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Blog Category: Economy

Secretary Bryson Discusses the Future of U.S. Manufacturing at MIT

Secretary Bryson Discusses the Future of U.S. Manufacturing at MIT

There is a powerful link between America’s ability to make things and America’s ability to innovate, compete, and create good jobs, as Secretary John Bryson said today when he spoke to CEOs, students and faculty at “The Future of Manufacturing in the U.S.” conference at the Massachusetts Institute of Technology. The Secretary took the opportunity to discuss the importance of manufacturing in boosting U.S. economic growth, job creation and exports, as part of the administration's ongoing efforts to encourage companies to build things in America and sell everywhere around the globe.

Bryson also released a new U.S. Commerce Department Economics and Statistics Administration (ESA) report titled “The Benefits of Manufacturing Jobs,” an analysis of wages and benefits of manufacturing workers, which provides fresh evidence that manufacturing jobs encourage innovation and support economic security for America’s middle class. The report finds that total hourly compensation for manufacturing workers is 17 percent higher than for non-manufacturing workers. It also shows that manufacturing jobs are becoming more skilled and heavily reliant on science, technology, engineering and math (STEM) fields, and that manufacturing is responsible for 70 percent of our private sector R&D, 90 percent of our patents, and 60 percent of our exports.

After a decade in which the United States lost many manufacturing jobs, American manufacturers have added back 489,000 jobs since January 2010—the best streak since 1995. In the first four months of 2012 alone, the U.S. manufacturing sector added 139,000 jobs. At the same time, the number of job openings in manufacturing has more than doubled.

Manufacturing: Key to an Innovation-Based Economy

Under Secretary of Commerce and NIST Director Patrick Gallagher (left) participates in panel on advanced manufacturing

Scientists, industry leaders and public officials came together this week for a dialogue on innovation at The Atlantic's “From Inspiration to Innovation Summit,” held at Ronald Reagan Washington National Airport in Arlington, Va. Under Secretary of Commerce for Standards and Technology and National Institute of Standards and Technology (NIST) Director Patrick Gallagher was among the invited speakers on the panel, “Advanced Manufacturing: Made in America. . . Again?”

Responding to a question about NIST’s role in supporting manufacturing, Gallagher pointed out that the agency’s mission goes back more than 110 years. Then, and now, that mission has been to ensure that U.S. industries have the infrastructure of measurements, standards, and technology they need to be competitive in global markets, particularly manufacturing-based industries. That mission is even more important today, when so much manufacturing is tied to advanced technology, and our research and development—our ability to innovate—is deeply embedded in our manufacturing capability.

Secretary Bryson Declares May World Trade Month

Photo of manufacturing materials at Port of Baltimore)

Today, Commerce Secretary Bryson issued a statement in honor of May 2012 World Trade Month, which is marked annually by a series of state and local events across the country to promote U.S. trade relationships and provide resources to U.S. businesses looking to export their goods and services around the world.  World Trade Week, which falls in the third week of May, is recognized by a presidential proclamation annually.

Two years ago, the president set a goal of doubling our nation’s exports in five years through the National Export Initiative (NEI). On the second anniversary of the NEI, we announced that 1.2 million more Americans have export-supported jobs due to U.S. exports increasing by one-third from 2009 to 2011.  This is particularly good news because export-related jobs–like manufacturing jobs–pay higher than average.

To keep this momentum, this administration is committed to giving American workers and businesses a fair shot in the global economy by supporting trade agreements that will open up markets to U.S. companies, working to aggressively investigate unfair trade practices taking place anywhere in the world, and continuing to work to ensure that our workers and businesses are competing on a level playing field.

ITA: In Brussels, Assistant Secretary Camuñez Promotes Intellectual Property Rights and Protections

Seated beside Assistant Secretary Camuñez is Marielle Gallo, a Member of the European Parliament representing France.

Guest blog post by Michael C. Camuñez, Assistant Secretary of Commerce for Market Access and Compliance, International Trade Administration

This past week, I traveled to Europe as part of my ongoing efforts to deepen the already-robust trans-Atlantic trade relationship. One of my stops was in Brussels, Belgium, the home of the European Commission and heart of the European Union. There, I sat down with EU leaders to discuss ways in which the U.S. and Europe can work together to foster greater economic opportunity and growth on both sides of the Atlantic. I was honored to join a lunch with the president of the European Council Herman Van Rompuy, Italian Prime Minister Mario Monti, and other EU leaders, where I offered them my perspective on the importance of the protection of intellectual property rights to our shared prosperity.

