March 27, 2015
Earlier this week, the Department of Commerce hosted its
second SelectUSA Investment Summit. This year, the Summit has seen a record
number of attendees from 1,300 companies and more than 70 international markets
that came together under the umbrella of America’s economic resurgence.
Amongst the numerous business and political leaders from
around the world, we were honored to have President Obama provide the keynote
address where he highlighted the impact SelectUSA has in improving the
investment climate not only across the U.S., but the entire planet.
Echoing the President’s enthusiasm, Secretary Pritzker
launched the Summit by emphasizing the opportunity to acquire knowledge from
the numerous global business leaders, build relationships and expand partnerships,
and the unique advantage the United States provides for innovation and
investment. The Secretary also stressed that the ripe environment for
investment in America is due to its low barriers of entry and the talent and
ingenuity of its people that keep it Open for Business.
Around Commerce, Secretary Pritzker announced Russell
Slifer as Deputy Director of the USPTO; Census released new population
estimates which reveal the fastest growing U.S. cities and counties; and USPTO
hosted a Patent Quality Summit.
Hope everyone has had a wonderful week and thanks for
keeping America running.
-Jim
U.S.
Commerce Secretary Penny Pritzker Kicks Off 2015 SelectUSA Investment Summit-
Addressing an audience of more than 2,600 people from more than 70 markets,
Secretary Pritzker spoke about how the United States is the world’s top
investment destination and SelectUSA’s efforts to make it even easier for
international firms to do business in the U.S.
U.S.
Secretary of Commerce Penny Pritzker Welcomes President Obama to the 2015
SelectUSA Investment Summit- In her introduction, Secretary Pritzker
highlighted the actions of the President and the entire Administration to
strengthen the U.S. economy, build a more welcoming investment climate,
and keep “America open for business”. President Obama's keynote reiterated the
vital importance of foreign direct investment to the United States' economic
recovery and continued growth.
2015
SelectUSA Investment Summit Off to a Roaring Start- With more than 2,600
people from more than 70 markets, and economic development organizations from
all corners of the United States, the 2015 SelectUSA Investment Summit has
record attendance. In fact, it is more than twice as large as the
inaugural 2013 event.
Innovation
and Software are the Reasons to Select the USA- This guest blog post by
Eric A. Spiegel, President and CEO of Siemens highlights that the U.S. has
become an innovation engine for the company. It is not only their largest
market, but is also an extremely vital production location, one of their most
important research centers and a key base from which they export to the rest of
the world.
The
Innovative and Useful U.S. Cluster Mapping Tool (Video)- The U.S.
Cluster Mapping Tool, a combined effort of the Harvard Business School and the
U.S. Economic Development Administration, is THE starting place for anyone
looking to expand their business in the U.S.
SelectUSA
Investment Summit Concludes With Renewed Focus on Reinvesting in America,
Creating Jobs at Home- In her closing remarks, Secretary Pritzker told
investors that we welcome more investment to our shores and that there is no
better time to invest in the United States. During the two day summit a number
of new initiatives were announced that focused on maintaining America’s
position as the world’s premier destination for foreign direct investment.
U.S.
Commerce Secretary Penny Pritzker Announces Russell Slifer as Deputy Director
of the U.S. Patent and Trademark Office- “Russell has an impressive track
record of success across several disciplines and will be a tremendous asset to
the USPTO,” said Secretary Pritzker. “His leadership will be instrumental in
the USPTO's efforts to foster economic growth and promote American innovation by
reducing the patent application backlog and enhancing patent and trademark
quality. I look forward to working with Russell in his new role, along with
Director Lee and the rest of the USPTO team.”
U.S.
Commerce Secretary Penny Pritzker Delivers Remarks on Department's Efforts to
Help Revitalize Local Economies- In her remarks, Secretary Pritzker
highlighted the impact economic development organizations have on local
communities and the work the Commerce Department is doing to support these
organizations. She also announced the winners of an Innovation Challenge
competition funded by the Economic Development Agency and hosted by NADO and
the National Association of Counties.
