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Blog Category: Secretary of Commerce Penny Pritzker

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.

U.S. Patent and Trademark Office Selects San Jose City Hall as Permanent Space for Silicon Valley Satellite Office

View of exterior of City Hall (credit: Atsuke)

Today, the U.S. Patent and Trademark Office (USPTO) announced that the San Jose City Hall building will be the permanent location for the USPTO’s Silicon Valley satellite office, and is scheduled to open by the end of 2014.

The selection of a permanent USPTO office in the Silicon Valley is a key part of the Commerce Department and Obama administration’s efforts to strengthen American innovation. As a driver of U.S. competitiveness and job growth, promoting and strengthening innovation is a major priority in U.S. Commerce Secretary Penny Pritzker’s “Open for Business Agenda,” which was launched last week.

The USPTO plays a vital role in helping protect cutting-edge, American ideas that drive our economy and keep the U.S. globally competitive. The satellite offices specifically advance the Department’s innovation agenda by helping entrepreneurs get their products to market more quickly, provide tailored resources to local start-ups and industries, and create good paying, high-skilled jobs.

Secretary Pritzker Outlines Bold Policy Agenda Focused on U.S. Trade and Investment, Innovation, and Data

Secretary Pritzker Outlines Bold Policy Agenda Focused on U.S. Trade and Investment, Innovation, and Data

Secretary of Commerce Penny Pritzker today outlined a bold new policy agenda for the Department of Commerce, centered on U.S. trade and investment, innovation, and data.  This “Open for Business” Agenda reflects the department’s role as the voice of business, and the Obama Administration’s focus on economic growth and job creation. Additionally, this new vision recognizes the demands of a globally competitive economy.

Among the new initiatives Secretary Pritzker announced are a revitalized National Export Initiative, an enhanced and expanded program to attract foreign investment, a first-of-its-kind, Commerce effort to ensure skills training programs meet industry needs, and a focus on public-private partnerships that enable businesses and communities to make better use of government data.

Secretary Pritzker also committed to leading a robust environmental agenda at Commerce, and to ensuring that operational excellence and public accountability are top priorities of departmental leadership. 

Watch Secretary Pritzker Unveil Her New Strategic Vision and Top Priorities for the Department of Commerce

Please tune in today, as U.S. Secretary of Commerce Penny Pritzker unveils her new strategic vision and top priorities for the Department of Commerce in a speech at 1776 in Washington, D.C.

The event will be webcast below. You can follow the conversation on Twitter using the hashtag #OpenForBusiness.

Shortly after the event, Secretary Pritzker will take questions via Facebook from 12:15-12:45 pm Eastern time. We encourage you to participate by visiting the Department of Commerce’s official Facebook page and asking her a question about the Department’s priorities and the Obama administration’s efforts to spur economic growth and job creation.

 

Secretary Pritzker Announces Winners of the 2013 Baldrige National Quality Award

Three U.S. Organizations Honored with the 2013 Baldrige National Quality Award

U.S. Commerce Secretary Penny Pritzker today announced that three U.S. organizations will receive the 2013 Malcolm Baldrige National Quality Award, the nation's highest Presidential honor for performance excellence through innovation, improvement and visionary leadership. All of this year's winners are from the health care and education sectors.

The 2013 Baldrige Award recipients—listed with their category—are:

The Baldrige program has had a tangible impact on the success of thousands of organizations worldwide and our nation's economy, and the winners announced today will undoubtedly continue that legacy and serve as role models for their peers in the health care and education sectors.

The 2013 Baldrige Award recipients were selected from a field of 22 applicants that were evaluated rigorously by an independent board of examiners in seven areas defined by the Baldrige Criteria: leadership; strategic planning; customer focus; measurement, analysis and knowledge management; workforce focus; operations focus; and results. An organization may compete for the award in one of six categories: manufacturing, service, small business, health care, education and nonprofit (including government agencies).

Secretary Penny Pritzker Returns to Chicago for First Official Visit

Secretary Penny Pritzker Returns to Chicago for First Official Visit

U.S. Secretary of Commerce Penny Pritzker returned to Chicago yesterday, making her first visit to her hometown in her official capacity as head of the Department.
 
Speaking at an event hosted by Google and World Business Chicago, a public-private partnership that seeks to foster private sector growth and jobs through the advancement of a business-friendly environment, Secretary Pritzker delivered remarks and participated in a “fireside chat” with Chicago Tribune reporter Melissa Harris.

She focused on the Obama administration’s efforts to grow the economy and create jobs, as well as some of her top priorities going forward: the need to invest in infrastructure, help workers develop skills for 21st century jobs, reform the immigration system and support R&D and innovation.
 
As Secretary Pritzker noted, infrastructure is critical to the economy. Unfortunately, the United States has deferred trillions of dollars in infrastructure investment over the years. Under President Obama’s leadership, however, the United States has improved 350,000 miles of roads, 6,000 miles of rail, and 20,000 bridges. The Commerce Department has deployed more than 100,000 miles of broadband since 2009.

