Posts Tagged ‘White House’

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President Obama’s FY 2015 Budget Proposes a $36.7 Million Increase for ITA

March 14, 2014

Ken Hyatt is the Acting Under Secretary of Commerce for International Trade.A view of the front of US Department of Commerce Building Washington, D.C.

The International Trade Administration (ITA) staff works diligently to help U.S. businesses – small, medium, and large – sell their products and services across the globe, which helps grow the U.S. economy and improve our global competitiveness. President Obama highlighted the importance of ITA’s work through his FY 2015 budget request.

The President released his fiscal year 2015 budget last week, will full Commerce Department budget information and analyses released today. The FY15 budget included $497.3 million for ITA, which is a $36.7 million increase from the $460.6 million appropriated in 2014. This increase will allow us to better serve American businesses through expanding access to markets, ensuring a level playing field for doing business abroad and helping foreign companies invest in the U.S.

In addition, the budget includes a call from the President to rename ITA the International Trade and Investment Administration, a move that more accurately reflects the mission of our organization and acknowledges our ongoing efforts to attract foreign direct investment to the United States. It also more accurately reflects the mission of ITA and how we help create jobs, not just from exports, but from inward investment.

The United States is the largest recipient of foreign direct investment (FDI) in the world. In 2012, FDI brought $160 billion into the United States economy. In addition, FDI supported more than 5.6 million jobs in the United States in 2011. That’s 4 percent of our total private sector employment.

The SelectUSA program is the first federal-wide effort to promote and facilitate business investment as an engine for job growth and economic development. It serves as the single point of contact at the national level to help international and domestic firms grow and invest in the United States.

With more money and a more accurate name for our institution, we are confident we’ll help even more American businesses grow and create jobs through our many resources and services! If your business is ready to start exporting or re-shoring, take a look at our website to get started making the most of international markets.

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Discussion Panel at the White House Clean Energy Forum

July 16, 2010

Courtney Gregoire is Director, National Export Initiative.

Today, I moderated a panel at the White House Clean Energy Forum on “International Leadership, Competitiveness, and Exports” featuring three industry leaders: Bruce Sohn, President of First Solar; Mary Ann Wright, Vice President of Global Technology and Innovation Accelerator for Johnson Controls; and Steve Bolze, the President and CEO of GE Power and Water.

With approximately 100 clean energy business and thought leaders, Secretary of Commerce Gary Locke kicked off the forum with his words:  “The development of clean energy and energy efficient technologies could spur the greatest economic opportunity of the 21st century.”

A spirited conversation ensued as panelists and audience members alike commented that the key to expanding clean energy exports is increasing domestic demand for clean energy, and that starts with enacting comprehensive energy legislation.   Others commented on the significant clean energy investments made by other countries from China to Brazil to Germany.  Competing in this globally competitive marketplace, as one audience member put it, requires a call for the “revolutionary, not evolutionary.”

ITA is attempting to rise to that challenge by developing a strategy to double renewable energy and energy efficiency exports in the next five years as part of President Obama’s National Export Initiative.

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