U.S. Remains Top Destination for Foreign Business Investment for 10th Consecutive Year

WASHINGTONThe United States has been ranked as the top destination for foreign direct investment for the tenth consecutive year according to Kearney’s Global Business Policy Council’s 2022 Foreign Direct Investment (FDI) Confidence Index.

The annual survey of global senior executives and investors found that the Unites States retained its position for a decade due to the innovation of the U.S. economy as the key indicator to driving growth through FDI long term.

Foreign investors look for established innovative markets that are financially strong and safe while also having strong governance and infrastructure. The ranking is testament to the attractiveness of the United States to foreign companies despite the challenges posed by the COVID-19 pandemic. 

“This ranking is cause for celebration and it reflects what so many in the global business community already know: the United States is unmatched not only in its economic power, but also in its appeal for businesses development through a strong culture of innovation and employment of a world-class productive workforce,” said Secretary Gina M. Raimondo. “The Department of Commerce is committed to creating the conditions for economic growth and opportunity for all Americans, including through foreign direct investment which creates jobs and contributes to economic development across the United States.”

“The United States retains the top position on Kearney’s 2022 FDI Confidence Index for the tenth consecutive year,” said Paul Laudicina, founder of the FDI Confidence Index. “Our findings suggest we are likely to see a continued shift in FDI to developed markets, with the U.S. being chief among them. Investors seek to capitalize on destinations marked by regulatory transparency and stability on the one hand and technological innovation on the other. Robust U.S. economic performance and bi-partisan action on the U.S. infrastructure initiative also obviously have helped restore confidence in the country’s longer term investment attractiveness, even as global geopolitical challenges persist.”

The United States rank in the FDI Confidence Index is supported by the work of the Department’s SelectUSA program that focuses on facilitating job-creating business investment into the United States and raises awareness of the critical role that economic development plays in the U.S. economy. Since its inception, SelectUSA has facilitated more than $105 billion in investment, creating and/or retaining over 138,000 U.S. jobs.  

As part of the national effort to attract foreign direct investment, Secretary Raimondo will host the 2022 SelectUSA Investment Summit June 26-29 at the Gaylord National Resort & Convention Center in National Harbor, Maryland. The annual investment summit is the highest-profile event in the United States dedicated to promoting foreign direct investment and provides prospects for investors from global markets and economic development organizations across the nation to interact and create investment opportunities.

U.S. Commerce Department Releases Strategic Plan to Boost America’s Competitiveness

WASHINGTON – Today the Department of Commerce released its fiscal year 2022-2026 Strategic Plan laying out an agenda for innovation, resilience and equity to strengthen America’s competitiveness in the 21st century.  Along with the strategic plan, the Department also published the first-ever learning agenda, through which all bureaus will build rigorous evidence on program outcomes. 

“Everything we do at the Department is focused on increasing America’s competitiveness in the global economy.  With this plan, we are positioning America’s workers and businesses for success in the 21st century.  And all Americans, especially those that have been historically excluded, will share in our prosperity,” said Commerce Secretary Gina Raimondo. 

The Department has revised its mission statement to underscore the connection between our programs and all Americans. As of today, the Department’s mission is to create the conditions for economic growth and opportunity for all communities.

The Department’s strategic plan has five goals: 

  • Drive American innovation and global competitiveness. By investing in resilient supply chains, advancing emerging and critical technologies, and engaging in strategic partnerships with allies, we will expand opportunities for American innovators, workers, and businesses. At the same time, improve cybersecurity, promote intellectual property rights, and vigorously enforce our trade rules.
  • Foster inclusive capitalism and equitable economic growth. By creating an economy that works for all Americans, we will translate short-term growth into long-term prosperity. Once in-a-generation investments in broadband and economic development will empower entrepreneurs in all regions of the country. Smart workforce development will align workers’ skills with industry needs and provide wraparound support so job seekers can successfully complete their training.
  • Address climate crisis through mitigation, adaptation, and resilience efforts. By accelerating cutting-edge clean technologies advancing our collection and dissemination of climate data and investing in restoration and preparation, we will combat climate change, protect the ocean, and lead the world toward a clean energy future while creating millions of good-paying jobs. 
  • Expand opportunity and discovery through data. By leveraging our world-class scientific and statistical tools, we will establish a level playing field for American workers and businesses in the global economy. 
  • Provide 21st century service with 21st century capabilities. By deploying smart technology and modernizing our systems for hiring and procurement, we will ensure that across the Commerce Department’s 13 bureaus are focused on achieving results for the American people and American businesses.

The creation of the strategic plan was a collaborative effort involving staff from every Department of Commerce bureau and serves as a foundation for equitable economic growth and opportunity. The plan is in direct alignment with the President’s FY 23 budget request which reflects the Department’s role to drive U.S. competitiveness at home and abroad, and the Administration’s focus on economic growth and job creation. Department leaders and employees will use this plan to transform strategies into actions, and actions into results for all communities.