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

Blog Category: International Trade Administration

Secretary Pritzker Delivers Remarks on America’s Economic Future in the Asia-Pacific

In her remarks, Secretary Pritzker discussed the United States’ commitment to strengthening commercial and economic ties throughout the Asia-Pacific, which is a critical dimension of the president’s rebalance toward this fast-growing region. The Asia-Pacific region presents rapidly growing opportunities for American businesses and workers. The region accounts for nearly 60 percent of world GDP and 40 percent of global trade. Secretary Pritzker highlighted the United States’ leadership role in efforts such as the Trans Pacific Partnership, and she also emphasized the growing U.S. ties with both longstanding and emerging trade partners.

Read a summary of her remarks and audience tweets below.

First Americas Competitiveness Exchange Encourages Collaboration, Drives Innovation and Entrepreneurship in the Western Hemisphere

Guest Blog Post by Walter Bastian, Deputy Assistant Secretary of Commerce for The Western Hemisphere

Competition and collaboration aren’t typically mentioned in the same breath. For nations and businesses competing to innovate and prosper in a global marketplace, these concepts seem completely antithetical to one another.

That’s why the first Americas Competitiveness Exchange on Innovation and Entrepreneurship (Exchange) is such a unique and exciting partnership.

As part of the Exchange, senior officials from the U.S. Department of Commerce’s International Trade Administration (ITA) and Economic Development Administration (EDA) last week led a delegation of 45 business and government leaders from 20 Latin American and Caribbean countries on a tour across the Southeast United States. They visited five cities in four days with stops in Atlanta, Ga., Greenville, S.C., Conover, Kannapolis, and Charlotte, N.C.

The delegation toured technology centers, innovation hubs, and investment zones to see how U.S. companies are working to create some of the most advanced products in the world. The tour was geared to help make the interpersonal and inter-governmental connections that can lead to future international trade and investment deals.

The Americas Competitiveness Exchange for Innovation and Entrepreneurship provided a great opportunity for decision and policy makers in the Americas to see the results of economic development initiatives and meet high level authorities, leaders of private sector associations, public and private universities with research and innovation centers, looking to explore and expand the links between our economies and key stakeholders.

The United States and Latin America maintain a very special and very important investment relationship. In 2012, the total stock of Latin American foreign direct investment (FDI) in the United States was nearly $96 billion. And every day, 259,000 workers in the United States go to work in U.S. subsidiaries of Latin American firms. 

Join the Conversation on Investment

Vinai Thummalapally, Executive Director, SelectUSA

Guest blog post by Vinai Thummalapally, Executive Director, SelectUSA

This month, SelectUSA is really upping our game when it comes to online engagement around investment.  We hope you’ll join the conversation on Twitter at #SelectUSA!

Our colleagues across the Commerce Department will be sharing their thoughts on how innovation, data and hard work contribute to job creation. We’re collaborating with our friends at the State Department’s Economic & Business Affairs Bureau, as well as with our Commerce and State colleagues throughout the United States and globally at our embassies and consulates. 

But we’re not stopping with Commerce and State. We’re reaching out across the U.S. federal government through the Interagency Investment Working Group (IIWG), to more than twenty other agencies.  (You can find all of our Commerce and IIWG twitter profiles here.)

This is a big conversation, but most importantly, we hope to be hearing from YOU.

We’re broadening the conversation at #SelectUSA to talk about how investment in the United States drives job creation and how we can work together to attract even more jobs.

Did you know that, as of 2011 (the most recent data available), U.S. subsidiaries of foreign companies employed more than 5.6 million workers and paid an average annual salary of $77,600?  According to preliminary estimates from the Bureau of Economic Analysis, foreign direct investment (FDI) inflows totaled $187.5 billion in 2013, rising from $160.1 billion in 2012.  The United States also recently took back the top spot in A.T. Kearney’s FDI Confidence Index.

What do these numbers mean to you?  Are you an investor looking to expand your operations in the United States?  Are you seeking to attract more investment to your town, city, county or state?  How can SelectUSA assist you?  

Big Data is Big Business for Commerce

Under Secretary for Economic Affairs Mark Doms (center) along with Erie Meyer, Joel Gurin, Waldo Jaquith, and Daniel Castro at the Center for Data Innovation hosted “The Economic Benefits of Open Data” event

Guest blog post by Mark Doms, Under Secretary for Economic Affairs

Big Data and Open Data are all the rage these days. However, Commerce was into Big Data before Big Data was cool. As far back as 1790, we began collecting data on patents in the U.S. and the Census Bureau conducted the first Decennial Census the same year. In 1870, the National Weather Service was created – which today is one of the biggest data producing agencies around.

