“So the American economy needs the world, and the world needs the American economy.”
-Rodrigo Rato
This week our team is at the SelectUSA Investment Summit, an annual gathering of states and regions around the country to promote the United States to foreign-owned companies considering doing business in our great nation. Hundreds of companies will meet with states and cities to learn more about what it takes to enter and succeed in the U.S. marketplace.
While I strongly believe the United States is still the very best market in the world for global companies to operate in and profit, it can be difficult to succeed. First, the U.S. is a big place with several geographic markets. Being in the wrong place to serve your customer base, especially in this era of immediate delivery times, may doom a company’s prospects. Second, each state and city have different tax and regulatory systems that can make understanding the ideal place to do business confusing and complex.
Third, the United States is a very competitive location. The world’s best companies serve the market and the country’s long-standing focus on entrepreneurship is constantly bringing disruption and innovation to industries.
Fortunately, companies can get a lot of assistance. At the federal level, SelectUSA can be a great guide for understanding business in the United States. State and regional economic development organizations, such as JobsOhio and One Columbus, can assist you directly and provide excellent counsel. Third, there are professional location advisors that help companies assess the market and do comprehensive cost analysis of new operations.
Over 1,100 companies are at this week’s SelectUSA Investment Summit to investigate investing in the United States. This is a great indicator that the U.S. remains a large, growing and trusted global market. Our demographics, our legal system, and our natural resources are all assets that continue to attract growing companies and entrepreneurs. With a lot of work and good counsel, many of these companies will be successful.
-Kenny McDonald
One Columbus Update
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