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Obama Administration Announces CEOs for U.S.-Brazil CEO Forum

U.S. Secretary of Commerce Penny Pritzker and Deputy National Security Advisor for International Economic Affairs Caroline Atkinson today announced the U.S. private sector members who will serve the next term on the U.S.-Brazil CEO Forum. The Forum will meet during the State visit of Brazilian President Dilma Rousseff to Washington, D.C., in October and will provide joint recommendations to both presidents on opportunities to advance the U.S.-Brazil bilateral relationship. Pritzker and Atkinson will co-chair the ninth meeting of the CEO Forum along with Brazilian Presidential Chief of Staff Minister Gleisi Hoffmann and Minister of Development, Industry and Foreign Trade Fernando Pimentel. 

“During his recent trip to Brazil, Vice President Biden asked what the United States and Brazil can do together. The U.S.-Brazil CEO Forum seeks to answer that question through a public-private dialogue in which business leaders from the United States and Brazil make recommendations to the highest levels of our respective governments about the future of our bilateral economic and commercial relationship,” said Secretary Pritzker. “I am looking forward to meeting the new and returning CEOs along with both Ministers Pimentel and Hoffmann and Deputy National Security Advisor Atkinson to discuss issues of mutual interest.”

 The Forum has had success opening discussions between the United States and Brazilian governments on a number of important issues, including visa reform, aviation, and education, and was instrumental in concluding the recent U.S.-Brazil Tax Information Exchange Agreement.

Secretary Pritzker Discusses Power of Immigration Reform to Drive Florida’s Economy

National Entrepreneur Center Welcomes Secretary Penny Pritzker

Secretary Pritzker visited Orlando, Florida, today as part of her overall listening tour to hear directly from business leaders on how the public and private sectors can work together to strengthen the economy and create American jobs.

While in Orlando, Secretary Pritzker met with local business leaders on the need to pass comprehensive immigration reform, which is key to the country’s economic growth. She shared her story as an entrepreneur coming from a family of entrepreneurs, including her great-grandfather who emigrated from Russia to the United States.

Pritzker referenced a recent White House report citing the Economic Benefits of Fixing Our Broken Immigration System. The value of immigrants to the American economy cannot be understated. More than 40% of Fortune 500 companies were founded by immigrants or their children. One-fourth of U.S. Nobel Prize winners over the years have been foreign-born. While immigrants account for only about 13% of the U.S. population, they start about 28% of all new businesses, according to an analysis of Census Bureau data.

Florida businesses were very aware of the power of immigrants to drive an economy. Nearly one-fourth of the labor force is foreign-born and about 30% of business owners are immigrants who generate over $13 billion in annual income. Through reform, it’s estimated that Florida’s economic output would increase next year by $1.8 billion and create 22,000 new jobs. According to one model, reforms in the Senate bill including a pathway to earned citizenship and an expansion of high-skilled and temporary worker programs would increase personal income for Florida families by over $6.5 billion in 2020.

Secretary Pritzker Visits Universal Studios Orlando and Speaks with Leading Executives of Travel and Tourism Companies

Secretary Penny Pritzker at Universal Studios Wizarding World of Harry Potter with COO Bill Davis (left) and John Sprouls, Executive VP (right)

Today, as part of her nationwide listening tour, Secretary Penny Pritzker toured Universal Studios Orlando with Bill Davis, President & COO, Universal Orlando and John McReynolds, SVP External Affairs, Universal Parks and Resorts and held a roundtable with Presidents and CEOs of local travel and tourism companies. Orlando is home to a vibrant travel and tourism industry that doesn’t contribute just to the state of Florida’s economy, but to the nation’s economy as a whole. In fact, international travel is the country’s largest service export with the travel and tourism industry accounting for nearly $1.4 trillion to the U.S. GDP and providing more than 7.5 million jobs for American workers, according to the Department of Commerce.

According to the Orlando Tourism Bureau, in 2011, Orlando benefited from $31.7 billion in visitor spending. Orlando was the fifth most visited U.S. city in 2011 with 2.8 million international visitors and Florida ranked third among states in 2011 with 5.7 million international visitors.

During the roundtable, Secretary Pritzker not only discussed the value of the travel and tourism industry to the overall American economy, but also the key role the Commerce Department plays in supporting and promoting the United States as the premier destination for international travelers. In fact, the Department’s NOAA manages the nation’s marine sanctuaries – a great destination for marine life lovers and history buffs.

Commerce Agencies Participate in Hurricane Sandy Rebuilding Task Force

Hurricane Sandy Rebuilding Task Force

President Obama’s Hurricane Sandy Rebuilding Task Force, chaired by Housing and Urban Development (HUD) Secretary Shaun Donovan, released a rebuilding strategy to serve as a model for communities across the nation facing greater risks from extreme weather and to continue helping the Sandy-affected region rebuild.  The Commerce Department made significant contributions to the Rebuilding Strategy containing 69 policy recommendations that will help homeowners stay in and repair their homes, strengthen small businesses and revitalize local economies and ensure entire communities are better able to withstand and recover from future storms. 
 
