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Blog Category: Economy

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.

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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.

Secretary Locke Speaks with Silicon Valley Leadership Group on Obama Administration's Efforts to Foster Innovation

U.S. Commerce Secretary Gary Locke delivered remarks at the Silicon Valley Leadership Group (SVLG)’s annual luncheon today, emphasizing the steps the Obama administration has taken to turn around the U.S. economy and create jobs. Locke stressed the administration’s efforts to build a stronger foundation for long-term growth and prosperity by investing in research and development, a 21st century infrastructure and manufacturing, and underlined Silicon Valley’s role as the epicenter of technological innovation.

Sec. Locke wanted it to be known that “when it comes to new ideas, our only criterion is efficacy. It doesn’t matter if they come from the left or the right, the boardroom or academia. We simply will not rest until every American who wants a job can find one.”

Locke emphasized that President Obama’s proposed 2011 budget, while freezing domestic discretionary spending overall, actually increases funding for civilian R&D by nearly 6 percent. Also, he noted President Obama’s support a new business tax cut that will allow small businesses to deduct the full amount of new capital investments immediately.

Locke also highlighted President Obama’s National Export Initiative (NEI), which aims to double U.S. exports over the next five years in support of several million American jobs. The NEI will provide more funding, more focus and more Cabinet-level coordination to increase U.S. exports, and represents the first time the United States will have a government-wide export-promotion strategy with focused attention from the president and his Cabinet.

Remarks

New U.S. Census Bureau Data on Retail Sales and Business Inventories Show Solid Gains

File photo of Secretary Locke seated at conference tableToday, the U.S. Census Bureau released retail sales data for September 2010 and data on manufacturing and trade inventories and sales for August 2010. Both retail sales and business inventories rose 0.6 percent, exceeding private-sector expectations. Monthly sales for retail and food services in September increased 7.3 percent from September 2009, and business inventories in August rose 4.7 percent from August 2009.

“Retails sales have shown strong growth over the last three months,” U.S. Commerce Secretary Gary Locke said. “This rising trend signals that consumer spending is expanding and that the recovery is broadening. The outlook for sustained growth remains positive, and this administration remains focused on continuing the economic turnaround that has now seen four straight quarters of GDP growth and nine straight months in which the private sector has added jobs.”  Statement  |  Report on retail sales  |  Report on manufacturing and trade

Statement from Secretary Locke on August 2010 U.S. International Trade

U.S. Commerce Secretary Gary Locke issued the following statement on the release of the August 2010 U.S. International Trade in Goods and Services report by the Commerce Department’s U.S. Census Bureau and the U.S. Bureau of Economic Analysis. Today’s report showed that U.S. exports in August 2010 increased by 0.2 percent to $153.9 billion from their July 2010 level. Imports in August increased 2.1 percent over July to $200.2 billion. U.S. exports so far in 2010 are up nearly 18 percent compared to the same period last year.  Report  |  Statement  |  Fact sheet

Minority Business Development Agency Kicks Off National Minority Enterprise Development Week Conference

Conference to help expand global reach for minority-owned firms

Alternate TextToday Commerce's Minority Business Development Agency (MBDA) kicked off the 28th annual National Minority Enterprise Development (MED) Week Conference in Washington, D.C.  The week-long conference focuses on “Strategies for Growth and Competitiveness in the Global Economy.”

The MED Week conference helps minority-owned firms grow domestically and globally through a series of educational, training and business-to-business networking events. Throughout MED Week, nearly 1,500 minority business owners, government officials and corporate representatives will hear about President Obama’s National Export Initiative and develop the skills to become export-ready. They will also have the chance to participate in sessions on opportunities for minority-owned firms in federal contracting and Haiti reconstruction, among others. The week will wrap up with an awards gala to honor excellence in minority-owned firms.

MBDA and National Director David Hinson will welcome several speakers to this week’s conference, including: U.S. Commerce Secretary Gary Locke, Administrator of the Small Business Administration Karen G. Mills, U.S. Deputy Commerce Secretary Dennis Hightower, Under Secretary of Commerce for International Trade Francisco Sánchez, Under Secretary of Commerce for Intellectual Property and Director of the U.S. Patent and Trademark Office David Kappos, and Assistant Secretary of Commerce for Economic Development John Fernandez.

MBDA is focused on helping minority-owned firms grow their businesses domestically and globally to foster job creation and economic growth. For more information about the conference and a video of National Director Hinson at MED Week, visit http://www.medweek.gov.  |  Conference details and more  | USPTO Kappos's remarks

Secretary Locke Addresses 78th Annual Meeting of U.S. Conference of Mayors

Image of conference video clip with president of mayor conference and LockeU.S. Commerce Secretary Gary Locke visited Oklahoma City for the 78th annual meeting of the U.S. Conference of Mayors held at the Cox Convention Center. Locke addressed the crowd on the final day of the conference, and Commerce’s Assistant Secretary for Economic Development John Fernandez and Census Bureau Director Robert Groves spoke over the weekend. The U.S. Conference of Mayors is the official nonpartisan organization of cities with populations of 30,000 or more. Each city is represented at the Conference by its chief elected official, the mayor.

On Sunday, a special session highlighted the conference with mayors from Gulf Coast cities dealing with the BP oil spill and its devastating after-effects. During the session, mayors discussed a resolution put forth by the mayors of Baton Rouge, La., and Tallahassee, Fla., that calls for increased federal efforts to access, mitigate and recover from the environmental and economic damage of the disaster and work closely with other local officials in all phases of the national response. Locke visited the Gulf Coast region last Thursday and spoke with local businesses that have been impacted economically by the oil spill. Remarks  Secretary's Conference video

Secretary Locke Co-Hosts CNBC's 'Closing Bell With Maria Bartiromo'


U.S. Commerce Secretary Gary Locke is in New York City today to co-host CNBC’s “Closing Bell with Maria Bartiromo” live from the New York Stock Exchange. Locke will discuss his recent clean energy trade mission to China and Indonesia and the steps the Obama administration has taken to right the economy with host Maria Bartiromo during the second hour of the show’s broadcast. He is the first Cabinet Secretary to co-host the program. “Closing Bell” airs Monday through Friday from 3-5 p.m. EDT and covers the last hour of trading in the U.S. stock markets. Program video clip.

Commerce Department Recruiting Industry Experts to Serve on New Advisory Council on Minority Business

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The Commerce Department is recruiting leaders from the private sector to serve on the National Advisory Council on Minority Business Enterprise (NACMBE). The council will provide advice and guidance to the Secretary on key issues, including policies that would best position minority-owned firms to compete in the global economy: access to capital, expanded participation in emerging industries, and improved access to the global supply chains of the world’s largest corporations. Commerce’s Minority Business Development Agency (MBDA) will assist the Secretary in overseeing the Advisory Council. (More) (Nomination notice)

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)

Secretary Locke Statement on Advance Estimate of Real GDP in the First Quarter of 2010

Department of Commerce seal.

The U.S. Commerce Department’s Bureau of Economic Analysis today released the first estimate of gross domestic product (GDP) for the first quarter of 2010. Real GDP grew 3.2 percent at an annual rate in the first quarter, consistent with private-sector expectations. “With a third-straight quarter of growth, it’s clear America’s economy is turning around,” U.S. Commerce Secretary Gary Locke said. “But Americans remain rightly focused on their personal financial situations and jobs. Wall Street reform is an essential part of securing the future for our families and businesses. (More) (Release)