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Blog Category: NEI

Exports, Foreign Direct Investment, and Greener Fuel to Jumpstart Georgia’s Economy

Image of Georgia biomass facility

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

As they search for opportunities to grow their economies and create jobs, no region in the United States can really choose to ignore the global marketplace—in fact, it just makes common sense. The latest export numbers bear this out: Since 2009, record-breaking levels of U.S. exports have supported an additional 1.2 million American jobs. And in March, the latest figures show that U.S. exports increased 2.9 percent, the largest increase since July 2011.

The benefits of increased engagement with world markets is something that the city of Waycross, Georgia, has experienced firsthand. In 2010, local authorities successfully concluded negotiations with a German energy firm, RWE Innogy, to build a new $135 million wood pellet manufacturing plant in the Waycross–Ware County Industrial Park. The pellets, which are produced from locally-sourced wood, are used as a cleaner-burning substitute for coal in the generation of electricity. A challenge was making sure that these pellets could be shipped quickly and cost effectively to major transportation hubs. A $1.3 million grant from the Economic Development Administration (EDA) resolved this by funding the construction of a new rail spur, ensuring that the pellets could be shipped to the port of Savannah and from there to overseas buyers.

Europe Travel Log: Secretary Bryson Takes Key Meetings in Dusseldorf and Visits Training Facility in Berlin, Germany

Consul General Janice G. Weiner; Commerce Secretary John Bryson; NRW Economics Minister Harry K. Voigtsberger; U.S. Ambassador to Germany, Philip D. Murphy.

Following his visit to Paris, France earlier this week, U.S. Commerce Secretary John Bryson visited Dusseldorf, Germany on Wednesday, before taking off for Berlin. Secretary Bryson is in Europe this week to meet with government and business leaders, reaffirm the United States’ commitment to lowering trade barriers, and encourage European businesses to invest in the U.S.

In the morning, Secretary Bryson led a roundtable discussion with key members of the U.S. and German business community, including representatives from UPS, FedEx, and the American Chamber of Commerce, among others, as well as the Economics Minister of North Rhine Westphalia. The group discussed successes and challenges in trade and investment, as well as opportunities for continued cooperation and public-private partnerships, such as the Commerce Department partnerships with FedEx and UPS, to promote exports and build greater awareness of Commerce programs and initiatives to help small businesses. Secretary Bryson took the opportunity to encourage further German investment in the United States, highlighting the attractiveness of the investment climate and resources for potential investors, including SelectUSA, the first coordinated effort by the U.S. government to attract new business investments to America.

Secretary Bryson Awards Presidential Export Honors to U.S. Exporters, Including 35 Small- or Medium-Sized Enterprises

Secretary Bryson delivers remarks, congratulates recipients

Thirty-five outstanding small- or medium-sized enterprises (SMEs) took center stage at the President’s “E” Awards ceremony at the White House today. This morning, Commerce Secretary John Bryson and Deputy Under Secretary of Commerce for International Trade Michelle O’Neill joined Senior Adviser to the President Valerie Jarrett to honor U.S. companies and organizations that have made significant contributions to increasing American exports. A total of 41 companies and organizations—the largest group to receive the award in the past twenty years—were honored at the ceremony, which marks the 50th annual “E” Awards.

Winners of the 2012 “E” award represent diverse communities across the country from places like Bakersfield, Calif., Baton Rouge, La., Bolingbrook, Ill., and Bradford, Pa. Of the honorees recognized at today’s ceremony, 35 are SMEs, 20 are manufacturers, and 17 are both.

“E” Award recipients contribute to the President’s National Export Initiative (NEI) goal of doubling U.S. exports in order to support American jobs. A key component of the NEI is ensuring that America’s small businesses have the tools, resources and relationships they need to make exporting a growing part of their business operations and creating jobs in the United States.

Department of Commerce and Environmental Protection Agency Announce New Initiative to Boost exports and Create Jobs

Secretary Bryson, second from right, poses with government and university officials

Today, at a Technology Market Summit held at American University, Commerce Secretary John Bryson and U.S. Environmental Protection Agency Administrator Lisa P. Jackson launched an environmental technology initiative to help create American jobs in the growing environmental industry.

The Environmental Technologies Export Initiative builds on President Obama’s National Export Initiative, which aims to double U.S. exports by the end of 2014 and support millions of American jobs.

As Secretary Bryson pointed out in his remarks at the event, the American environmental industry generates approximately $312 billion in revenues each year, with a global market of more than $800 billion. This growing industry employs nearly 1.7 million Americans and includes over 60,000 small businesses across the country.

