Commerce.gov is getting a facelift soon. See the new design.
Syndicate content

Blog Category: Economy

U.S. Tourism is Big Business at International Pow Wow

Chart showing growth in travel and tourism

Guest blog post by Francisco Sánchez, Under Secretary of Commerce for International Trade

The U.S. Travel Association’s International Pow Wow is the travel industry’s premier international marketplace and the largest generator of USA travel.

The three-day event is action-packed and filled with pre-scheduled business appointments, with more than 5,000 attendees expected and international and domestic buyers and representatives from more than 70 countries will be attending. The business negotiations that take place result in the generation of more than $3.5 billion in future USA travel.  In other words, Pow Wow is a big deal. 

We at the Commerce Department have enjoyed a close relationship with Pow Wow for years and added the conference into the Department’s International Buyer Program in 2011. The International Trade Administration (ITA) recruited qualified buyers from all over the world to attend Pow Wow.  There are currently 1,135 international buyer delegates, including delegations from emerging markets like China and the Czech Republic, and 1,047 U.S. companies registered for the show this year.

EDA Helps Launch Jobs and Innovation Accelerator Challenge to Promote Regional Growth, Competitiveness

Unprecedented initiative leverages resources of 16 federal agencies to create jobs and economic prosperity

UPDATE: Read Gene Sperling and Ginger Lew's post on this subject on the White House blog.

The Commerce Department’s Economic Development Administration (EDA), along with 15 other federal agencies within the Obama Administration, today announced a $33 million Jobs and Innovation Accelerator Challenge to drive innovation-fueled job creation and global competitiveness through public-private partnerships in at least 20 regions around the country. 

The Challenge will award funds to regions with high-growth industries that support a wide range of economic and workforce development activities.

The Department of Labor’s Employment and Training Administration will invest up to $20 million for technical skills training; EDA will invest up to $10 million in Economic Adjustment Assistance funds; and the Small Business Administration will invest up to $3 million in technical assistance. 

The Obama administration is committed to smarter use of existing federal resources to foster regional innovation in support of sustainable economic prosperity. Strong industry clusters – like the Research Triangle in North Carolina or Silicon Valley in California – promote robust economic ecosystems and the development of a skilled workforce, both of which are critical to long-term regional success.

“Regional innovation clusters bring together the knowledge and financial resources that America needs to compete in the global economy,” said NationalEconomic Council Director Gene Sperling. “The Jobs and Innovation Accelerator Challenge will help regional innovation clusters produce the nextgeneration of innovative products and drive sustainable economic growth and job creation.”

The deadline to apply to the Jobs and Innovation Accelerator Challenge is July 7, 2011. Details about the application process are available here.

Hearing From Local Businesses in Minneapolis, MN: Secretary Locke Joins a White House Jobs and Competitiveness Council Listening and Action Session

UPDATED: Secretary Locke wrote about his time in Minneapolis on the White House blog.

Today, Secretary Locke traveled to Minneapolis to take part in a White House Jobs and Competitiveness Council Listening and Action Session. There, he heard suggestions from local business leaders on how the public and private sectors can work together to create jobs and enhance competitiveness for small businesses.

Secretary Locke was joined by Antonio M. Perez, Chairman and CEO, Kodak, Don Graves, President’s Council on Jobs and Competitiveness, Department of Treasury, Ron Bloom, Senior Counselor for Manufacturing Policy, President’s National Economic Council, and Darlene Miller, President and CEO, Permac Industries.

Ms. Miller and Permak Industries, located just outside Minneapolis, played host to the session. They provided Administration officials and Jobs Council Members with a tour the Permac Industries facility and then held forum discussions and Q and A sessions with local business owners to discuss ideas for creating jobs and growing business in this country.

These sessions are part of an ongoing series of regional Council Listening and Action Sessions that will take place around the country.  The purpose of the regional sessions is to respond to the President’s challenge that the Council bring new voices to the table and ensure that everyone can participate and inform the work and recommendations of the Council.  The ideas and information exchanged at these events will help inform the future policy work of the President’s Council on Jobs and Competitiveness. The first Listening and Action Session took place in Dayton, Ohio and focused on creating new markets and customers for small businesses through supply chain development, in-sourcing, and partnerships with large businesses.

Secretary Gary Locke Takes Nationwide New Markets, New Jobs Tour to New Orleans to Help Small Businesses Export

Locke, Van de Werken and Landrieu

U.S. Commerce Secretary Gary Locke traveled to New Orleans, La. today for the third stop of New Markets, New Jobs: The National Export Initiative Small Business Outreach Tour. Locke was joined by New Orleans Mayor Mitch Landrieu and Export-Import Bank Board Member Diane Farrell.

