Created on September 20, 2012
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Over the past two decades, the world has been shifting into an innovation economy. Fortunately, as President Obama has said, “Nobody does innovation better than America.” It’s not just our first-rate colleges and universities, though they certainly are a big part of it. It’s the American workforce. According to the President,“Nobody has a greater diversity of talent and ingenuity. No one’s workers or entrepreneurs are more driven or more daring.”
Talent, ingenuity, tenacity and a willingness to take risks. These are the same strengths I see as I travel around the country meeting with minority business owners; strengths that match up with the demands of today’s global economy.
Why is innovation so important? We know it’s the key driver of competitiveness, wage and job growth, and long- term economic growth. We also know that it was Federal government investments in research, education, and infrastructure that made our economy competitive in the past. It was government’s support that paved the way for private sector growth and laid the foundation for American global leadership.