REMARKS AS PREPARED FOR DELIVERY - SANDY K. BARUAH, ASSISTANT SECRETARY OF COMMERCE FOR ECONOMIC DEVELOPMENT - EDA INVESTMENT CHECK PRESENTATION - PHILADELPHIA, PENNSYLVANIA

TUESDAY, MAY 29, 2007

AS PREPARED FOR DELIVERY

Introduced by Representative Chaka Fattah

Thank you, Representative Fattah, for that kind introduction

I know that Representative Fattah is committed to creating higher-skill, higher-wage jobs for Philadelphia and the nation and I thank you for your leadership.

I would also like to thank RoseAnn Rosenthal, President and CEO, Ben Franklin Technology Partners of Southeastern Pennsylvania for participating in today’s event. And, thank you all for joining us.

It is a pleasure to be in the great Commonwealth of Pennsylvania today representing President George W. Bush on this special occasion to celebrate Pennsylvania’s economic future.

As you know, economic development works best when it is a locally-driven process – local people coming together for the common good to take control of their economic destiny. That’s what we’re celebrating this afternoon.

Of course, it can be helpful to consider the national business environment in which the companies of tomorrow are being formed here in Pennsylvania.

In this context, we have good reason to be optimistic. Recent government statistics show that our economy continues to be strong, and it is getting stronger.

88,000 jobs were created in April, and the unemployment level remains at a low 4.5%, which many economists say is essentially full employment, and is lower than where we were at the time of the 2001 terror attacks.

The economy has created about 1.8 million jobs over the past year. For those of you keeping score at home, that’s over 7.8 million new American jobs since August 2003, more jobs than all the other major industrialized countries combined.

It is clear that our economy is resilient and strong, but I would like to mention an issue that will make the nation stronger - an issue of great importance to the President - immigration reform.

Recently, the Administration reached an agreement with Republicans and Democrats in the Senate on immigration reform. This bipartisain immigration reform lays a framework for border security and immigration reform that will make America more secure, make our economy more competitive, and show that America can be a lawful society and a welcoming society.

This legislation will give employers new tools to verify the employment status of workers and hold businesses to account for those they hire. It will create a temporary worker program. It will help us resolve the status of millions of illegal immigrants who are here already, without animosity and without amnesty. And it will honor the great American tradition of the melting pot by strengthening our efforts to help new arrivals assimilate into our society.

The President believes that this bill brings us closer to an immigration system that enforces our laws and upholds the great American tradition of welcoming those who share our values and our love of freedom.

The nation’s strong economic performance and the immigration reform agreement are good news not just for the nation, but for Pennsylvania as well – because a strong, growing national economy and strong immigration policy will allow economic regions and individuals to tap into this expanding economic pie and share in our national prosperity. It takes both smart national policies and forward-thinking regional action in order for economic growth to occur, and we celebrate both today.

Of course, a little help from the Federal government can’t hurt. And today, I have the distinct pleasure to announce an Economic Development Administration investment of $900,000 for the Ben Franklin Technology Partners of Southeastern Pennsylvania of Philadelphia, Pennsylvania.

The project that we recognize today represents a strong example of how the public and private sector, in partnership, can combine capital resources to achieve critical economic development goals. The Ben Franklin Technology Partners of Southeastern Pennsylvania will use their investment, along with state and local funding, to support the development and implementation of the Commercialization Continuum; a comprehensive, integrative technology commercialization system including universities, governments, not-for-profit groups, and businesses.

Commerce Secretary Gutierrez and I share high hopes for this project and for the new and growing high-tech businesses promoted by technology commercialization in southeastern Pennsylvania.

EDA is proud to be a partner in this important project, which demonstrates what we can achieve for America’s communities if we work together in a bi-partisan fashion to create higher-skill, higher-wage job opportunities.

So now, if I could please have Representative Fattah join me to formally present the check to RoseAnn Rosenthal for the Ben Franklin Technology Partners of Southeastern Pennsylvania…

On behalf of President George Bush, it is my pleasure to present the Ben Franklin Technology Partners of Southeastern Pennsylvania with this check for $900,000 million. Congratulations…

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