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Blog Category: Secretary of Commerce Penny Pritzker

Data Driving Development: EDA Releases New Cluster Mapping Tool to Help Spur Regional Economic Growth

Data Driving Development:  EDA Releases New Cluster Mapping Tool to Help Spur Regional Economic Growth

Guest blog post by Jay Williams, Assistant Secretary for Economic Development

Earlier this week, U.S. Commerce Secretary Penny Pritzker announced the launch of the U.S. Cluster Mapping and Registry project, a national economic initiative based at Harvard Business School’s Institute for Strategy and Competitiveness and supported by the U.S. Economic Development Administration.  The U.S. Cluster Mapping and Registry project aims to strengthen U.S. competitiveness by understanding the economic performance of clusters and regions across the United States.

EDA staff gets inquiries daily from different organizations looking for grant information. Every community we speak with has a plan it is developing to spur economic growth and create jobs. Some are more fleshed out that others, but EDA’s advice is always the same: look at the resources in your community and make sure this project fits with the economic strengths of your area. In short, identify your regional clusters.

Clusters are geographic concentrations of interconnected industries and supportive organizations that make regions uniquely competitive for jobs and private investment – like the automotive cluster in the South and the biotech cluster in the Northeast. Clusters are not top-down formulas aimed at being a panacea for all economic development needs. Nor are they intended to serve as a litmus test for qualifying or strictly characterizing good or bad projects. Clusters thrive and are critical in both urban and rural communities and provide a framework for understanding regional competitiveness and drivers of private investment and job creation. They also help identify and prioritize opportunities for public investment and provide a platform for linking, leveraging, and aligning federal or state programs to get a better return on investment of taxpayer funds.

Secretary Pritzker Highlights Commerce Resources for New Hampshire Businesses

Secretary Pritzker addresses over 150 businesses at New Hampshire Business Day on Capitol Hill

Yesterday, U.S. Secretary of Commerce Penny Pritzker participated in the 4th Annual New Hampshire Business Day Luncheon, hosted by U.S. Senator Jeanne Shaheen. The event, which brought together nearly 200 community and small business leaders from New Hampshire, aimed to provide the business community with information about the resources available to them through federal programs and agencies. Secretary Pritzker was joined by Secretary of State John Kerry, U.S. Trade Representative Michael Froman, Department of Transportation Secretary Anthony Foxx, Department of the Interior Secretary Sally Jewell, SBA Administrator Maria Contreras-Sweet, National Economic Council Chairman Jason Furman, and FCC Chairman Tom Wheeler.

During the event, Secretary Pritzker shared her personal experience as a business owner for more than 25 years. Secretary Pritzker also highlighted U.S. Commerce Department tools and services available to New Hampshire businesses to help them grow and thrive.

For example, the Commerce Department has prioritized helping more businesses start exporting and expand their exports to new markets. Secretary Pritzker recently announced NEI/NEXT – the second phase of President Obama’s successful National Export Initiative (NEI) to help all businesses reach the 95 percent of consumers who live outside the United States. According to Commerce Data, an estimated 23,000 good-paying jobs in New Hampshire are supported by U.S. exports. NEI/NEXT will broaden and deepen the Department’s efforts to create an export-oriented business culture in New Hampshire and across the country.

In her remarks, Secretary Pritzker also talked about the Commerce Department’s efforts to support tourism, which is New Hampshire’s second-largest industry. Secretary Pritzker highlighted the President’s steps to increase the number of international travelers. International visitors contributed $139 billion to the American economy in 2013 and the United States has seen an increase of 15 million annual international travelers and this growth has supported roughly 175,000 American jobs. This increase means the United States is on target to attract a record 100 million international travelers a year by 2021, meeting an ambitious challenge to the nation laid out by President Obama two years ago.

