Obama signs initiative to promote business in U.S.

WASHINGTON — President Barack Obama has issued an executive order setting up a government project to retain and attract business to the United States.

The program will be run out of the Commerce Department but will involve departments and agencies across the government to promote the United States as a hospitable place for investment.

The effort comes as Obama tries to emphasize job creation in the face of 9.1 percent unemployment and sluggish economic growth.

According to the order, the cost of the program will be paid out of the Commerce Department’s existing budget. A working group made up of senior officials from throughout the executive branch will coordinate promotion activities and address business concerns.