I also participated in a panel discussion on intellectual property rights (IPR) and growth at the 10th Annual European Business Summit, an issue vital to fostering innovation. My participation in the Business Summit was timely. For the past several weeks, IPR policies have been hotly debated across the European Union. The question at the forefront of this debate is: how does one protect and enforce IPR, while at the same time creating an environment that will foster the continued growth of the digital economy?

My remarks offered me an opportunity to talk about the perspective that I bring as Assistant Secretary of Commerce for Market Access and Compliance. My role has given me some insight into the global competition to transform industrial, carbon-based economies into 21st-century knowledge-based economies–to attract and keep talent, to intensify the pace of innovation and commercialization of innovative products and services, and how to gain and keep our competitive edge.

Secretary Bryson Keynotes Manufacturing Summit Hosted by Senator Gillibrand in Rochester, New York

Secretary Bryson keynotes manufacturing summit, tours site with Senator Gillibrand

This morning, U.S. Commerce Secretary John Bryson delivered remarks at an upstate New York manufacturing summit hosted by U.S. Senator Kirsten Gillibrand and the Rochester Institute of Technology (RIT) at RIT’s Center for Student Innovation. He delivered the keynote address, discussing the administration’s initiatives to help businesses “build it here and sell it everywhere” around the world. Rochester, New York, has a long tradition of leadership in manufacturing and technology. Fueled by a well-educated workforce and commitment to entrepreneurship, Rochester has provided a great example of what American innovation can bring to the U.S. economy.
 
While in Rochester, the Secretary had a chance to tour RIT’s construction of their brand new facility, where students will soon be performing cutting-edge research in sustainability. The Commerce Department helped make this facility possible through a $13.1 million grant from Commerce's National Institute of Standards and Technology (NIST).
 
In the afternoon, the Secretary visited a business called Schlegel Systems, Inc., a company that specializes in seals, gaskets and brushes for the building products, automotive and copier industries. The Commerce Department’s Manufacturing Extension Partnership (MEP) in New York is working with Schlegel Systems, Inc. to accelerate new products into the marketplace and expand their markets, along with many other companies. Recent annual data shows that businesses that teamed up with the New York MEP had over $400 million in sales, helping to keep or create nearly 4,000 jobs.

U.S. Commerce Secretary John Bryson Delivers Remarks to Silicon Valley Business Leaders

Secretary Bryson addresses the Silicon Valley Leadership Group in San Jose, CA.

Commerce Secretary John Bryson delivered remarks and participated in a discussion today at the Silicon Valley Leadership Group (SVLG) annual “CEO Business Climate” Summit at IBM in San Jose, Calif. Bryson focused on the ways the administration is supporting American competitiveness and innovation.

In the past 25 months, the United States has added nearly four million jobs, and SVLG reported today that more than 60 percent of their members had added jobs last year. These jobs help continue to strengthen the country’s economic recovery, and Bryson laid out a few of the ways to helping businesses keep that momentum going.

Bryson discussed the importance of investment in the U.S. by both domestic and foreign firms, including through the Commerce Department’s SelectUSA initiative.

He also emphasized the importance of science, technology, engineering and mathematics (STEM) fields, where many job openings exist. The president’s 2013 budget requests $3 billion in STEM programs across the federal government. In addition, this week, President Obama is calling on Congress to pass legislation that would prevent interest rates from doubling for seven and one-half million students starting July 1.

U.S. to See Boost in International Tourism

Secretary Bryson Speaking at the U.S. Travel Association's International Pow Wow

U.S. Commerce Secretary John Bryson has announced that the U.S.’ number-one services export, travel and tourism, is growing stronger, creating jobs and boosting the American economy.

The Secretary announced today that the United States can expect to see a 4-5 percent average annual growth in tourism over the next five years, predicting that 65.4 million foreign travelers are projected to visit the United States in 2012 alone.

The Spring 2012 Travel and Tourism Forecast, released semi-annually by the International Trade Association (ITA), predicts continued strong growth in tourism to the U.S. following two consecutive record-setting years.

