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Blog Category: Business

New, Innovative, Online Tool to Help Weigh Benefits of Economic Development Projects Using the Triple Bottom Line Model

Submitted on August 30, 2012 - 7:00pm
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Screenshot of Triple Bottom Line Tool website homepage

Guest blog post by Matt Erskine, Acting Assistant Secretary of Commerce for Economic Development

Traditionally, the effectiveness of an economic development investment has been measured primarily by the number of jobs created and dollars leveraged. While critically important, the U.S. Commerce Department’s Economic Development Administration (EDA) has partnered with Portland State University to create an innovative, web-based tool that takes into account a broader array of economic, environmental, and social impacts to more fully evaluate the potential impact of projects. This new Triple Bottom Line (TBL) Tool will help economic development practitioners, investors, and decision-makers assess, compare, and communicate the viability of potential investments.

While the TBL approach has been recognized as a valuable analytical tool among businesses—including major U.S. companies such as General Electric, Unilever, Proctor and Gamble, among many others—it has not been widely applied or considered within the public sector or by the economic development profession. The new TBL Tool developed through EDA’s investment represents a significant step forward for expanding the application of the concept by planners, nonprofits, community organizations, and governments to help support the assessment and decision making of critical development decisions.

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NIST: Baldrige Program Celebrates 25 Years of Performance Excellence

Submitted on August 23, 2012 - 11:45am
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Logo: Baldrige Program Celebrates 25 Years of Performance Excellence

Not many 25-year-olds can boast that in their short lifetime they have helped thousands of organizations develop and maintain world-class operations, innovative management, efficient procedures, involved workforces and highly satisfied customers. But one certainly can: the Baldrige Performance Excellence Program, the nation's premier means for organizations of all types to seek, achieve and maintain performance excellence.

On August 20, 1987, President Ronald Reagan signed into law the Malcolm Baldrige National Quality Improvement Act, establishing the Malcolm Baldrige National Quality Award and its supporting program "to spark U.S. competitiveness and create a sustainable economy." Named after Malcolm Baldrige, the 26th Secretary of Commerce, the Baldrige Award and the Baldrige Program have guided organizations worldwide on their journeys toward continuous improvement and enhanced performance through the seven Baldrige Criteria for Performance Excellence—leadership; strategic planning; customer focus; measurement, analysis and knowledge management; workforce focus; operations focus; and results.

To celebrate its silver anniversary, the Baldrige Program has created a special Web page, "Honoring Our Past. . . Building an Even Better Future", that provides numerous links. See the full release

Acting Secretary Blank Participates in U.S.-Poland Business Summit in Warsaw, Poland

Submitted on June 21, 2012 - 10:30am
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Acting Secretary Blank Participates in U.S.-Poland Business Summit in Warsaw, Poland

Acting U.S. Commerce Secretary Rebecca Blank and Poland’s Deputy Prime Minister Waldemar Pawlak welcomed participants in the U.S.-Poland Business Summit and Business Roundtable in Warsaw yesterday. This important event fulfills an agreement made during President Obama’s visit to Poland last year—to bring together U.S. and Polish business and government leaders to identify and promote new commercial opportunities and strengthen and expand commercial relations between the two countries.
 
Blank and Pawlak co-chaired the Business Roundtable at an informal session with American and Polish businesses and government officials. They discussed increasing bilateral investment and expanding energy sector cooperation. In her remarks, Acting Secretary Blank called for more cooperation between the two countries to continue vital strides towards creating good paying jobs that will help both economies flourish.
 
In her remarks to the summit, Acting Secretary Rebecca Blank talked about increasing U.S.-Poland economic and commercial ties. She said that over the past ten years, U.S. bilateral trade with Poland has nearly quadrupled and today the U.S. is doing more than ever to link with the E.U.’s fastest growing economy. Complete Readout

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Guest Blog Post: Commerce Comes to Your Town – Pittsburgh

Submitted on June 20, 2012 - 10:00am
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Lyn Doverspike, Director of the Commercial Service Pittsburgh Office, Harlan Shober, Washington County Commissioner, Under Secretary Francisco Sanchez, Nate Nevela, District Field Director for U.S. Congressman Tim Murphy , Dennis Gray, Aquatech Vice President of Operations and R.Suresh Kumar, Vice President (Projects) Infrastructure – Major Projects.

Ed. note: Cross-posted from ITA Tradeology blog by Francisco Sánchez, Under Secretary of Commerce for International Trade

Yesterday I toured Aquatech International’s facility in Canonsburg, right outside of Pittsburgh. The company has been working with Commerce Department staff to export more of their products, and it was great to see up close the great work being done at their facilities.

