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Promoting Foreign Direct Investment David McNeill Senior Commercial Officer Commercial Service Athens U.S. Embassy

Promoting Foreign Direct Investment David McNeill Senior Commercial Officer Commercial Service Athens U.S. Embassy. Greek FDI in the U.S. . FDI and the U.S. Economy. 5.3 million $49 billion $85 billion $228 billion $449 billion 25 percent 18 percent.

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Promoting Foreign Direct Investment David McNeill Senior Commercial Officer Commercial Service Athens U.S. Embassy

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  1. Promoting Foreign Direct Investment David McNeillSenior Commercial Officer Commercial Service Athens U.S. Embassy

  2. Greek FDI in the U.S.

  3. FDI and the U.S. Economy 5.3 million $49 billion $85 billion $228 billion $449 billion 25 percent 18 percent Workers Employed by U.S. Affiliates of Foreign Firms in the U.S. in 2009 Amount U.S. Affiliates of Foreign Firms spent on R&D in the U.S. in 2009 Amount U.S. Affiliates of Foreign Firms Reinvested into the U.S. Economy in 2010 Size of FDI Flows into the U.S. in 2010 Amount of Wages Paid to Employees of U.S. Affiliates of Foreign Firms in 2009 U.S. Affiliates of Foreign Firms Pay on Average 25 percent Higher Wages and Salaries than U.S. Establishments U.S. Affiliates of Foreign Firms Generate 18 percent of all U.S. Exports as of 2008

  4. U.S. FDI Trends Top 10 FDI Stock Positions, 2010 21% | $497.5b 11% | $257.2b 9% | $209b 10% | $238.2b 11% | $263.2b 5% | $118b 3% | $61.6b 3% | $61.5b 2% | $52.2b 2%|$52.8b

  5. U.S. FDI Trends European Direct Investment the United States Average Annual Growth Rate of FDI Positions by Stock FDI Positions by Stock Total: $1.4 Trillion Source: Department of Commerce, Bureau of Economic Analysis – FDI by Ultimate Beneficiary Owner

  6. Greek FDI in Perspective Source: fDi Markets 2003-Present

  7. FDI in the U.S.Industry Perspective Industry Breakdown of FDI Position in the United States, 2009 Source: Bureau of Economic Analysis

  8. FDI Compound Annual GrowthRates By Industry, 2006-2010 Source: Department of Commerce, Bureau of Economic Analysis – FDI by Ultimate Beneficiary Owner

  9. U.S. Food Processing Industry $538 billion stock 1.5 million jobs 28,400 establishments 89% fewer than 100 workers Sources: Bureau of Labor Statistics, Department of Commerce, Plunkett Research LTD

  10. Recent Greek FDI into the Food Sector $130 million 120 jobs $27 million 172 jobs Source: fDi Markets

  11. Greek FDI in the United States Recent Greenfield Investment Announcements in Other Industries: December 2009: HelioSphera, a Greece-based solar manufacturer announced that it will construct a new $500m photovoltaics module factory in Philadelphia, Pennsylvania. October 2009: Intralot, which designs and develops hardware and software for lottery gaming systems, established a distribution operation in Deerfield Township, Ohio. The $14.5 million dollar operation will employ 60 staff. July 2011: Upstream, a global mobile marketing technology and solutions provider, has opened its new United States headquarters in Silicon Valley, located in Redwood City, California. Source: fDi Markets

  12. The United States: A Great Return on Investment • Strategic Market & FTAs • Population of U.S. and FTAs is 610 million; U.S. 42% of Global Consumer Goods Market1 • Center for Global Innovation and Entrepreneurship • U.S. Responsible for 40% of Total World R&D Expenditures; 11.5% of Americans are Entrepreneurs2 • Strong Intellectual Property Right Protections • 50% of the Patents Granted in 2009 by the U.S. Patent Office Originated from a Foreign Country3 • A Leader in Higher Education • Six of the Top Ten Universities in the World are in the U.S.4 • Productive Workforce • U.S. leads world in labor productivity per person; productivity gap between U.S. and most developed economies growing5 • Open to People, Cultures, and Ideas • U.S. has more Irish than Ireland, Filipinos than Manila, Chinese than Hangzhou* and Poles than Warsaw6 1. Office of the U.S. Trade Representative; Central Intelligence Agency – The World Factbook; and Credit Suisse survey; 2 RAND Corporation’s National Defense Research Institute; Florida International University/University of Michigan study, 2005; 3. U.S. Patent and Trademark Office; 4. The Times Higher Education Supplement 2009 (U.K.); 5. 2007 International Labor Organization Report; 6. U.S. Census Bureau, *Hangzhou city proper

  13. The U.S. Business Climate World Economic Forum’s 2010-2011 Global Competitiveness rankings on Innovation France: #19 Germany: #8 UK: #14 #1 #1 IESE Business School’s 2009-2010 Venture Capital and Private Equity Index France: #14 Germany: #10 UK: #2 #2 AT Kearney’s 2010 FDI Confidence Index France: # 13 Germany: #5 UK: #10 #5 World Economic Forum’s 2011-2012 Global Competitiveness rankings France: #18 Germany: #6 UK: #10

  14. The United States: World Leader in Research & Development In 2010, 34% of all R&D in the world took place in the United States Almost 50% of all researchers in the developed world work in the U.S. Approximately 45% of Nobel prize winners in the fields of Chemistry, Medicine, and Physics completed their winning research in the U.S. 14 Sources: OECD, www.nobelprize.org

  15. Executive Order SelectUSA was created by the Executive Order of the President of the United States in June 2011. The Executive Order outlines: • The Administration’s policy on business investment • The establishment and functions of the SelectUSA initiative

  16. Connect Investors to State/Local EDOs

  17. Facilitating Business Inquiries SelectUSAprovides actionable information to foreign firms to help them: • Incorporate a business in the U.S. • Understand basic U.S. tax and legal concepts • Learn about incentives available to businesses in the U.S. • Connect with U.S. state, city, or regional economic development offices to learn about investment opportunities • Apply for a business-related visa Foreign investors can communicate with SelectUSAstaff by phone or email in Washington, DC, or meet with members of the U.S. Foreign Commercial Service in almost 80 countries around the world.

  18. Act as Ombudsman Solve investor inquiries across the federal agencies

  19. Conduct Investor Outreach Searchable Guide to Federal Investment Resources at www.selectusa.gov Promote the U.S. business climate worldwide Contact SelectUSA with questions at 202-482-6800

  20. Contact Information David McNeillSenior Commercial Officer U.S. Embassy AthensTel: 30-210-720-2302Email: david.mcneill@trade.gov Web: http://athens.usembassy.gov/ Christopher Clement Manager, Global Business Attraction SelectUSA (Washington, DC)Tel: +1 202-482-0929Email: cclement@doc.gov Web: http://selectusa.gov/

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