Back then, our economy was based largely on agriculture. Over the years, our economy evolved through the industrial revolution, later giving rise to the strong service sector. Today, we are at the nascent stages of the next era in our economic growth, the information age. On a daily basis, there is an ever-increasing amount of data becoming available, and the demand for data is increasing exponentially. We have before us both great opportunity and fascinating challenges to understand how best to harness this national resource. This is a key focus of Commerce’s Open for Business Agenda.

You may not know it, but the Department of Commerce is home to many agencies that are your primary source for data that you likely use every day.

For example:

  • How many people live in the U.S. or in your hometown? You might know the Census Bureau is the authority on population, but did you know the Census Bureau’s data goes well beyond just population? Census also produces huge volumes of data on our economy, demographics, and fascinatingly insightful data describing our communities – or, if you are a business, your customers.
  • The Bureau of Economic Analysis is a little know agency that produces key economic data and many of the closely watched economic indicators that move markets, drive investment decisions and guide economic policy. Do you know which industries are the leading sources of income in your community, or to your customers? BEA data can tell you.
  • The National Oceanic and Atmospheric Administration, or NOAA, is your primary source for weather, ocean and climate data – they are collecting data every minute of every day from land, sea, and even spaced-based sensors. When you hear the local forecast or hear about severe weather warning, that is NOAA data informing you about your environment in real time.
  • The National Institute of Standards and Technology, locally known as NIST, is our nation’s authority on broad swaths of scientific, cyber, and physical data – including, officially, what time it is.
  • We also have data on patents going back more than 200 years at the U.S. Patent and Trademark Office, which is a gold mine of inspiration for innovation.
  • Other agencies in Commerce provide data on economic development, minority businesses, trade, and telecommunications and the Internet.

On any given day, the Department will generate in excess of 20 terabytes of data, and sometimes much more. Yet, we think we can do more with this resource. We want to take every step we can to open access to it to the entrepreneurs and innovators of America, as we are pretty convinced that there is huge unmet value and potential. We understand that a huge part of the value of data is when it is not seen alone, but as part of a rich tapestry of information. We believe that there is great opportunity to solve problems, innovate new businesses, and improve data-driven decision-making, and we are committed to that path.

That is why I was so glad to be a part of today’s launch of the Open Data 500 Project, housed out of the GovLab at NYU. This exciting project has verified what we were certain must be true: That hundreds of American companies are using Commerce data every day to innovate and deliver important goods and services to their customers.

Spotlight on Commerce: Kim Glas, Deputy Assistant Secretary for Textiles, Consumer Goods, and Materials, International Trade Administration

Spotlight on Commerce: Kim Glas, Deputy Assistant Secretary for Textiles, Consumer Goods, and Materials, International Trade Administration

Ed. note: This post is part of the Spotlight on Commerce series highlighting members of the Department of Commerce and their contributions to an Economy Built to Last.

Guest blog post by Kim Glas, Deputy Assistant Secretary for Textiles, Consumer Goods, and Materials, International Trade Administration

Serving as the Deputy Assistant Secretary for Textiles, Consumer Goods, and Materials, my job is to improve the domestic and international competitiveness of the broad product range of U.S. textiles, footwear, consumer goods, metals and mining, forest products, and chemicals and plastics manufacturing sectors and industries. This position requires strong negotiation and problem-solving skills and the ability to work with a broad array of stakeholders with divergent opinions in order to find solutions on a whole host of issues. 

Over the last 3 years, I have spent significant time at the negotiating table for the Trans-Pacific Partnership Free Trade Agreement to ensure opportunities under the agreement for U.S. textile and footwear producers.  I coordinate within the ITA and across agencies to ensure we can deliver results for companies and the workers they employ.  While the job has been challenging, it has been an incredibly rewarding opportunity.  I have worked with top-notch staff across the Department and in the Administration who are driven to expanding opportunities for U.S. industries and workers.

Having worked in two Administrations and on Capitol Hill, I have always been driven by a mission to serve the American people and have been fortunate to do so throughout my career.  Growing up, my parents, extended family, teachers, and mentors were incredibly supportive of me and instilled in me to work hard, serve others, and have a strong sense of self. I grew up in the close-knit community of Lockport, NY located near Buffalo during a time when many industries in the area were facing enormous economic hardships.  Layoffs all too often were the front page news of the local paper.  My high school experience reflected what was happening in the community – and I knew that I wanted to make it better.

