NATIONAL HARBOR, Md. — President Joe Biden cited supply chain achievements while telling a U.S. Commerce Department networking event between states and 70 foreign countries, “There’s never been a better time to invest in America than right now.” Biden made a short video address May 3 during the 2023 SelectUSA Investment Summit, hosted by Commerce Secretary Gina Raimondo on May 1-4 at the Gaylord National Resort and Convention Center. The event brought 1,400 vetted foreign investors seeking to establish or expand their businesses in the United States. “For the past two years, I’ve signed historic laws that are unleashing manufacturing, modernizing our critical infrastructure, strengthening our supply chain,” Biden said, adding, “that’s on top of world-class universities, the most innovative entrepreneurs, stronger intellectual property rights and the most productive workforce.” He noted companies have committed more than $400 billion in private sector investments in his administration. One-third is from foreign investment, according to the Commerce Department. This year’s top investment industries included agribusiness, automotive, consumer goods, food/beverage and energy. Transportation Secretary Pete Buttigieg, in a video message, told the group about federal “once-in-a-generation investments in transportation” as well as clean energy and being “excited to team up with you to deliver safe, sustainable and modern roads, bridges, rail transport, air traffic, electric vehicles.” Discussing “the early results and future promise of our policies in electric vehicles and the charging infrastructure to support it,” he declared, “if your business deals with innovation and the future of transportation, this is the place to be.”
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