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U.S. Exports Set Records in 2013

U.S. Exports Set Records in 2013 infographic

The United States is the world’s largest exporter and importer of goods and services, and the world’s largest recipient of foreign direct investment (FDI). Trade and investment are critical to the prosperity of the world’s largest economy. They fuel our economic growth, support good jobs—and spread the delivery of ideas, innovation, and American values. Trade and investment are an important engine for U.S. economic growth and jobs. With nearly 14% of U.S. GDP in 2013 accounted for by exports, and 95% of potential consumers living  broad, promoting trade and investment helps more U.S. companies compete in the global marketplace.

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U.S. Secretary of Commerce Penny Pritzker Concludes Her First Trade Mission in Mexico

Secretary Pritzker is joined by U.S. Ambassador Wayne and  Mexico's Secretary of Economy, Ildefonso Guajardo Villarreal during her trade mission to Mexico City and Monterrey, Mexico.

On Friday, U.S. Commerce Secretary Penny Pritzker concluded her five-day trade mission in Monterrey, the largest business center in Mexico after Mexico City.

Among her many trade mission events, Secretary Pritzker met with Margarita Arellanes Cervantes, Mayor of Monterrey, and Jose Luis Pier Castello, President of Lowe's Mexico - one of the leading hardware chains in the world - to highlight the importance of promoting corporate social responsibility and to recognize Lowe's and other American companies doing business in Mexico for their focus on these efforts. At a Lowe's store in Monterrey, Secretary Pritzker expressed her appreciation for employee volunteerism and acknowledged the importance of companies' involvement in the communities in which they operate.

After Lowe's opened its first two stores in Monterrey in 2010, the company, began looking for ways to get involved in the Monterrey community. The company has since supported local schools with donations, volunteer time, and construction expertise. Secretary Pritzker said that Lowe's commitment to the Monterrey community reflects the values of many American companies that invest in Mexico, and that U.S. companies are committed to staying active in the region.

In addition to meeting with Mexican government officials in Monterrey, Secretary Pritzker met with employees at the U.S. Consulate in Monterrey as well as the Department of Commerce’s Monterrey team, thanking them for their public service and for their assistance in promoting Mexican investment in the United States.

Helping the Long-Term Unemployed Get Back to Work

President Barack Obama, with Vice President Joe Biden, delivers remarks at an event to outline new efforts to help the long-term unemployed, in the East Room of the White House, Jan. 31, 2014. (Official White House Photo by Pete Souza)

Editor's note: This has been cross-posted from the White House's Blog.

Guest Blog Post by Gene Sperling, Director of the National Economic Council and Assistant to the President for Economic Policy, and Valerie Jarrett, Senior Advisor and Assistant to the President for Intergovernmental Affairs and Public Engagement

In this year’s State of the Union address, President Obama called attention to a stubborn legacy of the Great Recession that remains despite the progress we have made in creating new jobs: a historically high number of Americans who are ready and eager to work, but have found themselves among the ranks of the long-term unemployed.

Although many of these Americans could help employers fill their hiring needs if given the chance, they often face particular barriers in getting back to work. Research shows that the long-term unemployed are frequently overlooked and sometimes excluded from job opportunities – one study found that candidates who had been out of work eight months were called back for interviews only about half as often as candidates who had been out of work one month, even with an otherwise identical résumé.

"I've heard from too many of these folks," President Obama told a group of CEOs and business leaders the week of his State of the Union address. "They fill out 100 applications, 200 applications. They’re sending out résumés, still finding time to volunteer in their community, or helping out at church. Sometimes they have more experience and education and skill than newly unemployed Americans."

"They just need that chance," he said.

BusinessUSA Recognized for Leading Innovative Collaboration to Support Businesses

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BusinessUSA

BusinessUSA was named as one of six winners yesterday for the 2014 Igniting Innovation Award, which recognizes government and industry individuals and teams who bring innovative thinking through their IT products, services, systems and solutions that benefit federal government and citizens.

Managed by the U.S. Department of Commerce and the Small Business Administration (SBA), BusinessUSA is the federal government’s official assistance resource for American businesses. The platform was launched in February 2012 to serve as a “one-stop-shop” that provides businesses and entrepreneurs with access to the full range of government services and resources available to them at every stage of development.

With thousands of federal, state and local resources, BusinessUSA makes it easier for businesses to locate, access, and utilize resources most relevant to their needs. The website also saves businesses valuable time by providing easy access to information and services through several customer service channels.

In fact, President Obama today called for the White House Rural Council, in coordination with the Commerce Department, SBA and other agencies, to utilize the BusinessUSA platform as part of a new “Made in Rural America” initiative. Specifically, the agencies were tasked with using BusinessUSA to better connect rural businesses with export and investment resources through coordinated support from across the government.

