Secretary Locke Speaks with Silicon Valley Leadership Group on Obama Administration's Efforts to Foster Innovation
U.S. Commerce Secretary Gary Locke delivered remarks at the Silicon Valley Leadership Group (SVLG)’s annual luncheon today, emphasizing the steps the Obama administration has taken to turn around the U.S. economy and create jobs. Locke stressed the administration’s efforts to build a stronger foundation for long-term growth and prosperity by investing in research and development, a 21st century infrastructure and manufacturing, and underlined Silicon Valley’s role as the epicenter of technological innovation.
Sec. Locke wanted it to be known that “when it comes to new ideas, our only criterion is efficacy. It doesn’t matter if they come from the left or the right, the boardroom or academia. We simply will not rest until every American who wants a job can find one.”
Locke emphasized that President Obama’s proposed 2011 budget, while freezing domestic discretionary spending overall, actually increases funding for civilian R&D by nearly 6 percent. Also, he noted President Obama’s support a new business tax cut that will allow small businesses to deduct the full amount of new capital investments immediately.
Locke also highlighted President Obama’s National Export Initiative (NEI), which aims to double U.S. exports over the next five years in support of several million American jobs. The NEI will provide more funding, more focus and more Cabinet-level coordination to increase 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.