Posts Tagged ‘jobs’

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New Data Show Jobs Impact of Export Destinations

July 8, 2014

Isabel Sackner-Bernstein is an intern in the International Trade Administration’s Office of Public Affairs. She is studying Strategic Communication at Elon University.

Chart schows that NAFTA supports 25 percent of US export related jobs. Asia and Pacific supports 28%, EU supports 22%, Latin America without Mexico supports 10%. Middle East and Africa 6%, other destinations 9%.What is an export to Canada actually worth?

We know that Canada has always been an important trade partner with the United States, and we know that total exports to Canada were more than $360 billion in 2013, but new data released from the International Trade Administration (ITA) now give more insight into the value of U.S. exports by destination than just dollar amounts.

What are exports to Canada worth? How about nearly 1.7 million U.S. jobs?

New data from ITA show exports to Canada supporting more jobs than any other U.S. export market, with Mexico as a close second at about 1.1 million. Other top destinations were China, Japan, and the United Kingdom.

The exports to these countries alone supported nearly 4.8 million U.S. jobs last year, which is almost as much as the entire populations of Chicago and Houston combined.

Here are some more quick facts we learned from this new data that you can impress your friends with:

  • U.S. exports set a record for a fourth consecutive year in 2013, reaching $2.3 trillion;
  • Exports to the Asia-Pacific region supported 3.2 million jobs, or 28 percent of all export-related jobs;
  • Canada was the top destination for U.S. exports in 2013, and nearly 1.7 million U.S. jobs were supported by these exports, and;
  • Although they beat us in the World Cup, goods exports to Belgium supported nearly 140,000 U.S. jobs.

Want to learn more? Check out the full report online.

So now that you’re the most well-informed member of your friend group, spread the word about how exporting is growing our economy. Talk to your local U.S. Export Assistance Center to find out how to make your business go global.

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FDI Supporting the U.S. Economy

February 10, 2014

Felicia Pullam is the Director of Outreach for the SelectUSA Program.

We’re excited to announce the release of SelectUSA’s report on Foreign Direct Investment (FDI) in the United States: Drivers of U.S. Economic Competitiveness

The paper takes a closer look at the impact of FDI on the U.S. economy. Included in the report is an analysis of the competitive advantages that make the United States an attractive destination for investors and trends in FDI by geography and industry sector.

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Foreign direct investment is a prime source of capital, job creation, innovation, and cross-border trade. FDI has continued to flourish in the United States because firms worldwide recognize the United States as an innovative and stable market executed in the world’s largest economy. The United States offers an unmatched opportunity for success due to its renowned educational institutions, growing industry clusters, first-class research and development centers, protection for intellectual property rights, an entrepreneurial environment, access to global markets, a predictable regulatory climate, and increasingly competitive cost factors.

Key takeaways include:

  • The United States is both the largest recipient and source of FDI in the world. FDI has long been an integral part of our economy. In 2012, the total stock of direct investment in the United States was $2.7 trillion and FDI inflows totaled $160.1 billion.
  • FDI creates jobs:  As of 2011, the most recent data available, majority-owned subsidiaries of multinational firms with U.S. operations employ more than 5.6 million workers and pay an average annual compensation of $77,600.
  • FDI contributes to U.S. innovation and helps drive exports:  These firms also spent more than $45 billion in research and development here and accounted for 20.5 percent of U.S. goods exported in 2011.
  • The five largest country sources of FDI in the United States are the United Kingdom, Japan, Germany, Canada, and France, according to the U.S. Bureau of Economic Analysis.  The latest estimates of FDI stock by ultimate beneficial owner reveal that Together, these economies account for nearly 61.5 percent of total FDI stock.  In addition, markets across Asia, Latin America, and Europe have substantially grown their FDI position in the United States in recent years.
  • The United States wins out in investment climate according to the June 2013 FDI Confidence Index, A.T. Kearney awarded the United States the top spot.  The World Economic Forum’s (WEF) Global Competitiveness Index ranks the United States among the top ten economies based on strengths in innovation, education, and overall size of economy.