The Commerce Department supports New Hampshire’s economic growth by directly investing in their communities, as well. The Department’s Economic Development Administration (EDA) provided a $400,000 grant in 2011 to help build the newly opened Regional Economic Development Center of Southern New Hampshire, which plans to house a business incubator, lending institution, and a training facility that will bring 1,500 jobs and $25.4 million in investment, according to the grantee.

The Manufacturing Extension Partnership in Concord, part of Commerce’s National Institute of Standards and Technology (NIST), also provides resources to New Hampshire manufacturers to deploy new technologies and reduce energy costs, among others. And Commerce’s National Oceanic and Atmospheric Administration’s (NOAA) Sea Grant College Program at the University of New Hampshire helps encourage both conservation and economic growth along the coastline.

The Commerce Department is committed to continue working to provide resources that help New Hampshire businesses create more jobs, innovate, and compete in today’s global economy.

Secretary Pritzker Affirms U.S. Support for Burmese Political and Economic Reforms

Good discussion on US business investment with Aung San Suu Kyi

As part of her week-long commercial diplomacy mission to Asia this week, U.S. Secretary of Commerce Penny Pritzker met today with supporters of Burma’s transition to democracy and the ongoing national peace process. At a roundtable with Burmese civil society leaders, she took the opportunity to learn more about the complexities of political and economic reform and to hear their concerns and views about future challenges for Burma.

In her remarks at the roundtable, Secretary Pritzker affirmed the United States’ commitment to supporting positive political and economic reforms in Burma. She urged the Burmese government to build on that progress by implementing measures that increase inclusive economic development and promote government transparency and accountability. Noting that a strong and vibrant civil society is critical to institutionalizing reforms and ensuring government accountability, Secretary Pritzker applauded the efforts of Burmese civil society leaders to advance citizen interests in pursuit of democracy.

The Commerce Department takes these issues very seriously. Since 2010, training in human rights, rule of law, and corporate social responsibility has been mandatory for Foreign Commercial Service Officers. Attention to these critical social issues not only strengthens the Department’s culture, but enhances its ability to support American companies as they expand overseas.

Secretary Pritzker First-Ever Commerce Secretary to Visit Burma

As the first-ever U.S. Commerce Secretary to visit Burma, Secretary Penny Pritzker today encouraged Burmese leaders to continue making positive political and economic reforms to bolster U.S. private sector interest in the region.

Secretary Pritzker met Burmese President Thein Sein and discussed the ways our two countries can continue working together to improve the U.S.-Burma commercial relationship. Pritzker also met with Vice President Nyan Tun and various Burmese ministers and outlined ways in which the Commerce Department can help Burma increase trade with U.S. firms.  She reassured the Burmese leadership that U.S. businesses want to be part of the solution as countries across the region look to support a growing middle class, develop world-class infrastructure, unleash sustainable energy, and invest in their futures.

U.S. companies have made significant investments in the ASEAN region, which reached nearly $190 billion in 2012. That is more than U.S. investment in all of the BRIC countries (Brazil, Russia, India, China) combined. ASEAN investment into the U.S. exceeds $27 billion and investment has grown over 1,400% and has increased 169% since 2001. The Asian Development Bank (ADB) estimates Burma’s GDP growth accelerated to 7.5 percent in 2013, and expects that growth to continue. As the economy in countries like Burma continues to open, there will be expansive opportunities for U.S. companies to export more goods and services, supporting the modernization and development that will improve the quality of life for citizens.

Secretary Pritzker was joined by a delegation of U.S. CEOs and the U.S.-ASEAN Business Council.  Earlier this week, the delegation visited Vietnam and the Philippines where Secretary Pritzker met with government and business leaders and entrepreneurs to discuss the Commerce Department’s priorities for increasing trade and investment in the region.

Secretary Pritzker’s trip to the Asia-Pacific region demonstrates the importance of the region to the Obama Administration and the U.S. business community, and our shared commitment to increasing U.S. commercial activity with countries in the ASEAN region.

