By Justin Sink - 05/20/14 12:51 PM EDT
President Obama on Tuesday asked business executives visiting the White House to help the government find new ways to attract global investment in the United States.
"And we want to be more systematic about it. We want to make sure that the federal government is working in sync with state and local governments when it comes to locating businesses here in the United States."
Executives at the meeting included representatives from Ford, Swedish cellular firm Ericsson, and German airliner Lufthansa, among others.
The president said the U.S. could offer low energy costs and an "incredibly productive" workforce to multinational corporations.
Obama also announced that the White House would hold a summit intended to attract foreign business investment next March. According to the White House, its SelectUSA investment program has attracted more than $18 billion in business investments and helped nearly 500 businesses in the past six months.
"This is a terrific venue for us to learn from some outstanding companies," Obama said.
On Thursday, the president will tout international tourism during a trip to the Baseball Hall of Fame in Cooperstown, N.Y.