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Blog Entries from July 25, 2013

How EDA is Supporting Critical Infrastructure in a Missouri City

Perryville Industrial Park sign

One of the ways to ensure that America creates an economy that supports good middle-class jobs is by building critical infrastructure that businesses need to thrive and grow. Commerce's Economic Development Administration (EDA) has been at the forefront of such efforts, most recently in Perryville, Missouri, where it is joining with the state of Missouri and local authorities to help pay for improved road access to the Perryville Industrial Park.

Industrial parks are the economic lifeblood of many communities, particularly smaller ones. The Perryville Industrial Park is an excellent example of this, being home to an impressive roster of companies that provide good jobs for residents of Perryville and its surrounding Perry County. These include TG Missouri, a manufacturer of automotive components and a supplier to such companies as Toyota, and Robinson Construction, a specialized builder of industrial and manufacturing facilities.

Commerce's NIST Awards 13 Companies with 2013 Small Business Innovation Research Funding

NIST campus sign

The Commerce Department's National Institute of Standards and Technology (NIST) announced today that more than $2.3 million in funding for Phase I and Phase II Small Business Innovation Research (SBIR) projects will be awarded to 13 U.S. small businesses. The awards provide funding to help develop manufacturing and cybersecurity technologies that could lead to commercial and public benefit. 

"We congratulate the companies selected out of the numerous high-quality proposals we received," said Under Secretary of Commerce for Standards and Technology and NIST Director Patrick Gallagher. "The SBIR program provides a great way to foster technological innovation at small businesses and help keep America innovative and competitive."

NIST's SBIR program seeks to stimulate technological innovation in the private sector, especially at minority and disadvantaged firms, strengthen the role of small business in meeting federal research and development needs and increase commercialization of federal research and development.

SBIR awards are funded through a competitive, three-phase process. In Phase I, small businesses can receive up to $90,000 to establish the technical merit, feasibility and commercial potential of the proposed research and development. Phase I awardees compete for Phase II funding of up to $300,000, enabling them to continue their efforts. Phase III involves commercial applications of the newly developed technologies, with funding from outside the SBIR program.

Global Investment is Important to the American Economy

The Department of Commerce is Open for Business

Guest blog post by Secretary of Commerce Penny Pritzker

Since I was confirmed as Secretary of Commerce, I’ve been meeting with business leaders, entrepreneurs, and foreign leaders to let them know that America is “open for business.” The United States is one of the most desirable places to do business; our $16 trillion economy, with its productive workforce and diverse consumer base, could not do what it does without domestic as well as foreign investment. Yesterday, I participated in the White House Forum (Forum) on Global Investment to highlight the administration’s support for, and benefits of, foreign direct investment (FDI) in the United States. 

For the meeting, I was joined by Acting Deputy Secretary of Commerce Pat Gallagher, Under Secretary of Commerce for International Trade Francisco Sánchez, Assistant Secretary of State for Economic and Business Affairs Jose Fernandez, and 21 foreign ambassadors and representatives to highlight the United States’ whole-of-government approach to attracting foreign direct investment.

Part of our discussion focused on the growth of FDI in sectors such as manufacturing, machinery, and scientific and technical services. In fact, FDI in the United States totaled nearly $168 billion last year. And just recently, the consulting firm A.T. Kearney published its annual FDI Confidence Index, with the United States ranked #1 on this list for the first time since 2001.