Views of the Trade Mission: A Learning Experience and Wealth of Opportunity

Kurt Bergman, Chief Executive Officer, Michael Baker International

Guest blog post by Kurt Bergman, Chief Executive Officer, Michael Baker International

As the CEO of Michael Baker International, I was honored when we were selected to accompany U.S. Secretary of Commerce Penny Pritzker on an infrastructure related trade mission to the UAE, Qatar and the Kingdom of Saudi Arabia. After eight whirlwind days, I look back and reflect on what I learned and felt about the trip and the wealth of opportunity in our future: 

  1. The Middle East continues to be one of the most exciting infrastructure markets on the planet, with well thought, visionary initiatives across the infrastructure spectrum of water, power, surface transportation, aviation and others as well as developments of incredible forethought about the environment, including how we will live and work in the future.
  2. The U.S. and Middle East relations continue to be strong and there is a distinct desire for American companies to participate in this market.
  3. As a global company, the U.S. Embassy Commercial office staff are an incredible asset to assist you.
  4. No matter how long you have worked in the global market, there is always something new to learn.

As we traveled from Abu Dhabi to Dubai, Riyadh and Doha, I was in awe of the size, scope and magnitude of the projects that were being conceived, planned, designed and constructed. The projects we were briefed on included the Qatari Supreme Council for Legacy's FIFA World Cup 2022 program investing over $100 Billion USD to create a fan experience based on sustainability, access and enjoyment with an eye to the future. Another program was the Saudi Arabian metro initiatives in Riyadh and Jeddah where 100 of kilometers of innovative, futuristic public light rail valued at over $50 Billion USD are being installed with a four year completion goal. The Emirati Al Satiyya island development was a wonder to contemplate with over 148 square kilometers of environmentally sensitive towns centered around a world class school, entertainment and culture containing three museums being designed by different work class Pritzker prize winning architects. Nowhere else in the world is there such a desire and drive across an entire region for sustainability, cultural and environmental stewardship and quality. Michael Baker International is excited to continue our  legacy of support in the region that goes back to the 1950s and our support to the Saudi Royal Family and to supporting the U.S. State and Defense missions throughout the region today.

U.S. Secretary of Commerce Penny Pritzker Tours Solar Park in Dubai

Secretary Pritzker speaks to the Dubai Chamber of Commerce

On Monday in Dubai, U.S. Secretary of Commerce Penny Pritzker toured the Mohammed bin Rashid Solar Park by helicopter, getting a firsthand look at how cooperation between the U.S. and Dubai can lead to tremendous opportunities for businesses in both countries.

The solar park was built by First Solar, a company based in Tempe, Arizona that is currently accompanying Secretary Pritzker as part of her trade mission to the Middle East. Completed in October of 2013, the solar park is a 13 megawatt power plant and the largest solar facility of its kind in the Middle East.This solar park proves U.S. businesses can serve as strong business partners to the Gulf region as UAE invests in its infrastructure and transportation systems.

After the tour, Secretary Pritzker and the business delegation met with Dubai Electricity and Water Authority  (DEWA) project specialists and DEWA CEO Al Tayer to further discuss DEWA’s investments in water, electricity and renewable energy projects, all of which offer additional opportunities for American companies to serve as partners.

In addition to her tour of the solar park, Secretary Pritzker held several meetings on Monday to support U.S. companies as they explore business opportunities in Dubai’s infrastructure expansion. She met with Dubai Chamber of Commerce and Industry (DCCI) officials and World Expo 2020 committee members to congratulate Dubai on winning the World Expo 2020 bid and to offer the Commerce Department’s support in preparation for the Expo. Held every five years, the World Expo attracts millions of visitors to the six-month long exhibition of trade, innovation and products from around the world. Dubai Expo 2020 will focus on sustainability, mobility, and opportunity, and will be a platform for connectivity to help pioneer new partnerships for growth and sustainability for the future.    

