Commerce Department appoints Chuck Whipple as an inaugural member of Foreign Direct Investment Advisory Council

U.S. Secretary of Commerce Penny Pritzker announced the appointment of 19 private and public sector leaders to the newly established U.S. Investment Advisory Council (IAC). IAC members — representing U.S. companies, entities, and organizations with missions or activities that include the promotion or facilitation of foreign direct investment (FDI) — will serve as a key conduit for stakeholder input on how best to support U.S. economic growth through the attraction and retention of FDI.

“U.S. affiliates of foreign companies directly employ 6.1 million people across our nation and pay higher than average wages which positively impacts nearly every facet of our economy,” said Secretary Pritzker. “Attracting more job-creating foreign investment has always been a priority for the Obama Administration.”

Established in April 2016, the IAC will advise the Secretary of Commerce on U.S. government policies and programs that affect FDI; identify and recommend programs and policies to help the United States attract and retain FDI; and recommend ways to support the United States in remaining the world’s preeminent destination for FDI. Specific priorities and recommendations will be determined by IAC members, all of whom are appointed for two-year terms.

The diverse appointees of the inaugural U.S. Investment Advisory Council are:

• Charlton (Chuck) Whipple – Chairman of the Southern Economic Development Council
• Mark Beariault – General Counsel and Head of Legal Affairs, Kudelski Group
• David Burrows – Vice President, Fuyao Glass America Inc.
• Chris Camacho – President and CEO, Greater Phoenix Economic Council
• Nikia Clarke – Executive Director, World Trade Center San Diego
• Jeffrey A. Finkle – President, International Economic Development Council
• Jane Garvey – Chair, Meridiam North America and Board Director, LaGuardia Gateway Partners (IAC Chair)
• Mani Iyer – President and CEO, Mahindra North America
• Peter Lowy – Co-CEO, Westfield
• Elie W. Maalouf – CEO, The Americas, InterContinental Hotels Group
• Kenny McDonald – President and Chief Economic Officer, Columbus 2020
• Ying McGuire – Vice President of Operations and Business Development, Technology Integration Group
• Nancy McLernon – President and CEO, Organization for International Investment
• Jan Rogers – CEO, Regional Economic Development for Eastern Idaho
• Catherine Smith – Commissioner, Connecticut Department of Economic and Community Development (IAC Vice Chair)
• Irene Spanos – Director of Economic Development & Community Affairs, Oakland County, Mich.
• Eric Spiegel – President and CEO, Siemens USA
• Mark Weinberger – Global Chairman and CEO, Ernst & Young Global Limited
• Jeffrey Wilson – President and CEO, Gestamp North America and Gestamp Asia Pacific Corporation

The IAC’s inaugural meeting will be held on June 21, to coincide with the 2016 SelectUSA Investment Summit, a three-day event in Washington, D.C., that promotes FDI in the United States. The Summit will attract more than 2,000 participants from economic development organizations as well as U.S. and foreign firms, service providers, domestic and international media, and senior Obama administration and government officials.

As a relatively new program within the U.S. Department of Commerce’s International Trade Administration, SelectUSA has already made an impact by helping facilitate more than $19 billion worth of FDI. The United States is the leading recipient of foreign investment worldwide with a total stock of FDI valued at $2.9 trillion (or 18 percent of GDP).