Download the report here: Foreign Direct Investment (FDI) in the United States: Drivers of U.S. Economic Competitiveness.

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What Happens in Vegas… Is Good for the Economy

June 11, 2013

This post contains external links. Please review our external linking policy.

Calynn Jenkins is an intern in the International Trade Administration’s Office of Public Affairs. She is studying political science at American University. 

Clark County Commissioner Tom Collins, Acting Deputy Under Secretary for International Trade Ken Hyatt, and LVCVA President/CEO Rossi Ralenkotter sign a Memorandum of Agreement between ITA and LVCVA.

Clark County Commissioner Tom Collins, Acting Deputy Under Secretary for International Trade Ken Hyatt, and Las Vegas Convention and Visitors Authority President/CEO Rossi Ralenkotter sign a Memorandum of Agreement to support Nevada’s tourism industry.

The United States’ growth in travel and tourism exports is the result of more than just a roll of the dice. Export success in this industry requires partnerships. Partnerships among government agencies as part of President Obama’s National Travel and Tourism Strategy have helped, and government leaders took another step earlier today.

Tuesday morning, Acting Deputy Under Secretary of Commerce for International Trade Kenneth Hyatt signed a Trade Promotion Partner Memorandum of Agreement (MOA) with the Las Vegas Convention and Visitors Authority (LVCVA). This agreement between the International Trade Administration (ITA) and LVCVA creates a strategic partnership in order to strengthen Nevada’s tourism sector.

“LVCVA and ITA share a common mission to increase travel and tourism in the United States in order to boost our economy and create jobs,” said Hyatt. “I am pleased to commemorate our new partnership that will be instrumental in helping the Southern Nevada region increase the number of international visitors it attracts.”

Signing this agreement with Las Vegas makes sense; Las Vegas is a key destination for international travelers, with 39.7 million visitors in 2012. LVCVA has a goal of increasing the percentage of international visitors to Nevada from 17 to 30 percent.

“We will leverage the strength of the Las Vegas brand and the Las Vegas Convention Center’s World Trade Center designation to further position Las Vegas as a global business destination,” said LVCVA President/CEO Rossi Ralenkotter.

“Tourism drives the economic vitality of Las Vegas and supports nearly half of all the jobs in Southern Nevada,” said Clark County Commissioner Tom Collins. “The business community understands the importance of the industry.”

Not only will this agreement help the state of Nevada’s tourism sector and economy, but it supports nationwide growth in the industry. Travel and tourism supported 7.5 million jobs for American workers in 2012.

The International Trade Administration is committed to the continued growth of the U.S. travel and tourism sector. To learn more about our efforts visit the Office of Travel and Tourism Industries and for detailed information on international travel and tourism visit the 2012-2018 forecast.

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Celebrating World Trade Throughout May

May 1, 2013

Francisco J. Sánchez is the Under Secretary of Commerce for International Trade.

May brings warmer weather, longer days, and, most importantly for us at the Department of Commerce, World Trade Month. For years, this has been a special time to reflect on the importance of trade to our nation’s economic well-being.

Over the past few months, we’ve discussed what an important year 2012 was for exports and our  economy: a record-setting $2.2 trillion in overall exports, 10 percent annual growth in tourism-related exports, and 9.8 million U.S. jobs supported by exports.

World Trade Month is an occasion to recognize the past year’s successes while looking ahead to new ways to expand exports and build a stronger economy. It’s a month for us to recognize what we know all year long: that exports are a key to our long-term economic health.

