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In this issue...
- President Bush’s American Competitiveness Initiative
- Commerce Department FY 2007 Budget Maintains Commitment to Job Growth and U.S. Competitiveness; Expands the Programs of EDA by $47 Million to $327 Million
- Economic Development Today Telecast on “Global Gateways” to Air February 14
- Report on “A Symposium for 21st Century Economic Development”
- “Rural Entrepreneurship and Innovative Leadership” to Be Featured in Winter 2006 Edition of Economic Development America
- Recent EDA Speeches and Upcoming Events
How to subscribe: To subscribe yourself or a colleague to EDA Update, send an email with contact information, including email address, to Jason Christian at jchristian@iedconline.org.
President Bush’s American Competitiveness Initiative
In His State of the Union Address, President Bush Announced the American Competitiveness Initiative (ACI) to Encourage American Innovation and Strengthen Our Nation's Ability to Compete in the Global Economy. This ambitious strategy will increase Federal investment in critical research, ensure that the United States continues to lead the world in opportunity and innovation, and provide American children with a strong foundation in math and science. The American Competitiveness Initiative commits $5.9 billion in FY 2007, and more than $136 billion over 10 years, to increase investments in research and development (R&D), strengthen education, and encourage entrepreneurship and innovation.
Read a speech by Assistant Secretary of Commerce for Economic Development Sandy Baruah on the American Competitiveness Initiative.
America’s Economic Strength and Global Leadership Depend on Continued Technological Advances. Groundbreaking ideas generated by innovative minds have paid enormous dividends – improving the lives and livelihoods of generations of Americans. With more research in both the public and private sectors, we will improve our quality of life and ensure that America will lead the world in opportunity and innovation for decades to come. The President’s comprehensive strategy to strengthen America’s competitiveness includes:
- Doubling the Federal commitment to the most critical basic research programs in the physical sciences over the next 10 years;
- Encouraging the expansion of a favorable environment for additional private-sector investment in innovation;
- Improving the quality of education to provide American children with a strong foundation in math and science;
- Supporting universities that provide world-class education and research opportunities;
- Providing job training that affords more workers and manufacturers the opportunity to improve their skills and better compete in the 21st century;
- Attracting and retaining the best and brightest to enhance entrepreneurship, competitiveness, and job creation in America by supporting comprehensive immigration reform; and
- Fostering a business environment that encourages entrepreneurship and protects intellectual property.
More information on The American Competitiveness Initiative is available at:
www.whitehouse.gov/news/releases/2006/01/20060131-5.html.
Commerce Department FY 2007 Budget Maintains Commitment to Job Growth and U.S. Competitiveness; Expands the Programs of EDA by $47 Million to $327 Million
U.S. Commerce Secretary Carlos M. Gutierrez recently announced that President Bush’s $6.1 billion budget request for the U.S. Department of Commerce maintains the Department’s priorities of promoting job growth and U.S. competitiveness while also restraining discretionary Federal spending.
“This budget request reflects President Bush’s commitment to maintaining a strong and vibrant economy that enables U.S. businesses to innovate, compete and succeed in the global marketplace,” said Gutierrez. “This administration is determined to continue providing American entrepreneurs and workers with the tools they need to fuel our economy while also reining in federal spending.”
The Commerce Department’s budget will focus on its main goals of providing information and tools to maximize U.S. competitiveness; fostering science and technological leadership, including protecting intellectual property rights; and observing, protecting and managing the earth’s resources to promote environmental stewardship.
A central theme for the President’s FY 2007 budget is economic growth and maximizing U.S. competitiveness – a theme in which the Economic Development Administration (EDA) plays an important role.
EDA is charged with leading the federal economic development agenda by promoting innovation and competitiveness while preparing American regions for growth and success in the worldwide economy. President Bush’s FY 2007 budget expands the programs of EDA by $47 million to $327 million. This is a 17 percent increase, reflecting the Administration’s emphasis on regional competitiveness and measuring performance as the underlying strategy for federal economic development policy. EDA will work collaboratively with other federal partners in the establishment of a proactive, regionally based federal economic development framework to empower America’s communities to be globally competitive. EDA remains committed to the continued pursuit of competitiveness and innovation for all of America’s regions, and we look forward to working with you in this direction as we support the President’s new American Competitiveness Initiative.
Below please find links to two documents on the EDA Web site that discuss EDA's 2007 direction in further detail. Information will continue to be available at www.eda.gov throughout 2006.