SelectUSA Investment Summit Concludes with a Focus on Forging Stronger Global Business Alliances

SelectUSA Investment Summit Concludes with a Focus on Forging Stronger Global Business Alliances

Secretary of Commerce Penny Pritzker wrapped up the inaugural SelectUSA 2013 Investment Summit this afternoon, following two high-impact days of meetings and discussions among senior government officials, major business executives, global economic experts and U.S. economic development officials about strategies to increase foreign direct investment (FDI) in the United States.

Secretary Pritzker also opened the final day of the Summit, where she announced changes to the eligibility requirements for the Manufacturing Council that will allow representatives from U.S. subsidiaries of foreign-owned or controlled firms to become members. The expanded eligibility rules will add new perspectives to the Council, which advises the Commerce Secretary on policies and initiatives to increase FDI in the U.S. manufacturing sector, including SelectUSA.

U.S. Secretary of State John Kerry delivered remarks focused on deepening U.S. economic alliances around the world. Following his address, U.S. Trade Representative Michael Froman moderated a panel with Tennessee Governor Bill Haslam, BMW North America CEO Ludwig Willisch, and Caterpillar CEO Doug Oberhelman on how global companies can use their U.S. operations as an export platform by taking advantage of free trade agreements and bilateral investment treaties. 

Watch the SelectUSA 2013 Investment Summit (Day One)

View the archived webcasts here.

  • Secretary of Commerce Penny Pritzker's Welcoming Remarks
  • Secretary of the Treasury Jack Lew's view of the U.S. and Global Economy
  • Plenary: Why Select the USA: Perspectives on Investing and Operating in the United States
  • President Barack Obama Keynote Remarks

Secretary Pritzker Declares America is Open for Business

Secretary Pritzker Declares America is Open for Business

U.S. Secretary of Commerce Penny Pritzker today launched the inaugural SelectUSA 2013 Investment Summit, telling the more than 1,200 attendees from nearly 60 countries, 47 states, the District of Columbia and three U.S. territories that the United States is open for business. The first-ever event is connecting foreign and domestic investors with local, state and regional economic development organizations to promote investment and job creation in the United States.

“The SelectUSA Summit is all about business. It’s all about connecting investors with communities,” Commerce Secretary Pritzker told the audience. “We want to open that first door to making an investment here in the United States. Clearly, our investment climate is strong. America is open for business.”

For centuries, the U.S. has welcomed investment into the country and the domestic market has provided long-term stability and unmatched returns for investors. Today, the U.S. is the largest recipient of FDI in the world. Last year alone, foreign direct investment was more than $160 billion dollars and the total foreign stock and assets are measured not in billions, but in the trillions of dollars.

Also at the Summit, the Department of Commerce and the President's Council of Economic Advisers released a report outlining the reasons businesses consider the U.S. a top choice for investment,  as well as the economic benefits of foreign direct investment. Significantly, the report points out that the United States is the largest recipient of FDI in the world, with stock of more than $2.6 trillion dollars – including $166 billion that flowed into the country in 2012. The report recommends that the U.S. should continue to "nurture and build upon the underlying strengths of the U.S. economy that make firms want to invest here; including an open investment regime, a large economy, a skilled labor forced, community colleges, world-class research universities, predictable and stable regulatory regime, adequately capacitated infrastructure, and new energy sources." 

U.S. Secretary of Commerce Penny Pritzker Works to Encourage North American Economic Cooperation

U.S. Secretary of Commerce Penny Pritzker met with her Mexican and Canadian counterparts, Canadian Minister of International Trade Ed Fast and Mexican Secretary of Economy Ildefonso Guajardo

The United States, Mexico and Canada have come a long way since NAFTA launched a new era of commerce across the continent nearly 20 years ago. The trilateral relationship now accounts for more than $1 trillion in trade each year. In fact, each day, the United States conducts $3 billion dollars in trade with Canada and Mexico. 

Yesterday, at the North American Competitiveness and Innovation Conference (NACIC) in La Jolla, Calif., U.S. Secretary of Commerce Penny Pritzker met with her Mexican and Canadian counterparts, Canadian Minister of International Trade Ed Fast and Mexican Secretary of Economy Ildefonso Guajardo, to discuss how all three countries can continue to work together to promote mutual economic growth and prosperity. 

In a joint statement, the ministers pledged to work together to keep the region competitive and help North American businesses and workers succeed through enhanced regulatory cooperation and coordinated efforts to facilitate increased trade, including the ongoing Trans-Pacific Partnership negotiations.

North America is already one of the most attractive places for businesses to invest and create jobs. More than 460 million consumers live in the region. Combined, the U.S., Canada and Mexico account for one-quarter of the world’s GDP. North America is a source of abundant and affordable energy, is home to a skilled workforce, and has made tremendous investments in research and development.