View the archived webcasts here.

• Secretary of Commerce Penny Pritzker's Welcoming Remarks
• Secretary of the Treasury Jack Lew's view of the U.S. and Global Economy
• Plenary: Why Select the USA: Perspectives on Investing and Operating in the United States
• President Barack Obama Keynote Remarks

U.S. Secretary of Commerce Penny Pritzker today launched the inaugural SelectUSA 2013 Investment Summit, telling the more than 1,200 attendees from nearly 60 countries, 47 states, the District of Columbia and three U.S. territories that the United States is open for business. The first-ever event is connecting foreign and domestic investors with local, state and regional economic development organizations to promote investment and job creation in the United States.

“The SelectUSA Summit is all about business. It’s all about connecting investors with communities,” Commerce Secretary Pritzker told the audience. “We want to open that first door to making an investment here in the United States. Clearly, our investment climate is strong. America is open for business.”

For centuries, the U.S. has welcomed investment into the country and the domestic market has provided long-term stability and unmatched returns for investors. Today, the U.S. is the largest recipient of FDI in the world. Last year alone, foreign direct investment was more than $160 billion dollars and the total foreign stock and assets are measured not in billions, but in the trillions of dollars.

Also at the Summit, the Department of Commerce and the President's Council of Economic Advisers released a report outlining the reasons businesses consider the U.S. a top choice for investment,  as well as the economic benefits of foreign direct investment. Significantly, the report points out that the United States is the largest recipient of FDI in the world, with stock of more than $2.6 trillion dollars – including $166 billion that flowed into the country in 2012. The report recommends that the U.S. should continue to "nurture and build upon the underlying strengths of the U.S. economy that make firms want to invest here; including an open investment regime, a large economy, a skilled labor forced, community colleges, world-class research universities, predictable and stable regulatory regime, adequately capacitated infrastructure, and new energy sources." 

Ed. note: This post is part of the Spotlight on Commerce series highlighting members of the Department of Commerce and their contributions to an Economy Built to Last.

Guest blog post by Gabriel Sanchez, Improving Operational Efficiency Program Manager, U.S. Census Bureau

The Improving Operational Efficiency (IOE) program at the U.S. Census Bureau harvests ideas from employees and brings cost saving and efficiency-improving innovation to executive staff for possible investment. The program has invested in 109 projects in the last three years and saved more than $32 million. I am currently revamping the program to streamline and improve metrics, objectives, performance and the harvesting of ideas.

There are several overarching themes within my current responsibilities that relate to the President’s blueprint for America — innovation, efficiency, saving money, avoiding costs, streamlining processes, and creating projects that add strategic value to the organization. By spurring innovation and improving operational efficiency, my program helps government run more efficiently and do more with less.

In my varied career since joining the Department of Commerce in 1998, I have worked in five of the Census Bureau’s12 regional offices as well as the headquarters building in Suitland, Md. My previous position — director of the Dallas Regional Office — was the most challenging, as at the peak of operations during the 2010 Census, it had 111,000 employees in 51 local census offices. I led the enumeration of more than 33 million people while dealing with 45 congressional districts and four of the 10 most populous cities in the country.

I was born in Uruguay and immigrated to the United States at the age of eight. I was raised in New York City, but I have been fortunate to live in various places around the country, which helped ratchet down the big city experience. I was very proud of my heritage when I became the first-ever foreign-born regional director of the Census Bureau. Still, I keep searching for another Uruguayan in the Commerce Department.

One year ago today, Sandy made landfall along the mid-Atlantic coast. The storm devastated communities, families, and businesses. While it’s natural to reflect on the tremendous damage the storm wrought, today also presents us with an opportunity to look toward the future.

Before, during and immediately after the storm, the Department of Commerce provided information and data that helped save lives and property and get commerce flowing again. But our work hasn’t stopped and we continue to help in rebuilding efforts.

From spot-on forecasts delivered four days before the storm’s landfall to economic assistance to working to open ports, Commerce’s National Oceanic and Atmospheric Agency (NOAA) and Economic Development Administration (EDA) have been standing with our federal agency partners to assist affected communities. In the last year, the Obama administration has provided direct assistance to more than 230,000 people and small businesses and has announced more than $39.7 billion in funding for recipients. 