U.S. Secretary of Commerce Penny Pritzker Tours Research and Technology Park In Monterrey, Mexico

Secretary Pritzker is joined by Secretary of Economic Development Rolando Zubiran and Institute for Innovation and Technology CEO Jaime Parada at  Monterrey’s Research and Technology Park

Yesterday, U.S. Department of Commerce Secretary Penny Pritzker toured Monterrey’s Research and Technology Park (Parque de Investigación e Innovación Tecnológica; PIIT in Spanish), a project that seeks to build competitiveness in the state of Nuevo Leon and northern Mexico by leading the transformation into an innovation and knowledge-based economy. 

PIIT is based on a model that aligns the government, universities, and the private sector to achieve economic growth through innovation. To that end, the PIIT serves both as a R&D Center and incubator, focusing on 10 industry clusters considered strategic by the state of Nuevo Leon – including IT and software, medical services, biotechnology, automotive and auto parts and advanced manufacturing among others.

Accompanied by Secretary of Economic Development Rolando Zubiran and Institute for Innovation and Technology CEO Jaime Parada, Secretary Pritzker praised PIIT and its staff for encouraging public and private partnerships and spurring innovation in Mexico.

Innovation is a major pillar of the Commerce Department’s “Open for Business Agenda,” and Secretary Pritzker saw how Monterrey utilizes R&D dollars and cutting-edge sites such as PIIT to  create dynamic clusters that accelerate economic growth and international competitiveness.

In fact, PIIT also includes university and public research centers, private research centers and incubators. Specific entities at PIIT include the University of Texas’ Global Center for Innovation and Entrepreneurship, as well as PepsiCo, General Electric and Motorola – each maintaining a facility in collaboration with a Mexican partner.

Another Year, Another Export Record

Editor's note:  This has been cross-posted from Tradeology, the Official Blog of the Internatational Trade Administration

Guest Blog Post by Ken Hyatt, Acting Under Secretary of Commerce for International Trade and Mark Doms, Under Secretary of Commerce for Economic Affairs

Four years ago, President Obama made export promotion a national priority, launching the National Export Initiative to renew and revitalize American exports.

That initiative is working.  Today, the Department of Commerce announced that for the fourth year in a row, the United States has set a record for annual exports. Total U.S. exports for 2013 reached $2.3 trillion.

There were record highs in both goods and services exports. Goods exports totaled 1.58 trillion, with records in a number of important sectors, including industrial supplies, consumer goods, and capital goods.

Service exports hit an all-time high of $682 billion, with records in several major service sectors. Travel and tourism was one record sector, as international visitors contributed $139 billion to the American economy.

Mexico was a particularly bright spot for U.S. exporters, as we saw a 4.7 percent increase to $226 billion in exports to our southern neighbor. Commerce Secretary Pritzker is currently leading a business development mission in Mexico, helping even more American companies find new opportunities and qualified business partners in one of our most important export markets.

U.S. Secretary of Commerce Penny Pritzker Highlights Entrepreneurship, Innovation, and Growth in U.S.-Mexico Relationship

Secretary Penny Pritzker Highlights Entrepreneurship, Innovation, and Growth in U.S.-Mexico Relationship

As part of her first trade mission, U.S. Secretary of Commerce Penny Pritzker spoke at a breakfast event focused on entrepreneurship, innovation, and overall growth in the U.S.-Mexico commercial and economic relationship.  The event was hosted by the American Chamber of Commerce and the Mexico-United States Entrepreneurship and Innovation Council (MUSEIC).  She was joined by Enrique Jacob Rocha, President of the Mexican National Entrepreneurship Institute (INADEM).

MUSEIC builds on the long history of U.S.-Mexico economic cooperation.  Founded shortly after President Obama’s visit to Mexico in May 2013, MUSEIC brings together stakeholders from both countries to strengthen regional economic competitiveness and support entrepreneurship. In 2013, MUSEIC sponsored a number of entrepreneurship-related activities, including an angel investment conference, a startup boot camp for young Mexican entrepreneurs, and an international forum on women’s entrepreneurship.

In her remarks, Secretary Pritkzer discussed the Commerce Department’s involvement in MUSEIC. For example, the Department is helping to map out the commercial and educational assets in the border regions of Tijuana-San Diego and Monterrey-Texas.  Also, in April, the Commerce Department will host government, business, and university leaders from Mexico and other countries to tour research, innovation, and entrepreneurship hubs in the Southern United States.  The event will spotlight public-private partnerships that accelerate new technologies, attract foreign direct investment, and more. Secretary Pritzker also announced that the next MUSEIC meeting will take place in April in San Antonio, Texas.

As the Chair of the President’s Committee on Global Entrepreneurship (PCGE), Secretary Pritzker is committed to working with leaders from around the world to help create an economic environment that encourages entrepreneurship in North America and around the world.  She said, "The United States and Mexico can set the stage for entrepreneurs on both sides of the border to come together, make breakthroughs, launch new firms, and strengthen our economic competitiveness."

