Spain is slightly larger than California, but slightly smaller than Texas. Although petite in comparison with the United States, Spain’s investment in its transatlantic ally is impressive:
$74.7 billion in FDI
These statistics from the U.S. Department of Commerce were presented this past Wednesday, April 3, at an Extraordinary Commission for International Relations between Spain and the United States organized by the United Sates Department of State, in collaboration with CEOE, the Spanish Confederation of Business Organizations. The Commission was organized to promote the 2019 SelectUSA Investment Summit, which will be held from June 10-12 in Washington, D.C.
Ricardo Pelaez, the Deputy Senior Commercial Officer at the U.S. Embassy, showcased the United States’ economy: 700 million people worldwide have access to the American market; the U.S. represents 42% of global consumption; and it boasts a highly-qualified workforce.
Spanish companies are obviously seeing the value of investing in the U.S.: in a period of just five years, Spanish FDI rose almost $20 million.
Where does SelectUSA come into play?
SelectUSA is a government program which directly assists international companies looking to make the move to the American market, offering information, connections, and ombudsman services to foreign companies at any stage in the internationalization process. They also help U.S. Economic Development Offices attract and compete for foreign investment.
This year’s Investment Summit is directed at international companies who are looking to enter the U.S., as well as companies who are already set up and looking to expand. The Summit will include four types of activities: matchmaking, informative sessions, networking (including a fair with representatives from all 50 states), and Spinoff Events – trade missions in various states which will take place following the finalization of the Summit. This year, SelectUSA is also introducing SelectUSA Tech, a new program designed exclusively for start-ups, including Spinoff Events organized by sector.
If it is anything like last year’s summit, it’s going to be big: the 2018 SelectUSA Investment Summit attracted more than 1,000 international participants from 66 markets, as well as more than 300 U.S. government officials, and economic developers from 51 U.S. states and territories. The Summit was the forum for the announcement of investment projects worth over $600 million.
In other words, if you’re looking to invest in the U.S., it’s the place to be.
Looking to make the move to a new market? Gedeth can help you get there. With over 15 years of experience helping businesses in their process of international expansion and an international network spanning 5 continents, we know a thing or two about going global. Contact us at firstname.lastname@example.org.
Want more information about the Summit? Write to SelectUSA@experient-inc.com.
Totally convinced? You can apply to participate in the Summit here.