NATIONAL HARBOR, MD (WENY News) -- Each year, the U.S. Department of Commerce hosts the SelectUSA Investment Summit. The tenth annual summit is taking place this week just outside of our nation's capital.  

It’s one of the highest profile events in the U.S. for facilitating business investments. It connects thousands of investors, companies and economic development organizations to make deals happen.  

“We like to think of this as like the Super Bowl of economic development,” said Daniel Clark, the Director of Business Development at the New York City Economic Development Corporation. 

The Investment Summit is an opportunity for states to connect with, and appeal to, foreign companies and investors.  

“Everyone's here. We have thousands of companies from around the world. We also have a number of site selectors that help them make decisions here, we have a number of service providers, we have all the trade consulates and we have all the states that we’re essentially competing against,” said Clark, who is spending the week showing companies and investors from around the globe just how special New York is. 

"We have a culture of openness, we're open to business. I think from an international perspective, people really do see us as business friendly and a place where you can kind of make your dreams come true,” said Clark. 

More businesses could mean more jobs upstate and across the Southern Tier, which are prime areas for manufacturing. 

“But a lot of these companies have manufacturing capabilities that they can't necessarily find in New York (City). So we're sending them up to places like the Syracuse area, like Onondaga County, like the Southern Tier,” said Clark. 

The Summit is hosted by the Department of Commerce, which works with U.S. embassies across the globe to bring companies interested in the U.S. market to this annual event.  

“We hope to get in front of these companies that are thinking about investing in the United States and convince them that Pennsylvania ought to be on their shortlist of places to consider,” said Jason Hunt, the Director of International Business Attraction for the PA Department of Community and Economic Development.

“We want foreign companies to bring their money to Pennsylvania rather than to one of our neighboring states. And we want them to employ people in Pennsylvania, pay taxes. That's good for state government. That's good for communities all across the Commonwealth of Pennsylvania,” Hunt added. 

According to SelectUSA, since the investment summits first started, they have attracted thousands of international companies, generated over $100 billion in new investment projects and over 85,000 jobs across the United States and its territories.