Thaindian News

Washington, Aug 26 (IANS) Highlighting Tata investments in the United States, a top US official has stressed the importance of foreign direct investment (FDI) to create jobs and economic growth in the United States.

“In order to create all the jobs we need, we have to attract more businesses to our shores and do more to keep great US firms here,” acting US Commerce Secretary Rebecca Blank said during a visit Thursday to Thomas Steel Strip, a unit of Tata Steel, in Warren, Ohio.

“That’s why SelectUSA was created. It’s the first government-wide initiative to attract and retain new business investment - investment such as Tata Steel - and the jobs that come with it, in the United States,” she said.

“SelectUSA is vital to help more businesses grow and create long-lasting economic value in the US.”

“Tata Steel’s obvious commitment to Thomas Steel Strip for its long-term future as well as Tata’s commitment to the local communities here in Warren, Youngstown and around the country makes us the perfect choice,” said Thomas Steel Strip President and Chief Executive Officer William Boyd.

“The investments that Tata Steel and other Tata companies have made in the US are indicative of the potential in this market for non-US companies who recognize the opportunity that exists in both the US manufacturing and service sectors,” he said.

Thomas Steel Strip manufacturing facility produces electroplated cold-rolled strip used in the casings of consumer batteries, automotive parts and other applications, according to a Tata Steel press release.

Tata Steel is a part of the Tata group of companies, which includes 12 companies and more than 22,000 employees in the United States and Canada.

(Arun Kumar can be contacted at arun.kumar@ians.in)