Yesterday, Deputy Secretary of Commerce Don Graves, Assistant Secretary of Global Markets and Director General of the Foreign Commercial Service Arun Venkataraman, and SelectUSA Executive Director Jasjit Singh met with the U.S. Investment Advisory Council (IAC) for their final meeting of the term. They provided an update on the progress made on the recommendations submitted by the Council throughout their term and thanked them for their service.

During the meeting, Deputy Secretary Graves highlighted how landmark legislation spearheaded by the Biden-Harris Administration, such as the CHIPS and Science Act and the Inflation Reduction Act, is playing a key role in helping the United States retain its position as the premier destination for foreign direct investment (FDI). He highlighted the incredible opportunities for foreign investors to help develop the next generation of American innovative technologies – from semiconductor production to the clean energy economy – and emphasized the milestone achieved by SelectUSA earlier this year, facilitating more than $200 billion in client-verified FDI, which supports more than 200,000 jobs across the country.

Assistant Secretary Venkataraman and Executive Director Singh shared updates on the progress made with regards to the IAC recommendations that were submitted over the course of the term and encouraged everyone to attend the 10^th SelectUSA Investment Summit this year. Chair Barbara Humpton and Vice Chair Richard Chin discussed a final report that they plan to submit summarizing the accomplishments of the Council and best practices for future members.