Established in 1981, Aquatech is a global leader in water purification technology for the world’s industrial and infrastructure markets, with a focus on desalination, water reuse and zero liquid discharge. Aquatech is also a socially responsible company. Their products help to solve the problem of water scarcity abroad. They also help support numerous nonprofits that work to provide clean water to those without access to drinkable water.

Our visit to Aquatech is a part of wider Department of Commerce campaign, announced last month, called “Commerce Comes to Your Town.” Here at the International Trade Administration (ITA), we stand ready to provide American businesses the tools and resources they need to export their goods and services all around the globe, grow their businesses, and create more good-paying manufacturing jobs for Americans.

I can’t stress enough how important exports are for America’s economic future. Forty-one companies that successfully grew their exports recently received the President’s “E” Award during a ceremony at the White House. As part of “Commerce Comes to Your Town,” I’ve spoken in towns across the country and met with business leaders to get their input and spread our message. In fact, earlier in the day, I attended the TechBelt Export Summit in Youngstown, Ohio, where I was able to speak about how important exports are to that region.

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$6 Million i6 Challenge to Spur High Growth Entrepreneurship and Expand Proof of Concept Centers

Submitted on June 12, 2012 - 1:30pm
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i6 Challenge logo

Guest blog post by Acting Assistant Secretary of Commerce for Economic Development Matt Erskine

The Obama administration has unveiled several actions that are designed to speed up the growth of new, job-creating companies. Today, a new $6 million i6 Challenge, the third round of the national innovation competition, was announced. Six winning teams from around the country will get awards of up to $1 million this fall for innovative proposals to create and expand Proof of Concept Centers, such as the Deshpande Center for Technological Innovation at the Massachusetts Institute for Technology in Cambridge, Massachusetts, and the Stevens Institute for Innovation at the University of Southern California.

Centers like these incorporate a range of services—such as technology and market evaluation, business planning and mentorship, and early-stage access to capital—that are critical to regional economic growth and job creation.

The i6 competition series has generated great momentum since it was first introduced as part of the roll-out of the White House’s Startup America initiative last year. Projects funded in 2010 and 2011 are already starting to show results.

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Europe Travel Log: Secretary Bryson Travels to Paris, France

Submitted on May 22, 2012 - 11:25am
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This week, U.S. Commerce Secretary John Bryson visited Paris, France for the first leg of a European trip to reaffirm the United States’ commitment to lowering trade barriers and encouraging European businesses to invest in the U.S. In France, Bryson is meeting with several key members of the U.S. and French business communities, as well as with a minister in the new French government. These meetings focused on increasing French investment in the United States, supporting U.S. companies with operations in France, and learning about the new government’s economic policy plans.

On Monday, Secretary Bryson met with the leadership and key members of the American Chamber of Commerce (AmCham) in France to discuss investment and trade issues facing U.S. industry and to support U.S. company operations and interests in France. He also met with the leadership and key members of MEDEF, a major French business association, to highlight the attractiveness of the investment climate in the United States and learn about the successes, concerns and problems of current and potential investors. Bryson also took the opportunity to introduce French investors to SelectUSA, the first coordinated effort by the U.S. government to attract new business investments to America.The Secretary later met with the head of the French export agency, UBI France, and the CEOs of three French small businesses that are entering the U.S. market.

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Secretary Bryson Promotes American Businesses Across the Americas at White House Conference

Submitted on April 12, 2012 - 11:35am
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Earlier today, Secretary Bryson delivered welcoming remarks at the “White House Conference on Connecting the Americas.” The all-day conference brings together business and community leaders from across the country with Administration officials working to expand opportunities for American businesses and people throughout the Americas.

The conference also serves as a forum for the Hispanic community, with cultural and economic ties to the rest of the Americas, to further identify ways in which they can partner up with the administration to promote economic growth and prosperity.

Secretary Bryson spoke at the conference about how the U.S. can ensure a strong economic foundation at home, while strengthening its economic ties throughout the Americas. He reinforced that the people and cultures from throughout the Western Hemisphere are all part of the story of America, and together can create a powerful force in the global economy.

The U.S. economy benefits substantially from trade in the Americas. Over 40 percent of U.S. exports go to the Americas, and those exports are growing faster than U.S. trade with the rest of the world.

Almost 84 percent of U.S. trade within the region is covered by Free Trade Agreements. The U.S. has already opened trade with Mexico, Chile, Central America, Dominican Republic, and Peru through FTAs, and continues to work toward implementation with Colombia and Panama.

In his remarks, the Secretary also pointed out how the Department is working hard to connect U.S. companies to trade opportunities throughout the Americas. Earlier this week, Brazil’s President, Dilma Rousseff visited Washington, and Secretary Bryson led a meeting of the U.S.-Brazil CEO Forum. Leaders from both countries discussed how they can build on the U.S.-Brazilian record year of over $100 billion in bilateral trade.

