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Blog Category: President Obama

Secretary of Commerce Penny Pritzker Highlights U.S. Commitment to Doing Business In Africa

Secretary Pritzker Joins Mayor Bloomberg and President Obama at the U.S.-Africa Business Forum

Yesterday, at the U.S.-Africa Business Forum, U.S. Secretary of Commerce Penny Pritzker highlighted a number of Commerce Department efforts to help more American businesses explore opportunities in Africa’s fast-growing markets. The Forum, focused on trade and investment opportunities on the continent, was part of President Obama’s three-day U.S.-Africa Leaders Summit, the largest event that any U.S. president has ever convened with African heads of state or government.

Co-hosted by the Department of Commerce and Bloomberg Philanthropies, the U.S.-Africa Business Forum was created to encourage greater U.S. investment in Africa, foster business deals, and help create jobs on both sides of the Atlantic. During remarks at the Forum, President Obama announced that U.S. businesses have already committed to investing $14 billion in clean energy, aviation, banking, and construction projects, among other commitments totaling more than $33 billion that support economic growth in Africa and thousands of U.S. jobs.

The Commerce Department leads the Doing Business in Africa (DBIA) campaign, which was launched in 2012 as part of the President Obama’s “U.S. Strategy Toward Sub-Saharan Africa.” DBIA aims to increase U.S. trade promotion to Africa, address market barriers, expand the availability of trade financing, and attract more American companies to explore sub-Saharan Africa trade and investment opportunities.

In an op-ed published by Forbes, Secretary Pritzker and Michael Bloomberg touted the business deals signed during the forum and made the case for Africa as a prime investment location. “We know what is possible when American companies work hand-in-hand with African counterparts: we can help raise living standards and pave the way for future growth.” One example of the benefits of these partnerships can be seen through IBM, who opened Africa’s first major commercial technology research lab in Kenya to pioneer consumer-facing innovations aimed at African markets. This forum was only the beginning, and highlighted American companies willingness to increase their economic partnerships and investment in Africa.

President Obama Announces New Steps to Promote Manufacturing, Increase U.S. Exports

Jim Albaugh, President and CEO of Boeing Commercial Airplanes, President Obama with Jim McNerney, CEO and chair of the PEC (Photo: Boeing)

Last Friday, President Obama visited the Boeing assembly facility in Everett, Washington to announce new steps to promote American manufacturing and increase U.S. exports. Manufacturing represents nearly 60 percent of total U.S. exports, and Boeing, whose CEO Jim McNerney is Chair of the President's Export Council (PEC), is one of the country’s leading exporters of manufactured goods with more than $34 billion in total exports in 2011. The PEC is chartered  to advise the president on real ways to boost innovation, competitiveness, and trade for American businesses. Mr. McNerney brings great skill and know-how to the PEC.

The Obama administration has provided important support to Boeing’s export success, and the president has made unprecedented efforts to open up markets for American goods and to level the playing field for all American companies.  Over the past year, the president has signed into law a series of trade agreements that will provide a major boost to our exports by making it easier for American companies to sell their products in South Korea, Colombia, and Panama. In addition, record-setting efforts at the Export-Import Bank–through direct loans, credit guarantees, and credit insurance–have helped U.S. exports remain on target to meet the president’s goal to double exports between 2010 and 2015.

Commerce Secretary Bryson Announces Grant to Stimulate Job Growth and Business Development

Photo of Harris Corporation

U.S. Commerce Secretary John Bryson today announced a $2.8 million Economic Development Administration (EDA) grant to the city of Palm Bay, Fla., to make critical roadway infrastructure improvements needed to help a major local employer expand its operations. The project is expected to create 180 jobs and generate $100 million in private investment, according to grantee estimates.

“The Obama administration is committed to helping stimulate job growth and business development,” Bryson said. “This grant will fund vital infrastructure in the community and help bring high-quality jobs and economic growth to Palm Bay.”

Putting Americans back to work is President Obama’s top priority. His American Jobs Act would put more money in the pockets of American families and do so without adding a dime to the deficit. In Florida, 410,000 firms would receive a payroll tax cut under the American Jobs Act, and a typical household in Florida, with a median income of around $46,000, would receive a tax cut of around $1,430.  Release

Honoring Invention: the World’s Only Inexhaustible Resource

President Obama with receipients at Meddal Award ceremony.

Guest blog post by David Kappos, Under Secretary For Intellectual Property and Director, United States Patent and Trademark Office, Department of Commerce

At a ceremony at the White House Friday, I had the pleasure to join President Obama as he honored recipients of the National Medal of Technology and Innovation—the highest honor bestowed by the United States government on our nation’s brightest innovators and inventors.

