It is an honor to join you virtually for this 2023 SelectUSA spinoff event in Brownsville, Texas.
Thank you to our hosts the Greater Brownsville Incentives Corporation for organizing this successful event that showcases opportunities in the aerospace, defense, automotive and energy sectors.
My name is Jasjit Singh and I’m the executive director of SelectUSA. For those of you who may not be familiar with our office, SelectUSA is the federal government program housed within the US Department of Commerce charged to promote and facilitate business investment into the United States.
Since our inception, SelectUSA has facilitated more than $146 billion in client verified investment projects, supporting more than 166,000 US jobs. In Fiscal Year 2022, SelectUSA brought in nearly $40 million in client verified investments, supporting over 34,000 US jobs.
For the companies here today, you are in the right place. The United States drives success globally through innovation and diversity. From startups to multinational corporations, companies of all sizes have the resources to succeed in the global market when they invest in the United States.
We offer the largest consumer market on earth with a GDP of over $25 trillion and 330 million people. Household spending is the highest in the world, accounting for nearly a third of global household consumption.
The United States is the best place to take advantage of opportunities in the global market. US based businesses are connected with over 20 countries through free trade agreements, providing enhanced access to 475 million consumers.
I hope to have the opportunity to meet you in person next week, May 1st thru the 4th time at the 2023 SelectUSA Investment Summit at the Gaylord National Resort and Convention Center just outside Washington DC.
The 2023 Investment Summit is welcoming over 3,000 participants, including government leaders, international business investors and industry experts from more than 70 countries. Economic development organizations from every corner of the nation will be there and influential media outlets as well.
At the Investment Summit companies will find valuable information and unbiased data on a wide range of topics and will have opportunities to learn about historic legislation implemented by the Biden Administration.
Specifically, the Bipartisan Infrastructure Investment and Jobs Act (IIJA) is President Biden’s historic, once in a generation, investment in our nation’s infrastructure and competitiveness.
The CHIPS Act which we will strengthen America’s manufacturing supply chain and national security research and development abilities, science and technology and prepare for the workforce of tomorrow to lead America.
And, lastly, the Inflation Reduction Act, which is the most significant action Congress has taken on clean energy and climate change in our nation’s history.
These investments underscore that America is open and ready for business. We believe that our country and our world are safer, more resilient, and more prosperous because of the investments of foreign owned companies in the United States. Our goal is to lay a foundation for all businesses in America to do what we do best: innovate, scale and compete globally.
In closing, I’d like to emphasize that USA and our colleagues at the US Commercial Services in San Antonio, Texas, led by Michael Rosales, are here to assist your companies in finding their next investment location in the US and supporting you throughout your investment journey.
I’d like to thank the Greater Brownsville Incentives Corporation for organizing this fantastic event featuring unique investment opportunities in the automotive, energy and aerospace and defense sectors. And I wish you a very successful event. My team at SelectUSA look forward to welcoming you next week at National Harbor for the 2023 SelectUSA Investment Summit.
Editor’s Note: The above commentary was provided via video by Jasjit Singh, executive director of SelectUSA, at a 2023 Select USA Investment Summit spinoff event held at the Brownsville Museum of Fine Arts on April 27, 2023. The event was hosted by the Greater Brownsville Incentives Corporation. SelectUSA is a U.S. government-wide program that works to attract foreign direct investment to the United States. In this role, Singh leads the strategy and implementation of SelectUSA’s mission to create jobs, spur economic growth, and promote American competitiveness. He also oversees the SelectUSA Investment Summit, an annual event where U.S. officials make the case to global companies that the United States remains the top destination to do business.
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