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Statement from U.S. Commerce Secretary Penny Pritzker on Significant New Investment In The Commonwealth of Puerto Rico By Lufthansa Technik

Press Release

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Today, U.S. Secretary of Commerce Penny Pritzker issued the following statement on Lufthansa Technik's announcement of a significant new investment in the Commonwealth of Puerto Rico. Lufthansa Technik plans to break ground on a new aviation maintenance, repair and overhaul facility, which will service short-haul and medium-haul aircraft. SelectUSA, the U.S. government-wide program housed within the Department of Commerce to facilitate investment on behalf of state and local economic development organizations, coordinated with several federal agencies to provide the needed assistance to secure the agreement.

"We're thrilled that Lufthansa Technik selected the Commonwealth of Puerto Rico for their latest airline maintenance, repair and overhaul facility. Clearly, Lufthansa Technik knows what a growing number of global companies are realizing: There has never been a better time to invest in America. In fact, the Commerce Department recently released new data showing that foreign direct investment into the United States and our territories rose from $160.6 billion dollars in 2012 to $187.5 billion dollars in 2013.

"I believe that the key to successfully investing in the United States is partnership. And this deal between the Commonwealth of Puerto Rico and Lufthansa Technik provides an excellent case study for building strong partnerships. Governor García Padilla and his team put a tremendous amount of work into winning this investment, and I'm confident they'll continue to be a great partner for Lufthansa. Thank you to Vice President Biden; the team at SelectUSA; and our colleagues across government for working hard, working fast, and working together to make the strong case for investment in the United States.

"What this deal shows is our investment climate is strong, and my message to businesses around the world is clear: America is Open for Business. At the Commerce Department, we are committed to work at the pace of business to provide the services that companies need to invest and create jobs in the United States."

With the support of Vice President Biden, the White House National Economic Council, and the President's Task Force on Puerto Rico, the SelectUSA team at the U.S. Department of Commerce worked with the Puerto Rico team to offer Lufthansa information and assistance from across federal agencies and departments that not only assisted in making their decision but demonstrated why the United States is the top destination for foreign direct investment.

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