TIME Economy

Obama Pushes U.S. Investment Opportunities

US President Barack Obama hosts SelectUSA summit
Anadolu Agency—Getty Images U.S. President Barack Obama speaks at the SelectUSA Investment Summit on Oct. 31, 2013, in Washington, D.C.

With efforts to boost the economy foundering in a divided Congress, the President is taking an Executive initiative to encourage job creation

President Barack Obama will promote investment opportunities in the U.S. on Tuesday, hosting a summit at the White House with business leaders to encourage more job-creating projects.

According to the White House, Obama will meet with executives from Ericsson, Ford, GlobalFoundries, Hankook Tire, K’Nex, Lufthansa, Novozymes, Richelieu, Umicore, Zurich Insurance and other companies that have made investments in the U.S.

The meetings come as the Administration releases a report on existing efforts to promote investment, including SelectUSA, an Obama-backed program designed to market the U.S. to overseas investors while helping them navigate federal, state and local regulations.

The White House credits the program with helping to bring in $18 billion in investments to the U.S. and plans another SelectUSA summit in Washington next spring.

The latest push comes as Obama looks for ways to use his Executive authority to boost the economy at a time when other efforts have been stymied by a divided Congress.

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