|Created on February 25, 2013|
On February 12, President Obama delivered his annual State of the Union Address to a joint session of Congress. Last year when addressing the same body, the President laid out a blueprint of an economy built to last. One built on the idea that if we all play by the same rules and everyone is given a fair chance, America can succeed.
In the year since that speech, the United States has seen tremendous growth. The economy added 1.8 million new jobs. Exports reached record levels in 2012 of $2.2 trillion and the deficit shrank by $200 billion.
This year, the President outlined a path forward, continuing the progress made in 2012. He proposed fair and sensible tax reform that benefits small businesses and investments in manufacturing hubs across the country to foster continued growth in that sector. As he noted, the manufacturing sector has added about 500,000 new jobs during the past three years. Reinforcing the idea that "Made in America" is still the best brand around the world, companies like Caterpillar and Apple are bringing jobs back to America.
Opening new markets for American exports as part of the National Export Initiative also continues to be a priority for the Administration in 2013. The President’s decision to launch negotiations on a Transatlantic Trade and Investment Partnership with the European Union is just one example of the new opportunities for growth on the horizon.
For its part, MBDA experienced another year of record performance, generating $4 billion in contracts and creating nearly 6,000 sustainable jobs. Aligned with the President’s vision, we launched centers of excellence in Georgia to serve advanced manufacturing firms and in San Antonio to assist firms with global expansion strategies.
President Obama made clear that though it is his responsibility to report on the State of the Union, it is the task of us all to improve it. As a member of the Administration, I am excited and honored to be one of his partners for progress and your partner for growth and expansion. Though the world is full of challenges it is also full of opportunities and I look forward to working with each of you to seize them.