Locke delivered keynote remarks at the event, where he spoke about the administration’s efforts to support President Obama’s National Export Initiative (NEI), which aims to double U.S. exports in five years in support of several million new jobs. The NEI enhances the U.S. government’s trade promotion efforts, increases credit to businesses looking to export, and continues to improve efforts to remove trade barriers for U.S. companies in foreign markets.

Locke also announced the department’s CommerceConnect Gulf Coast initiative to support economic development following the BP/Deepwater Horizon oil spill, and highlighted a forthcoming announcement from the Department’s Economic Development Administration of grants to the region totaling $1.85 million. Cross-trained CommerceConnect staff – in collaboration with state and local partners – can assist Gulf Coast businesses no matter where they are in their life cycle, whether just getting off the ground or looking to expand into overseas markets, providing a one-stop connection to business assistance that can help firms compete in the global economy. 

Commerce Department to Deploy Economic Assessment Teams to Six Northeast Fishing Ports

The U.S. Commerce Department announced today that economic development assessment teams will deploy next month to conduct a two-day analysis of six Northeast fishing communities. The teams will visit Portland, Maine, Seabrook, N.H., New Bedford, Mass., Gloucester, Mass., Point Judith, R.I., and Montauk, N.Y. The assessment teams will conduct meetings with local leaders to help identify economic development challenges and opportunities facing local industries and communities. 

“The Department of Commerce is committed to supporting a vibrant and profitable fishing industry in the United States. The assessment teams will help communities identify and begin to address the economic difficulties they are facing,” Commerce Secretary Gary Locke said. “We know that by rebuilding stocks, we will improve economic conditions for fishermen and coastal communities, but we recognize that transition is difficult. We are committed to help identify proactive solutions during these challenging economic times.”

“Supporting fishermen and fishing communities with economic assessment and planning assistance is a top priority for the Department of Commerce and the administration,” said Brian McGowan, Deputy Assistant Secretary of Commerce for Economic Development. “The Northeast economic development assessment teams will play an important role in providing technical expertise to local leaders as they develop strategies to increase economic and job opportunities.”

The goal of the visits is to provide customized technical assistance for fishing communities that experienced  reductions in groundfish fishing revenues in recent years.  The Economic Development Administration (EDA), in partnership with other federal agencies, will meet with local leaders to assess current and emerging economic issues. EDA, with the assistance of the U.S. Commerce Department’s National Oceanic and Atmospheric Administration (NOAA), evaluated economic and fisheries industry data, including groundfish landing revenues and the percentage of groundfish landed at a port relative to the state totals, in order to select ports for the interagency assessments.

Secretary Locke Joined President Obama for First Meeting of the President's Council on Jobs and Competitiveness

President Barack Obama meets with the members of the President’s Council on Jobs and Competitiveness in the Eisenhower Executive Office Building, Feb. 24, 2011. From left are; General Electric CEO Jeffrey Immelt, chair of the Council on Jobs and Competitiveness; President Obama; Chief of Staff Bill Daley; and AFL-CIO President Richard Trumka. (Official White House Photo by Pete Souza)

Today, Secretary Locke joined President Obama at the White House for the first meeting of the President’s Council on Jobs and Competitiveness. Today’s meeting served as a forum on how to continue the dialogue between government and the private sector. The Council is focused on finding new ways to promote growth by investing in American business to encourage hiring, to educate and train our workers to compete globally, and to attract the best jobs and businesses to the United States. The Council’s members represent various sectors of the economy, bringing diverse perspectives on how the government can best promote growth, spark innovation, create new jobs, and invest in American competiveness so we can out-compete the rest of the world.  As part of the effort to bring diverse perspectives to the table, two of the Council Members are small business owners, representing the critical role small businesses play as the backbone of our economy and in securing America’s future prosperity.

The President and Secretary Locke talked with the Council about:

  • Helping entrepreneurs get the financing they need to get started and helping existing business owners get the financing they need to expand their businesses,
  • Ensuring that our workforce is equipped with the skills they need to out-compete the rest of the world,
  • And bolstering job growth at home by promoting American exports across the globe, especially in 21st century industries like clean energy.

See more in this White House blog post.