The month of May will provide many opportunities to do just that. Events and observances to look out for include:

  • National Travel and Tourism Week, a celebration of that industry’s contributions to the U.S. economy, will take place from May 4-12.
  • On May 16, the Small Business Administration and Denver U.S. Export Assistance Center will co-sponsor the 40th Annual World Trade Day.
  • May 19 will bring the start of World Trade Week, a tradition dating back to 1927 and marked by a Presidential proclamation.
  • During that week, the President’s annual “E” Awards will be presented to leading U.S. exporters.

Have a question about getting started in exporting? Twitter chats throughout the month will offer chances to learn about exporting and pose questions to government agencies involved in President Obama’s National Export Initiative.

World Trade Month Updates:

We invite you to check this post or our World Trade Month category for regular updates on these and other events. You can also visit our Facebook page or follow us on Twitter.

As we kick off World Trade Month 2013, our team looks forward to continuing to support our nation’s exporters as they build things here and sell them everywhere.

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Firing on All Cylinders: FDI Fuels Jobs in South Carolina, U.S.

April 2, 2013

Michael Masserman is the Executive Director for Export Policy, Promotion & Strategy for the International Trade Administration.South Carolina flag

We often talk about the synergy between U.S. exports and foreign direct investment in the United States. Last week I witnessed that interplay firsthand at the Robert Bosch LLC manufacturing facilities in Charleston, South Carolina.

Headquartered in Stuttgart, Germany, Bosch invested and began production in South Carolina in 1974. Bosch’s Charleston plant now employs more than 1,700 people in the development and manufacturing of modern gasoline-engine systems, high-precision diesel technology, and cutting-edge automotive safety equipment.

Bosch is a leading exporter of gas cylinders and other products made at their South Carolina plants to the 95 percent of consumers beyond our borders. They are helping to drive U.S. exports of motor vehicles and parts to all-time record highs. In fact, U.S. exports of motor vehicles and parts increased nearly 80 percent from 2009 to 2012, to total $132.7 billion.

A little known fact is that exports from U.S. affiliates of global firms, like Bosch, represent nearly one-fifth of all U.S. exports. That’s why at the International Trade Administration, we focus on the relationship between our work under the President’s National Export Initiative and our efforts to promote investment in the United States through SelectUSA.

South Carolina — and Charleston, especially — has a rich history in trade and foreign direct investment, or FDI. FDI, through U.S. affiliates of foreign firms, now supports 104,300 jobs in South Carolina.

And, the strong base of foreign direct investment in Charleston positions the area to further its already impressive export growth. According to the Commerce Department’s preliminary data — in 2012 — this region exported over $2.4 billion in merchandise shipments. That’s a nearly six percent increase from the year before – all in the face of significant global economic headwinds.

I applaud efforts in Charleston to seize the opportunity to create and implement a regional export plan through the Metropolitan Export Initiative. We are proud to partner with the Brookings Institution to help metropolitan areas across the country incorporate exports into their local economic development strategies, which will help to ensure long-term sustainable economic growth.

Combining efforts of investment and business attraction with exports (a key component of business expansion and retention) will ensure regional economic development across our country becomes even more global in scope.

Companies like Bosch are informing these local planning efforts. The private sector has a critical seat at the table and position to shape export strategies and promotional efforts based on their experiences.

After all, Bosch is firing on all cylinders, and we should take note.

From an initial investment almost 40 years ago, Bosch plants in South Carolina now support advanced manufacturing, R&D, U.S. exports, and skilled jobs where we need them – here at home.

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One Shining Moment for American Exports

March 18, 2013

Francisco Sanchez is the Under Secretary of Commerce for International Trade.

Uder Secretary Sanchez has Louisville, Indiana, Ohio State and Kansas in his Final Four. He picked Louisville to beat Indy for the championship. Notable upsets include Harvard making the Sweet 16 and Wisconsin knocking out Gonzaga to make the Elite 8.

Francisco Sanchez picked Louisville as the 2013 NCAA basketball champion.

I may not be the biggest basketball fan.