Secretary Pritzker Meets with Philippine President Aquino, Trade and Industry Secretary Domingo, and Finance Secretary Purisima

Secretary Pritzker meets with Philippine President Benigno Aquino III

As part of a week-long commercial diplomacy trip to the Asia-Pacific region, U.S. Secretary of Commerce Penny Pritzker is in the Philippines to demonstrate the Obama administration's ongoing commitment to Asia. Along with members of the U.S.-ASEAN Business Council (USABC) and a delegation of U.S. CEOs, she is visiting the country to strengthen trade and investment and encourage deeper business-to-business ties.

The United States and the Philippines share a $24 billion per year trade relationship, one that was further bolstered by President Obama’s recent trip to the country in April. Today, Secretary Pritzker met with Philippine President Benigno Aquino III, and yesterday with Philippine Secretary of Trade and Industry Gregory Domingo and Finance Secretary Cesar Purisima, to build on that strong U.S.-Philippine relationship.

Secretary Pritzker congratulated President Aquino for his successful leadership and commended both Secretary Domingo and Secretary Purisima on the Philippines’ recent economic accomplishments and reforms, which have resulted in strong growth. In fact, the country has doubled its GDP growth rate from 3.6 percent in 2011 to 7.2 percent in 2013. In addition, Secretary Pritzker noted that the already strong trade relationship between the Philippines and the United States has continued to grow, with U.S. exports to the Philippines increasing over the past year.

During the meetings, Secretary Pritzker reaffirmed the United States’ commitment to the country and the ASEAN region and discussed opportunities for U.S. companies to support the Philippines’ infrastructure development needs, including the Clark International Airport. She also talked about outstanding U.S.-Philippine trade issues and steps the country could take to become an even more attractive destination for U.S. investment.

Secretary Pritzker Promotes Entrepreneurship in the Philippines

Secretary Pritzker Promotes Entrepreneurship in the Philippines

Innovation and entrepreneurship are key drivers of economic growth, in the United States and around the world. As part of her commercial diplomacy mission to the Asia-Pacific region this week with leading American CEOs, U.S. Secretary of Commerce Penny Pritzker participated in a roundtable with Philippine entrepreneurs to learn more about the business environment in the Philippines and discuss ways that the Obama Administration can support business creation. The roundtable was hosted by Kickstart, a startup incubator, and IdeaSpace, a non-profit that supports technology entrepreneurs.

Two months ago, Secretary Pritzker launched the Presidential Ambassadors for Global Entrepreneurship (PAGE) initiative, which President Obama announced last fall. PAGE is a partnership between U.S. government and the private sector to inspire business creation in the United States and around the world.  As the inaugural members of PAGE, 11 successful American entrepreneurs committed to traveling the world to provide access to mentorship, education and other opportunities for aspiring entrepreneurs.

Today’s roundtable is part of a series of discussions that Secretary Pritzker is holding to learn more about the opportunities for new business creation, as well as the obstacles that entrepreneurs face in different countries.  During the Secretary’s trade mission to the Middle East in March, she sat down with 15 Saudi entrepreneurs in Riyadh and learned about their plans for growth and what they needed to foster an entrepreneurial community. Also, two weeks ago, she visited an incubator where Ghanian entrepreneurs were developing businesses that served customers in the United States and Europe. These forums are an invaluable chance for the Secretary to learn about barriers to things like capital and education.

Secretary Pritzker's trip demonstrates that United States is firmly committed to deepening U.S. engagement with the Asia-Pacific region, and recognizes that there is tremendous opportunity for mutually-beneficial growth in the ASEAN region. By helping to remove barriers to new business creation, the Commerce Department is working to unlock the entrepreneurial spirit that will generate prosperity for both the Philippines and the United States.

Promoting Opportunity for All Americans Through Mentoring

Last week, U.S. Commerce Secretary Penny Pritzker participated in a Cabinet discussion with President Obama on My Brother’s Keeper – an initiative designed to address persistent opportunity gaps faced by boys and young men of color and ensure that all young people can reach their full potential. The President’s My Brother’s Keeper Task Force also released their first progress report with initial recommendations to the President, as well as a blueprint for action by government, business, non-profit and community partners. 

