For Immediate Release: August 20, 2010
Contact: Mary Trupo (202) 482-3809
SENIOR OBAMA ADMINISTRATION TRADE OFFICIAL DISCUSSES HOW INCREASED EXPORTS WILL HELP EXPAND TAMPA’S ECONOMY AND CREATE JOBS
TAMPA, Fla. – Under Secretary of Commerce for International Trade Francisco Sánchez today discussed how small and medium-sized businesses in Tampa can grow their exports and help create jobs and spur economic growth in support of President Obama’s National Export Initiative (NEI). Sanchez was speaking to more than 200 local business people at the “Fueling Economic Recovery through Exports for Small and Medium Enterprise” luncheon.
“Trade is a key component in growing the American economy, and the Tampa Bay region is doing its part,” Sánchez said. “The Port of Tampa is strategically developing new trade routes with Caribbean nations to expand exports, including the Dominican Republic, Puerto Rico, and Panama.”
Earlier in the day, U.S. Representative Kathy Castor and Sánchez met with 25 Florida exporters during a roundtable at the port. Castor applauded the Port of Tampa’s efforts to increase exports and local jobs.
"Exports and goods leaving the Port of Tampa touch every corner of our globe, making the port one of the largest economic engines and job creators in our state," Castor said. "In this global economy, we need to keep our jobs right here in America, right here in the Tampa Bay region, and find creative ways to expand our exports abroad. That way, we will ensure that our jobs don't go overseas."
Sánchez offered insight on how Florida’s exporters can benefit or take advantage of the NEI, which aims to double U.S. exports over the next five years. The NEI will provide more funding, more focus and more cabinet-level coordination to grow U.S. exports, and represents the first time the United States will have a government-wide export-promotion strategy with focused attention from the president and his cabinet.
“The NEI is a government-wide effort to increase U.S. exports to break down trade barriers, helping U.S. companies succeed abroad,” Sanchez said.
Since the President announced the NEI, the Department of Commerce’s International Trade Administration (ITA) has assisted American companies competing for export opportunities, supporting $11.7 billion in exports and an estimated 70,000 jobs. To date, the Commerce Department has coordinated 19 trade missions with more than 195 companies to 25 countries.
Exports remain an integral part of the U.S. economy. In 2008, American exports accounted for nearly 7 percent of our total employment and one in three manufacturing jobs. During the first four months of 2010, exports grew almost 17 percent compared to the same period last year.
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International Trade Administration
The International Trade Administration (ITA) is the premier resource for American companies competing in the global marketplace. ITA has 2,100 employees assisting U.S. exporters in more than 100 U.S. cities and 77 countries worldwide. For more information on ITA visit www.trade.gov.
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