Outline of the United States with the SelectUSA Logo in the center.
THE U.S. INVESTMENT ADVISORY COUNCIL (IAC)
Learn about how the IAC advises Department of Commerce leadership on FDI policy.

SelectUSA Investment Advisory Council

ABOUT THE IAC

The U.S. IAC advises the Secretary of Commerce on the development and implementation of strategies and programs to attract and retain foreign direct investment (FDI) in the United States.

The IAC can have up to 40 members who serve a two-year term. Members are business or economic development leaders representing various industries, companies, associations, regional, state and local economic development organizations, and other organizations.

The IAC is responsible for: advising the Secretary of Commerce on U.S. government policies and programs that affect FDI; identifying and recommending programs and policies to help the United States attract and retain FDI; and recommending ways to support the United States remaining the world’s preeminent destination for FDI.

APPLY TO JOIN THE U.S. INVESTMENT ADVISORY COUNCIL - Deadline Extended

The mission of the IAC is to serve as a key conduit for stakeholder input on how best to support U.S. economic growth through the attraction and retention of foreign direct investment (FDI).

Applying is easy: for full membership criteria and application details, please review the Federal Register Notice.

This Council will consist of no more than 40 members appointed by the Secretary of Commerce. Each IAC member will serve for a two-year period and the Council will convene at least twice a year.

The IAC shall:

  • Advise the Secretary 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 position of the United States as the world’s preeminent destination for FDI.  

Apply by May 15, 2024. General inquiries can be addressed to IAC@trade.gov.

APPLY TO THE IAC

PAST IAC MEETINGS
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U.S. INVESTMENT ADVISORY COUNCIL (IAC) MEETING

Monday, March 25, 2024 at 10:00 ET

AGENDA

U.S. INVESTMENT ADVISORY COUNCIL (IAC) MEETING

Location: Commerce Department, Washington DC and WebEx

  1. Welcome Remarks – 5 Minutes
    Arun Venkataraman, Assistant Secretary of Commerce for Global Markets, and Director General of the U.S. and Foreign Commercial Service Global Markets
     
  2. Keynote Remarks – 5 Minutes
    Don Graves, Deputy Secretary, U.S. Department of Commerce  
     
  3. Opening Remarks – 5 Minutes  
    Chair Barbara Humpton, President and CEO, Siemens      
    Vice Chair Richard Chin, Chairman and CEO, SK Global Development Advisors Inc.
     
  4. Updates on Prior Recommendations – 20 Minutes  
    Jasjit Singh, Executive Director, SelectUSA
     
  5. Subcommittee Reports and Ongoing Recommendations – 15 Minutes
    Facilitated by Chair, Barbara Humpton, Siemens and Vice Chair, Richard Chin, SK Global Development Advisors
     
  6. Subcommittee on Economic Competitiveness – 5 mins
    Chris Camacho, President and CEO, Greater Phoenix Economic Council
    Nancy McLernon, President and CEO, Global Business Alliance
     
  7. Subcommittee on Workforce – 5 mins
    Sandra Watson, President and CEO, Arizona Commerce Authority  
    Michael Graff, Chairman and CEO, American Air Liquide Holdings
     
  8. Subcommittee on SelectUSA 2.0 – 5 mins
    Christopher Chung, CEO, Economic Development Partnership of North Carolina
    Seth Martindale, Senior Managing Director Site Selection (FDI) and Economic Incentive Negotiation Lead, CBRE, Inc.
     
  9. Conclusion of Discussion with Questions and Answers – 15 minutes
    Chair Barbara Humpton, President and CEO, Siemens
    Vice Chair Richard Chin, Chairman and CEO, SK Global Development Advisors Inc.
     
  10. Discussion of Final Report – 20 minutes
    Chair Barbara Humpton, President and CEO, Siemens
    Vice Chair Richard Chin, Chairman and CEO, SK Global Development Advisors Inc.
     
