The U.S. Department of Commerce’s SelectUSA program, established in 2011, has achieved a milestone by facilitating over $200 billion in client-verified foreign direct investment (FDI). This significant accomplishment has played a role in supporting more than 200,000 jobs across the United States and its territories. U.S. Secretary of Commerce Gina Raimondo highlighted the program’s pivotal role in attracting FDI, creating employment opportunities, and contributing to the nation’s economic growth.
In fiscal year 2023, the SelectUSA program facilitated more than $55 billion in client-verified FDI, supporting over 35,000 American jobs. This annual FDI figure represents over a quarter of the total announced FDI facilitated by SelectUSA since its inception. The program’s success in fostering investments extends across critical industries, including rare earths facilities in Texas, lithium-ion batteries manufacturing in Kansas, and pharmaceutical manufacturing in Puerto Rico.
The U.S. has consistently held the top position as the world’s preferred destination for FDI for 11 consecutive years, reinforcing the robustness of the nation’s economy. According to data from the Bureau of Economic Analysis (BEA), FDI is responsible for over 15 million total direct and indirect jobs throughout the U.S.
Housed within the International Trade Administration of the Department of Commerce, the SelectUSA program serves as a central point of contact for investors, coordinating federal government agencies and promoting the critical role of economic development in the U.S. economy. By providing information, facilitating international marketing, and offering high-level advocacy, SelectUSA assists U.S. economic development organizations in competing globally for investment. The program also supports business investors by offering relevant information, connecting them with local resources, navigating federal regulatory processes, and addressing issues related to the federal government.