Illinois kicks off World Trade Month with delegation of state and local economic development organizations attending the SelectUSA Investment Summit – the premier FDI convening in the U.S.
The State of Illinois today announced its delegation for the 2023 SelectUSA Investment Summit, led by the Illinois Department of Commerce and Economic Opportunity (DCEO), Intersect Illinois and six economic development partners. Hosted by the U.S. Department of Commerce, the annual SelectUSA Investment Summit represents the highest-profile economic summit in the country dedicated to promoting foreign direct investment (FDI).
Illinois’ attendance at SelectUSA coincides with World Trade Month in May, a monthlong opportunity to promote and celebrate the importance of international trade to the U.S. and Illinois economy.
“Since I became governor, Illinois has transformed into a national leader in corporate relocations and expansions, all thanks to a diversified economy, highly qualified and educated workforce, and world-class infrastructure,” said Governor JB Pritzker. “I look forward to this year’s SelectUSA conference, where we’ll continue to show everyone why Illinois is the best place in the nation to live, work, do business, and raise a family.”
The annual SelectUSA Investment Summit convenes delegations from across the country to promote the United States as the world’s premier investment destination, connecting foreign firms with U.S. economic development organizations to facilitate business investment and job creation. The 2023 SelectUSA Summit will attract an estimated 3,000 attendees with more than 1,200 business investors representing approximately 70 international markets, offering Illinois and its partners an opportunity to network and create new pathways for investment opportunities.
“Illinois is home to thousands of international companies who choose the state for its top workforce, diversified economy and unmatched infrastructure,” said DCEO Director Kristin A. Richards. “As foreign direct investment continues to play a major role in Illinois’ economy, we look forward to attending this year’s Summit to create new connections and promote Illinois’ unmatched assets.”
The delegation is spearheaded by Illinois’ Office of Trade and Investment (OTI) which builds global relationships through its six regional foreign offices by participating in international trade shows, helping Illinois companies who are looking to expand exports and helping attract international companies to Illinois. OTI works closely with Intersect Illinois, the state’s not-for-profit business attraction organization that helps companies navigate the site selection process.
With the 19th largest economy in the world topping a $1 trillion GDP in 2022, Illinois is a premier option for international firms. FDI plays a major role in the state’s economy, with over 2,600 international companies representing over 70 countries directly supporting over 375,000 jobs in Illinois. Illinois has attracted significant FDI investments within the last year, powering major projects in the fields of food processing, advanced and biochemical manufacturing, and more. Notable company locations or expansions include LG Chem (South Korea), Ferrero (Italy), Flender Corporation (Germany), and Roncadin (Italy).
“SelectUSA provides us the unique opportunity to showcase Illinois’ tremendous assets to international companies looking for a U.S. location,” said Intersect Illinois CEO Dan Seals. “Our team from across the state comes together to showcase how Illinois’ location, infrastructure and talent can’t be beat.”
Recent FDI investments come as Illinois has received notable recognition in 2023, including being named number one for workforce development in the Midwest, the number one ranked area (Chicagoland) and the number two state for corporate investments and relocations in the U.S., further establishing the state as a global economic powerhouse.
To continue attracting major job creators and building its economy, Illinois recently implemented a suite of new and expanded business attraction tools, including a $400 million closing fund, expanded Reimagining Energy and Vehicles (REV) incentives designed to grow its clean energy manufacturing footprint, and a new $40 million investment in megasite development, among others.
Team Illinois partners attending this year’s Summit include:
- DCEO Director Kristin A. Richards and senior DCEO leadership
- Intersect Illinois CEO Dan Seals and team
- Ameren Illinois
- Chicago Southland Economic Development Corporation
- Greater Peoria Economic Development Council
- Southern Illinois Now (SI Now)
- Will County Center for Economic Development
Delegates will promote a wide variety of Illinois communities for business investment, while highlighting the state’s assets. The Illinois booth will showcase the state’s modern transportation infrastructure, talented and diverse workforce, easy access to key suppliers, markets, and customers, as well as its supportive business climate and central location.
For updates, follow hashtags #SelectUSASummit, #BeInIllinois, #FDI, #EconDev and the following accounts: @IllinoisDCEO @intersectillini1 @SelectUSA @CommerceGov @TradeGov. Attendees are encouraged to visit Illinois’ booth (#709) near the SelectUSA Pavilion.