President Barack Obama is seeking to counter competition for investment from emerging economies by putting the federal government at the center of a coordinated campaign to bring new capital to the U.S.
At a Commerce Department investment summit in Washington today, Obama outlined what the White House is calling an “all hands on deck effort” to attract investments and jobs from foreign companies, a job traditionally carried out by governors and mayors.
“I want to make sure we can doing everything we can” to encourage companies “to set up shop” in the U.S., Obama said at the first SelectUSA investment summit, kicking off a government-wide initiative to showcase the benefits of investing in the U.S. economy.
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