Andrae J. Marrocco (Of Counsel, Toronto) and Daniel D. Ujczo (Of Counsel, Columbus) were appointed as Joint Secretaries to the board of the Invest USA Committee at SelectUSA Canada on November 17, 2015 in Toronto. U.S. Ambassador to Canada, Bruce Heyman, launched the innovative Invest USA program to assist Canadian companies with their expansion opportunities into the U.S. PNC Bank Canada Regional President Dave Olsen will chair the committee.
The announcement was made at the first ever SelectUSA Canada Conference, held in Toronto at the Metro Toronto Convention Center during Ambassador Heyman’s keynote lunch address. The Conference program was designed to educate Canadian investors on the procedures for investing in the United States, and featured matchmaking meetings between Canadian investors and U.S. Economic Development Organizations.
The Invest USA Committee is a new public-private partnership that brings together key players in the Greater Toronto Area that will jointly promote and facilitate Canadian outbound direct investment into the United States. The Invest USA Committee will coordinate closely with the SelectUSA program under the U.S. Department of Commerce’s International Trade Administration. By leveraging joint resources, the Committee will coordinate activities to help Canadian companies more effectively expand their presence in the U.S. market. The Committee will also be a valuable resource for Canadian investors to learn about opportunities, understand best practices, and get referrals to qualified service providers to help them maximize the chances of successful investment in the U.S. For Committee members, the coordinated efforts will help increase their business prospects through high-profile events and investor prospect referrals.
The objectives of the Committee include the following:
- Promote the U.S. as the premier destination for Canadian investment
- Increase the number and value of Canadian investments in the U.S.
- Help Canadian investors successfully expand their presence in the U.S.
- Stimulate bilateral economic development and job creation
- Educate Canadians about investing in the U.S. to help overcome myths, share best practices, and increase understanding of the benefits of service providers
- Identify and build relationships with clients and force-multiplier organizations
- Collaborate on identifying and overcoming regulatory or other obstacles.
The Committee is a membership-based group that welcomes organizations that share the mutual objective of promoting Canadian outbound direct investment into the U.S. Invest USA Committee members include: the U.S. Government, U.S. state and local economic development organizations, the American Chamber of Commerce in Canada, and a range of private sector service providers that help facilitate Canadian investment in the U.S. (law firms, accounting firms, banks, PR firms, consulting firms, commercial real-estate firms, HR consulting firms, etc.). The planned activities of the Committee will include creation and distribution of an “Invest in the USA Service Providers Directory,” and participation in promotional events, committee member meetings and investment policy advocacy.