RISMedia's Real Estate Magazine

AUG 2019

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

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RISMedia's REAL ESTATE August 2019 13 {Policy Matters} T he sixth annual SelectUSA Investment Summit, host- ed by the U.S. Department of Commerce, was held in Washington, D.C., from June 10 - 12. This event brings together for- eign investors, economic develop- ment organizations from around the country, government leaders and C-suite business executives, all to promote and facilitate foreign direct investment in the United States. The 2019 Summit also, for the first time, welcomed industry groups to participate in the conference, and the National Association of REAL- TORS® (NAR) attended and repre- sented the real estate industry. More than 3,000 participants at- tended the 2019 Summit, including foreign investors from 79 interna- tional markets and economic devel- opment organizations from 49 states and territories. The Summit features many networking opportunities, in- cluding "matchmaking" sessions between international companies and key participants, based on their companies' needs. Investors could mingle with tech startups, state and local government representatives, trade associations and executives from companies including Siemens, Royal Dutch Shell and Intel. Throughout the Summit, speak - ers and events highlighted the di- verse economic and trade benefits of investing in the U.S. There were several "State of the Industry" ses- sions featuring experts from various industries—including solar and wind energy, chemistry, consumer technol- ogy, travel and tourism, and real es- tate. Dr. Lawrence Yun, NAR's chief economist and senior vice president of Research, presented the "State of the Industry: Real Estate" to a packed room of interested inves- tors. He spoke about market trends in real estate—both residential and commercial—and highlighted NAR's robust research products. Though it was only one of the many industry sectors represented at the Summit, real estate was a hot topic, as well as a through-line connecting several issues that were addressed, such as infrastructure investment, rural development, manufacturing, and many others. For these internation - al companies to come to the U.S., or expand their existing operations here, they may need land, offices or factories—in addition to housing for their workforces. The Summit drew several notable speakers, including Wilbur Ross, secretary of the U.S. Department of Commerce; Ben Carson, secretary of the U.S. Department of Housing and Urban Development; Larry Kud - low, assistant to the president for Economic Policy and director of the National Economic Council; and Ste- ven Mnuchin, secretary of the U.S. Department of the Treasury. Across the board, the theme was clear: The Administration, and the International Trade Administration (ITA) (a part of the Department of Commerce), are committed to bringing more foreign direct investment into the U.S., and stressed that the economy and trade conditions are positive for that right now. This includes not just attract - ing new investment, but also bring- ing operations back to the U.S. and expanding existing operations, which is the goal of the "ReSelectUSA" initiative run by the ITA. In that vein, SelectUSA released its case study report on reshoring in the U.S. dur- ing the Summit: "Reinvesting in the USA: A Case Study of Reshoring and Expanding in the United States." The 2019 Summit was a suc- cess; nearly $100 million in new investment projects was announced during the event, and more than 65 international companies signed the "Pledge to America's Workers," committing to creating more than 900,000 workforce development opportunities for American workers. These 2019 additions build upon the $103.6 billion in investment projects that past participants in the Summit have announced within five years of attending the Sum - mit, which will create or retain over 167,000 American jobs. The Sum- mit provides an excellent chance for real estate professionals looking to connect with foreign investors and other industry sectors, and the po- tential to result in new deals and lu- crative business opportunities. RE For more information on the SelectUSA Investment Summit, please visit www.selectusasummit.us. Erin Stackley, Esq., is the senior representative for Commercial Legislative Policy/Federal Policy and Industry Relations, the National Association of REALTORS®. Real Estate a Hot Topic at 2019 SelectUSA Investment Summit This column is brought to you by the NAR Real Estate Services group. by Erin Stackley

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