SelectUSA provided key assistance to moving $8 billion investment forward U.S. Secretary of Commerce Penny Pritzker today issued the following statement regarding Sasol Limited’s energy development in Louisiana. Today, Sasol issued the final investment decision by its Board of Directors on the ethane cracker and derivatives project planned for Southwest Louisiana. The company will spend $8 billion to build the complex and in the process create 500 direct new jobs, more than 5,000 construction jobs, and thousands of indirect jobs in Louisiana and other parts of the United States.
SelectUSA , the U.S. government-wide program housed within the Department of Commerce, worked closely with the state through the Louisiana Economic Development (LED) office to advocate for this investment. SelectUSA, which serves as a single point of contact at the federal level, coordinated with several federal agencies to provide critical assistance to Sasol and LED during the process leading up to this final decision.
The following is a statement from U.S. Commerce Secretary Penny Pritzker on the Sasol investment: This historic investment creates thousands of jobs, while also contributing to the renaissance of the United States as the leading location for foreign direct investment. In 2014, the United States once again took the top spot in A.T. Kearney’s Foreign Direct Investment Confidence Index with the highest positive rating by international executives in the 16-year history of the survey. In August, the Commerce Department released data showing that the United States attracted $231 billion in foreign direct investment in 2013, up from $161 billion dollars in 2012. Our team at SelectUSA continues to work directly with investors, as well as U.S. state and local governments, to facilitate this kind of job-creating investment and I am proud that they were able to assist with this investment decision.
Last year, Sasol shared their commitment to the U.S. market with the international investment community at the SelectUSA Investment Summit , and we congratulate David Constable and his team as Sasol prepares to move forward. We see both Sasol and Louisiana Economic Development as collaborative partners who are working with us to make workforce development a priority. American workers are the most productive in the world and job training tools developed with companies like Sasol are essential for keeping our workforce competitive.” About SelectUSA : Established by President Obama in 2011, the program promotes and facilitates business investment into the United States. Housed within the U.S. Department of Commerce, SelectUSA coordinates related federal government agencies to serve as a single point of contact for investors. SelectUSA assists U.S. economic development organizations to compete globally for investment by providing information, a platform for international marketing, and high-level advocacy. SelectUSA also helps investors find the information they need to make decisions; connect to the right people at the local level; navigate the federal regulatory system; and find solutions to issues related to the federal government. On March 23-24, 2015, Secretary Penny Pritzker will host the second SelectUSA Investment Summit in Washington, D.C.
Source: U.S. Department of Commerce
