RAEDC attends SelectUSA Investment Summit that promotes foreign direct investment

The Rockford Area Economic Development Council’s Carrie Zethmayr is attending the SelectUSA Investment Summit March 23-24 in the Washington, D.C., area as part of a regional effort to market Illinois.

President Obama gave keynote remarks at the event; watch the president’s video here.

According to Bloomberg, Obama touted the idea of investing in U.S. projects to 1,200 investors and executives at the U.S. Department of Commerce event in National Harbor, Md., saying our workforce and economic growth outpace the rest of the world.

“The American people like doing business and they respect business, and they’re looking forward to working with you,” Obama was quoted as saying.

According to the Commerce Department: Foreign direct investment (FDI) plays a critical role in the U.S. economy, which is why Obama launched SelectUSA, the first-ever U.S. government-wide initiative to promote and facilitate investment in the United States. Through 2014, SelectUSA helped generate more than $20 billion of investments, creating jobs and spurring economic growth. In 2014, 5.8 million people in the United States were employed by U.S. subsidiaries of foreign firms.

See the event’s agenda here.