U.S. Secretary of Commerce Penny Pritzker Meets with Government Leaders on Mexico Business Development Mission

Secretary Pritzker meeting with Mexico Secretary of Economy IIdefonso Guajardo Villarreal

It is the second day of U.S. Secretary of Commerce Penny Pritzker’s five-day business development mission to Mexico, and she has already met with several of her Mexican counterparts to discuss the countries’ bilateral commercial relationship and opportunities for U.S. businesses.

On Monday evening, Secretary Pritzker talked with Luis Videgaray, Secretary of Finance, about increasing efficiency at the border. Secretary Pritzker and Secretary Videgaray have met four times, including in September at the High-Level Economic Dialogue (HLED) in Mexico City.

On Tuesday, Secretary Pritzker met with three more Mexican leaders to discuss trade and investment between the United States and Mexico. In the morning, she sat down with Ildefonso Guajardo Villarreal, Secretary of Economy. Their conversation also focused on the progress of the HLED and the need to continue to do more to incorporate stakeholder input and regularly monitor progress. Before their meeting ended, Secretary Guajardo lead Secretary Pritzker on a quick tour of the “NAFTA at 20” exhibit, in celebration of the twentieth anniversary of the implementation of the free trade agreement. Negotiations are currently underway for the Trans Pacific Partnership (TPP), which updates some of the provisions of NAFTA and will cover trade between the United States, Mexico, Canada, and nine other countries in the Asia-Pacific region.

Later that morning, Secretary Pritzker joined Under Secretary for Communications Jose Ignacio Peralta, Under Secretary for Infrastructure Juan Murietta, and Under Secretary for Transportation Carlos Almada for a meeting with part of the U.S. business delegation. Under Secretary Peralta gave the companies an overview of Mexico’s recently-passed telecommunications reforms and shared further opportunities for U.S. companies  invest in Mexico’s telecommunications and IT sectors.

U.S. Secretary of Commerce Penny Pritzker Begins First Official Trade Mission in Mexico

International Trade Between U.S. and Mexico. Trade in goods is eight times 1990 levels.

U.S. Secretary of Commerce Penny Pritzker officially began her five-day trade mission to Mexico today, starting the trip in Mexico City. She is joined by representatives from 17 U.S. companies looking to expand partnerships and develop effective strategies for accessing and doing business in the Mexican market.

The focus of this trade mission is to 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. The companies joining the Secretary address the demand of these growing industries in Mexico.

“The 17 companies who have joined me on this important mission represent the best of American business. These outstanding and innovative companies understand that selling American products overseas is a crucial component to growing and creating jobs,” U.S. Secretary of Commerce Penny Pritzker said.  “I am delighted we can help these companies expand their presence in Mexico through this business development mission.”

The U.S.-Mexico bilateral relationship is among the United States’ closest and most extensive in the world and one of the reasons it was selected by Secretary Pritzker as the destination for her first trade mission. Mexico is the United States’ third-largest trading partner, and approximately $1.3 billion of merchandise trade and one million people cross the 2,000 mile shared border daily. In addition, deeply integrated supply chains in North America and an established free trade agreement make it easy for Mexico and the U.S. to do business with one another.

After State of the Union Secretary Lew Highlights Importance of U.S. Manufacturing and Workforce Training

Secretary Lew speaks to Virginia State University interns and research faculty during his visit to the Commonwealth Center for Advanced Manufacturing in Prince George County, Virginia

Guest blog post by Marissa Hopkins Secreto, Senior Advisor to the Assistant Secretary of Public Affairs at the United States Department of the Treasury and Angie Martinez, Director Office of External Affairs at the U.S. Department of Commerce, Economic Development Administration.

Crossposted from Treasury Notes.

As part of President Obama’s call for creating more high-tech manufacturing jobs in his State of the Union Address last week, Treasury Secretary Jacob J. Lew visited the Commonwealth Center for Advanced Manufacturing (CCAM) in Prince George County, Virginia, on Friday. Secretary Lew toured CCAM’s facility and discussed the future of U.S. manufacturing and the importance of workforce training with CCAM’s business and university partners, as well as Matt Erskine, Deputy Assistant Secretary of Commerce for Economic Development.

“To build on the progress we have made over the last five years, we have to continue to take action to help strengthen economic growth, create jobs, and restore opportunity for all,” Secretary Lew said in statement about his visit.  “CCAM is at the forefront of expanding opportunity by bringing researchers, students, and business together to drive innovation and develop advanced manufacturing technologies.  It is also a powerful example of why this Administration’s focus on increasing job training, modernizing our education system, and creating manufacturing institutes is so important."
 
CCAM is changing the game for how we can grow manufacturing in the U.S. Their approach bridges the gap between fundamental research typically performed at universities and product development routinely performed by companies. CCAM’s members guide the research, leveraging talent and resources within CCAM and at Virginia’s top universities, through a collaborative model that enables them to pool R&D efforts to increase efficiencies. Results can then be applied directly to the factory floor, turning ideas into jobs faster and more affordably than ever before.  CCAM is just one example of the federal government’s efforts to connect universities to businesses and strengthen American manufacturing and our economy through these partnerships.