President Barack Obama is to tout investment opportunities on Thursday when he announces Washington is expanding its efforts to entice foreign firms to bring jobs to the United States, administration officials said.
Officials said the United States would start to coordinate efforts at the federal level to attract investment in a way it has not before. Until now, states and cities have been responsible for making pitches for business from abroad.
"It's not a level playing field for a mayor of one of our cities to have to compete against the prime minister or head of state of a major industrial power," White House National Economic Council Director Gene Sperling told reporters.
Obama is due to make the announcement in a speech to a SelectUSA investment conference with business representatives from around the world, officials said.