  11. Closing Remarks – 5 Minutes
    Arun Venkataraman, Assistant Secretary of Commerce for Global Markets, and Director General of the U.S. and Foreign Commercial Service Global Markets
     
  12. Meeting Concludes 

Federal Register Notice

U.S. INVESTMENT ADVISORY COUNCIL (IAC) MEETING

Thursday, February 8, 2024, 1:30 - 3:00 P.M. ET

AGENDA

I.   Welcome Remarks – 5 Minutes
Arun Venkataraman, Assistant Secretary of Commerce for Global Markets, and Director General of the U.S. and Foreign Commercial Service Global Markets

II.   Opening Remarks – 5 Minutes 
Chair Barbara Humpton, President and CEO, Siemens      
Vice Chair Richard Chin, Chairman and CEO, SK Global Development Advisors Inc.

III.   Overview of Recommendations Adoption & Implementation – 20 Minutes 
Jasjit Singh, Executive Director, SelectUSA

IV.   Subcommittee Reports and Vote on New Recommendations – 20 Minutes
Facilitated by Chair, Barbara Humpton, Siemens and Vice Chair, Richard Chin, SK Global Development Advisors

  • Subcommittee on Economic Competitiveness – 5 mins
    Chris Camacho, President and CEO, Greater Phoenix Economic Council
    Nancy McLernon, President and CEO, Global Business Alliance
  • Subcommittee on Workforce – 10 mins
    Sandra Watson, President and CEO, Arizona Commerce Authority 
    Michael Graff, Chairman and CEO, American Air Liquide Holdings
  • Subcommittee on SelectUSA 2.0 – 5 mins
    Christopher Chung, CEO, Economic Development Partnership of North Carolina
    Seth Martindale, Senior Managing Director Site Selection (FDI) and Economic Incentive Negotiation Lead, CBRE, Inc.

V.   Conclusion of Discussion with Questions and Answers – 15 minutes
Chair Barbara Humpton, President and CEO, Siemens
Vice Chair Richard Chin, Chairman and CEO, SK Global Development Advisors Inc.

VI.   Discussion of Final Report – 20 minutes
Chair Barbara Humpton, President and CEO, Siemens
Vice Chair Richard Chin, Chairman and CEO, SK Global Development Advisors Inc.

VII.   Closing Remarks – 3 Minutes
Chair Barbara Humpton, President and CEO, Siemens
Vice Chair Richard Chin, Chairman and CEO, SK Global Development Advisors

VIII.   Closing Remarks – 2 Minutes
Arun Venkataraman, Assistant Secretary of Commerce for Global Markets, and Director General of the U.S. and Foreign Commercial Service Global Markets

IX.   Meeting concludes

The IAC advises the Secretary of Commerce on the development and implementation of strategies and programs to attract and retain foreign direct investment (FDI) in the United States. This meeting is open to the public. Anyone interested in attending must register in advance. For more information, please refer to the Federal Register Notice.

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U.S. INVESTMENT ADVISORY COUNCIL (IAC) MEETING

Thursday, October 26, 2023, 2:00 P.M. – 3:30 P.M. (EDT)

Location: Commerce Research Library, Washington DC (In-Person Meeting)

  1. Welcome Remarks – 2 Minutes
    Arun Venkataraman, Assistant Secretary of Commerce for Global Markets, and Director General of the U.S. and Foreign Commercial Service
     
  2. Opening Remarks – 3 Minutes
    Chair Barbara Humpton, President and CEO, Siemens
    Vice Chair Richard Chin, Chairman and CEO, SK Global Development Advisors Inc.
     
  3. Overview of Initial Recommendations Adoption & Implementation – 15 Minutes
    Jasjit Singh, Executive Director, SelectUSA
     
  4. Subcommittee Reports and Vote on New Recommendations – 30 Minutes
    Facilitated by Chair, Barbara Humpton, Siemens and Vice Chair, Richard Chin, SK Global Development Advisors

    Subcommittee on Economic Competitiveness – 10 mins

    Subcommittee on Workforce – 10 mins
    Sandra Watson, President and CEO, Arizona Commerce Authority
    Micheal Graff, Chairman and CEO, American Air Liquide Holdings

    Subcommittee on SelectUSA 2.0 – 10 mins
    Christopher Chung, CEO, Economic Development Partnership of North Carolina
    Seth Martindale, Senior Managing Director Site Selection (FDI) and Economic Incentive Negotiation Lead, CBRE, Inc.
     
