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President talks U.S. investment with business executives

Tuesday, May 20, 2014 - 01:16

May 20 - President Obama recognizes businesses investing in the United States and speaks out about efforts to encourage others to do the same. Rough Cut (No reporter narration).

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ROUGH CUT (NO REPORTER NARRATION) President Barack Obama gathered executives from several major international companies, including Ford Motor Co and Deutshe Lufthansa AG Tuesday at the White House to discuss an administration initiative to encourage investment in the United States. The White House says the program, SelectUSA, has assisted in winning more than $18 billion in business investments in 17 states and territories. The President said he wanted to point out companies doing a good job investing in the United States while encouraging others to follow suit. "We have made enormous strides over the last several years not just recovering from a Great Recession, but taking advantage of and now marketing the advantages of doing business in the United States -- whether it's low energy costs, an incredibly productive workforce. Obviously, we have the most dynamic and creative and innovative economy in the world, but we don't always do what it takes to go after business around the world and make sure that they know the benefits of investing in the largest market on Earth. And we want to be more systematic about it. We want to make sure that the federal government is working in sync with state and local governments when it comes to locating businesses here in the United States. SelectUSA turned out to be an enormously successful process where we're coordinating between agencies as well as other stakeholders," Obama said. Obama, Commerce Secretary Penny Pritzker and other economic advisers joined the executives in a discussion about their U.S. investments and why they chose to invest and hire in America -- and how to get other companies to do the same. Other companies involved include Swedish telecom supplier Ericsson and Zurich NA, a subsidiary of Switzerland's Zurich Insurance, according to the White House.

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President talks U.S. investment with business executives

Tuesday, May 20, 2014 - 01:16