Obama to plug US investment to business leaders

President Barack Obama with Secretary of Commerce, Penny Pritzker.
Andrew Harrer | Bloomberg | Getty Images
President Barack Obama with Secretary of Commerce, Penny Pritzker.

President Barack Obama will gather executives from several major international companies including Ford Motor and Deutsche Lufthansa on Tuesday to discuss a White House initiative to encourage investment in the United States.

The White House says the program, SelectUSA, has assisted in winning more than $18 billion in business investments in 17 states and territories.

Obama, Commerce Secretary Penny Pritzker and other economic advisors will join the executives in a discussion about their U.S. investments.

"These businesses have recognized the many advantages of locating, growing and hiring in the United States," said Jeff Zients, director of the White House National Economic Council, in a conference call with reporters on Monday.

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"We will discuss why they chose to invest and hire in the U.S. and how we can get even more investment from companies like theirs."

Other companies involved include Swedish telecom supplier Ericsson and Zurich NA, a subsidiary of Switzerland's Zurich Insurance, according to the White House.

— Reuters