The initiative will include a web-based tool, which is scheduled to be launched in the fall at export.gov. This will help environmental firms find the tools and information they need to sell their goods abroad.

Job Creation Through Export Development: EDA Commemorates World Trade Month

Logo: World Trade Center of Greater Philadelphia

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

In Commerce Secretary Bryson’s statement to mark World Trade Month, he discussed steps the Obama administration is taking to give “American workers and businesses a fair shot in the global economy by supporting trade agreements that will open up markets to U.S. companies, working to aggressively investigate unfair trade practices taking place anywhere in the world, and continuing to work to ensure that our workers and businesses are competing on a level playing field.” President Obama will issue a proclamation to commemorate World Trade Week, which falls in the third week of May, to expand on this commitment to promote U.S. exports.

Words like “partnering” and “leveraging” might seem abstractions at times, but when it comes to making investments that help U.S. businesses export, they are anything but. One excellent example of the effectiveness of partnering and leveraging the resources of multiple organizations is the “Job Creation through Export Development: Innovative Manufacturing and Service Program” of the World Trade Center of Greater Philadelphia (WTCGP). In 2010, the Commerce Department’s Economic Development Administration (EDA) invested $1 million to bolster the efforts of WTCGP to promote the global presence of the Southeastern Pennsylvania and South Jersey region. The initiative serves as a catalyst for regional economic growth and job creation in four sectors that have been targeted by the program as having high export potential: energy and environment, high technology and nanotechnology, biotech and life sciences, and education.

Secretary Bryson Declares May World Trade Month

Photo of manufacturing materials at Port of Baltimore)

Today, Commerce Secretary Bryson issued a statement in honor of May 2012 World Trade Month, which is marked annually by a series of state and local events across the country to promote U.S. trade relationships and provide resources to U.S. businesses looking to export their goods and services around the world.  World Trade Week, which falls in the third week of May, is recognized by a presidential proclamation annually.

Two years ago, the president set a goal of doubling our nation’s exports in five years through the National Export Initiative (NEI). On the second anniversary of the NEI, we announced that 1.2 million more Americans have export-supported jobs due to U.S. exports increasing by one-third from 2009 to 2011.  This is particularly good news because export-related jobs–like manufacturing jobs–pay higher than average.

To keep this momentum, this administration is committed to giving American workers and businesses a fair shot in the global economy by supporting trade agreements that will open up markets to U.S. companies, working to aggressively investigate unfair trade practices taking place anywhere in the world, and continuing to work to ensure that our workers and businesses are competing on a level playing field.

Secretary Bryson Talks about Turkish-American Economic Cooperation

Secretary Bryson and Members of the Confederation of Businessmen and Industrialists of Turkey

Today, U.S. Commerce Secretary John Bryson delivered keynote remarks at a luncheon co-hosted by the Center for American Progress and the Confederation of Businessmen and Industrialists of Turkey (TUSKON). The event, titled “Building on the Progress in Turkish-American Economic Cooperation,” comes at an exciting time in U.S.-Turkish relations, with bilateral trade reaching a record level of $20 billion this past year.

Turkey is the world’s-17th largest economy, and was the world’s second-fastest growing economy in 2011.

During his remarks, Bryson talked about the president’s National Export Initiative, which aims to double U.S. exports from 2010 to 2014. He noted that U.S. exports to Turkey have already doubled.

Over the past two years, the U.S. and Turkey have come together through the Framework for Strategic Economic and Commercial Cooperation. Secretary Bryson announced today that he plans to attend the next Framework meeting that will be held in Turkey in late June.

Secretary Bryson also emphasized the importance of stronger bilateral investment, including efforts such as SelectUSA.

Bryson ended his remarks by saying, “Let’s do everything possible to usher in a long and prosperous era–as the bonds between our two nations continue to grow in the 21st century.”

Secretary Bryson Announces 16 Companies Joining his First Trade Mission to India

Secretary Bryson Announces 16 Companies Joining his First Trade Mission to India (State Dept. image)

U.S. Commerce Secretary John Bryson today announced the 16 companies that will join him on a business development mission to India, his first as Commerce Secretary. During the mission, Secretary Bryson will meet with senior-level Indian government officials to advocate for U.S. export opportunities in India’s rapidly expanding infrastructure sector, and promote investment opportunities in America – both key priorities of the Obama Administration. The mission will take place March 25-30 with stops in New Delhi, Jaipur and Mumbai.  

The trade mission supports President Obama’s National Export Initiative goal of doubling U.S. exports by the end of 2014 to create more good-paying jobs. Last week, on the two year anniversary of the creation of the NEI, the Commerce Department released new data showing that jobs supported by U.S. exports increased by 1.2 million between 2009 and 2011, and the value of U.S. exports exceed $2.1 trillion for the first time in U.S. history. The mission also supports efforts to increase investment in the United States through SelectUSA, America’s first national investment advocacy program. In addition, the mission will promote a new national tourism strategy focused on creating American jobs by becoming even more welcoming to visitors from around the world.

