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Blog Category: Ohio

Commerce Secretary Penny Pritzker Discusses "Open for Business Agenda" at Lake Shore Cryotronics in Ohio

Pritzker touring plant with Lakeshore Cryotronics officials

Secretary Penny Pritzker traveled to Westerville, Ohio yesterday to deliver a speech highlighting the Obama Administration’s economic growth agenda and the Department of Commerce’s priorities. Secretary Pritzker announced a new strategic vision for the Department, the “Open for Business Agenda,” November 14.  In Ohio, Secretary Pritzker toured and delivered remarks at Lake Shore Cryotronics, an international leader in the development of cryogenic temperature sensors and instrumentation.

Promoting trade and investment is a major part of Secretary Pritzker’s “Open for Business Agenda.” Nationwide, America’s businesses are exporting: the United States hit a record $2.2 trillion dollars in exports last year, up $600 billion dollars from 2009 when President Obama launched his National Export Initiative. Lake Shore Cryotronics, for example, generates 60 percent of sales from exports. Nearly 10 million U.S. jobs are now supported by exports, up 1.3 million since 2009. But the United States still under-exports, which is why the Secretary is gearing up to launch NEI 2.0, which will aim to help more U.S. companies sell their goods and services to more markets around the world.

In order to achieve greater economic growth and create more good jobs, Secretary Pritzker talked about the need to attract more foreign investment to the United States. According to Columbus 2020, an economic development organization for the 11-county Columbus Region, about 39,000 people in Central Ohio are employed by foreign-owned companies. But as of 2011, 5.6 million jobs nationwide million jobs are supported by foreign direct investment, supporting $437.8 billion in wages to U.S. employees. Global businesses want to be here in the United States because of our stable rule of law, intellectual property protections, solid financial markets, world-class universities, strong consumer base, and our low-cost and abundant energy. That is why President Obama launched SelectUSA at the Commerce Department in 2011. SelectUSA has been working with foreign CEOs and economic development groups across the country to put even more deals in the pipeline.

EDA Helps Ohio Auto Community Build a New Future

Economic Development Administration-banner

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

Economic recovery in the wake of an economic disaster—such as the closing of a large employer—doesn’t happen overnight. It requires careful planning, the coordination of human and financial resources, and a willingness to consider alternative directions that will benefit the community in the long run.

This is the story that the city of Moraine, Ohio, can tell. For nearly 90 years, Moraine—located in close proximity to Dayton, Ohio—was the location of a single, prominent manufacturing plant whose successive owners read like an honor roll of 20th century American business: Dayton-Wright Airplane (manufacturer of DeHavilland aircraft), Frigidaire (maker of an iconic line of refrigerators), and, since 1981, General Motors (GM).

When GM announced plans in June 2008 to close this plant, the development came as a blow to the local economy. Just think about the impact to suppliers and the distributors that get their business from them.  According to a report published by the International Economic Development Council, the Moraine region, with more than 90 GM suppliers in 14 surrounding communities, lost more than 800 jobs at larger suppliers in addition to the 4,200 jobs that were lost when GM shut down.

Within weeks of GM’s announcement, staff from the Chicago regional office of the U.S. Department of Commerce’s Economic Development Administration (EDA) began working with state and local officials in Ohio to develop a strategy to deal with the effects of the Moraine plant closure. As a first step, an EDA investment helped the city develop a bottom-up Comprehensive Economic Development Strategy (CEDS) to guide the region’s recovery efforts.

Secretary Locke, Senator Brown Highlight Effort to Boost Exports and U.S. Jobs in Ohio

Secretary Locke at microphone. Click for larger image.

U. S. Commerce Secretary Gary Locke traveled to Dublin, Ohio to talk to Americans about the administration’s plan to increase the sales of exports and support the creation of high-paying jobs through President Obama’s recently announced National Export Initiative (NEI). Locke was joined by Senator Sherrod Brown. Officials from the State and Agriculture Departments, the Office of the U.S. Trade Representative, the Export-Import Bank, and the U.S. Trade and Development Agency, also met with business leaders across the country to discuss the steps the Administration is taking to help businesses sell more U.S.-made goods and services abroad. (Remarks) (Release) (Export Promotion Cabinet release)

Secretary Locke Announces ARRA Grants to Expand Broadband Internet Access and Expand Economic Growth

Recovery Act logo. Click to go to Commerce Department Recovery Web site.

U.S. Commerce Secretary Gary Locke announced 23 American Recovery and Reinvestment Act (ARRA) investments to help bridge the technological divide, boost economic growth, create jobs and improve education and healthcare cross the country. The grants will increase broadband access and adoption in California, Florida, Georgia, Illinois, Indiana, Kansas, Louisiana, Massachusetts, Maryland, North Carolina, New Mexico, Ohio, Oregon, Puerto Rico, Tennessee, Texas, Wisconsin and West Virginia. (More)

Vice President Biden, Secretary Locke Announce Expansion of Manufacturing Initiative in Ohio

Ohio Gov. Strickland, Vice President Biden, Secretary Locke seated at table. Click for larger image.

White House Photo

Vice President Joe Biden and U.S. Commerce Secretary Gary Locke announced the expansion of the National Innovation Marketplace program, an initiative that will help revitalize supply chains and equip manufacturers to use emerging technology and find new market opportunities. Locke joined Biden, Ohio Governor Ted Strickland, and Auto Recovery Director Ed Montgomery at the vice president’s fifth meeting of the White House Task Force on Middle Class Families, reinforcing the administration’s commitment to innovation in American manufacturing. (More) (White House Press Release) (Middle Class Task Force Web Site)

Secretary Locke Announces Availability of $27 Million in Recovery Act Funding to Help Midwestern Communities

AARA logo. Click to go to www.Commerce.gov/Recovery.

U.S. Commerce Secretary Gary Locke announced the availability of $27 million in grants for Midwestern communities. These grants, made possible by the American Recovery and Reinvestment Act (ARRA), are available through the U.S. Commerce Department’s Economic Development Administration (EDA). The region targeted by the grants is coping with the downturn of the U.S. auto industry. The money will be available for communities and organizations in Michigan, Ohio, Indiana, Wisconsin, Illinois and Minnesota. (More) (Remarks) (Commerce.gov/Recovery)