Since its launch in February 2014, the President’s Task Force has met with and heard from thousands of Americans who are already taking action on this front. Further, businesses, cities, organizations and individuals have made commitments to helping youth get a strong start in school and later connect them to support networks and specialized skills they need to find a good job or go to college and work their way up into the middle class.
 
In developing its recommendations, the Task Force identified key milestones in the path to adulthood that are especially predictive of later success, and where interventions can have the greatest impact. These recommendations included:
 
·         Getting a health start and entering school ready to learn;
·         Reading at grade level by third grade;
·         Graduating from high school ready for college and career; 
·         Completing post-secondary education or training;
·         Successfully entering the workforce; and
·         Keeping kids on track and giving them second chances.
 
Specific report recommendations also include launching a public-private campaign to recruit mentors for youth and improve the quality of mentoring programs, and to increase awareness about youth summer employment and use of pre-apprenticeships as good entry-level jobs.  

U.S. Secretary of Commerce Penny Pritzker Discusses Trade Ties with Vietnamese Government Leaders

Secretary Pritzker with members of the U.S.-ASEAN Business Council in Vietnam

Yesterday U.S. Secretary of Commerce Penny Pritzker was in Vietnam on the first leg of her Asia commercial diplomacy trip. Along with the U.S.-ASEAN Business Council (USABC) members and a delegation of U.S. CEOs, she is visiting Vietnam, as well as the Philippines and Burma later this week, to strengthen trade and investment and encourage deeper business-to-business ties and demonstrate the Obama administration's ongoing commitment to Asia.  

As part of this trip, Secretary Pritzker met with several government leaders to discuss opportunities for U.S. companies to do more business in Vietnam. This afternoon Secretary Pritzker met first with her counterpart Vu Huy Hoang, the Vietnamese Minister of Industry and Trade. The Secretary and the Minister discussed of ways to increase economic engagement between the US and Vietnam, specifically speaking about the investment climate for US firms and trade relations relations and the United States’ commitment to concluding the Trans-Pacific Partnership (TPP) negotiations. Secretary Pritzker and Minister Hoang then met with the USABC CEO delegation and talked about the U.S. private sector’s commitment to Vietnam.

Secretary Pritzker then met with Vietnamese Prime Minister Nguyen Tan Dung and reaffirmed President Obama’s commitment to opening a new phase of bilateral relations with Vietnam.  After discussing outstanding bilateral economic, trade and investment issues, the leaders were joined by the USABC delegation for a conversation about enhancing commercial ties between the United States and Vietnam and throughout the ASEAN region. 

Reliable Electricity and Energy Independence: Exporting Game Changing U.S. Developed Solar Energy Storage Technology to West Africa

U.S. Secretary of Commerce Penny Pritzker and Alistair Jessop, Senior Vice President, Development, SolarReserve

Guest blog post by Alistair Jessop, Senior Vice President, Development, SolarReserve

SolarReserve has participated in two extremely well-organized and worthwhile business development trade missions led by U.S. Secretary of Commerce Penny Pritzker. The first mission was in March to the Middle East, focusing on export opportunities for U.S. companies in the infrastructure sector, including renewable energy. Based on the great success of the Middle East mission, the company enthusiastically joined Secretary Pritzker on a second mission – this time the destination was West Africa.

SolarReserve is a leading worldwide developer of utility-scale solar and hybrid power projects which include advanced solar thermal technology. We have more than $1.8 billion of projects in construction and operation, of which $800 million are in Southern Africa. Our aim for the West Africa trade mission was to better understand the renewable energy goals, requirements and timelines of both Ghana and Nigeria with a hope to form relationships with key decision makers and form strong long-term joint venture relationships with local companies.

