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Blog Entries from June 27, 2013

Penny Pritzker Sworn in as 38th U.S. Secretary of Commerce

Pritzker greeted employees as they entered the Herbert C. Hoover Building

Penny Pritzker was sworn in yesterday as the nation’s 38th Commerce Secretary. As a key member of President Obama’s economic team, Secretary Pritzker will lead the U.S. Department of Commerce in carrying out the important work that gives entrepreneurs and businesses the tools they need to create jobs and keep the American economy growing, two of the administration’s highest priorities. She will also work extensively with the business community, bringing their concerns and ideas to the forefront.  

“I am pleased the Senate took bipartisan action to confirm Penny Pritzker as our next Commerce Secretary,” said President Obama. “Penny is a proven leader, a successful entrepreneur, and one of the most accomplished and highly-respected women in business today. She knows what it takes to build companies from the ground up, and she shares my belief in doing everything we can to help businesses and workers succeed and make America a magnet for good jobs. Penny will be a key member of my economic team as we continue to work to grow our economy and strengthen the middle class.” 

“It is an honor to join President Obama’s economic team as Secretary of Commerce,” said Secretary Pritzker. “The Department of Commerce provides many unique assets that are critical to strengthening our economy, creating jobs, and ensuring America’s competitiveness–from support for manufacturing and exports, to the promotion of innovation, to the economic data that startups and businesses rely on. Our Department stands ready to serve as an active partner to the business community as we work together to continue building a 21st century American economy.”  Background

EDA Investments: Supporting Entrepreneurship and Job Creation

Map of U.S. showing entrepreneurship rates

What do the states of Montana, Vermont, New Mexico, Alaska, and Mississippi have in common? They are, according to a report published this spring by the Kauffman Foundation, Index of Entrepreneurial Activity, 1996–2012, the states that posted the highest rates of entrepreneurial activity in 2012.

According to the Kauffman Foundation report:

• Montanans operate 530 businesses per 100,000 adults, Vermonters and New Mexicans operate 520 businesses per 100,000 adults, and Alaskans and Mississippians operate 430 businesses per 100,000 adults.

• A most important measure—the formation of businesses with employees—held steady from 2011 to 2012: At 0.11 percent (meaning 11 employer businesses per 100,000 individuals), an average of 193,000 new employer businesses were formed each quarter in 2012.

This is important, and good, news about our economy. And these states should be applauded for what they are doing to foster entrepreneurship, which is a driver of economic growth and prosperity.

Support for entrepreneurship is a central part of the Economic Development Administration’s mission as it works to establish a foundation for sustainable job growth and the building of durable regional economies throughout the United States.

Spotlight on Commerce: Ronald Lorentzen, Deputy Assistant Secretary for Import Administration, ITA

Photo of Lorentzen at his desk

Ed. note: This post is part of the Spotlight on Commerce series highlighting members of the Department of Commerce and their contributions to an Economy Built to Last.

Guest blog post by Ronald Lorentzen, Deputy Assistant Secretary for Import Administration, International Trade Administration

As the career official responsible for the day-to-day management of Import Administration, I perform many roles: making the budgetary ends meet; acting as policy adviser plenipotentiary; being an “executive sponsor” of various projects; and serving frequently as a diplomatic counselor or empathetic ear to our organization’s staff and external stakeholders.

Import Administration’s core mission is to administer our nation’s antidumping and countervailing duty laws, which provide a remedy–typically, via a special import tariff–to help U.S. industries that are injured as a result of unfairly traded imports.  These remedies are determined through quasi-judicial investigations conducted under the close scrutiny of the courts and the World Trade Organization. While the process is sanctioned by international trade rules and receives broad support from the Congress, the outcome of any given investigation can displease the domestic industry, the foreign exporters, the foreign government(s) and–in many cases–all of the above. You have to have a thick skin to do my kind of work. But the work itself can be intellectually fascinating, impinging upon some of the most controversial trade policy issues and of make-or-break importance to the survival of many U.S. businesses and the livelihoods of many Americans.

How did I get here? I was born in northeastern Ohio and grew up in Indiana and Illinois, graduating from Bradley University in Peoria, IL, with a B.A. in French and international relations. I had no clue when I was in high school that one could specialize in such a field, but I think that my sense of being “different” led me to explore that possibility and the options that it might present. That led to a junior year of college at the Sorbonne in Paris, which in turn convinced me that I must continue in this field and find another chance at further study abroad. I was accepted by the Johns Hopkins School of International Studies M.A. program and packed my bags for a year at SAIS’s center in Bologna, Italy, with my second year bringing me to Washington–my home ever since. I can see more clearly now that my scholarly interests spoke to the calling that I had to understand and interact with people of different cultures, but the experience of living abroad was profoundly transformative in liberating me from my own, often self-imposed limitations as a gay man.