The CREDC joined the Washington State Department of Commerce and our economic development partners around the state at SelectUSA to promote Clark County to foreign companies looking to invest or expand in the United States. The summit included more than 2,500 participants from around the world. Several companies we met with had real projects and were actively seeking West Coast partners or sites.
In addition to the direct business connections, SelectUSA was a great reminder of the great blessing it is to do business in the United States. At the top of the list for any company looking to invest or expand is consistency (the ability to accurately assess risk) and having the ability to innovate new products and services. Despite all our challenges, the freedom and stability of the US market is a huge competitive advantage and continues to drive both domestic and foreign investment. During his keynote at the event, President Obama stated “No country has done more to build a culture of making and tinkering, and entrepreneurship and risk-taking, and of innovation and invention.” It is this spirit of innovation that will lead to the US playing a major role in solving global crises in Healthcare, Water, and Energy.
The other side of the coin is predictability and stability. We perhaps take for granted the guarantees provided by the US judicial system with regard to honoring contracts and ensuring a fair business environment. While it may not seem like we enjoy political stability and a consistent regulatory environment, the range of options that determine risk to a business are far more limited than in many developing and some developed markets. Our continued success will rely on current and future generations holding dear these principles of freedom, democracy, and innovation.
As we enter the Independence Day holiday weekend, I encourage you to take 15 minutes and listen to the comments by the President about why right now and right here is the best place in history to do business. Have a happy and safe Fourth of July!