President Donald Trump signed an executive order on Monday to establish a new office within the Department of Commerce to accelerate and facilitate investments of more than $1 billion in the U.S.
Within 30 days, the EO directs the secretary of commerce to coordinate with the secretary of the treasury and the assistant to the president for economic policy to create the U.S. Investment Accelerator office within the Commerce Department to encourage businesses to make large investments in the country.
What Is the Purpose of the Investment Accelerator?
In a fact sheet published Monday, the White House said the Investment Accelerator will help reduce regulatory burdens; speed up the permitting process; coordinate responses to investor issues across federal agencies; boost access to national resources; facilitate collaboration with national laboratories; and work with all 50 state governments and their economic development organizations.
The accelerator will also administer the CHIPS Program Office and help negotiate better CHIPS Act deals.
An executive director will lead the Investment Accelerator, which will be staffed with legal, operational, transactional and support personnel to help identify existing mechanisms and opportunities in federal law that can be used to assist local and foreign investors while protecting national security.
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