I am excited to announce that President Obama will deliver the keynote address on the first day of the 2016 SelectUSA Investment Summit on Monday, June 20, here in Washington, D.C.
The President’s participation underscores our Administration’s deep commitment to bringing new job-creating investment to the United States. An estimated 12 million American jobs are attributable to foreign direct investment (FDI), which also supports long-term economic growth by driving exports and sparking innovation. The U.S. affiliates of international companies were responsible for one fifth of all U.S. goods exports ($360 billion) and spent $53 billion on American research and development (R&D) in 2013 alone.
This year’s Summit theme is “The Innovation Advantage” because companies of all sizes can benefit from the environment for innovation in the United States. Noting the U.S. position as the world’s largest and most innovative economy, President Obama said at last year’s Summit, “[The United States] is home not only to more R&D investment than any other country but to nearly one third of all R&D investment in the world. Our commitment to the rule of law and strong intellectual property protections make America a dependable place to innovate and do business.”
The SelectUSA Investment Summit brings companies that are considering establishing or expanding operations together with economic developers from across the country to learn how the U.S. climate for innovation—as well as the other advantages offered by the United States—can support their global competitiveness. Speakers from both the public and private sectors will share insights and real-world examples highlighting successful investments and the diversity of resources across the United States. In addition to President Obama, business leaders representing companies such as Xerox, Indiegogo, ABB Group, L’Oréal, Rassini, IKEA, Wanxiang, TOTO, and others will discuss the advantages of investing in the United States.