EDA serves as the administration’s lead for economic recovery as part of the National Disaster Recovery Framework, which coordinates key areas of assistance in the wake of natural disasters. Since Sandy struck, EDA has provided targeted technical assistance through peer-to-peer forums to assist the New Jersey tourism industry, government procurement roundtables, “Access to Capital Meetings” to inform business resources of traditional and non-traditional financing mechanisms, and providing risk management resources to small businesses in the region. Ultimately, these initiatives have helped provide small businesses, local leaders, and economic development practitioners learn best practices and empowered them to undertake robust recovery efforts.

Cross-posted from MBDA.gov blog by Alberto Betancourt, Press Secretary

The Hispanic Heritage Foundation held their first Hispanic Business Community Awards celebration Oct. 23 at the Capital One Bank headquarters in McLean, Va. The awards recognized the impact of Latino business leaders on the Greater Washington, DC community.

Alejandra Y. Castillo, MBDA National Deputy Director, was one of five awardees honored at the event. Castillo received the Public Service Leadership award.

“I’m very honored to receive this award,” she said. “I have a rewarding job where every day I come to work and have the unique privilege of honoring my father. He emigrated from the Dominican Republic and started his own business. That’s what inspires me to help minority-owned companies grow their own business.”

U.S. Secretary of Commerce Penny Pritzker also congratulated Castillo on the recognition. MBDA blog

Hey, seafood lovers—did you know it’s National Seafood Month? The United States is a global leader in sustainable seafood, supporting an industry with 1.2 million jobs nationwide and adding $55 billion of value to the nation’s GDP in 2011 (Fisheries Economics of the U.S.). To celebrate, NOAA Fisheries is publishing great seafood stories, including science features, culinary Q&As, and seafood videos and podcasts.

Ensuring that both present and future generations can enjoy the benefits of sustainable seafood is a core responsibility of the Department of Commerce through NOAA Fisheries. From Alaska to Maine, U.S. seafood is responsibly harvested under a strong monitoring, management, and enforcement program that works to keep the marine environment healthy, fish populations thriving, and our seafood industry on the job.

Responsibly harvested seafood starts with sound science, and at the heart of fisheries science is the stock assessment. We break it down for you in this animated video—the ABC’s of stock assessments.

Sound science makes effective management possible. Since 2000, 34 overfished stocks have been rebuilt, including the most recent—the southern stock of black sea bass.

Secretary of Commerce Penny Pritzker, along with U.S. Secretary of Labor Thomas E. Perez, and Delta Regional Authority Federal Co-Chairman Chris Masingill, today announced the 10 winners of the Make it in America Challenge, an Obama administration initiative to accelerate job creation and encourage business investment in the United States. The 10 grantees will receive a total of $20.5 million for projects supporting regional economic development, advanced skills training, greater supply chain access and other enhancements. The programs are designed to encourage U.S. companies to keep, expand or re-shore their manufacturing operations—and jobs—in America, and to entice foreign companies to build facilities and make their products here.

The Commerce Department’s Economic Development Administration (EDA), the Labor Department’sEmployment and Training Administration (ETA), and the Delta Regional Authority (DRA) are providing funding for the winning proposals. Additionally, Commerce’s National Institute of Standards and Technology Manufacturing Extension Partnership (NIST MEP) plans to make awards in early FY2014.

“Given our competitive advantages in energy costs, research and development, labor productivity, and intellectual property protection, there is no better place to do business than the United States," said U.S. Secretary of Commerce Penny Pritzker. The Make it in America Challenge grants support innovative, regionally-based strategies that will encourage businesses to capitalize on those advantages.”  Full release

The International Trade Administration (ITA) for the first time in 30 years has fully implemented its first major organizational change.  The change will better align key functions to support U.S. businesses and their workers more efficiently and effectively. The change reflects ITA’s adaptation to the evolution of global markets, technology, and competition.

ITA’s reorganization consolidates its four business divisions into three more efficient and functionally aligned units.  The new units are Global Markets, Industry and Analysis, and Enforcement and Compliance.

The Global Markets unit combines ITA’s country and regional experts, overseas and domestic field staff, and specific trade promotion programs. The unit, which provides U.S. firms with the full suite of country-specific export promotion services and market access advocacy, also promotes the United States as an investment destination.

The Industry and Analysis (I&A) unit brings together ITA’s industry, trade, and economic experts to advance the competitiveness of U.S. industries through the development and execution of international trade and investment policies and promotion strategies. I&A will leverage ITA’s relationships with manufacturing and services industries to increase U.S. exports.

The Enforcement and Compliance unit enhances ITA’s responsibilities to enforce U.S. trade laws and ensure compliance with trade agreements negotiated on behalf of U.S. industry.