July 20, 2016

We attended the SelectUSA summit held on June 19th in Washington, D.C. The Summit hosted multi-national companies, government officials, economic development organizations and investors from all over the world. The Turkish delegation consisted of around 30 companies, which have already invested or in the process of investing in the U.S.

President Obama was in attendance and delivered the keynote speech. He said that “nowhere in the world and never in history has there been a better place to grow your business.” SelectUSA provided comprehensive data to support this assertion which can be found here.

In 2013, U.S. Affiliates of Foreign companies employed 6.1 million people in the Unites States, spent $53 billion on U.S. research and development, and exported $360 billion of goods. The SelectUSA summit reflects the United States support of facilitating economic growth provided by foreign investment.

Also, a new study from the National Bureau of Economic Research found that more than one in four entrepreneurs in the U.S. are immigrants. The same percentage goes for all employees in new companies. The share of new companies with at a minimum of one immigrant entrepreneur was %37. Moreover, one in three companies has at least one immigrant in its "founder team," and the share of immigrants among all employees in those firms has been rising.

Remzi Guvenc Kulen Esq.

Kulen Law Firm, P.C.