Promoting Foreign Direct Investment David McNeill Senior Commercial Officer Commercial Service Athens U.S. Embassy 1

Greek FDI in the U.S.

FDI and the U.S. Economy 5.3 million $49 billion $85 billion $228 billion $449 billion 25 percent 18 percent Workers Employed by U.S. Affiliates of Foreign Firms in the U.S. in 2009 Amount U.S. Affiliates of Foreign Firms spent on R&D in the U.S. in 2009 Amount U.S. Affiliates of Foreign Firms Reinvested into the U.S. Economy in 2010 Size of FDI Flows into the U.S. in 2010 Amount of Wages Paid to Employees of U.S. Affiliates of Foreign Firms in 2009 U.S. Affiliates of Foreign Firms Pay on Average 25 percent Higher Wages and Salaries than U.S. Establishments U.S. Affiliates of Foreign Firms Generate 18 percent of all U.S. Exports as of

4 5% | $118b U.S. FDI Trends Top 10 FDI Stock Positions, % | $238.2b 2%|$52.8b 21% | $497.5b 11% | $257.2b 9% | $209b 11% | $263.2b 2% | $52.2b 3% | $61.6b 3% | $61.5b

FDI Positions by Stock Average Annual Growth Rate of FDI Positions by Stock 5 U.S. FDI Trends European Direct Investment the United States Source: Department of Commerce, Bureau of Economic Analysis – FDI by Ultimate Beneficiary Owner Total: $1.4 Trillion

6 Greek FDI in Perspective Source: fDi Markets 2003-Present

7 Industry Breakdown of FDI Position in the United States, 2009 Source: Bureau of Economic Analysis FDI in the U.S. Industry Perspective

8 FDI Compound Annual Growth Rates By Industry, Source: Department of Commerce, Bureau of Economic Analysis – FDI by Ultimate Beneficiary Owner

9 U.S. Food Processing Industry $538 billion stock 1.5 million jobs Sources: Bureau of Labor Statistics, Department of Commerce, Plunkett Research LTD 28,400 establishments 89% fewer than 100 workers

10 Recent Greek FDI into the Food Sector $130 million 120 jobs $27 million 172 jobs Source: fDi Markets

11 Greek FDI in the United States Recent Greenfield Investment Announcements in Other Industries : Source: fDi Markets October 2009: Intralot, which designs and develops hardware and software for lottery gaming systems, established a distribution operation in Deerfield Township, Ohio. The $14.5 million dollar operation will employ 60 staff. December 2009: HelioSphera, a Greece-based solar manufacturer announced that it will construct a new $500m photovoltaics module factory in Philadelphia, Pennsylvania. July 2011: Upstream, a global mobile marketing technology and solutions provider, has opened its new United States headquarters in Silicon Valley, located in Redwood City, California.

The United States: A Great Return on Investment 12 Strategic Market & FTAs Population of U.S. and FTAs is 610 million; U.S. 42% of Global Consumer Goods Market 1 Center for Global Innovation and Entrepreneurship U.S. Responsible for 40% of Total World R&D Expenditures; 11.5% of Americans are Entrepreneurs 2 Strong Intellectual Property Right Protections 50% of the Patents Granted in 2009 by the U.S. Patent Office Originated from a Foreign Country 3 A Leader in Higher Education Six of the Top Ten Universities in the World are in the U.S. 4 Productive Workforce U.S. leads world in labor productivity per person; productivity gap between U.S. and most developed economies growing 5 Open to People, Cultures, and Ideas U.S. has more Irish than Ireland, Filipinos than Manila, Chinese than Hangzhou* and Poles than Warsaw 6 1. Office of the U.S. Trade Representative; Central Intelligence Agency – The World Factbook; and Credit Suisse survey; 2 RAND Corporation’s National Defense Research Institute; Florida International University/University of Michigan study, 2005; 3. U.S. Patent and Trademark Office; 4. The Times Higher Education Supplement 2009 (U.K.); International Labor Organization Report; 6. U.S. Census Bureau, *Hangzhou city proper

The U.S. Business Climate World Economic Forum’s Global Competitiveness rankings France: #18Germany: #6UK: #10 AT Kearney’s 2010 FDI Confidence Index France: # 13Germany: #5UK: #10 #2 #5 #1 IESE Business School’s Venture Capital and Private Equity Index France:#14Germany: #10 UK: #2 World Economic Forum’s Global Competitiveness rankings on Innovation France: #19 Germany: #8UK: #14 #1 13

14 The United States: World Leader in Research & Development In 2010, 34% of all R&D in the world took place in the United States Almost 50% of all researchers in the developed world work in the U.S. Approximately 45% of Nobel prize winners in the fields of Chemistry, Medicine, and Physics completed their winning research in the U.S. Sources: OECD,

Executive Order 15 1.The Administration’s policy on business investment 2.The establishment and functions of the SelectUSA initiative SelectUSA was created by the Executive Order of the President of the United States in June The Executive Order outlines:

Connect Investors to State/Local EDOs 16

17 Facilitating Business Inquiries SelectUSA provides actionable information to foreign firms to help them: Incorporate a business in the U.S. Understand basic U.S. tax and legal concepts Learn about incentives available to businesses in the U.S. Connect with U.S. state, city, or regional economic development offices to learn about investment opportunities Apply for a business-related visa Foreign investors can communicate with SelectUSA staff by phone or in Washington, DC, or meet with members of the U.S. Foreign Commercial Service in almost 80 countries around the world.

Act as Ombudsman 18 Solve investor inquiries across the federal agencies

Conduct Investor Outreach Searchable Guide to Federal Investment Resources at Promote the U.S. business climate worldwide Contact SelectUSA with questions at

Contact Information 20 David McNeill Senior Commercial Officer U.S. Embassy Athens Tel: Web: Christopher Clement Manager, Global Business Attraction SelectUSA (Washington, DC) Tel: Web: