A top goal of the NAM’s Growth Agenda is for the United States to be the best place in the world to manufacture and attract foreign direct investment (FDI). To that end, earlier this week, the NAM hosted nearly 50 Italian manufacturers who were visiting the United States to learn more about U.S. high-tech manufacturing and develop a better understanding of potential investment opportunities, suppliers, partners and customers. The delegation of information and computer technology, aerospace and biomedical companies was led by Confindustria, an Italian trade association.
From October 31 to November 1, the SelectUSA 2013 Investment Summit, sponsored by the U.S. International Trade Administration, hosted 1,200 participants from 58 countries and 47 states to encourage FDI in the United States. The summit in Washington, D.C., highlighted the benefits of investing in the United States and linked business leaders with global investors, state and local representatives and high-level government officials. Several members of the NAM’s State Associations Group participated to help showcase their state as a prime destination for foreign investment.
Foreign investment in the United States is good news for manufacturing. According to a report released by the White House last week, about one-third of the jobs created by FDI are in manufacturing—employing nearly 2 million people. The United States has received $1.5 trillion in FDI since 2006. Foreign-headquartered manufacturing companies make important investments in research and development, provide good-paying jobs and help grow the U.S. economy.