  5. Discussion of Ongoing Subcommittee Work – 5 Minutes
    Facilitated by Chair, Barbara Humpton, Siemens and Vice Chair, Richard Chin, SK Global Development Advisors
     
  6. Briefing and Discussion on Visa Services – 25 Minutes
    U.S. Department of State
     
  7. Closing remarks – 5 Minutes
    Facilitated by Chair, Barbara Humpton, Siemens and Vice Chair, Richard Chin, SK Global Development Advisors
     
  8. Closing Remarks – 2 Minutes
    Arun Venkataraman, Assistant Secretary of Commerce for Global Markets, and Director General of the U.S. and Foreign Commercial Service
     
  9. Meeting concludes

Read the October 26, 2023 IAC Meeting Transcript.

U.S. INVESTMENT ADVISORY COUNCIL (IAC) MEETING 

Monday, May 1, 2023 4:30 P.M. – 6:00 P.M. (EDT) 

Location: Commerce Research Library, Washington DC (In-Person Meeting) 

I. Welcome Remarks – 3 Minutes  

  • Arun Venkataraman, Assistant Secretary of Commerce for Global Markets, and Director General of the U.S. and Foreign Commercial Service 

II. Opening Remarks – 6 Minutes 

  • Chair Barbara Humpton, President and CEO, Siemens       
  • Vice Chair Richard Chin, Chairman and CEO, SK Global Development Advisors Inc. 

III. Report of Initial Recommendations and Vote – 35 Minutes

  • Facilitated by Chair, Barbara Humpton, Siemens and Vice Chair, Richard Chin, SK Global Development Advisors 
  • Subcommittee on Economic Competitiveness – 10 mins 
  • Chris Camacho, President and CEO, Greater Phoenix Economic Council 
  • Nancy McLernon, President and CEO, Global Business Alliance 
  • Subcommittee on Workforce – 10 mins 
  • Brad Chambers, Secretary of Commerce, State of Indiana and CEO of Indiana Economic Development Corporation 
  • Subcommittee on SelectUSA 2.0 – 10 mins 
  • Christopher Chung, CEO, Economic Development Partnership of North Carolina 
  • Seth Martindale, Senior Managing Director Site Selection (FDI) and Economic Incentive Negotiation Lead, CBRE, Inc. 

IV. Discussion of Ongoing Subcommittee Work – 20 minutes 

  • Facilitated by Chair, Barbara Humpton, Siemens and Vice Chair, Richard Chin, SK Global Development Advisors 

V. Remarks from Secretary Raimondo – 3 Minutes 

VI. Discussion of Initial Recommendations with Q&A – 20 Minutes 

  • Facilitated by Chair, Barbara Humpton, Siemens and Vice Chair, Richard Chin, SK Global Development Advisors 

VII. Closing Remarks – 3 Minutes 

  • Jasjit Singh, Executive Director, SelectUSA  

VIII. Meeting concludes 

FEDERAL REGISTER NOTICE

Read the May 1, 2023 IAC meeting transcript.

U.S. INVESTMENT ADVISORY COUNCIL (IAC) MEETING

Tuesday, February 14, 2023 1:30 P.M. – 3:00 P.M. (EDT)

Virtual Webex Meeting

I. Announcement of Meeting into the Record – 2 Minutes

  • Rachel David, Designated Federal Officer

II. Welcome and Roll Call – 8 Minutes

  • Chair Barbara Humpton, President and CEO, Siemens
  • Vice Chair Richard Chin, Chairman and CEO, SK Global Development Advisors Inc.