Still I, like so many Americans, spent some time Sunday night predicting the outcomes of one of our country’s great traditions – the NCAA Basketball Tournament. You may well have been doing the same thing; the NCAA Tournament bracket is a ubiquitous image, appearing on countless office walls and bedroom doors all over the country.

Now I may not regularly cheer for basketball, but I’m a huge fan of exports. And what you may not have realized when you filled out your bracket is that you were, in fact, supporting American exports.

It’s true: The television licensing for the tournament, the apparel licensing for universities, and the education industry itself are all American export industries, supporting thousands of American jobs.

As the NCAA Basketball Tournament is a great American tradition, exports are also a great tradition for us at the International Trade Administration. So over the next couple of weeks, we’ll be sharing some information with you that shows how this celebrated American custom ties into American exports, thereby supporting the American economy.

Before we kick that off, we have our own fun office competition to share with all of you:

As you may know, we have Export Assistance Centers (EACs) all over the country to help U.S. businesses compete globally. Well, we asked the four offices closest to the four #1 seeds in the tournament to fill out a bracket on Selection Sunday to post on our blog. I’m submitting mine for competition as well. So here are the participating offices representing the top seeds and their brackets:

How does your bracket stack up to each of ours? How are you going to be supporting exports during this year’s tournament? Let us know here or get involved in the conversation on Twitter and Facebook. Make sure to support your team and American exports as we crown national champions in men’s and women’s college basketball this year.

Be sure to check back on the blog as we highlight just how much of an impact American pastimes like March Madness contribute to American exports. No matter who wins, the U.S. is always the champ when we support exports.

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Analysis: The Global Push for American-Made

March 13, 2013

The following is an excerpt from an op-ed piece written by Francisco Sanchez, Under Secretary of Commerce for International Trade.Francisco Sanchez is the Under Secretary of Commerce for International Trade

There’s no doubt about it: Doing business in America is changing. And businesses with even the most loyal customers are finding that their customers are changing, too. In an increasingly global marketplace, business owners across the U.S. are realizing that their next major customer may no longer come from across town, but beyond our borders.

While news of American exports may not capture the headlines as government shutdowns and political impasses do, the proof is in the thousands of regional businesses who are witnessing its value first hand.

Not only did U.S. exports outpace the growth of imports in 2012 for the first time since 2007, but exports have helped support the creation of more than 6 million private-sector jobs during the past 35 months. The world wants what America makes.

Read the remainder of the piece at the Charleston Regional Business Journal.

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Recognizing Three Years of Export Growth

March 12, 2013

Francisco Sánchez serves as the Under Secretary of Commerce for International Trade. A trend of rising exports since 2009 culminated in a record $2.2 trillion in exports in 2012, supporting 9.8 million American jobs.

During the last several weeks, we’ve highlighted a lot of great news in the business of U.S. exports.

From record exports in travel and tourism to successes in gaining access for American companies to foreign markets, 2012 gave us a lot to be proud of in the field of exports. More important than just the dollar amounts is the fact that almost 10 million jobs were supported by these exports in 2012.

This success is the direct result of a concentrated initiative introduced by President Obama in 2010, one that has coordinated the efforts of several U.S. government agencies to increase American exports and create American jobs. Under the National Export Initiative (NEI), we’ve seen U.S. exports increase from $1.58 trillion in 2009, to a record $2.2 trillion in 2012.

We recognize the third anniversary of the NEI this week, so we’ll be sharing some of the successes we’ve seen under this initiative over the next several days.

I hope you will get in on the conversation. How have exports helped your business? How can the International Trade Administration and other government agencies help you increase exports? Follow some of America’s core export-promotion agencies on this Twitter list to learn about the government’s efforts to help U.S. business.

As always, ITA is here to help any U.S. company looking to create or increase exports. It all starts with a visit to one of our Export Assistance Centers or to export.gov.

