Trump Launches $1 Billion Plus Investment Fast Track with New Executive Order

The EO creates a new office within the Department of Commerce tasked with expediting and facilitating investments exceeding $1 billion in the United States. As described in the White House Fact Sheet, the Accelerator’s core mission is to support both domestic and foreign investment by improving coordination among federal agencies, reducing regulatory barriers consistent with applicable law and identifying mechanisms to streamline the investment process.

Overview of the Executive Order
The EO directs the Secretary of Commerce, in coordination with the Secretary of the Treasury and the Assistant to the President for Economic Policy, to establish the Investment Accelerator.

Its responsibilities include:

• assisting investors with navigating U.S. legal and regulatory systems;
• identifying ways to reduce regulatory burdens where consistent with law;
• accelerating permitting and approval processes for major investments;
• coordinating interagency responses to investor needs and regulatory obstacles;
• increasing access to federally controlled resources where appropriate;
• facilitating collaboration with U.S. national laboratories; and
• coordinating with state and local governments to improve the overall investment climate.

In practical terms, this directive suggests the creation of a centralized “one-stop shop” within the federal government for navigating the often-fragmented investment landscape. By embedding regulatory guidance, interagency coordination and permitting support under one roof, the Accelerator appears to be aimed at speeding up decision-making and reducing friction for large-scale investors. Further, the inclusion of increased collaboration with national labs and access to federally controlled resources in the Accelerator’s mission could indicate potential tech transfer opportunities, infrastructure or funding access that could provide additional value.

Scope and Eligibility
The EO defines the Investment Accelerator’s scope broadly, applying to investments exceeding $1 billion—regardless of industry or origin. This high threshold signals an intent to focus federal attention and resources on transformative projects, with the potential to significantly impact the U.S. economy, employment or technological leadership.

The inclusion of both domestic and foreign investors underscores the Administration’s emphasis on attracting global capital, though the specifics of eligibility—particularly for foreign entities—remain to be clarified. While the EO itself does not outline industry targets or investor exclusions, further guidance may introduce prioritization criteria, especially in sectors considered strategically important (e.g., advanced manufacturing, energy, biotech or defense-adjacent technologies).

The EO leaves open the possibility of additional eligibility filters, such as, for example, restrictions on investments from entities based in countries of concern, that may align with other Trump administration national security and economic competitiveness priorities.

Companies with capital-intensive U.S. projects—whether greenfield or expansion—should evaluate whether their plans may qualify for support under this framework. Projects that involve complex permitting, multijurisdictional approvals or significant regulatory interaction are likely to benefit most from the Accelerator’s intended role as a centralized navigator through the federal process.

Organizational Structure
The EO directs the Department of Commerce to establish the Investment Accelerator within 30 days, with additional implementation details likely to follow in the coming weeks.

According to the EO, the Accelerator will be led by an executive director, appointed by the Secretary of Commerce. Staffing will include legal, transactional and operational personnel necessary to carry out its mandate.

Role in CHIPS Program Oversight
The EO brings the CHIPS incentives program under the umbrella of the new Investment Accelerator—a move with potentially significant implications for current CHIPS awardees.

Enacted in 2022 during the Biden Administration, the CHIPS and Science Act allocated more than $52 billion to bolster U.S. semiconductor manufacturing, research and workforce development, with $39 billion directed to an incentive funding program for companies constructing or expanding semiconductor manufacturing facilities. By the end of the Biden administration, it is reported that approximately $30 billion in funding had been distributed via finalized funding awards to private companies.

The new EO places the CHIPS program office under the purview of the Accelerator, directing the Secretary of Commerce to renegotiate agreements made under the prior administration, with the goal of achieving “improved terms” for U.S. taxpayers. While the scope of this directive is not clear, it may signal a pivot toward more stringent deal terms for awardees—potentially including tougher compliance obligations, enhanced clawback provisions or stronger domestic job creation guarantees. Companies that have already entered into CHIPS agreements—or are planning to—should closely watch for any revisions or new guidance that could impact funding eligibility or award conditions.

Implications for Investors and Companies
While the order does not create new funding programs or tax incentives, it signals a deliberate shift in federal strategy to make it easier to deploy major capital. For qualifying investors, the Accelerator promises meaningful advantages, including:

• a centralized point of contact within the federal government;
• assistance in navigating federal permitting and regulatory procedures;
• coordinated access to agency expertise and public-sector resources; and
• streamlined communications with state and local officials.

At this early stage, the ultimate success of the Accelerator will depend on how the initiative is implemented in the months ahead. While the Investment Accelerator offers a potentially promising framework, similar efforts to coordinate permitting and cut red tape—such as FAST-41 and prior interagency task forces—have seen mixed success. The real test will be in implementation: whether the Accelerator has the authority, staffing and political backing to meaningfully influence the myriad regulations that impact large-scale investments. Coordination across federal, state and local jurisdictions remains a persistent challenge for large-scale projects.

In parallel, Congress is also considering broader legislative efforts to reform environmental and infrastructure permitting. Although the Administration can streamline certain federal processes through executive action, many of the most time-consuming permitting requirements are rooted in statutory mandates, like the National Environmental Policy Act (NEPA) or the Clean Water Act, which require congressional action to amend. As such, while the Trump administration is expected to implement measures to streamline the NEPA process, the Accelerator’s impact may be significant, but not comprehensive, without parallel legislative reform. How these efforts will interact remains to be seen, and companies will need to watch closely as developments play out.

In the meantime, with the Department of Commerce expected to stand up the Accelerator within 30 days, there are steps companies can take now to prepare:

• Evaluate current or future U.S. investment plans to determine whether they exceed the $1 billion threshold and would benefit from federal engagement;
• Monitor Department of Commerce announcements about the Accelerator’s leadership and structure;
• Compile relevant documentation—such as regulatory timelines or permitting roadblocks—to support engagement;
• If applicable, assess existing CHIPS agreements, for potential renegotiation under the new framework; and
• Designate internal leads to interface with the Accelerator as it becomes operational.

The order establishing the United States Investment Accelerator represents a procedural reform intended to make the United States a more attractive destination for billion-dollar-plus investments. By enhancing coordination, accelerating permitting and streamlining regulatory processes, the Administration aims to supercharge private capital deployment into the American economy.

Early engagement with the new office could offer a strategic edge—particularly for projects navigating complex federal and state landscapes. Pillsbury’s Emerging Companies and Venture Capital, International Trade, and Government Law & Strategies teams are available to assist companies in evaluating eligibility, preparing for outreach and positioning projects to take advantage of this new federal initiative.