The SelectUSA Summit is one of the highest-profile events in the U.S. dedicated to the promotion of foreign direct investment (FDI). This signature event was started in 2014 and the most recent Summit was hosted on June 19 – June 21, 2016 in Washington D.C. – attracting more than 2,000 participants from over 70 countries. Global companies and economic development professionals from all corners of the U.S. attended SelectUSA in order to facilitate matchmaking and business investment. In an effort to showcase Pennsylvania’s assets, a coalition of economic developers from across the state joined DCED and Team PA to promote the Commonwealth as the premier FDI destination.
This year’s Summit theme focused on “The Innovation Advantage” and showcased investment opportunities from across the United States for global investors. President Barack Obama welcomed guests during his Keynote Address, as well as highlighted the investment and innovation prospects in the U.S.:
“But the truth is, it’s easy to make the case, and it’s one each of the economic development organizations represented here can make just as well, because behind it are the most talented and most innovative workers in the world: American workers.” – President Barack Obama
Secretary of State John Kerry, along with several other notable business and government leaders, spent time at the conference meeting with key partners and discussing the growth landscape for FDI in the U.S. market.
The Pennsylvania team saw much success in promoting FDI opportunities in Pennsylvania, as they met with over 100 unique business contacts, coordinated one-on-one investment and retention visits, and met with partners from industry associations and U.S. Embassies abroad to discuss opportunities for collaboration and the promotion of PA. Partners who exhibited and met with investment prospects include:
- CORE PA
- East Stroudsburg University Center for Research & Economic Development
- Lehigh Valley Economic Development Corporation
- Pennsylvania Office of International Business Development
- Pittsburgh Regional Alliance
- Select Greater Philadelphia
- Warren County Commissioner, Benjamin Kafferlin
Currently, the team is working to provide market information and coordinate in-bound visits for several potential investment projects. In light of their success at this year’s Summit, Pennsylvania has already committed to attending SelectUSA 2017 and will work strategically with partners to coordinate another successful exhibition.
*Photo used with permission of the Department of Community & Economic Development