The Rebuilding Strategy includes policy recommendations that will have a significant impact on how the region rebuilds and how we will improve our ability to withstand and recover effectively from future flood-related disasters across the country.

Federal agencies collected and disseminated vast quantities of scientific data that aided Hurricane Sandy preparation, response, and recovery. Interagency data sharing has been central to this process. Before the storm, the Commerce Department's National Oceanic and Atmospheric Administration (NOAA) worked with FEMA to deliver Geographical Information System (GIS)-ready storm surge depth grids and forecasts. After the storm, FEMA, state, and local emergency managers used aerial imagery collected by NOAA to guide evacuations, monitor local conditions, assess damages, and allocate response resources. Hours after the storm passed, NOAA also began surveying the waterways that lead to critical petroleum facilities within the Port of New York/New Jersey, helping to ensure safe navigation and restoring the flow of emergency fuel supplies by morning. Within five days, NOAA, working with the Coast Guard and Army Corps, restored maritime commerce, including transportation of food, fuel, and rebuilding supplies, to all major ports in the affected region.

Fostering Technology Transfer and Entrepreneurship

Green Technology and Advanced Manufacturing Showcase

This week the National Institute of Standards and Technology (NIST) welcomed dozens of representatives from Maryland businesses to learn about collaboration and technology licensing opportunities at a “Green Technology and Advanced Manufacturing Showcase.” The event was hosted by the Maryland Technology Development Corporation (TEDCO), an independent organization that provides entrepreneurial business assistance and seed funding for the development of startup companies in Maryland.

In a 2011 Memorandum, President Obama wrote, “Innovation fuels economic growth, the creation of new industries, companies, jobs, products and services, and the global competitiveness of U.S. industries. One driver of successful innovation is technology transfer, in which the private sector adapts federal research for use in the marketplace.”

The memo instructed agencies to take steps to enhance successful technology innovation networks by fostering increased federal laboratory engagement with external partners. TEDCO is one of the partners working with NIST to foster tech transfer and its economic benefits.

Attendees at today’s event learned about the Hollings Manufacturing Extension Partnership, which supports small- and mid-size manufacturers across the U.S.; how to work with NIST; and technologies available for license from NIST’s Engineering and Material Measurement laboratories.

Investing in Our Economic Future: SelectUSA 2013 Investment Summit

SelectUSA 2013 Investment Summit Logo

Guest post by Mara Lee, Deputy Director of Public Affairs at the International Trade Administration. Cross post from Tradeology.gov, the official blog of the International Trade Administration

You don’t have to look far to find something in your life that is produced by an international company operating in the United States. It might be the dishwasher in your kitchen, the brake pads on your car, or the elevator in your apartment building.

You also won’t have to look far to find jobs supported by foreign direct investment (FDI) in the United States. There are more than five million of them throughout the country, covering every state in both rural and urban communities.

Those are five million reasons why FDI is an important ingredient in the recipe for continued economic growth in the United States.

President Obama has made it a priority to attract more FDI to the United States, helping support more jobs and economic growth. A key tool in his efforts is the upcoming SelectUSA Investment Summit.

The Summit will connect global investors with U.S. leaders who are ready to showcase local investment projects. Economic development organizations from 15 states have already confirmed attendance at the event, offering myriad investment opportunities around the country.

Secretary of Commerce Penny Pritzker also announced an impressive lineup of government and business leaders to share important lessons about the advantages of investing in the United States – advantages ranging from our educated workforce, our relatively low energy costs, and the long history of ingenuity, innovation, and entrepreneurship that is synonymous with the “Made in America” label.

U.S. Department of Commerce Announces $2.5 Million in Investments to Strengthen Innovation and Economic Growth Initiatives

U.S. Secretary of Commerce Penny Pritzker announced the winners of the U.S. Economic Development Administration’s (EDA) 2013 University Center Economic Development Program Competition. EDA is providing a total of $2.5 million in grants to 19 colleges and universities in 10 states to run five-year programs that will leverage university assets to promote American innovation and strengthen regional economies. This year’s competition was open to higher education institutions in states supported by EDA’s Austin and Denver regional offices.

“These EDA investments in University Centers are examples of the Obama administration’s commitment to public-private partnerships with higher education institutions that help America stay innovative and competitive in the 21st century,” said Secretary Pritzker. “These 19 grants will help colleges and universities throughout the country support regional entrepreneurship and job creation that are vital to boosting economic growth.”

