January 16 2015
As we start 2015, it is important to reflect on how far
we’ve come. 2014 was a milestone year for the U.S. economy. Nearly 3 million
jobs were created in 2014 alone, the most since the 1990s. We’ve seen 58
straight months of private sector job growth, with 11.2 million jobs created
during that time. The U.S. economy is now eight percent larger than it
was prior to the Great Recession. And today, the U.S. is atop the world
as the desired destination for investment from businesses around the globe for
the second year running.
While we’ve made real progress, there is even more we can
do. This week Secretary Pritzker approved new regulations authorizing the flow
of certain goods and services to Cuba without a license, to spur private sector
activity and encourage entrepreneurship in Cuba. This increased economic
engagement will benefit both nations. Also, she joined Secretary of Labor Tom
Perez, NEC Director Jeff Zients and Senior Advisor to the President Valerie
Jarrett, in hosting a delegation of Swiss business leaders, who are making
significant U.S. foreign direct investment in the United States. The investor
delegation highlighted the importance of SelectUSA, a government effort to
attract, retain and expand business investment to and within the United States.
Around Commerce, NOAA reported that 2014 was the hottest
year on record; Under Secretary Selig was in Seattle touting the benefits of
exports; and NTIA announced plans to help communities with their broadband
plans.
During this 3-day weekend, I would encourage you to honor
the spirit of Dr. Martin Luther King, Jr. and find a project in your
community where you can serve.
-Jim
Statement
from U.S. Commerce Secretary Pritzker on New Commerce Department Regulations
Changing U.S. Export Policy On Cuba - “Today’s actions, which are being taken in
coordination with the U.S. Department of the Treasury, give legal effect to the
historic policy changes that President Obama announced on December 17.
Specifically, our regulations will change export policy and authorize the flow
of certain goods and services to Cuba without a license, to spur private sector
activity and encourage entrepreneurship in Cuba.” Learn more on the fact
sheet.
Swiss Executives Announce $3 Billion
Investment in the United States During Meeting with Secretary Pritzker
- The eight executives announced plans to
invest $3 billion in their U.S. operations in 2015. The participants also
discussed the importance of job-driven workforce training initiatives, which
enhance the United States’ attractiveness as a destination for investment by
better enabling employers to hire workers with the necessary skills and
providing employers with the technical assistance needed to launch training
programs.
Commerce and White House Ramp-Up Efforts
to Open More Markets to American Goods and Services - Secretary Pritzker is leading the charge to make
exporting a larger part of the DNA of all American businesses. Key to achieving
this goal and at the top of the Administration’s trade agenda is passage of
Trade Promotion Authority, the Trans-Pacific Partnership (TPP) and the
Transatlantic-Trade and Investment Partnership (T-TIP).
Greater
Seattle: Marshaling Export Success for Future Gains in Direct Investment – Under
Secretary for International Trade Stefan M. Selig wrote about speaking to the
Annual Seattle Economic Forecasting Conference held by the Economic Development
Council of Seattle and King County.
The Importance of Service - Assistant Secretary of Commerce Jay
Williams travelled to Detroit where he celebrated with Mayor Mike Duggan’s
announcement that USA Funds has made a $1.25M commitment to improving
graduation and employment outcomes for Detroit Public Schools students through
the Jobs for Michigan’s Graduates program.
It's official:
2014 was Earth's warmest year on record - The globally averaged temperature
over land and ocean surfaces for 2014 was the highest among all years since
record keeping began in 1880. Also, the December combined global land and ocean
average surface temperature was the highest on record.
Broadband: The Electricity of the 21st
Century - Throughout the 19th and 20th centuries, American business owners,
scientists, and entrepreneurs have driven our economy forward and kept the
United States leading the way in innovation and global competition. A thread
woven through the fabric of our national identity has been having the most
productive and highly skilled workforce in the world. A 21st-century America
should be no different.
NTIA Announces BroadbandUSA Effort to
Assist Communities with Broadband Plans - As part of BroadbandUSA, NTIA will
share the lessons learned and best practices developed by companies, state and
local governments, and other organizations that received our grants. NTIA is
also releasing today a new Public Private Partnership primer, which provides a
basic introduction to a variety of partnership models for communities
considering new broadband projects.
2015: The Year to Launch and Scale in the
United States – SelectUSA provides information, connects
businesses with the right people, and helps investors navigate the federal
government. In addition, SelectUSA Tech’s 2014 “boot camp-style” events
have brought together public and private-sector experts to address legal, tax,
accounting, insurance, and visa/immigration issues, while also covering how
tech entrepreneurs can access U.S. buyers, venture capital, debt financing, and
general banking services.
Strong Intellectual Property Fuels
Investment - The U.S. intellectual property system has
long made America an attractive place to innovate and invest. Companies from
around the world leverage the power of the U.S. patent, while supporting the
U.S. economy.
El
Paso MBDA Business Center Kicks Off the New Year with Business Sunday - The MBDA Business Center-El Paso (Texas),
operated by the El Paso Hispanic Chamber of Commerce, kicked off the New Year
with its first Business Sunday Event at Destiny Family Christian Center this
past weekend.
