NAM Comments on Administration's New SelectUSA Initiative - aftermarketNews

NAM Comments on Administration’s New SelectUSA Initiative

At a time when competition for business investment is more intense than ever, the U.S. is the only developed economy in the world without a national-level investment program and advocacy program, according to U.S. Secretary of Commerce Gary Locke.

WASHINGTON, D.C. — Last week, U.S. Secretary of Commerce Gary Locke announced a new initiative called SelectUSA, the first-ever government-wide program to aggressively pursue and win new business investment in the United States by both domestic and foreign companies.

More than 5 million Americans are directly employed by foreign companies in the U.S., according to Locke, but at a time when competition for business investment is more intense than ever, the U.S. is the only developed economy in the world without a national-level investment program and advocacy program, he said.

“In recent years we have been losing ground in attracting and retaining business investment to better coordinated foreign competitors,” Locke said. “SelectUSA, established by Executive Order of the President, will leverage existing resources of the federal government to ramp up promotion of the U.S. as a prime investment destination to create jobs at home and to keep jobs from going overseas. We will be working with governors, mayors and legislative leaders around the country who are trying to attract business investment. We will also be a troubleshooter for those dealing with red tape and federal hurdles to bringing or keeping business operations and investment in their communities. Too often, businesses and local governments have difficulty navigating federal agencies in pursuit of permits, tax information and directives on regulatory compliance, delaying new investment. We know that, because we’ve heard directly from businesses about it. SelectUSA will help turn this around.”

The program will be coordinated by the U.S. Commerce Department and will target three types of firms: foreign firms looking to expand, domestic firms looking to expand and foreign and domestic firms looking to reorganize or return their operations to the United States. Locke emphasized that the program will not advocate one state over another.

“We just want new business investment and the jobs that come with it,” he wrote in a blog announcement about the new program.

The National Association of Manufacturers (NAM) Vice President for International Economic Affairs Frank Vargo issued a statement on Commerce Secretary Locke’s announcement of the creation of the SelectUSA program.

“Ensuring the United States is the best country in the world to headquarter a company or to attract direct foreign investment is one of the main goals of our manufacturing strategy. Manufacturers believe that the SelectUSA program will be a useful tool to encourage more foreign and domestic companies to invest in our country.

“Encouraging additional foreign and domestic investment will help boost the economic recovery, lead to better innovation and create quality manufacturing jobs for American workers. While the SelectUSA program is a good start to reducing obstacles for businesses, more still needs to be done to ease the regulatory burden on large and small manufacturers, which dampens job growth.

We look forward to working with the Administration to ensure SelectUSA is as effective as possible for manufacturers and in addition to policies which will improve manufacturers’ global competitiveness.”

You May Also Like

Auto Care Association Welcomes GAO Report on Vehicle Repair Restrictions

Auto Care is renewing its call for Congress to advance federal Right to Repair legislation that protects independent business owners and consumers.

Right to repair 2

Following the release of a new Government Accountability Office (GAO) report detailing how automaker restrictions on vehicle data are creating barriers to repair vehicles, the Auto Care Association is renewing its call for Congress to advance federal right to repair legislation that protects independent business owners and consumers.

Bendix Releases Technical Materials for ADAS Support

They are designed to help technicians properly set up, inspect and diagnose several components integrated with ADAS.

Bendix Releases New Technical Materials Supporting ADAS and Connected Components
Dana Participating in Easter Jeep Safari

The event will take place in Moab, Utah, March 23-31.

Dana to Participate in Easter Jeep Safari 2024
ZF Aftermarket Releases 80 New Parts

The latest additions expand coverage to more than 5 million vehicles in operation.

ZF Aftermarket Releases 80 New Parts
Schaeffler Highlights ESG Progress in 2023 Sustainability Report

Schaeffler is currently focusing on seven key ESG goals in the implementation of its sustainability strategy.

Schaeffler 2023 Sustainability Report

Other Posts

MEMA Applauds the EPA on Light- and Medium-Duty Vehicle Emission Standards

MEMA says the EPA final rule includes an amended and more comprehensive analysis of technological alternatives.

Opposition Grows for California’s Mandate Banning New Gas-Powered Vehicle Sales
CMA, DoubleCoin to Showcase Long-Haul Steer Tires at MATS

Company reps will be on-site to answer questions, schedule meetings and coordinate a raffle of outdoor sporting equipment in booth #11140.

tire-distribution-outlook-tire-rack
GB Reman to Host Jackpot Giveaway Winner at Long Beach Grand Prix

Jon Hetzel, owner of Hesski ServiCenter in Levittown, Pennsylvania, will join GB Reman in the company’s hometown next month

GB Reman to Host Jackpot Giveaway Winner at Grand Prix of Long Beach
Bendix Surpasses Worker Safety Goals

Bendix says its Total Case Improvement Rate improved since 2022.

Bendix Announces Worker Safety Statistics