U.S.
Commerce Department to Co-Chair Broadband Opportunity Council- U.S.
Secretary of Commerce Penny Pritzker announced that the U.S.
Commerce Department will co-chair the Broadband Opportunity
Council, a new federal government initiative aimed at increasing
broadband investment and reducing barriers to broadband deployment and
adoption.
Promoting
Broadband Across the Federal Government- A top priority of the Commerce
Department’s National Telecommunications and Information Administration is
to work with communities across the country to ensure that all their citizens
have access to high-speed Internet connectivity and the skills to use it to
improve their lives.
Former
Secretaries of Commerce Urge Congress to Pass Trade Promotion Authority- A
bipartisan group of former Secretaries of Commerce, whose tenures spanned from
1973 to 2012, released an open letter urging Congress to pass Trade Promotion
Authority, a tool that is essential to the completion and implementation of new
trade partnerships.
USPTO
to Host Patent Quality Summit March 25-26- The two-day event is an
opportunity for the public to provide their thoughts about patent quality in
order to guarantee the most efficient prosecution and processes, and to ensure
the issuance of the highest quality patents.
New
Census Bureau Population Estimates Reveal Fasting Growing U.S. Cities and
Counties- Estimates show Florida's growth to reach this milestone was
propelled by numerous metro areas and counties within the state. In addition,
two additional states - Texas (with 11) and California (with 10) - had even
more counties than Florida on the list of the top 50 numerical gainers.
Business
Sunday Comes to Philadelphia- Business Sunday is a program focused on
promoting local economic growth and job creation by connecting congregations
and communities with the valuable business development resources offered by the
Federal Government.
Get
Quick Access to Statistics for Your Area’s Ocean and Great Lakes Economy- To
make good decisions about the future, communities need to understand their
economic dependence on ocean and Great Lakes resources-that’s where Economics:
National Ocean Watch (ENOW) can help.
Under Secretary Doms wrote 2015
Census Test Starts Today in the Savannah, Ga. Area.
The Bureau of Economic Analysis wrote State
Personal Income: Fourth Quarter 2014, State
Personal Income 2014 and GDP
Increases in Fourth Quarter on their blog this week.
Quarterly
Financial Report- Retail Trade 4th Quarter 2014: After-tax
profits for retail corporations with assets of $50 million and over
were $23.8 billion for the fourth quarter 2014 (the 3 months ending Jan. 31,
2015), up $7.4 billion from third quarter 2014 (the 3 months ending Oct. 31,
2014).
Quarterly
Financial Report- Manufacturing, Mining, Wholesale Trade and
Selected Service Industries-4th Quarter 2014: Manufacturing
corporations’ seasonally adjusted after-tax profits were $154.1
billion for the fourth quarter of 2014, down $10.7 billion from third quarter
of 2014.
New Residential
Sales- February 2015: Sales of
new single-family houses in February 2015 were at a seasonally
adjusted annual rate of 539,000. This is 7.8 percent above the revised January
2015 estimate of 500,000.
Advance
Report on Durable Goods- Manufacturers’ Shipments, Inventories and
Orders-February 2015: New
orders for manufactured durable goods in February decreased $3.2
billion or 1.4 percent to $231.3 billion.
Commerce
Data in the News:
Bloomberg News
cites the Census Bureau’s latest annual county and metro population estimates
to write that Americans over age 55 are flocking to The Villages, a sprawling
retiree utopia in Florida that just keeps growing, in the article The
Fastest-Growing U.S. City is a Senior Community.
The Wall Street
Journal cites Census Bureau statistics on residential sales to write that
sales of newly built single-family homes increased 7.8 percent in February to
annual rate of 539,000 in the article U.S. New Home Sales Rise to Highest Level
Since February 2008.
