U.S. Commerce Secretary Penny Pritzker, U.S. Labor Secretary Thomas Perez, Senior Advisory to the President Valerie Jarrett and NEC Director Jeff Zients Host Swiss Vice President and Delegation of Leading CEOs for Discussion on Investing in the U.S.
Delegation will focus on SelectUSA Investment Summit, promoting effective apprenticeship models, and innovative R&D
U.S. Secretary of Commerce Penny Pritzker, U.S. Secretary of Labor Thomas Perez, Senior Advisor to the President Valerie Jarrett and Director of the National Economic Council Jeffrey Zients today hosted a delegation of Swiss business leaders in Washington, D.C. The delegation, led by Vice President of the Swiss Confederation, Federal Councillor Johann Schneider-Ammann and U.S. Ambassador to Switzerland and Liechtenstein Suzan LeVine, included chief executive officers and senior executives from Alevo Group, Bühler, Kudelski Group, Nestlé, Novartis, Pilatus Aircraft, Reha Technology, and Zurich Insurance Group.
This delegation was invited to the United States as part of an Administration-wide effort to expand job-creating foreign direct investment (FDI) through the SelectUSAprogram, which is housed within the Department of Commerce. The eight executives announced plans to invest approximately $3 billion in their U.S. operations starting in 2015, reflecting strong and persistent growth of Swiss investment in the U.S. economy. Several of the participating companies have also committed to attending the 2015 SelectUSA Investment Summit, to be held in March.
“I’m thrilled to welcome Federal Councillor Schneider-Ammann and the Swiss delegation to the United States to focus on mutually-beneficial investment opportunities,” said Secretary Pritzker. “Swiss investment in the U.S. currently ranks 6th among all countries and supports hundreds of thousands of American jobs, and the fact that leading Swiss brands have chosen to operate their subsidiaries here is a testament to our nation’s competiveness. These companies recognize the value that U.S. operations bring to a successful global strategy, and we are eager to welcome additional Swiss investment to our shores.”
Swiss foreign direct investment (FDI) into the United States grew by 115 percent from 2009-2013, from $65 to $140 billion. Switzerland is the 6th largest source of FDI in United States, and U.S. subsidiaries of Swiss firms employed more than 472,200 U.S. workers in 2012. Swiss investors are the top international source of research and development (R&D) investment in the United States, spending nearly $9.4 billion in 2012.
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