EDA-funded University Centers provide business solutions and technical assistance to public- and private-sector organizations, and conduct other activities with the goal of enhancing regional economic development. They offer a full range of services tailored to each region’s needs and the institution’s strengths. University Center business solutions include basic and applied research, market research, feasibility studies, product development, strategic and financial planning, seminars and training, and management consultations. These services enhance business productivity, streamline operations, increase quality, and cut costs.  Release

NOAA Acting Administrator Addresses Climate Change and Prevalence of Extreme Weather Events

NOAA Acting Administrator Addresses Clean Energy Summit

Yesterday, Dr. Kathryn Sullivan, acting administrator of NOAA, participated in the 6th annual Clean Energy Summit in Las Vegas, NV. Dr. Sullivan was part of a panel to discuss extreme weather and climate change.

NOAA, part of the U.S. Commerce Department, strives to not only understand the science behind climate change, but how decision makers can apply that science to inform operations, preparedness, and future planning. Business and industry get it. They understand that the planet is changing, and they rely on NOAA's climate research, products and services to make sound business decisions, both for their economic outlook and their resilience to extreme events.

During the panel, Dr. Sullivan talked about the unique role the federal government plays in developing and maintaining the expansive observational systems that provide insights into our changing planet. NOAA's science is showing a link between climate change and the prevalence of extreme weather events.  For example, 2012 had the most broken records for temperature for a one year period. New and continued research helps scientists the probability of extreme events change in response to global warming.

NOAA satellites and ground stations provide a wealth of weather data generating an entire economic sector that today includes the Weather Channel, commercial agricultural advisory services, and new insurance options.  In addition, Commerce Department economic data help small businesses make important key business decisions such as where to locate, where to manufacture a product and where to sell that product.  This use of Commerce data is an example of the power of open data and private sector entrepreneurship that benefits all Americans and creates new jobs.

NOAA's ability to provide "whole earth" understanding informs decisions for all industries and communities. Understanding and applying data promotes resilience in our communities and our economy.

U.S. Secretary of Commerce Announces First Business Development Mission to Mexico

Secretary of Commerce Penny Pritzker recently announced that she will lead her first business development mission to Mexico City and Monterrey, Mexico from November 18-22, 2013. This mission will promote U.S. exports to Mexico by helping export-ready U.S. companies launch or increase their business in a number of key industry sectors, including: advanced manufacturing, information and communications technology, and health IT and medical devices.

In announcing the mission, Secretary Pritzker said, “Exports are an essential component for spurring growth and creating jobs in America. The United States and Mexico have strong business ties and increasing opportunities for trade and collaboration between our two nations will help bolster economic success across our border.” 

Earlier this summer, President Obama and President Peña Nieto met to underscore and discuss the strategic importance of the bilateral relationship between the United States and Mexico. In so doing, they noted the potential for mutual economic gains by strengthening commercial ties between our countries.

Secretary Pritzker Completes Third Leg of National Listening Tour

Phot of Prizker touring the EC

Today, U.S. Secretary of Commerce Penny Pritzker wrapped up the third leg of her nationwide listening tour, during which she is traveling across the country to meet with businesses and thought leaders, entrepreneurs, academics and Department of Commerce employees. While in Nashville, Tenn. and Pella and Des Moines, IA, she heard from various groups and industry representatives about their priorities, concerns and ideas on how the public and private sectors can work together to strengthen the economy and create American jobs.

“Nashville, Pella, and Des Moines epitomize the entrepreneurial spirit that is driving economic development and job creation in the United States,” said Secretary Pritzker. “From leveraging the creative economy to making investments in advanced manufacturing, businesses in these states are getting it right. As I continue my listening tour over the next few weeks, I’m looking forward to hearing more from businesses and entrepreneurs about how the Department can serve as a bridge to the business community to protect, promote, inform and anticipate what America needs to be competitive and innovative in the 21st century.”

In Nashville, Secretary Pritzker visited the Entrepreneur Center, a nonprofit business incubator that helps connect entrepreneurs with investors, mentors and resources that are crucial to accelerating the launch of their startup businesses. While at the EC, Secretary Pritzker toured the facilities with its president and CEO Dr. Michael Burcham and met with facility staff and young entrepreneurs working in a wide variety of fields, and heard how funds from a grant from the Department’s Economic Development Administration enabled them to expand capacity three-fold. The secretary was also joined by the team from Commerce’s Minority Business Development Agency’s (MBDA) regional office in Memphis, and encouraged collaboration between MBDA and the entrepreneurs who work with the center.

Secretary Pritzker then headed to Iowa where she visited Jaarsma Bakery and toured operations at Vermeer Corporation in Pella. Over its 65 year history, Vermeer has grown to become competitive on a global scale, earning a Presidential award for exports, in recognition of their efforts to increase exports. Vermeer serves customers with forage, specialty excavation, environmental and underground equipment products to more effectively and responsibly work farms and ranches, improve infrastructure, and manage natural resources. She also visited Dwolla, Inc. and the Iowa State Fair.

Full release