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U.S. Trade and Exports Support 9.8 Million American Jobs

February 26, 2013

Tyler Braswell is an intern for the International Trade Administration’s Office of Public Affairs. He is studying International Business at George Washington University.Data from the Department of Commerce show that U.S. exports in 2012 totaled nearly $2.2 trillion, a record for American exports.

According to new data, in 2012, U.S. exports reached a record $2.2 trillion dollars – the largest annual export total in U.S. history. This 2012 total exceeds the previous year’s record high of $2.1 trillion.

Further, U.S. exports supported 9.8 million jobs in 2012, which means that U.S. exports have supported an additional 1.3 million jobs since the launch of the President’s National Export Initiative.

This growth is reflective of the efforts put forth by the International Trade Administration (ITA) and related government agencies.

As a student who will graduate with a degree in international business, I appreciate the focus the International Trade Administration places on expanding the U.S. economy beyond our borders. Specifically, this focus gives me hope that my particular degree and specialization will result in employment once I graduate.

The overall goal of the U.S. Department of Commerce is to promote job creation, economic growth, sustainable development, and improved standards of living for all Americans. Market development, expansion, and constant reform are vital to the success of the U.S. economy. It is exciting to know that President Obama is a major proponent of these ideas.

The President’s National Export Initiative and the supporting strategies created here at ITA are producing results – tangible results we are seeing through the jobs the increase in exports is supporting.

It is also exciting to know that the nearly 10 million jobs that exports support are in all 50 states and a range of industries. Here at ITA we will continue to do all we can to help U.S. businesses expand their exports in order to assist the American workers whose jobs these exports support.

Business looking to create or increase exports can visit www.export.gov to find out how ITA can help.

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Under Secretary Sánchez to Speak on Panel for Technology-Based Global Innovation

January 31, 2013

This post contains external links. Please review our external linking policy.

Tyler Braswell is an intern for the International Trade Administration’s Office of Public Affairs. He is studying International Business and attends George Washington University.

The Digital Age is upon us. The effect of digital technology on the global market has been well documented as technology-based companies continue to supply the world with innovative methods and products that increase the quality and efficiency of American lives and businesses.  The creation of jobs due to new technology as well as the continued financial success of technology-based firms has made the promotion of technology-based innovation a top priority for any economy looking to compete internationally.

President Obama’s plan to make high-speed wireless services available to 98% of Americans will make technology-based software and products even more accessible to American consumers. As technology is integrated more deeply into society, the U.S. is working to ensure that these integrations directly translate to domestic economic growth.

On Feb. 4, Francisco Sánchez, Under Secretary of Commerce for International Trade, will participate in an event hosted by the Information Technology Innovation Foundation (ITIF). The ITIF is a non-partisan think tank whose mission is to help American policymakers better understand the nature of a new innovation-driven economy.

The ITIF discussion panel will focus on the increase in global competition to host technology-based firms and the benefits that hosting such companies can have on a country’s economy. The event will also feature information on how countries attract technology-based firms and what the U.S. has done to improve its appeal to those firms. The Under Secretary will be joined on the panel by the general counsels for NCR and Qualcomm.

Sánchez and the panel will answer questions from industry participants concerning the advantages currently offered to firms that choose to do business within the United States.

The Under Secretary will also provide information on certain policies the U.S. has enacted to promote technology-based industry within the U.S. as well as trade agreements designed to benefit American companies.

The U.S. is actively advancing trade agreements and initiatives to broaden market access. Technology-based firms will be among the primary beneficiaries. Trade agreements like the Trans-Pacific Partnership (TPP) will help technology-based firms by expanding access to key Asian markets and removing bans on border crossing data-flows.

American leaders—both in government and business—appreciate that supporting technology-based firms is necessary to achieve President Obama’s goal of increasing our exports and re-balancing our economy, which are embedded in the National Export Initiative. This event will reaffirm the International Trade Administration’s commitment to increase exports, further the global expansion of domestic businesses, and attract new technology-based industries to the U.S. economy.

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