Whether unraveling the information intertwined in a DNA helix, improving the safety of air travel, or digitizing the way we capture memories of loved ones—the medal recipients have offered humanity new tools to tackle some of the toughest challenges we confront as a planet. Moreover, by improving our understanding of the world around us, they have rewritten textbook fundamentals—and inspired a new generation of thinkers to explore unfamiliar terrain.

Much like the thousands of patent and trademark applications, the Commerce Department's United States Patent and Trademark Office (USPTO) carefully examines each and every day, the National Medal of Technology & Innovation serves as a reminder that our nation continues to be built by those willing to challenge traditions—willing to push the boundaries of convention and willing to test new limits in design and thought.

Forty-Six U.S. Business Executives to Join Secretary Locke in China and Indonesia for Clean Energy Trade Mission

Foto de El Seretario Gary Locke.

Washington (May 4 )—Forty-six U.S. business executives will join U.S. Commerce Secretary Gary Locke in China and Indonesia May 15-25 on the first cabinet-level trade mission of the Obama administration. On the heels of President Obama’s new National Export Initiative, aimed at doubling U.S. exports in the next five years, Locke will lead American companies on this clean energy mission to advance their export opportunities and support American jobs. (More)

Secretary Locke Holds Exports Town Hall with Philadelphia Businesses

National Export Initiative logo. Click for more NEI information.

U.S. Commerce Secretary Gary Locke visited PENN Fishing Reels to discuss President Obama’s National Export Initiative and how it can help companies sell more of their goods and services overseas and create new jobs at home. Following a tour of the company’s manufacturing facility, Locke held a town hall meeting to highlight government resources available to businesses interested in selling their goods and services abroad. Locke was joined by U.S. Sen. Robert Casey, U.S. Rep. Chaka Fattah, Pennsylvania Gov. Ed Rendell and Mayor Michael Nutter. (More) (NEI) (Remarks)

Commerce Department Grant Advances President Obama's Commitment to Creating Jobs, Strengthening Economy in Central Florida

EDA seal.

U.S. Commerce Secretary Gary Locke announced a $2 million Economic Development Administration (EDA) grant to the Titusville-Cocoa Airport Authority of Titusville, Florida, to assist in the expansion of the Bristow Academy, a major helicopter pilot training facility, and create new Central Florida aerospace sector jobs. The project is expected to save 155 jobs, create 97 jobs and generate $2 million in private investment, according to grantee estimates. (More)

Secretary Locke Highlights the Importance of Entrepreneurship at Opening of Presidential Summit

Secretary Locke on Panel at Opening of Presidential Summit. Click here for larger image.

U.S. Commerce Secretary Gary Locke opened the Presidential Summit on Entrepreneurship at the Ronald Reagan International Trade Center addressing hundreds of entrepreneurs, business leaders, educators, and stakeholders from over 50 countries on five continents. Together with President Obama, the Commerce and State Departments hosted the summit, highlighting the work and talents of entrepreneurs from Muslim-majority countries and Muslim communities around the world. Following his remarks, Locke moderated the opening panel discussion on successful entrepreneurship. (Remarks) (Fact sheet)

Deputy Secretary Hightower Joins Vice President Biden in Pennsylvania for Groundbreaking of ARRA Project

Hightower on podium with Biden and others behind. Click for larger image.

U.S. Deputy Secretary of Commerce Dennis Hightower joined Vice President Joe Biden to kick off the groundbreaking of an American Recovery and Reinvestment Act (ARRA) project, with funds administered by Commerce’s Economic Development Administration (EDA). EDA obligated all $147 million of its Recovery Act funds one full year ahead of schedule. Responding to aggressive goals set out by President Obama and Vice President Biden, the agency acted expeditiously. Recovery Act funds were delivered to communities where they were needed most. (Remarks)

Commerce Department Releases Open Government Plan

Screenshot of Commerce's Open Government Website

In response to President Obama’s Open Government Directive, the Department of Commerce released its first iteration of its Open Government Plan. The plan creates a process for making more data available to the public and identifies three flagship Open Government initiatives that help make the Commerce Department more accessible and interactive. In a blog post on the Department’s Open Government Web site, Secretary Gary Locke noted that the plan, “establishes clear goals and benchmarks for success, and lays the foundation for continued work on increasing openness, participation and collaboration at Commerce in the months and years to come.” (Open Government Plan) (Open Government Web site) (Secretary’s post)