Secretary Locke Kicks Off 'Compete to Win' Address Series in Columbus

Locke at podium with large projection screen behind him

U.S. Commerce Secretary Gary Locke traveled to Columbus, OH, today to deliver the keynote address at the 2011 Columbus Chamber of Commerce Annual Meeting.  This event launches Locke’s “Compete to Win” address series – an ongoing outreach effort to Chambers of Commerce across the country in which Locke will listen to the ideas and concerns of members of the business community and highlight Obama administration economic policies that are designed to spur growth and support job creation.

During his address, Locke highlighted President Obama’s plans to strengthen the economic recovery, create jobs, help businesses succeed, and position America to win the future by out-innovating, out-educating and out-building our global competition.  He specifically discussed the administration’s focus on infrastructure and research and development investments, tax code reform and export promotion as top priorities that will help American businesses become more innovative, more competitive and more successful.  Locke also talked about Columbus’ own regional economic development strategy, Columbus2020!, and how administration policies will support and complement this initiative.   
 
Locke is scheduled to address the Dallas Regional Chamber on March 8 and the Metropolitan Milwaukee Association of Commerce on April 12.  Remarks

Startup America Kickoff at the White House

Secretary Locke participated in the White House launch of the “Startup America” initiative today in Washington, D.C. with U.S. Department of Energy Secretary Steven Chu, Small Business Administration Administrator Karen Mills, Director of the National Economic Council Gene Sperling, Chairman of the Council of Economic Advisors Austan Goolsbee, and a number of America’s top entrepreneurs and business leaders.

“Startup America” is a national campaign to promote high-growth entrepreneurship across the country with new initiatives to help encourage private sector investment in job-creating startups and small firms, accelerate breakthrough research, and address barriers to success for entrepreneurs and small businesses. The launch follows President Obama’s State of the Union commitment to winning the future by out-innovating, out-educating, and out-building the rest of the world.

To support this effort, the Department of Commerce plans to build on the success of last year’s inaugural i6 Challenge with i6 Green, a second competition this year focused on both regional economic development and environmental sustainability. The program aims to accelerate technology-led economic development in pursuit of a vibrant, innovative clean economy. The department is also developing the Three Track program at the U.S. Patent and Trademark Office, which would give innovators more control over application processing and support a more efficient market for innovation.  

Today’s event was one of a number of events the White House will hold this week to focus on innovation and how we can create the jobs and industries of the future by investing in the creativity and imagination of the American people. Learn more about Startup America by viewing the complete fact sheet, and learn about the independent and private-sector led campaign to mobilize private-sector commitments at Startup America Partnerships.  |  Remarks

Secretary Locke Delivers Key Policy Speech on U.S.-China Commercial Relations

 Secretary Locke addresses the U.S.-China Business Council about the path to unlock the full potential of the U.S.-China commercial relationship

At a luncheon today hosted by the U.S.-China Business Council, Commerce Secretary Gary Locke laid out a path to unlock the full potential of the U.S.-China commercial relationship.  Locke discussed how leveling the playing field for U.S. businesses in the Chinese market will help spur global innovation and economic growth and create jobs in America.  

Locke applauded steps China has taken to open its markets since its accession to the World Trade Organization (WTO) and progress made at the recent Joint Commission on Commerce and Trade meeting. And he cited examples of American and Chinese companies working together to solve big, global challenges. |  Remarks

America's Broadband Opportunity: Today the Administration is Freeing Up a Chunk of New Wireless Spectrum

This morning an opinion editorial co-written by Secretary Locke and Larry Summers ran in the Wall Street Journal. It explains the value of opening up additional wireless spectrum for innovation and economic growth.

Read the Ten-Year Plan, the Fast Track Evaluation, and learn about opening up more spectrum.

****
Wireless Transmission TowerRarely is there an opportunity to simultaneously catalyze private-sector investment, help create hundreds of thousands of new jobs, and increase much needed government revenue. President Obama is seizing just such an opportunity with his commitment to nearly double the amount of available commercial wireless spectrum over the next 10 years. Today, the Department of Commerce's National Telecommunications and Information Administration (NTIA) will take the first step by announcing a plan to free up 115 megahertz (MHz) of spectrum.

Spectrum is fast becoming a pillar of America's digital infrastructure. It has enabled the mobile broadband revolution. All of our smart phones, netbooks, and the "apps" they support depend on the availability of wireless spectrum.

But while demand for America's spectrum resources is increasing at rapid rates—the amount of information flowing over some wireless networks is growing at over 250 percent per year—there has not been a corresponding increase in supply. This congestion has led to more dropped calls and slower data rates.