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Created on April 10, 2013
I have the pleasure of meeting frequently with business owners from across the country. They talk about where their challenges are in growing and sustaining their businesses, and they also talk about how locating production abroad hasn’t always turned out as well as they had hoped. Not surprisingly, during our current economic recovery and expansion, news reports and private consultants have repeatedly echoed that thinking. Increasingly we hear that U.S. companies that previously took their operations or supply chains overseas are now reshoring or insourcing─bringing operations and supply chains back home to America.
To help continue that momentum, the Department of Commerce today published a new tool to help inform manufacturing firms’ location decisions. The Assess Costs Everywhere (ACE) tool outlines the wide range of costs and risks associated with offshore production, and provides links to important public and private resources, so that firms can more accurately assess the total cost of operating overseas. ACE also shares case studies of firms that reversed their decisions to locate offshore once the full range of costs became clear.
Created on April 4, 2013
The Minority Business Development Agency (MBDA) held a ribbon cutting ceremony today to announce the creation of a new business center to be housed at the State of New Mexico’s Indian Affairs Department (IAD). The Center received $1,275,00 from the MBDA for five years to work with New Mexico tribes. The Santa Fe Center, in collaboration with the IAD, will assist the Native American Business Community in New Mexico in three basic areas: (1) client services; (2) program promotion and advocacy; and (3) operational and performance management.
Ted Pedro, the Center’s Project Director added that, “These components are designed to identify immediate and long-term client needs and expectations, establish projected growth tracks, implement targeted plans of action for increasing size, scale and capacity, provide strategic referrals, increase exposure and visibility of the MBDA Business Center program, and to maintain the quality of center operations while promoting the achievement of our client’s outcomes.” View event photos below.
Created on April 4, 2013
The following blog post was written by U.S. Commerce Deputy Secretary Rebecca Blank and Special Assistant to the President and Director of the White House Office of Social Innovation and Civic Participation Jonathan Greenblatt.
Today, we honor the anniversary of the passing of former U.S. Secretary of Commerce Ron Brown. Secretary Brown was a dedicated public servant whose untimely death during a trade mission to Croatia on April 3, 1996 ended his life far too soon. His vision continues to be important and today’s work at the Department of Commerce builds on his legacy.
Secretary Brown served his country in Korea as a soldier in the U.S. Army and in the halls of Congress as chief counsel to the Senate Judiciary Committee. He also broke down barriers – becoming the first African American chairman of the Democratic National Committee and the first African American to serve as U.S. Secretary of Commerce. In this latter role, he made perhaps his largest impact.
|Created on April 1, 2013|
As part of the Executive Order signed by President Obama last month directing agencies to use their existing authorities and work with the private sector to better protect our nation’s power, water, and other critical systems, the Commerce Department is preparing a report on ways to incentivize companies and organizations to improve their cybersecurity. To better understand what stakeholders – such as companies, trade associations, academics and others – believe would best serve as incentives, the Department has released a series of questions to gather public comments in a Notice of Inquiry published today.
|Created on March 28, 2013|
According to Ernst & Young’s “Six Trends Shaping the Global World,” 70% of world growth over the next several years will come from emerging markets. The emerging markets in Brazil, Russia, India, and China, commonly referred to as BRIC will represent 50% of global gross domestic product growth (GDP). Furthermore, between now and 2050 world population is estimated to grow by around 2.43 billion and global GDP reach $56 trillion.