The “Global Investment in American Jobs Act” is bipartisan legislation that would enhance our nation’s efforts to attract global business investment and the jobs that come with it. While the United States remains the world’s leading recipient of foreign direct investment (FDI), our global share has dropped significantly from roughly 37 percent in 2000 to just over 17 percent in 2011. Now more than ever before, global companies have an unprecedented array of options when looking to invest, expand, or establish new operations.
The “Global Investment in American Jobs Act of 2013” would direct the Secretary of Commerce to lead the first-ever comprehensive interagency review of U.S. competitiveness for FDI and issue recommendations to Congress outlining a new strategic roadmap for attracting and retaining top tier businesses from around the world. This legislation would send a powerful message that America is ready to compete in a new way for global investment.
This legislation was introduced in the House (H.R. 2052) by Representatives Lee Terry (R-NE), Jan Schakowsky (D-IL), Peter Roskam (R-IL), and John Barrow (D-GA). The Senate bill, S. 1023, was introduced by Senators Bob Corker (R-TN), Amy Klobuchar (D-MN), Roy Blunt (R-MO), and Kay Hagan (D-NC).
A previous version of “Global Investment in American Jobs Act” passed the House in the 112th Congress and garnered strong support in the Senate.
Business Coalition Letter in Support of S.1023, September 2013
OFII Press Release, May 2013
Corker-Klobuchar Press Release, May 2013