barriers as well as solutions – laying the path toward sustained manufacturing growth and strength, at home and abroad, now and into the future.

As described in our report, the resurgence in manufacturing has seen the addition of 877,000 jobs added since February 2010. Small firms play an increasingly important role in U.S. manufacturing, and now account for almost half of America’s manufacturing employment. Dense networks of these small manufacturers are vital to the process of taking a product from concept to market, and sharing manufacturing expertise along the supply chain is essential for the diffusion of the new products and innovative processes that give U.S. manufacturing its cutting edge. 

However, these small firms face barriers to innovation, a key element in strengthening U.S. competitiveness. While firms with fewer than 500 employees comprise 98 percent of all manufacturing firms, together they account for less than one-third of private-sector research and development (R&D) spending in manufacturing.  And because of these barriers to innovation, in their operations, small manufacturers are less than 60 percent as productive as their larger peers. Moreover, lack of innovative capability impacts small suppliers’ customers: the quality of end products is compromised and it takes longer for innovative technologies to get to market.

Customer firms have a critical role to play in cultivating the capabilities of small firms in their supply chains and encouraging fruitful cross-pollination of expertise across firms.  However, larger firms often under-invest in their suppliers because they fear improvements they pay for may end up benefitting their competitors, and because of conflicting internal goals.

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