Commerce Secretary In Germany To Court Investment In U.S.



Published on 26 November 2013

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by Office of the Spokesperson

(WireNews+Co)

Washington, D.C.

Secretary Pritzker Tours BMW And Fraunhofer-Gesellschaft
Secretary Pritzker Tours BMW And Fraunhofer-Gesellschaft

U.S. Secretary of Commerce Penny Pritzker traveled to Munich November 22, where she met with business leaders and promoted SelectUSA, an initiative to attract more foreign investment in the United States.

To start the day, Pritzker co-hosted a coffee reception with U.S. Consul General Bill Moeller to have a dialogue with German investors. She gave remarks on investing in the United States and the importance of the U.S.-German relationship.

Afterwards, Pritzker toured the training facilities at BMW’s headquarters. At BMW, she learned from BMW CEO Norbert Reithofer and Head of Apprentice Training Jan Eggert about how the company implements the German dual system of vocational training, through which students receive a technical degree while participating in on-the-job training.

BMW has a unique apprenticeship program, which is currently training 4,500 apprentices worldwide, some of them at their Spartanburg, South Carolina, plant, where 70 apprentices are training for BMW careers.

Pritzker then visited Fraunhofer-Gesellschaft, otherwise known as the Fraunhofer Insitute, which carries out results-oriented research with applications for industry and benefits to the rest of society. With a workforce of more than 22,000 scientists and engineers, the institute is Europe’s biggest organization for applied research. The organization’s research focuses on the needs of people in the areas of health care, security, communication, mobility, energy and the environment.

At her final stop of the day, Pritzker visited iwis Motorsysteme, a family-owned company that is making investments in the United States. Foreign direct investment is a major pillar of Pritzker’s new “Open for Business Agenda,” and iwis, a leading supplier of automotive products used in a variety of engines and vehicles, has several facilities in the United States.

Operations have recently begun at iwis’ newest facility in Murray, Kentucky, which accounts for a $12.5 million investment and will employ 75 people when fully operational.

Pritzker’s visit underscores the Department of Commerce’s commitment to promoting the U.S.-German economic relationship.

For more on investing in the United States, see the SelectUSA website.

 


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Posted 2013-11-26 08:30:00