By Jeffrey Sparshott
WASHINGTON--President Barack Obama on Tuesday asked top
corporate executives for advice on attracting more investment to
the U.S., a meeting set as part of a broader push to highlight the
administration's efforts at job creation.
"We don't always do what it takes to go after business around
the world and make sure that they know the benefits of investing in
the largest market on earth," Mr. Obama said, citing low energy
costs and a productive workforce. The Tuesday morning meeting
included executives from a mix of U.S. and foreign-based companies
that recently have announced plans to expand their presence in the
U.S.
Mr. Obama and top economic officials also announced plans for a
SelectUSA summit in March 2015 in Washington, the continuation of a
three-year-old federal effort aimed at bringing job-creating
investments to the U.S. while helping companies navigate the
federal government.
The White House is launching its effort to underscore growth and
job creation as polls continue to show the public's persistent
unease about the economy. And while the president is shining a
spotlight on companies that are investing in the U.S., other
corporations are establishing legal residency overseas in an effort
to avoid paying U.S. taxes on repatriated earnings.
The U.S. economy has added jobs for 43 consecutive months,
though progress has been uneven and the unemployment rate remained
at an elevated 6.3% last month.
Mr. Obama noted the economy's headway since the recession ended
and thanked the 11 executives from American and overseas companies
for investing in the U.S. "We want to make sure that we are doing
everything we can to be responsive to that process," Mr. Obama
said.
According to the White House, the 11 executives at the meeting
were: Michael Araten, president and CEO, K'Nex; Karen Bomba,
president and CEO, Safran's Morpho Detection; Mike Foley, CEO North
America Commercial, regional chairman of North America, Zurich
Insurance Group; Ravila Gupta, president, Umicore USA; Joe
Hinrichs, executive vice president and president of the Americas,
Ford Motor Co.; Peder Holk Nielsen, president and CEO, Novozymes;
Dr. Sanjay K. Jha, CEO, GLOBALFOUNDRIES Inc.; Byeong Jin Lee,
senior vice president and COO, Hankook Tire; Michael Penner,
president, Richelieu; Angel Ruiz, president and CEO, Ericsson North
America; Carsten Spohr, chairman and CEO, Deutsche Lufthansa
AG.
Write to Jeffrey Sparshott at jeffrey.sparshott@wsj.com
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