III. Opening Remarks – 5 Minutes

  • Arun Venkataraman, Assistant Secretary of Commerce for Global Markets, and
  • Director General of the U.S. and Foreign Commercial Service Global Markets

IV. Overview of Subcommittee Work Reported to the Secretary – 40 Minutes

Facilitated by Chair, Barbara Humpton, Siemens and Vice Chair, Richard Chin, SK Global Development Advisors

  • Subcommittee on Economic Competitiveness – 12 mins
    • Chris Camacho, President and CEO, Greater Phoenix Economic Council
    • Nancy McLernon, President and CEO, Global Business Alliance
  • Subcommittee on Workforce – 12 mins
    • Mike Graff, Chairman/CEO, American Air Liquide Holdings Inc
    • Brad Chambers, Secretary of Commerce, State of Indiana and CEO of Indiana Economic Development Corporation
  • Subcommittee on SelectUSA 2.0 – 12 min
    • Christopher Chung, CEO, Economic Development Partnership of North Carolina
    • Seth Martindale, Senior Managing Director Site Selection (FDI) and Economic Incentive Negotiation Lead, CBRE, Inc.

V. Conclusion of Discussion with Questions and Answers – 30 minutes

  • Chair Barbara Humpton, President and CEO, Siemens
  • Vice Chair Richard Chin, Chairman and CEO, SK Global Development Advisors Inc.

VI. Closing Remarks – 5 Minutes

  • Jasjit Singh, Executive Director, SelectUSA

VII. Meeting conclude

FEDERAL REGISTER NOTICE

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U.S. INVESTMENT ADVISORY COUNCIL (IAC) MEETING

September 29, 2022 | 10:30 am – 12:00 pm ET | Washington, DC

Location: Washington, DC and WebEx – email IAC@trade.gov to register. 

I. Welcome – 5 Minutes
Arun Venkataraman, Assistant Secretary of Commerce for Global Markets and Director General of the U.S. and Foreign Commercial Service

II. Introductory Remarks – 10 Minutes
Gina M. Raimondo, Secretary of Commerce 

III. Introduction to SelectUSA and Overview of Department of Commerce FDI tools and programs – 15 Minutes
Jasjit Singh, Executive Director, SelectUSA

IV. IAC Introductions, Overview and Announcements – 30 Minutes
Arun Venkataraman, Assistant Secretary of Commerce for Global Markets and Director General of the U.S. and Foreign Commercial Service

V. Discussion – 15 Minutes

VI. Closing Remarks – 5 Minutes
Arun Venkataraman, Assistant Secretary of Commerce for Global Markets and Director General of the U.S. and Foreign Commercial Service

FEDERAL REGISTER NOTICE

Read the transcript from the September 29, 2022 IAC Meeting.

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U.S. INVESTMENT ADVISORY COUNCIL (IAC) MEETING

Wednesday, June 9, 2021, 12:30 P.M. – 1:30 P.M. (EDT)

Virtual Webex Meeting

I. Announcement of Meeting into the Record

II. Welcome and Roll Call
Chair Mark Beariault, General Counsel, Kudelski Group

III. Opening Remarks
Gina Raimondo, Secretary of Commerce

IV. Overview of Subcommittee Work Reported to the Secretary
Facilitated by Dale Tasharski, Deputy Director General of the U.S. & Foreign
Commercial Service

• Subcommittee on Economic Competitiveness
Chris Camacho, President and CEO, Greater Phoenix Economic Council and
 Mike Graff, Chairman/CEO, American Air Liquide Holdings Inc.

