For Immediate Release: December 02, 2011
Contact: Mary Trupo (202) 482-3809
Under Secretary Francisco SÁnchez Links Expanding Exports to Economic Growth for Hispanic Community in South Florida
MIAMI – Francisco Sánchez, Under Secretary of Commerce for International Trade, today urged Latino business and community leaders to explore exporting as an avenue for expanding their businesses and creating jobs in South Florida during remarks at two events in Miami. Sánchez highlighted aspects of President Obama’s American Jobs Act and the potential impact of new trade agreements on economic growth during keynote remarks at a Latin Builders Association (LBA) luncheon and the White House Hispanic Community Action Summit.
“President Obama has made it clear that the most urgent challenge that America faces right now is getting our economy to grow faster and to create more jobs,” Sánchez told LBA members. “The American Jobs Act combined with the National Export Initiative represents a comprehensive package of national job and economic growth initiatives that will help revitalize South Florida’s construction industry and restore the growth of the local and regional economy.”
In 2010, private non-residential construction spending in Florida totaled more than $8.2 billion. U.S. non-residential construction spending topped $555 billion in 2010.
Later, Sánchez joined Obama administration officials and Hispanic community leaders for the White House Hispanic Community Action Summit. He discussed the different ways that Obama administration policies are having an immediate impact on accelerating job creation in South Florida.
“The recently approved trade agreements with Colombia, Panama, and Korea are going to have a positive impact on businesses here in South Florida and throughout the country,” Sanchez said. “These agreements will open new opportunities for American companies to sell their products and will have far-reaching benefits for your businesses.”
Florida businesses exported more than $3.5 billion in goods to Colombia and Panama between 2008 and 2010. The new agreements eliminated tariffs on many products to these markets, thus providing access to more Florida goods. More than 14 percent of manufacturing jobs in Florida depend on exporting.
“These agreements are advancing President Obama’s National Export Initiative that strives to double U.S. exports by the end of 2014 supporting several million American jobs,” Sánchez said.
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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