“This mission builds on President Obama’s historic visit to India two years ago, when he said before the Indian Parliament that the U.S.-India relationship will be one of the defining partnerships of the 21st century. I couldn’t agree more,” said Bryson. “I am looking forward to connecting American business leaders to new opportunities in India’s rising infrastructure sector, and encouraging Indian businesses and individuals to invest in and visit the United States. India is one of the world’s fastest growing economies, and its large market presents an important opportunity for U.S. companies to sell their goods and services to some of the 95% of consumers who live beyond our borders and boost job creation at home.”  Full release

U.S.-Korea Trade Agreement Provides Opportunities for U.S. Export Businesses

Korea Trade Agreement Enters into Effect

The United States-Korea Trade Agreement (KORUS Agreement) enters into effect today, reducing tariffs on almost all U.S. industrial exports to South Korea and making it easier for U.S. exporters to successfully compete in the Korean market.

With the implementation of the KORUS Agreement, tariffs will immediately be eliminated on almost 80 percent of U.S. exports to Korea.

Tariffs will also be reduced on other industrial exports that are not made automatically duty-free—the average tariff rate on U.S. industrial exports to South Korea will be reduced from 6.2 percent to 1.1 percent. Most remaining tariffs will be eliminated within 10 years. In addition, the KORUS agreement will eliminate tariffs on nearly two-thirds of all U.S. agricultural exports to Korea. The Commerce Department’s International Trade Administration (ITA) can help exporters figure out when tariffs on their products will be reduced or eliminated (PDF).

The KORUS agreement means more trade for U.S. businesses and more jobs for American workers. The tariff reductions give U.S. exports a competitive advantage in the Korean market, creating new opportunities for companies to do business in South Korea and providing opportunities to expand the reach of their businesses.

For example:

  • Zeeland Farm Services, Inc. (ZFS) is a family-owned and operated agricultural and transportation business with over 200 employees. ZFS was able to break into the Korean market in 2008, and their annual sales revenues in exports to Korea have been around the $5 million mark. The base tariff rates on ZFS’s product categories range from three percent for cottonseed exports to eight percent for soybean meal exports. Under the KORUS agreement, all of these tariffs would immediately drop to zero, giving ZFS a competitive advantage in the Korea market.
  • iWood Eco Design is a Louisville, Kentucky-based manufacturer of custom wood-framed sunglasses. The company currently pays an eight percent tariff on its exports to Korea, Under the KORUS agreement, these sunglasses will enter the country duty-free, immediately creating cost savings for the company. Expedited customs clearance commitments in the pending trade agreement would also facilitate greater access to international delivery services.
  • Pipe Line Development Company (PLIDCO), a Cleveland, Ohio-based manufacturer of pipeline repair and maintenance fittings, currently employs approximately 100 employees. International markets, including Korea and other Asian markets, comprise 74 percent of PLIDCO’s export revenue. PLIDCO currently faces tariffs of up to eight percent on its exports to the Korea. These tariffs will be eliminated under the KORUS agreement, enabling PLIDCO to better compete with other top exporters to Korea, including those from the EU and Iran.

The KORUS agreement is also an important step toward meeting President Obama’s National Export Initiative (NEI) goal to double U.S. exports by the end of 2014. This commitment to supporting exports is one way the Commerce Department is working to support an American economy that’s built to last.

On the Two-Year Anniversary of the National Export Initiative Successes Abound

National Export Initiative

Guest blog post by Commerce Secretary John Bryson

Today marks the two-year anniversary of the signing of the Executive Order creating the National Export Initiative (NEI), when President Obama set the ambitious goal of doubling U.S. exports over five years.

To mark this anniversary, we released new data today showing that jobs supported by U.S. exports increased by 1.2 million between 2009 and 2011. Building on strong growth in 2010, exports supported approximately 9.7 million jobs in 2011 and the value of U.S. exports of goods and services exceeded $2.1 trillion for the first time in U.S. history.

This new data further confirms the good news that exports support an increasing number of American jobs. At the same time, it is also a reminder that we cannot afford to let up on our efforts to help U.S. businesses build it here and sell it everywhere. We must maintain the track record of the past two years and intensify our support of U.S. companies in selling their goods to the 95 percent of the world’s consumers who live beyond our borders by helping to create opportunities and a level playing field. We know that when American businesses and workers get a fair shot, they can compete and they can win.