BEA’s third
estimate of fourth-quarter GDP was cited in a Wall Street Journal article: Economic
Growth, Corporate Profits Slowed as 2014 Ended.
BEA’s report on Gross
Domestic Product for the fourth quarter was cited in a Reuters article: U.S.
Economic Growth Slows in Fourth Quarter; Corporate Profits Fall.
BEA’s state
personal income report was cited in a Market
Watch article: Here
are the states that had the fastest growth in income.
Data
Releases Next Week: Personal Income and Outlays: February (BEA); Construction Put in
Place: February (Census); U.S. International Trade in Goods and Services:
February (BEA and Census); Manufacturers’ Shipments, Inventories, and Orders:
February (Census).
On Monday, Secretary Penny Pritzker will travel to Tampa,
FL to deliver keynote remarks at the
“Cuba Forum-Tampa at the Forefront of Historic Change.” As the keynote speaker
of the forum, Secretary Pritzker will discuss the Obama Administration’s
efforts to grow the economy, support increased trade, and create American jobs.
She will also highlight the recently announced Cuba policies and what they mean
for travel and trade in Tampa Bay. In the afternoon, Secretary Pritzker will
travel to the University of Central Florida in Orlando to make an important
funding announcement regarding new ways the Department of Commerce is advancing
innovation and capacity-building activities in regions across the country.
Also on Monday, Assistant Secretary for Economic
Development Jay Williams will deliver remarks on the Administration’s economic
development agenda including its focus on advancing innovation and
entrepreneurship at the International Economic Development Council’s (IEDC)
2015 Federal Forum.
On Tuesday, MBDA National Director Alejandra Y. Castillo
will deliver remarks on minority investment managers and the financial market
environment at the 2015 Diverse Investor Forum hosted by the Chicago and San
Jose MBDA Business Centers in New York, NY.
Additionally on Tuesday, Assistant Secretary for Economic
Development Jay Williams will deliver remarks at the Southeastern Medical
Device Association 2015 Conference to discuss the Administration’s economic
development agenda including its focus on promoting the renaissance of the
American manufacturing sector, advancing innovation and entrepreneurship, and
stimulating trade in Atlanta, Georgia.
On Wednesday, Under Secretary of Commerce for
International Trade Stefan Selig will give keynote remarks at the Cuba Business
Opportunity Summit hosted by Wharton Business School at NASDAQ’s Market Site
Tower in New York, NY, where he will educate companies and stakeholders on the
President’s policy change towards Cuba.
Also on Wednesday, the Phoenix and Savannah areas will
celebrate “Census Day 2015” to raise awareness of the 2015 Census Test in those
places. The Census Bureau is testing ways to improve data collection methods
that can be used during the 2020 Census.
On Thursday, Chief Cyber Security Advisor Donna Dodson will
deliver opening remarks at the NIST Workshop on Cybersecurity in a Post-Quantum
World taking place at NIST headquarters.
Secretary
Penny Pritzker welcoming President Obama
to the second-ever SelectUSA 2015 Investment Summit. President Obama’s keynote
reiterated the vital importance of foreign direct investment to the U.S.
economy and continued growth.
Bonus Photo of the Week
Secretary
Pritzker huddling with ten female U.S. Ambassadors at the 2015 SelectUSA
Investment Summit.
In case you could not make it to the Gaylord Hotel
earlier this week or did not tune into the live stream, here is a recap
of the 2015 SelectUSA Summit.
Bonus Video of the Week
Released at the 2015 SelectUSA Investment Summit, the U.S. Cluster Mapping Tool
helps investors decide where they should invest or expand their business by
either state, counties or metro-micropolitan areas. America is open for
business.
Seeking
the Sunshine- The Census Bureau has a graphic from its latest population
estimates that shows six of the 20 fastest-growing metro areas by percent
change from July 1, 2013, to July 1, 2014, are in Florida.
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