Remarks by Under Secretary Marisa Lago at the Newlab Pilot Showcase- MAY 7
Brooklyn, New York
May 7, 2024
As Prepared
Good morning, everyone. Thank you so much for your warm welcome, Shaina.
There are so many reasons that I’m delighted to be here today. It starts with the fact that I’m a native New Yorker who grew up not far from here on the South Brooklyn waterfront. In the 1950s, it was still a working waterfront, where my grandfather worked as a cook on a tugboat. I also have fond memories of wandering through the then nearly abandoned Navy Yard as a teenager in the early 70s, long before it sprang back to life.
Years later, when I headed New York State’s economic development agency in the late 2000s, my team helped transform the abandoned industrial waterfront at the foot of Brooklyn Heights into our beloved Brooklyn Bridge Park.
And, most recently, in 2021 I chaired the NYC City Planning Commission as we changed the zoning for the entire Navy Yard, allowing it to grow and evolve over the next 50 years.
Also, I have to admit to having a warm spot in my heart for the scientists and engineers who create at Newlab. I’m a STEM geek at heart, having gotten my Bachelor’s in Physics at Cooper Union many, many years ago.
But the main reason that I’m so pleased to be here today is that startups, like the creative firms that call Newlab their home, are the lifeblood of our vibrant economy, both in New York City and across the United States. You are the inspiring entrepreneurs who are conceiving and then building new ways to preserve our planet.
I’m also pleased to thank the many industry and financial partners that are here. Your financial support is an indispensable part of the groundbreaking solutions that are designed and launched at Newlab every day.
I’m here at Newlab today to introduce you to an agency that I lead at the U.S. Department of Commerce, called the International Trade Administration. We love acronyms in government, so we call ourselves ITA for short.
ITA’s core mission is to promote inclusive economic opportunity, specifically through international trade. The ITA team spans over 2,300 trade and business experts, who are located not just in Washington, D.C., but also in 80 international markets and in 100 locations across the United States — including offices in Harlem and Downtown Manhattan, just a short, fancy ride away from the Navy Yard. Across New York State, we also have team members in Westchester, Long Island, Rochester and Buffalo.
We love statistics at the Commerce Department, so here’s one to help capture the scope of our work. Every day, around 85 billion dollars’ worth of goods and services are traded across the globe. That’s about 80 percent of Brooklyn’s entire economy, moving around the world in a single day!
From the smartphones that we’re addicted to, to the groceries that we buy, international trade sustains how billions of people live and work every day. That’s why we celebrate World Trade Month every May, to recognize how international trade creates jobs and strengthens the U.S. and global economy.
But trade is about much more than the flow of products across borders. Boosting trade is also about driving innovation, promoting the most cutting-edge U.S. technologies, and tackling some of the world’s most pressing challenges — like climate change.
I bet some of you are thinking: Why are you talking about international trade at Newlab? Isn’t exporting just for large multinational companies? In fact, about 85 percent of the businesses that ITA serves are micro, small and medium-sized enterprises. Here in New York City, that percentage was even higher last year, at 92 percent! MSMEs represent the vast majority of U.S. exporters, and — in total — ITA served around 78,000 different U.S. MSMEs last year.
In other words, many of the technologies that are being showcased today have the potential to expand across international markets, helping countries around the globe make progress on climate ambitions. No matter the size of your business, my team at ITA stands ready to help you maximize your global impact. And we already work with several startups that are housed here at Newlab.
So, what does ITA do when working with a business like yours? We identify and screen potential international buyers or partners for your business. We help you understand the sometimes-complex international regulations and how to comply with them. We provide extensive industry-specific data and analysis that are essential for business decisions, such as the latest international trends or the top export markets for specific sectors — from clean energy, to transportation, to advanced manufacturing.
We lead trade missions, bringing U.S. businesses abroad to connect with potential distributors and partners, including through tailored meetings with foreign executives and government officials that match a business’s specific goals. We curate targeted networking opportunities with influential local chambers of commerce, industry associations and business councils — planting the seeds for new deals and collaborations.
On the climate crisis, in particular, ITA has been laser-focused since day one of the Biden-Harris Administration on promoting climate and clean energy solutions across the globe. In practice, that’s meant increasing exports of the most cutting-edge U.S. technologies, including exciting products that are being developed here at Newlab.
To state the obvious, we know that the United States can’t solve the climate crisis alone. That’s why we’re so bullish on promoting our best clean energy solutions abroad — because they’re vital to the climate transition both at home and around the world.
As a recent example, in March I traveled to Brussels for a Nuclear Energy Summit. When we talk about clean energy, many first think of solar or wind. But did you know that about half of our country’s carbon-free electricity — enough to power over 72 million homes — is generated from civil nuclear energy?
At this Nuclear Energy Summit, I met with senior government officials from scores of countries, ranging from Sweden to the United Arab Emirates — advocating for U.S. companies that offer top-notch civil nuclear energy solutions that can dramatically cut carbon emissions abroad.
Another example: last December, I led ITA’s largest-ever delegation to Dubai for the United Nations’ annual climate change conference (called COP28 to those in the know). There, we emphasized that U.S. companies are critical to global climate action. In concrete terms, ITA has supported U.S. companies involved in over $5.4 billion in climate projects abroad, since doubling down on climate as a top priority for the Biden-Harris Administration.
Beyond ITA, our colleagues at the U.S. Patent and Trademark Office — a sister agency at the Commerce Department — lead the way in protecting the valuable intellectual property that drives the vibrant U.S. economy. For all the innovators and entrepreneurs here today, your ideas and ingenuity are your livelihood. That’s why our colleagues at the Patent and Trademark Office — over 10,000 fellow engineers, scientists and attorneys — are so committed to partnering with you to protect your inventions, while promoting your impact.
I’d also be remiss not to mention the Biden-Harris Administration’s historic investments in climate action — through the Inflation Reduction Act, the Bipartisan Infrastructure Law, and the CHIPS and Science Act. These monumental measures are investing over one trillion dollars in U.S. industries and technologies for the future — from climate solutions to semiconductors.
As part of these investments, the Commerce Department has designated 31 different Tech Hubs across the United States, including two in New York State — spanning from Binghamton to Syracuse. Among these 31 Tech Hubs, a handful will be selected later this year to receive regional grants ranging from 40 to 70 million dollars each, bringing together public, private and academic partners to cultivate innovation and economic growth beyond our country’s existing urban centers. As a proud Brooklyn native myself, I love the fact that these Tech Hubs are seeking to emulate exactly what’s happening here at the Navy Yard.
I’ll close today by making a request to all of you. It’s abundantly clear that governments can’t solve the climate crisis alone.
The ingenuity of the private sector — including all of you — is vital to tackling the climate crisis. And, beyond achieving our own climate goals in the United States, the world also needs your best solutions.
Please keep innovating, pushing the boundaries of what we can achieve. And please consider working with ITA to bring your products abroad — no matter the size of your business or how long you’ve been around.
My team at ITA, at the Commerce Department, is ready and eager to partner with you — to do everything that we can to preserve the planet. The world needs your solutions, and we’re here to help introduce you to customers around the globe.
Thank you.