Secretary Bryson announced the Forecast at the U.S. Travel Association’s International Pow Wow annual event in Los Angeles, where he delivered remarks before more than 5,000 people from 70 countries from the travel and tourism industry.

Commerce’s Office of Innovation and Entrepreneurship Invests in the Jobs and Industries of the Future

EDA logo-banner

Guest blog by Matt Erskine, Acting Assistant Secretary for Economic Development

To mark the one-year anniversary of the White House Startup America Initiative, in January President Obama sent Congress a proposal to expand tax relief and unlock capital for startups and small businesses that are creating jobs.

When he launched the initiative a year ago, the president sought to promote the success of entrepreneurs across the country. The private sector responded with the Startup America Partnership, launching new entrepreneurial networks all across the country. AOL co-founder and member of the President’s Jobs Council, Steve Case, and the Kauffman Foundation joined to form the Startup America Partnership, which is a nonprofit alliance of entrepreneurs, major corporations and service providers that has mobilized more than $1 billion in business resources to serve as many as 100,000 startups over the next three years.

This year, the administration unveiled several new agency actions to accelerate the growth of young, job-creating companies, at the same time that new entrepreneur-led regional coalitions are launching throughout the nation.

One of those efforts will fuel regional innovation. In the coming months, the Department of Commerce’s Economic Development Administration (EDA), along with several Federal partners, will launch the third round of the i6 Challenge, a multiagency competition which funds regional collaborations to bring innovative, ground-breaking ideas from the lab to the marketplace, creating new startups and jobs across the country. Commerce is also launching a new initiative to connect entrepreneurs with the resources made available through the Startup America Partnership and its partners.

Deputy Secretary Blank Speaks on the Role of Innovation in the U.S. Economy

Deputy Secretary Blank speaks on innovation at National Press Club

Guest blog post by Deputy Commerce Secretary Rebecca Blank 

This afternoon, I had the honor of addressing an annual conference on innovation, sponsored by the National Bureau of Economic Research (NBER), a nonprofit, nonpartisan organization dedicated to promoting a greater understanding of how the economy works. Today’s event, entitled “Innovation Policy and the Economy,” provided an opportunity to discuss one of the most important contributors to America’s long-term competitiveness: innovation. 

America’s entrepreneurs, businesses, and workers are the primary source of new ideas that drive innovation. Patents, trademarks, and copyrights–the main protections in our intellectual property (IP) system–are critical tools that help commercialize game-changing ideas. By creating a better environment for our private sector to capitalize on those ideas, IP protections help foster the innovation and creativity that lead to a stronger economy and the creation of more, good-paying jobs. 

Secretary Bryson Promotes American Businesses Across the Americas at White House Conference

Earlier today, Secretary Bryson delivered welcoming remarks at the “White House Conference on Connecting the Americas.” The all-day conference brings together business and community leaders from across the country with Administration officials working to expand opportunities for American businesses and people throughout the Americas.

The conference also serves as a forum for the Hispanic community, with cultural and economic ties to the rest of the Americas, to further identify ways in which they can partner up with the administration to promote economic growth and prosperity.

Secretary Bryson spoke at the conference about how the U.S. can ensure a strong economic foundation at home, while strengthening its economic ties throughout the Americas. He reinforced that the people and cultures from throughout the Western Hemisphere are all part of the story of America, and together can create a powerful force in the global economy.

The U.S. economy benefits substantially from trade in the Americas. Over 40 percent of U.S. exports go to the Americas, and those exports are growing faster than U.S. trade with the rest of the world.

Almost 84 percent of U.S. trade within the region is covered by Free Trade Agreements. The U.S. has already opened trade with Mexico, Chile, Central America, Dominican Republic, and Peru through FTAs, and continues to work toward implementation with Colombia and Panama.

In his remarks, the Secretary also pointed out how the Department is working hard to connect U.S. companies to trade opportunities throughout the Americas. Earlier this week, Brazil’s President, Dilma Rousseff visited Washington, and Secretary Bryson led a meeting of the U.S.-Brazil CEO Forum. Leaders from both countries discussed how they can build on the U.S.-Brazilian record year of over $100 billion in bilateral trade.

The Department of Commerce is co-sponsoring the “White House Conference on Connecting the Americas” with the White House Office of Public Engagement and the Council of the Americas, an international business organization focused on economic and social development in the Western Hemisphere.