Integrity • Tenacity • Clarity
[Speaker 1] (00:00:09)
Second official day of SelectUSA Investment Summit.
[Speaker 2] (00:00:12)
That’s great.
So anyhow, it is great meeting for networking.
And also we met several, many potential investors here in USA.
So we, ITC, will be a great partner to help future investors here in USA.
So you, Mark Dzeda, as a CEO, as a long-time champion in techs, you will be great worship for the Korean company and Asian company who tries to make investment here.
Okay. So can you add just a brief advice to the Korean company who tries to make investment here in USA?
[Speaker 1] (00:00:55)
Yes. I think the most important point to remember is you have leverage before you make your announcement and commitment.
Before you make your announcement and commitment is the time to go out, visit, negotiate with other counties, states, municipalities.
That’s the time to get the best deal.
You have to emphasize that location, site selection is very important to where you place the facility ultimately.
And when you do that, work closely with the economic development foundations and other people who are responsible for bringing in investment and jobs.
They will be more than glad to work with you.
Just make sure that you don’t over-promise or under-deliver.
Lock yourself into some terms that maybe are not acceptable or, you know, are a stretch that you’re not going to meet.
Because there are things like fallback provisions that you have to meet.
[Speaker 2] (00:01:46)
Great point. Great point.
Thank you for your comment.
Actually, you know, the Korean company and mostly Asian company, they have a little bit worry about, you know, tax office.
But actually here, the tax office, the president, district, county, or city government, it looks like they’re very friendly, right, for the investor.
[Speaker 1] (00:02:07)
I would say here in the States, the government offices that bring you in are always very friendly.
When you work with the counties and states, it depends on who you’re dealing with.
Most states in general are very friendly.
Some are more business-like than others.
I think some really reach out and seek to actively, like, say, Texas, places like Williamson County, other areas like, say, Georgia, Alabama, wherever you see a lot of Korean companies come in.
You know that those states and localities want your investment.
They want your jobs.
They know you’re a valuable resource to the community.
So I’d say, yes, the tax offices are very friendly.
Like I said, you just have to be very upfront with them and realize when you sign a contract to locate here, it’s also a commitment to be a good corporate citizen as well.
[Speaker 2] (00:02:58)
Excellent.
Yeah.
So the point is that the tax office here in the USA is very friendly and cooperative to the investor, to the Korean company, Asian company making investment and operations here.
Thank you.
Thank you.
And we prepare the next session, you know, in more detail.
Thank you.
[Speaker 1] (00:03:19)
Thank you.
You’re welcome.
