U.S. Commerce Department Announces $200 Billion Milestone in Foreign Direct Investment
Business
Commerce’s SelectUSA program promotes foreign direct investment that supports hundreds of thousands of good-paying jobs in critical sectors across the United States.
This announcement follows a strong year for the SelectUSA program, which facilitated more than $55 billion in client-verified FDI, supporting more than 35,000 American jobs in fiscal year 2023.
This FDI figure represents more than a quarter of the total announced FDI facilitated by SelectUSA since its inception in 2011. SelectUSA-supported investments span critical industries ranging from rare earths facilities in Texas to lithium-ion batteries manufacturing in Kansas to pharmaceutical manufacturing in Puerto Rico.
For 11 years consecutively, the United States has ranked as the world’s top destination for FDI, reflecting the continued strength of the U.S. economy. According to the latest data from the Bureau of Economic Analysis (BEA), FDI is responsible for over 15 million total direct and indirect jobs in across the United States.