Antony J. Blinken 71st U.S. Secretary of State | Official Website
Secretary Antony J. Blinken addressed attendees at the 2024 SelectUSA Investment Summit on June 25, 2024, emphasizing the United States as a premier destination for investment. Blinken acknowledged Secretary Raimondo, Deputy Secretary Graves, and the Commerce Department for their leadership.
Blinken welcomed thousands of foreign investors and leaders from nearly every U.S. state and territory, calling the event “the World Cup of U.S. market entry.” He underscored the advantages of investing in the U.S., including world-class universities, tech hubs, manufacturing centers, a culture of innovation and entrepreneurship, and a transparent legal system with strong intellectual property protections.
Through legislation like the Bipartisan Infrastructure Law, the CHIPS and Science Act, and the Inflation Reduction Act, Blinken stated that the U.S. is enhancing its investment appeal by modernizing infrastructure and strengthening supply chains. He highlighted that these efforts have contributed to economic recovery post-COVID-19 better than any other advanced democracy.
He also mentioned ongoing initiatives to strengthen economic partnerships globally through frameworks like the Indo-Pacific Economic Framework and the Americas Partnership for Economic Prosperity.
Over three years, global businesses have invested over $1 trillion in the U.S., supporting millions of jobs. Blinken cited specific examples: Neolpharma’s $16 million investment in Puerto Rico for COVID treatments; Meyer Burger’s $400 million solar facility in Colorado; SK Hynix’s $3.8 billion chip manufacturing plant in Indiana.
These investments are described as beneficial not only for boosting competitiveness but also for creating secure supply chains and safeguarding the planet. Blinken asserted that economic success can be mutually advantageous globally.
The State Department is facilitating easier access for investors through visa policy adjustments such as waiving in-person interview requirements for many work visa applicants who previously held another type of U.S. visa. Additionally, eligible applicants can renew their visas within the U.S., which has benefited numerous companies across states.
Special Representative for Commercial and Business Affairs Sarah Morgenthau was introduced as a key contact point for potential foreign investors unfamiliar with doing business in America.
Blinken concluded by encouraging attendees to leverage this summit to build relationships and explore opportunities in America’s vibrant economy. He echoed President Biden's sentiment: "Bet on America."