Why
Are Seabirds so Vulnerable to Oil Spills? - Surprisingly resilient, Common Murres are
nonetheless one of the most studied seabirds precisely because it
is so often the victim of oil spills.
The Bureau of Economic Analysis wrote about Spending
on Arts and Cultural Production Continues to Increase and New
Health Care Statistics to be Released Jan. 22 on their blog this week.
December
2014 retail and food services sales were $442.9 billion, a decrease of 0.9
percent from November 2014 but up 3.2 percent from December 2013. Excluding
automobiles, retail and food services sales in December 2014 were $351.9
billion, down 1.0 percent from the prior month but up 1.9 percent from one year
earlier.
November
2014 business inventories were $1,763.6 billion, up 0.2 percent from
October and up 4.4 percent from November 2013. Sales were $1,345.8
billion, down 0.2 percent from the previous month but up 2.2 percent from one
year earlier.
U.S. retail and
food services sales for December were $442.9 billion, a decrease of 0.9
percent from the previous month, but up 3.2 percent above December 2013. Total
sales for 2014 were up 4.0 percent from 2013.
U.S. total business
end-of-month inventories for November 2014 were $1,763.6 billion, up 0.2
percent from last month. U.S. total business sales were $1,345.8 billion, down
0.2 percent from last month.
Commerce Data in the News:
The Bureau
of Economic Analysis’ data on the
impact of arts and culture on the U.S. economy was highlighted in a report
carried by ABC news: Federal
Analysis: Arts, Culture Add $700B to U.S. Economy.
The Washington Post cites Census
Bureau statistics on state government revenue to write that Mississippi is most
reliant on federal tax revenue and Alaska the least in the article, How Much Each State
Relies on the Federal Government for Revenue.
The Dallas Observer cites Census
Bureau economic statistics to write that the Dallas-Fort Worth region’s gross
domestic product is more than $447 billion, and that the college football
championship game in Arlington, Texas would give the area’s economy a mere .067
percent bump in the article, College Football
Playoff Will Bring DFW $300 Million – Carried on the Backs of Unicorns.
MarketWatch cites Census Bureau
statistics on employment, disability, population and age to write that West
Virginia becomes the first state where less than half
of its adult, civilian population is in the workforce in the article, The Only State
Where Less Than Half Its Civilians Work.
The Washington Post says the 2015
census test in the Savannah media market — which includes about 407,000
housing units across 20 counties on and near the southern Georgia-South
Carolina border — will experiment with Internet responses to see
whether social media advertising is an effective way to increase
participation and to determine whether online advertising can reach
hard-to-count areas in the article, U.S. Census Bureau
Tests Online Option in Georgia, South Carolina Ahead of 2020 Count.
Data Releases
Next Week: New Residential Construction:
December (Census)
On Monday, in honor of Dr. Martin
Luther King, Jr. Day, Secretary Pritzker will deliver remarks on business
project managers helping non-profits succeed at the service project ScopeAthon
hosted by the Project Management Institute in Tysons Corner, VA.
Also on Monday, Deputy Secretary
Andrews will participate in a service project coordinated by City Year DC at
Eastern Senior High School as part of MLK Jr. Day.
On Tuesday, Under Secretary for
International Trade Stefan Selig will be a panelist at the Asian Financial
Forum (AFF) in Hong Kong, which brings together members of the global financial
and business community to discuss developments and trends in the Asian market,
providing business opportunities in mainland China and the rest of Asia.
On Wednesday, Secretary Pritzker
will travel to NC to participate in an armchair discussion where she will
highlight the progress made in our economic recovery in 2014 and discuss
President Obama’s plans to build on that momentum with the policies discussed
in the State of the Union Address with Charlotte Chamber President and CEO Bob
Morgan.
Also on Wednesday, NOAA National
Hurricane Center Director Dr. Rick Knabb will address the 16th
Annual Windstorm Insurance Conference, in New Orleans, LA. Dr. Knabb will
provide a presentation regarding the 2014 hurricane season and the new products
for the 2015 hurricane season.
From January 22–24, Secretary
Pritzker and Deputy Secretary Andrews will attend the World Economic Forum
(WEF) in Davos, Switzerland to highlight the importance of innovation and
entrepreneurship as part of the Commerce Department’s “Open for Business
Agenda.”
On Thursday, USPTO Deputy
Director Michelle Lee will speak at a fireside chat hosted by the Brookings
Institution in Washington, D.C.
On Friday, Deputy Assistant
Secretary for Manufacturing Chandra Brown will lead the U.S. delegation to the
Arab Health trade show in Dubai, UAE and advocate for key U.S. interests in the
healthcare, energy, and transportation infrastructure areas.
Secretary
Pritzker signing new regulations that are the U.S.’ first steps toward
expanding economic engagement with Cuba
Nestlé Executive Considers
U.S.-Swiss Bilateral Commercial Relationship a Win-Win.
Crowning a College
Champion
- Ohio State beat Oregon 42-20 to win college football’s national championship.
Before the highly anticipated game, the Census Bureau posted a graphic on
social media outlets saying, “Who will you root for in the big game? Here are
some population stats for Columbus and Eugene.”
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