Establishment of the SelectUSA Initiative
Jun 20, 2011
Signed by: Barack Obama
Signed on: Jun 15, 2011
Published on: Jun 20, 2011
Jun 20, 2011
Signed by: Barack Obama
Signed on: Jun 15, 2011
Published on: Jun 20, 2011
Summary
Establishes the SelectUSA Initiative to help bring more business investment to the United States, which helps create jobs and grow the economy.
What problem does this solve?
The U.S. government did not have a single group focused on attracting business investment, making it hard to compete with other countries. This order creates the SelectUSA Initiative to promote the U.S. as the best place for businesses to invest and grow.
What does this order do?
Establishes the SelectUSA Initiative
Creates a new government-wide program housed in the Department of Commerce to attract and retain business investment in the United States.
Creates a federal working group for investment
Forms the Federal Interagency Investment Working Group, bringing together senior officials from many government departments to coordinate efforts to promote business investment.
Defines the initiative's main jobs
Tasks the initiative with promoting the U.S. as a top business location, helping resolve issues for investors, and providing information on federal programs and incentives.
Appoints an executive director
Requires the Secretary of Commerce to name a senior staff member as the Executive Director to lead the initiative and coordinate its activities.
Requires regular reporting to the President
Mandates that the initiative report every three months to the President on its activities, requests for help, and efforts to solve investment-related problems.
Who does this affect?
- Domestic and foreign businesses
- State and local economic development organizations
- Federal agencies
What is the real world impact?
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Strengthens U.S. economic competitiveness
Creates a coordinated federal effort to attract and keep business investment from both domestic and foreign companies, aiming to create more jobs and boost economic growth in a competitive global market.
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Centralizes investment promotion efforts
Establishes a single point of contact within the federal government for businesses looking to invest, streamlining a process that was previously handled separately by various states, cities, and agencies.
When does this start?
This executive order became effective when it was signed on June 15, 2011.