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Blog Entries from May 3, 2010

Secretary Locke Highlights Importance of Tourism to U.S. Economy

Secretary Locke meets with press in Orlando to discuss travel and tourism.

U.S. Commerce Secretary Gary Locke held a town hall meeting at the University of Central Florida today to discuss the importance of the travel and tourism industry to the U.S. economy. The industry generates nearly $1.3 trillion for the U.S. economy and supports 8.2 million U.S. jobs. Locke also highlighted President Obama’s new Task Force on Space Industry Workforce and Economic Development, a $40 million effort to facilitate economic development along the Space Coast. Locke was joined by U.S. Sen. Bill Nelson and U.S. Reps. Suzanne Kosmas and Alan Grayson. (More) (Remarks)

Statement from Under Secretary Blank on March 2010 Personal Income and Outlays

Blank portrait.

Washington (May 3)—The U.S. Commerce Department’s Bureau of Economic Analysis released personal income and outlays data for March 2010. Personal income increased 0.3 percent in March, and real disposable personal income rose 0.2 percent. Real personal consumption expenditures increased 0.5 percent in March. “Today’s personal income data, particularly the growth in employee compensation, indicates that the recovery is taking hold across America,” said U.S. Commerce Department Under Secretary for Economic Affairs Rebecca Blank.” (More) (Release—PDF)

EDA Announces Competition to Bring Innovative Ideas to Market

The i6 Challenge Logo

The i6 Challenge is a new $12 million innovation competition administered by the Economic Development Administration (EDA) of the U.S. Department of Commerce, in partnership with the National Institutes of Health (NIH) and National Science Foundation (NSF). EDA will award up to $1 million to each of six winning teams with the most innovative ideas to drive technology commercialization and entrepreneurship in their regions. NIH and NSF will award a total of up to $6 million in supplemental funding to their SBIR grantees that are associated or partnered with the winning teams. (More) (Press release—PDF)