SolarReserve’s world-leading, US-developed, patented solar thermal technology with integrated molten salt storage has the potential to provide both Ghana and Nigeria a cost-effective, reliable, on-demand, zero emission supply of electricity. This solar thermal technology (which can be delivered either alone or coupled with photovoltaics), can provide a cost effective 24/7 reliable alternative to fossil fuel generation with the enormous benefit of zero emissions.  This technology could make a huge difference in countries across Africa, with regular power cuts affecting both Ghana and Nigeria’s national productivity as well as the lifestyles of those living in these countries. It’s not surprising we find boundless enthusiasm in the region for reliable renewable energy alternatives.

The high calibre of the meetings was incredible, with access to top level government officials and decision makers. One particular high point during the mission in Ghana was meeting John Dramani Mahama, the Ghanaian President, where the group were given the opportunity to ask direct and frank questions - and received clear and fair responses. It was remarkable to have this level of access to the President and a number of the cabinet ministers, and to be able to talk frankly about business opportunities and issues. We left these meetings with confidence in doing business in Ghana.

U.S. Secretary of Commerce Penny Pritzker Leads CEO Mission to Show U.S. Commitment to Asia

The United States is committed to its commercial relationship with Asia. The U.S. economic engagement strategy in the Asia-Pacific region has three key pillars: strengthening partnerships with long-established trading partners, helping develop the “hard” and “soft” infrastructure that moves goods and people, and building and strengthening regional mechanisms that promote a level playing field for all of our businesses. Recognizing that there is tremendous opportunity for mutually-beneficial growth in the Association of Southeast Asian Nations (ASEAN) region, the Commerce Department is focused on strengthening the trade relationship between the U.S. and ASEAN, and encouraging even deeper business-to-business ties.

As part of these efforts, next week U.S. Secretary of Commerce Penny Pritzker will join a delegation of U.S. CEOs and the U.S.-ASEAN Business Council on a trip to Vietnam, Burma, and the Philippines. These economies present enormous opportunity for U.S. businesses, and the trip is a huge step not only in furthering commercial ties, but also in advancing our overall relationship.

The delegation will stop first in Vietnam, where Secretary Pritzker will meet with government leaders and entrepreneurs to discuss the Commerce Department’s priorities for increasing trade and investment in the region. Vietnam’s economy is experiencing sustained growth following a rapid rate of expansion in the last decade. Energy is one industry sector with a number of opportunities for U.S. businesses in Vietnam. An upcoming reverse trade mission with the U.S. Trade and Development Agency (USTDA) will connect U.S. companies with leaders in Smart Grid development and implementation. General Electric is already finding success in the country, signing a $94 million contract to bring 52 wind turbines to the Mekong Delta. This deal will support 245 U.S. jobs, and was supported by the International Trade Administration’s Advocacy Center

From Vietnam, the delegation will head to the Philippines, where Secretary Pritzker will deliver remarks on America’s economic engagement in the Asia Pacific region, as well as meet with government and business leaders. The economy in the Philippines has shown much resilience despite tragic natural disasters and volatile financial markets. Economic growth has been consistent during the last two years and is projected to remain so through 2016. Reconstruction efforts could lead to acceleration in the economy and present business opportunities for American companies with experience in sectors like construction and infrastructure.

The trip will wrap up with a final stop in Burma, where Secretary Pritzker will affirm the United States’ support for positive political and economic reforms in meetings with civil society leaders, government officials, and the Burmese business community. The Asian Development Bank (ADB) estimates Burma’s GDP growth accelerated to 7.5 percent in 2013, and expects that growth to continue. Business confidence also is improving, as reflected in a rapid increase in new business registrations – both domestic and foreign-owned. As the country develops, it is well positioned to leverage modern technology available from U.S. firms. U.S. exports to Burma have ranged from electrical machinery, optical and medical equipment, vehicles, and other machinery. As the economy continues to open in Burma, there will be expansive opportunities for U.S. companies to export more goods and services, supporting the modernization and development that will improve the quality of life for Burmese citizens.