Fiscal Year 2007 Budget Request (PDF)
Fiscal Year 2007 Budget Request - FAQs (PDF)
Economic Development Today Telecast on “Global Gateways” to Air February 14
On February 14, from 3:00 – 4:00 Eastern time, the National Association of Regional Councils (NARC) will conduct a telecast on “Global Gateways.” This Economic Development Today telecast is the second of six in the 2005-2006 series.
Global Gateways are areas throughout the United States that are critical corridors to reaching world markets. To compete in an interconnected, worldwide economy, America’s regions must be linked to develop these global gateways. It requires that cities and towns along these critical corridors manage the links between transportation, infrastructure investments and economic development. This includes new institutional arrangements for interstate and international relations, accessing federal funding and building international relationships.
Panelists will address challenges and opportunities; issues faced by ocean and inland ports; unexpected outcomes from new technology; and lessons learned on transportation, economic development, tourism and international trade.
Moderator: Matthew E. Crow, Director of Communications, Economic Development Administration
Panelists:
- Mr. Gary Gallegos, Executive Director, San Diego Association of Governments
- Ms. Gayle Rusing, CEcD, President/CEO, Greater Yuma Economic Development Corporation
- Mr. Jeffrey S. Heller, Assistant Vice President, International Marketing, Norfolk Southern Corporation
To register for this event, please go online to www.narc.org/ed/ecodev-main.html. If you have questions, contact Peggy Tadej at (202) 986-1032, ext. 224 or Tadej@narc.org.
To view Webcasts of previous shows, please visit www.eda.gov/NewsEvents/Edevinfocoalition.xml.
Report on “A Symposium for 21st Century Economic Development”
On September 22, 2005, EDA, in partnership with Penn State University, held “A Symposium for 21st Century Economic Development” in Arlington, Virginia. Several notable speakers, including Mississippi Governor Haley Barbour and Toyota Motor North America Senior Vice President Dennis Cuneo, delivered presentations on critical economic development issues.
EDA and Penn State are proud to present the post-conference report on the EDA website (PDF), as well as a video conference abstract, and written, audio and video transcripts of the symposium available at www.pspb.org/edaconf/.
“Rural Entrepreneurship and Innovative Leadership” to Be Featured in Winter 2006 Edition of Economic Development America
The next edition of Economic Development America magazine, to be published in March, will focus on efforts to build entrepreneurship in rural areas. Other themes for 2006 include:
- Global Gateways (Spring)
- Financial Tools for Economic Development (Summer)
- Performance Metrics: What Is Your Economic Development Return on Investment? (Fall)
Story ideas are welcomed for each of the 2006 editions of the magazine. For more information, contact editor Louise Anderson at landerson@iedconline.org. Past issues of Economic Development America magazine are available at www.eda.gov/NewsEvents/Edevinfocoalition.xml.
Recent EDA Speeches and Upcoming Events
On February 3, Assistant Secretary Sandy K. Baruah participated in a Rensselaer Polytechnic Institute Roundtable Discussion on the Impact of Innovation and Competitiveness on the National Economy, Albany, New York. Click here to read his remarks.
On February 6, Assistant Secretary Assistant Secretary Sandy K. Baruah discussed regional economic development strategies at the National Association of Regional Councils’ Washington Policy Conference in Washington, D.C. Click here to read his remarks.
On February 10, 2006, Assistant Secretary Sandy K. Baruah will brief external groups on the President’s proposed FY 2007 budget request and policy priorities as they impact EDA in Washington, D.C.
On February 23, 2006, Assistant Secretary Sandy K. Baruah will discuss the importance of regional economic development at the Western Regional Science Association’s 45th Annual Meeting in Santa Fe, N.M.
On February 24, 2006, EDA Senior Policy Advisor Jim Yeager will discuss the importance of regional economic development at the Sacramento Metro Chamber’s Regional Economic Forum in Sacramento, California.
On March 2, 2006, Assistant Secretary Sandy K. Baruah will discuss the importance of regional economic development at the North State Venture Forum in Chico, California.
On March 3, 2006, Assistant Secretary Sandy K. Baruah and U.S. Congressman Wally Herger present a $2 million EDA investment check to the city of Weed, Calif. The investment will help expand the South Weed industrial and commercial area. The investment is expected to create 765 jobs and generate $45 million in private investment.
EDA Update is brought to you as a benefit of a partnership among the Economic Development Administration (EDA), the International Economic Development Council (IEDC) and the National Association of Regional Councils (NARC), to provide information about economic development practices and programs to economic development practitioners who serve distressed communities throughout the United States. This partnership also provides six telecasts and a quarterly magazine. For more information, visit the EDA Web site.
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