The Department of Commerce is co-sponsoring the “White House Conference on Connecting the Americas” with the White House Office of Public Engagement and the Council of the Americas, an international business organization focused on economic and social development in the Western Hemisphere. 

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EDA Investments and Programs Help Strengthen America’s Economic Ecosystem, Create Jobs

Submitted on December 27, 2011 - 12:45pm
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i6 Challenge logo

Guest blog post by U.S. Assistant Secretary of Commerce for Economic Development John R. Fernandez

With the private sector creating more than three million new jobs over the last 21 months, and nine straight quarters of positive GDP growth, the U.S. economy is showing signs of recovery. But with millions of people across the nation still unemployed, there is nothing more important right now than working to accelerate business development and job growth.

In the 2011 fiscal year, Commerce's U.S. Economic Development Administration (EDA) continued its important work of investing in competitive projects across the country that are spurring innovation at the regional level, helping to create jobs, and mitigating the effects of natural and man-made disasters.

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Secretary Bryson: "Build it Here, Sell it Everywhere"

Submitted on December 15, 2011 - 12:15pm
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Bryson, gesturing during Chamber remarks, on podium (photo: U.S. Chamber of Commerce)

U.S. Commerce Secretary John Bryson today laid out his vision for how the Department of Commerce can best partner with the business community to support the president’s jobs agenda at a speech at the U.S. Chamber of Commerce. In his remarks, Bryson outlined his top three priorities to help American businesses "build it here and sell it everywhere," focusing on supporting advanced manufacturing, increasing our exports, and attracting more investment to America from all over the world. The former Chairman and CEO of Edison International, Bryson also served as a director on the boards of Boeing and the Walt Disney Company, and as a senior advisor to the private equity firm KKR, and he spoke about his experiences in the private sector and how the Department of Commerce is uniquely situated to support job creation.

“At the Commerce Department, we aren’t waiting to act. . . .We have a major role to play at this critical time to support job creation in America. We have an array of tools to help make our businesses more innovative, more efficient, and more competitive around the world,” he said. “I want to know how this administration and the Commerce Department can best help you. From these conversations, my discussions with the president and my own personal experience, I will prioritize one simple imperative. . . to help American businesses build it here and sell it everywhere.”

The Secretary's remarks at the Chamber marked his first major address, laying out his vision for the Department, focusing on manufacturing, exports and investing in America. Read about the new or recently announced Commerce Department initiatives to support these priorities.  Press release  |  Remarks | Video

Secretary Bryson Promotes U.S.-Iraq Trade Opportunities at U.S. Chamber of Commerce

Submitted on December 13, 2011 - 5:30pm
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Bryson, al-Maliki promote trade (photo: U.S. Chamber of Commerce)

Today, Commerce Secretary John Bryson delivered remarks at a luncheon hosted by the U.S. Chamber of Commerce honoring Iraqi Prime Minister Nouri al-Maliki in Washington. In his remarks, Secretary Bryson pointed out a variety of resources available to U.S.businesses already in place to encourage and create ongoing trade and investment in a new area of relations between the two countries. These include the U.S.–Iraq Business and Investment Conference, Commerce-led trade missions to Iraq, the Iraq Task Force and Commerce’s Advocacy Center.

Commerce's Under Secretary for International Trade Francisco Sánchez led a historic business development mission to Baghdad in October, 2010. The trade mission brought together representatives from 14 U.S. companies with key Iraqi public and private sector decision-makers, including nearly 200 match-making meetings, to pursue investment and sales opportunities. The Department of Commerce had key involvement at the Baghdad International Trade Fair. There, the U.S. participated for the first time since 1988, showcasing 85 American businesses and organizations at the U.S. Pavilion–the largest foreign presence at the event.

“Working together we can continue to strengthen ties between our nations’ business communities," Bryson said. "For example, on Wednesday, we are facilitating a match-making event for U.S. firms to meet with the Iraqi companies visiting Washington with the Prime Minister. . . .  And, of course, we will continue working through the U.S.-Iraq Business Dialogue and with the U.S. Chamber of Commerce and the U.S.-Iraq Business Council, as Iraq continues to emerge as a promising market in the region.”

Al-Maliki highlighted the growing commercial ties with the United States and called for the U.S. business community to seize the investment and trade opportunities available in Iraq. Iraq is a promising and important emerging market–one that’s set to grow faster than China–and has needs that encompass everything from infrastructure to small consumer goods. Last year, Prime Minister al-Maliki announced Iraq’s five-year National Development Plan. The plan includes more than 2,700 projects worth about $186 billion and is aimed at diversifying Iraq’s economy away from oil. Meeting those needs can help create jobs here in the U.S.

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