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Secretary Bryson Travels to Pittsburgh to Tour Energy Company and Meet with Business LeadersAquion Energy, a Carnegie Mellon University spin off, is working on bringing new battery technology to market
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The Latest From The Commerce Blog
Why Investing in R&D Matters
- Economy
- Innovation
- Investment
- R&D
- Bureau of Economic Analysis
- Economics and Statistics Administration
What do the electric light bulb, the internal combustion engine and the transistor have in common? They are all examples of how innovative ideas can bring rapid change and growth to our economy. Innovation has long been recognized as an important driver of economic growth. New ideas can spark wave upon wave of new goods and services that literally transform the economy, making it more robust and vibrant.
What exactly is innovation? A precise explanation can be elusive, but common to every definition is the idea of realizing commercial value by creating something that did not previously exist. And, while economists agree that innovation is important for economic growth, actually measuring it is quite a challenge. Innovation is what’s known as an intangible asset. It’s hard to quantify. Understanding the role of intangible assets–and thus the role of innovative activity in general–is critical to understanding the modern economy.
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Acting Deputy Secretary Blank Meets with Frédéric Lefebvre, French Minister
- Economy
- Exports
- Frédéric Lefebvre
- International trade
- Investment
- SelectUSA
- International Trade Administration
- Acting Deputy Secretary of Commerce and Under Secretary for Economic Affairs Rebecca Blank
Yesterday, Acting Deputy Commerce Secretary Rebecca Blank met with Frédéric Lefebvre, French Minister for Commerce, SMEs, Tourism, and Consumer Policy, at the Commerce Department to discuss ways to increase cooperation in the U.S.-France commercial relationship. Lefebvre is in Washington briefly before traveling to Miami for the World Symposium of French Trade Advisors on February 9–10.
In light of the Euro crisis, Blank and Lefebvre discussed French growth prospects and U.S. exports, as well as government initiatives, such as BusinessUSA, aimed at improving competitiveness, creating jobs and cutting bureaucratic red tape. They also talked about strategies that each government is pursuing to increase tourism and ideas for cooperation in order to increase trade and investment flows. In addition, Blank and Lefebvre talked about foreign direct investment through the SelectUSA program. Blank said she looks forward to continuing to strengthen the trade relationship between the two countries.
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Acting Deputy Commerce Secretary Rebecca Blank Highlights Skills Initiatives in Madison, Wisconsin
- Economy
- Education
- Innovation and entrepreneurship
- Jobs
- Madison
- Madison Area Technical College
- STEM
- Wisconsin
- Wisconsin Institutes for Discovery
- Economic Development Administration
President Obama recently laid out plans in his State of the Union address to foster an economy that’s built to last by ensuring that America has the highly skilled workers necessary for 21st century jobs. Yesterday, Acting Deputy Commerce Secretary Rebecca Blank traveled to Madison, Wisconsin, where she visited the Madison Area Technical College, a training ground for students that leads directly to skilled manufacturing jobs nationwide. Blank met with students and sat in on a training class focused on hybrid vehicle technology. Blank also delivered remarks on science, technology, engineering and mathematics (STEM) workforce training and met with business and university leaders. Commerce’s Economic Development Administration recently teamed up with Madison College to provide mobile technical training opportunities both on-campus and throughout the region. The training focused on advanced manufacturing and automotive technology.
Blank also visited with several business and academic leaders, who are vital partners in the area of technical training at the Wisconsin Institutes for Discovery.
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