Department of Commerce releases FY 2014-2018 Strategic Plan

Plan priorities are in direct alignment with the Department’s “Open for Business Agenda”

Today the Department of Commerce released its Strategic Plan for fiscal years 2014 to 2018. The five-year plan, along with the recently released FY15 budget, provides the pathway for meeting the Department’s long-term goals and objectives. The plan, summarizes the key strategies and initiatives that will drive progress in the Department’s five priority areas:

  • Trade and Investment. Expanding the U.S. economy through increased exports and foreign direct investment that leads to more and better American jobs.
  • Innovation. Fostering a more innovative U.S. economy—one that is better at inventing, improving, and commercializing products and technologies that lead to higher productivity and  competitiveness.
  • Data. Improve government, business, and community decisions and knowledge by transforming Department data capabilities and supporting a data-enabled economy.
  • Environment. Ensuring communities and businesses have the necessary information, products, and services to prepare for and prosper in a changing environment.
  • Operational Excellence. Delivering better services, solutions, and outcomes that benefit the American people.

The creation of the strategic plan was a collaborative effort involving staff from every Department of Commerce bureau and serves as a foundation for economic growth and opportunity. The plan is in direct alignment with the  “Open for Business Agenda,” which reflects the Department’s role as the voice of business, and the Administration’s focus on economic growth and job creation. Department leaders and employees will use this plan to transform strategies into actions, and actions into results.

Read a summary of the plan or the entire plan.

Files

U.S. Secretary of Commerce Penny Pritzker Begins Trade Mission to Middle East

U.S. Secretary of Commerce Penny Pritzker leaves today for the Middle East for her second trade mission. She will lead 21 U.S. companies on the trade mission, which is focused on export opportunities for U.S. businesses in the infrastructure sector.  This trade mission will mark the first time in 15 years a U.S. Commerce Secretary has taken a trade mission to the Persian Gulf.  The delegation will make three stops over the next week including the United Arab Emirates, the Kingdom of Saudi Arabia, and Qatar.

In addition to export opportunities for U.S. businesses in the infrastructure sector, this trade mission will focus on areas such as project management and engineering (including construction, architecture and design), renewable energy (solar, wind, and waste-to-energy), smart grid and energy efficiency, and environmental technologies (including water/wastewater, air pollution control, and waste management). Each of these areas is critically important to growing and expanding U.S. business opportunities in the region.

Last week, Secretary Pritzker delivered remarks to the U.S.-U.A.E. Business Council, the U.S.-Qatar Business Council, and the U.S.-Saudi Arabian Business Council where she discussed the decades-long security and commercial relationship between the United States and the Middle East and the growing opportunities for expanding business in the region. She stressed the importance of this trade mission as a demonstration of the United States’ commitment to a sustained economic partnership in the Gulf region.

Secretary Pritzker recently returned from her first trade mission to Mexico which provided 17 U.S. companies with opportunities to establish relationships and promote their technologies and services in Mexico’s advanced manufacturing, information and communications technology, health IT and medical device sectors. The mission also allowed Secretary Pritzker to focus on a key pillar of the Department's "Open for Business" agenda, helping U.S. businesses export goods and services and expanding investment opportunities in the U.S.

Van Nuys-Based Louroe Electronics Travels with U.S. Secretary of Commerce to Mexico for First Trade Mission

Richard Brent, CEO of Louroe Electronics

Guest blog post by Richard Brent, CEO of Louroe Electronics

I remember getting the call from U.S. Department of Commerce extending an invite to my company, Louroe Electronics, to accompany Commerce Secretary Penny Pritzker on her first-ever trade mission to Mexico. I was truly humbled and enthusiastic about this unique opportunity.

I’ve served as the CEO of Van Nuys-based Louroe Electronics, the world leader in audio monitoring technology, for more than 5 years now and was thrilled to receive the call. I was beyond excited to learn that Louroe was handpicked by the Department of Commerce - the only Southern California and sole security company- along with 16 other export-ready companies, to be a part of The Secretary’s historic trade mission. The mission specifically focused on promoting U.S. exports in key industry sectors including advanced manufacturing, information and communications technology, and security products.

From February 3-7, I personally traveled with Secretary Pritzker to Mexico City and Monterrey alongside other leading companies including: IBM Corporation, Motorola Solutions, Inc., Oracle Corporation, LexisNexis Risk Solutions, and Deloitte Consulting LLP.  Our mutual goal was to promote U.S exports. This trade mission helped facilitate introductions to key government and private sector decision makers in Mexico who shared with us key initiatives and how US companies can assist with development and growth.

As a result of my participation in the trade mission, I was able to successfully identify five new pilot projects for Louroe that will focus on improving public safety throughout Mexico City and Monterrey. This is great news not only for Louroe but also for the Los Angeles economy as the pilot programs will require us to increase our current staffing by approximately 10 percent, ultimately creating more jobs.