• Subcommittee on Workforce
Tom Dustman, International Sales Director, Sunnen Products Company

• Subcommittee on Strategic Communications Strategic Communications
Signe Pringle, Assistant Secretary, Maryland Department of Commerce

V. Discussion with IAC
Led by Diane Farrell, Acting Under Secretary for International Trade

VI. Closing Remarks
Diane Farrell, Acting Under Secretary for International Trade

VII. Meeting Concludes

FEDERAL REGISTER NOTICE

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U.S. INVESTMENT ADVISORY COMMITTEE MEETING

Thursday, September 10, 2020 10:00 AM – 11:30 AM

Virtual Teams Meeting

I. Welcome and Roll call – 5 Minutes
Chair Mark Beariault and Vice Chair Jennifer Springer

II. Welcome and Remarks – 10 Minutes
Ian Steff, Assistant Secretary of Global Markets and Director General of the U.S. and Foreign Commercial
Service

III. Remarks by Secretary Ross – 15 Minutes
Wilbur Ross, Secretary of Commerce

IV. Opening Remarks – 5 Minutes
Greg Kalbaugh, Executive Director, SelectUSA

V. Review of Agenda and Introduction of Workforce Subcommittee Report – 5 Minutes
Jennifer Springer

VI. Workforce Development Presentation and Discussion – 15 Minutes
Tom Dustman – International Sales Director, Sunnen Products
Jim Schellinger – Secretary of Commerce, State of Indiana

VII. Introduction of Strategic Communications Subcommittee Report
Mark Beariault

VIII. Strategic Communications Presentation and Discussion – 15 Minutes
Signe Pringle – Assistant Secretary, Maryland Department of Commerce
David Steel – Executive Vice President, Corporate Affairs, Samsung Electronics America

IX. Introduction of Economic Competitiveness Subcommittee and Discussion

X. Economic Competitiveness Presentation and Discussion – 15 Minutes
Chris Camacho – President and CEO, Greater Phoenix Economic Council
Mike Graff – Chairman and CEO, American Air Liquide Holdings, Inc.

XI. Conclusion of Discussion with Questions and Answers – 15 Minutes
IAC Chair Mark Beariault and Vice Chair Jennifer Springer

XII. Adjournment – 5 Minutes
Chair Mark Beariault

XIII. Meeting concludes 

FEDERAL REGISTER NOTICE

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U.S. INVESTMENT ADVISORY COMMITTEE MEETING

Tuesday, September 17, 2019 8:00 AM – 11:00 AM

Eisenhower Executive Office Building, Room 430
The White House

I. Welcome – 5 Minutes
Chair Mark Beariault and Vice Chair Jennifer Springer
Facilitated by Brian Lenihan, Executive Director, SelectUSA

II. Welcome and Remarks – 10 Minutes
Wilbur Ross, Secretary of Commerce

III. Introduction and Opening Remarks – 10 Minutes
Gil Kaplan, Under Secretary for International Trade

IV. Workforce Topic Introduction and Presentation – 10 Minutes
Dave Langdon, Sr. Policy Advisor, U.S. Department of Commerce
Workforce Discussion – 20 Minutes
Brian Lenihan, Facilitator

V. Regulatory and Tax Issues Introduction and Presentation – 10 Minutes
Brian Lenihan, Executive Director, SelectUSA
Regulatory and Tax Issues Discussion – 20 Minutes
Brian Lenihan, Facilitator

VI. Economic Competitiveness Introduction and Presentation – 15 Minutes
Liz Schaefer, Director of Investment Research, SelectUSA
Economic Competitiveness Discussion – 20 Minutes
Brian Lenihan, Facilitator

VII. Strategic Communications Introduction and Presentation – 10 Minutes
David Steel, Executive Vice President, Samsung
Strategic Communications Discussion – 15 Minutes
Brian Lenihan, Facilitator

VIII. Remarks and Discussion with Deputy Secretary – 10 Minutes
Karen Dunn Kelley, Deputy Secretary of Commerce

IX. Conclusion of Discussion with Questions and Answers – 15 Minutes
IAC Chair Mark Beariault and Vice Chair Jennifer Springer
Brian Lenihan, Facilitator

X. Adjournment – 5 Minutes
Chair Mark Beariault

XI. Meeting concludes – 11:00 AM

FEDERAL REGISTER NOTICE

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U.S. INVESTMENT ADVISORY COMMITTEE MEETING

Tuesday March 20, 2018
11:30 AM – 1:30 PM

Department of Commerce| Washington, DC

I. Welcome
 Chair Jane Garvey

II. Opening Remarks
Erin Walsh, Assistant Secretary for Global Markets and Director General of the Commercial
Service, U.S. Department of Commerce

