Research Triangle Region's Charles Hayes Facilitates Technology Panel at SelectUSA Investment Summit
November 1, 2013
First-Ever Conference Highlights Foreign Direct Investment Opportunities
Research Triangle Region, N.C. -- As moderator of a panel discussion on the U.S. technology industry, Charles A. Hayes, president and CEO of Research Triangle Regional Partnership, joined top national business leaders at the first-ever SelectUSA 2013 Investment Summit in Washington, D.C. The two-day event is promoting the United States as a destination for foreign direct investment (FDI).
The conference’s busy opening day included a session entitled “Taking Advantage of the World’s Deepest Technology & Services Market,” which addressed the current state of the nation’s technology industry, its leading “clusters” and the opportunities they present for global companies. The panel featured Parker Harris, co-founder of Salesforce.com, Alfred Spector, vice president of research and special initiatives at Google, Inc., and David Steel, executive vice president of Samsung, NA. The three joined Hayes in sharing perspectives on how policies governing trade, R&D, workforce readiness and other issues are shaping the future competitiveness of the U.S. technology industry.
“The Research Triangle Region’s reputation as a global hot-spot for technology and innovation is clearly being recognized by business and public-policy leaders,” said Hayes on being invited to serve as a SelectUSA Investment Summit panel moderator. The opportunity to participate in such high-profile global events offers the region valuable international exposure to potential investors around the world. “While the return is considerable, promoting ourselves effectively to international audiences is expensive,” Hayes said. “Being a visible part of SelectUSA is the ideal way to put the Research Triangle Region’s brand in front of top global decision-makers.”
The United States is both the world’s largest recipient and source of direct foreign investment. In 2011, U.S. subsidiaries of foreign-owned companies employed 5.6 million American workers, according to the U.S. Bureau of Economic Analysis. They provided $437.8 billion in U.S. payroll that year, with salaries that averaged $77,600. Great Britain, Japan, Germany, Canada and France were the top five sources of FDI into the U.S. economy. But investment from China into the U.S. is growing more rapidly than any single source. Between 2008 and 2012, Chinese FDI here surged nearly 71 percent annually.
Thus far in 2013, 24 international companies have launched plans to invest in new or expanded business operations in the Research Triangle Region. The $410.3 million in foreign investment arriving here this year represents 47 percent of the total industrial investment coming into the region. These announcements included Denmark’s Novo Nordisk (Johnston County), Switzerland’s Syngenta (Durham County) and Novartis (Wake County), and Morinaga America Foods (Orange County), a unit of Japan’s Morinaga & Company.
SelectUSA is an initiative of the U.S. Department of Commerce’s International Trade Administration. It provides counseling, ombudsman services, information and advocacy in support of job creation and economic growth in the U.S. President Barack Obama is hosting the SelectUSA 2013 Investment Summit, being held October 31 – November 1, 2013. The U.S. secretaries of Commerce, State and Treasury are among those speaking. Organizers expected more than 1,200 participants at the event, representing businesses, government agencies and economic development organizations from 59 countries. For additional information, visit http://selectusa.commerce.gov
The Research Triangle Regional Partnership leads economic development for the Research Triangle Region of North Carolina, the area within a 60-mile radius of the Raleigh-Durham International Airport and the Research Triangle Park. The RTRP comprises economic development agencies across the region that work with a wide range of public and private partners to market the region for new investment and direct strategic efforts to ensure the region remains economically competitive. For more information, visit www.researchtriangle.org.
Contact: Lawrence Bivins
Evensong Communications, Ltd.