Washington D.C. -
Penn's Northeast participated in the 2024 SelectUSA Investment Summit, joining Pennsylvania Department of Community and Economic Development (DCED) officials to promote Northeastern Pennsylvania as a premier destination for international investment. Hosted by the U.S. Department of Commerce, the SelectUSA Investment Summit is the federal government’s top event for encouraging foreign business investment in the United States.
This year's event marked the largest in the summit’s history, attracting over 5,000 attendees, including more than 2,500 international delegates from 80 countries. Held near Washington, D.C., the summit served as a dynamic platform for fostering global economic partnerships and showcasing the diverse investment opportunities across the U.S.
Promoting Northeastern Pennsylvania
Penn's Northeast’s participation at the summit was a strategic move to spotlight Northeastern Pennsylvania's unique advantages for international businesses. The region, known for its robust infrastructure, skilled workforce, and competitive cost of living, offers a fertile ground for businesses seeking to expand or relocate within the United States.
John Augustine, President and CEO of Penn's Northeast, in collaboration with DCED representatives, engaged with multiple international delegations, providing insights into the region's economic landscape and highlighting key sectors such as food manufacturing, plastics, and advanced manufacturing. Their goal was to attract foreign direct investment (FDI) and create new economic opportunities for the region.
Collaborative Efforts with Pennsylvania DCED
Penn's Northeast’s efforts were bolstered by the presence of Pennsylvania DCED officials, who underscored the state’s commitment to fostering a business-friendly environment. Together, they showcased Pennsylvania's comprehensive support system for foreign investors, including tax incentives, workforce development programs, and streamlined regulatory processes.
Secretary Rick Siger of the Pennsylvania DCED emphasized, "Pennsylvania offers unparalleled opportunities for international companies. Our collaboration with organizations like Penn's Northeast ensures that we present a unified and compelling case for why Pennsylvania is the ideal destination for investment" .
Strengthening Global Economic Ties
The summit provided a unique opportunity for Penn's Northeast to strengthen its global economic ties. By participating in panel discussions, networking events, and one-on-one meetings, the team was able to build valuable relationships with potential investors and industry leaders from 96 international markets.
Augustine stated, "The SelectUSA Investment Summit is an invaluable platform for us to connect with international investors and showcase the strengths of Northeastern Pennsylvania. Our participation this year has opened doors for new partnerships and investment opportunities that will benefit our region for years to come."
Looking Ahead
As Penn's Northeast continues to leverage such platforms to attract international investment, the organization remains committed to its mission of driving economic growth and enhancing the quality of life in Northeastern Pennsylvania. The relationships and insights gained from the 2024 SelectUSA Investment Summit will play a crucial role in shaping the region’s economic future and reinforcing its position on the global stage.
For more information about investment opportunities in Northeastern Pennsylvania, please visit Penn's Northeast at pennsnortheast.com.
For more information about the SelectUSA Investment Summit, visit selectusa.gov.
