Bødskov & Leventhal Leading Delegation to USA
From May 1-4, U.S. Ambassador Alan Leventhal together with Morten Bødskov, Minister for Industry, Business and Financial Affairs will be leading a delegation of Danish businesses to the 2023 SelectUSA Summit in Washington D.C.
Hosted by the U.S. Secretary of Commerce Gina Raimondo, the SelectUSA Investment Summit is the premier event for international companies looking to locate or expand their business in the United States.
Capitalizing on the IRA
The focus of this year’s Summit is clearly to capitalize on USA’s green transition process on the background of the biggest climate bill in U.S. history, the Inflation Reduction Act (IRA). This $750 billion bill was signed into law by President Biden in August 2022 and is a milestone in U.S. efforts to combat climate change.
The IRA is all about promoting clean energy production and manufacturing, reducing carbon emissions, providing energy security, and combating the climate crisis through various financial incentives for corporations and consumers, i.e., investment tax credits, clean fuel production credits, and manufacturing credits for solar and wind components. It is projected to cut carbon emissions by approximately 40% by 2030.
Denmark in the U.S.
Danish companies already have a growing presence in the U.S. – both in terms of FDI and jobs.The U.S. continues to be Denmark’s largest export market – ahead of both Germany and Sweden – and the IRA will undoubtedly enhance this development.
The IRA touches the sectors where Denmark has strongholds in the US, i.e., healthcare, renewable energy (wind and solar), biogas, water etc. Therefore, the opportunities are huge in the coming years and will be helped immensely by further public-private agreements between Denmark and the US which this business delegation will be the start of.
AmCham at SelectUSA
AmCham’s Stephen Brugger and Einar Dyrhauge will be joining the delegation and assisting member companies to navigate the comprehensive program. AmCham members companies participating include CIP, Danfoss, FLSmidth, ISS, Nature Energy, Novozymes, Ørsted, Topsoe, UXV Technologies and Vestas.