SelectUSA
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| SelectUSA | |
|---|---|
| Name | SelectUSA |
| Formation | 2011 |
| Headquarters | Washington, D.C. |
| Parent organization | United States Department of Commerce |
SelectUSA is a U.S. federal initiative that promotes foreign direct investment into the United States. It operates within the United States Department of Commerce and liaises with state, local, and tribal economic development entities, multinational corporations, and trade organizations. SelectUSA convenes investment summits, provides advisory services, and compiles data on capital projects, aiming to attract job-creating investment from global firms including multinationals from Japan, Germany, United Kingdom, China, and Canada.
Overview
SelectUSA acts as a central point of contact for international investors assessing opportunities in the United States. It engages with stakeholders such as the U.S. Secretary of Commerce, state governors, municipal leaders from cities like New York City, Los Angeles, and Chicago, and regional development agencies including New York State Economic Development entities and Texas Economic Development. The initiative promotes sectors ranging from automotive industry investments by firms like Toyota Motor Corporation and Volkswagen AG to semiconductor industry projects involving companies such as Intel Corporation and TSMC. It aligns with federal statutes including the Invest in America framework and consults with trade partners like the U.S. Chamber of Commerce and Business Roundtable.
History
SelectUSA was established by the Secretary of Commerce in 2011 under authority in the Department of Commerce to coordinate investment promotion across federal agencies, following earlier initiatives by the Office of the U.S. Trade Representative and regional marketing efforts. Its development was influenced by policy debates in the United States Congress and consultations with governors from states such as California, Texas, and Michigan. Over time SelectUSA expanded activities under successive administrations, interfacing with trade missions led by secretaries including Wilbur Ross and Penny Pritzker, and coordinating with interagency partners such as the U.S. Department of State, U.S. Department of Defense, and Small Business Administration. Major milestones include hosting annual investment summits in Washington, D.C. and publishing data on greenfield projects tracked alongside private-sector reports from Ernst & Young and KPMG.
Programs and Services
SelectUSA offers programs that support multinational corporations, private equity firms, and sovereign wealth funds such as Temasek Holdings and SoftBank Group. Services include client-directed matchmaking with state economic development agencies like Massachusetts Office of Business Development and Georgia Department of Economic Development, customized concierge assistance similar to services provided by Enterprise Florida, and a legal and regulatory referral network that liaises with agencies including the Committee on Foreign Investment in the United States and the U.S. Citizenship and Immigration Services. Educational offerings include workshops and webinars on topics covered by institutions like the World Bank, International Monetary Fund, and Organisation for Economic Co-operation and Development. SelectUSA also maintains data portals and publishes investment trend reports comparable to those by UNCTAD and OECD investment papers.
Investment Promotion and Recruitment
SelectUSA conducts outreach to target investors across regions including Europe, Asia, and Latin America, engaging multinational corporations such as Siemens, Samsung, BP, and Nestlé. It organizes the annual SelectUSA Investment Summit in Washington, D.C. alongside delegations from state and local partners, trade associations like the National Association of Manufacturers, and chambers of commerce such as the U.S. Chamber of Commerce and British Chambers of Commerce. Recruitment strategies involve collaboration with development finance institutions like the Export–Import Bank of the United States, sector-specific promotion of technologies from General Motors and Ford Motor Company in advanced manufacturing, and highlighting cluster development in regions with anchor institutions like Massachusetts Institute of Technology, Stanford University, and University of Michigan.
Governance and Funding
SelectUSA is administered within the International Trade Administration of the United States Department of Commerce, reporting to senior officials including the Under Secretary of Commerce for International Trade. Funding derives from federal appropriations authorized by the United States Congress, supplemented by registration fees for events like the Investment Summit and partnerships with organizations such as Export-Import Bank of the United States and philanthropic entities. Governance mechanisms include interagency coordination with the Department of Treasury, Department of Defense, and Office of the United States Trade Representative, oversight by congressional committees such as the United States Senate Committee on Commerce, Science, and Transportation and the United States House Committee on Energy and Commerce, and compliance with federal transparency rules enforced by the Government Accountability Office.
Impact and Criticism
SelectUSA reports job-creation metrics and capital investment wins tracked alongside analyses by consultancies like McKinsey & Company and Deloitte. Success stories often highlight investments by corporations such as BMW, Panasonic, and LG Corporation, and regional development outcomes in states like Ohio and South Carolina. Criticism has come from think tanks such as the Heritage Foundation and Brookings Institution concerning cost-effectiveness, measurement methodologies, and overlaps with state economic development agencies; academic studies from universities including Harvard University and University of California, Berkeley have examined the incremental impact of federal promotion on greenfield investment. Debates persist in forums involving the National Governors Association, labor unions like the AFL–CIO, and industry groups over incentives, security reviews under the Committee on Foreign Investment in the United States, and strategic objectives amid competition with initiatives from China and the European Union.