III. Deliberation of Recommendation Letter & Next Steps
 Lead by Chair Jane Garvey

IV. Closing Remarks
The Honorable Secretary Wilbur Ross, U.S. Department of Commerce

V. Adjournment
Chair Jane Garvey

DOCUMENTS

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U.S. INVESTMENT ADVISORY COUNCIL MEETING

Thursday, May 11, 2017 | 9:30 – 11:30 AM

Department of Commerce| Washington, DC

I. Welcome
 Chair Jane Garvey and Vice Chair Catherine Smith

II. Opening Remarks
 The Honorable Secretary Wilbur Ross, U.S. Department of Commerce

III. A Perspective from the White House
 Jeremy Katz, Deputy Assistant to the President and Deputy Director of the National
 Economic Council, The White House

IV. Discussion of Priorities, Deliberation of Recommendation Letter,
 & Next Steps
 Lead by Chair Jane Garvey and Vice Chair Catherine Smith

V. Closing Remarks
 Fred Volcansek, Executive Director of SelectUSA, U.S. Department of Commerce

VI. Adjournment
Chair Jane Garvey

DOCUMENTS

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U.S. INVESTMENT ADVISORY COUNCIL MEETING

Monday, October 31, 2016 | 1:30 – 3:30 PM

Department of Commerce| Washington, DC

I. Welcome
Chair Jane Garvey and Vice Chair Catherine Smith

II. Opening Remarks
The Honorable Deputy Secretary Bruce Andrews, U.S. Department of Commerce

III. Deliberation of Recommendations
Chair Jane Garvey and Vice Chair Catherine Smith

  • Workforce Development Subcommittee, Jeffrey Wilson, Subcommittee Chair
  • Investment Ecosystem Subcommittee, Mani Iyer, Subcommittee Member
  • Investment Competitiveness Subcommittee, Eric Spiegel, Subcommittee Chair
  • Infrastructure Investment Subcommittee, Peter Lowy, Subcommittee Chair

IV. Reflections and Looking Ahead to 2017
Jason Miller, Special Assistant to the President and
Deputy Director of the National Economic Council, The White House
Ambassador Vinai Thummalapally, Executive Director of SelectUSA,
U.S. Department of Commerce

V. Council Priorities & Next Steps
Chair Jane Garvey and Vice Chair Catherine Smith

VI. Closing Remarks
Ken Hyatt, Acting Under Secretary for International Trade Administration, U.S.
Department of Commerce

VII. Adjournment
Chair Jane Garvey

DOCUMENTS

______________________________________

U.S. INVESTMENT ADVISORY COUNCIL MEETING

Tuesday, June 21, 2016 | 9:15 AM – 11:30 AM | EEOB 350

I. Welcome
Chair Jane Garvey and Vice Chair Catherine Smith

II. Opening Remarks
The Honorable Secretary Penny Pritzker,
U.S. Department of Commerce

III. Introductory Remarks
Jeff Zients, Director of the National Economic Council and Assistant
to the President for Economic Policy

IV. Administration Priorities for Foreign Direct Investment
The Honorable Deputy Secretary Bruce Andrews,
U.S. Department of Commerce

V. U.S. Government Briefings
Ambassador Vinai Thummalapally, Executive Director of SelectUSA
U.S. Department of Commerce

VI. Next Steps
Chair Jane Garvey and Vice Chair Catherine Smith

VII. Closing Remarks
Marcus Jadotte, Assistant Secretary for Industry & Analysis, U.S.
Department of Commerce

VIII. Adjournment
Chair Jane Garvey and Vice Chair Catherine Smith

DOCUMENTS

IAC Membership and Contact Information

About the Investment Advisory Council (IAC)

IAC CHARTER
FULL IAC CHARTER