Blank highlights Obama administration economic initiatives and new Commerce program designed to attract foreign investment, create jobs
Acting U.S. Commerce Secretary Rebecca Blank traveled to Warren, Ohio, today to tour Thomas Steel Strip Corporation, a member of the Tata Steel Europe Group and a manufacturer of cold-rolled strips usually used as steel casings for batteries. Thomas Steel employs more than 250 people.
After the tour, Blank discussed the importance of strengthening our education,
infrastructure and innovation capacity as ways to rebuild our economic
foundation, create jobs and enhance our global competitiveness. She also
underscored the steps the administration has already taken to achieve these
priorities–from investing in community colleges and funding transportation
projects across the country, to launching the President’s National Export
Initiative and pushing to shorten the time it takes to approve a patent.
Blank also highlighted the significance of foreign direct investment (FDI), citing Tata Steel as an example of foreign companies whose investments the U.S. must attract more of to strengthen economic growth and job creation. With FDI supporting more than five million American jobs, Blank discussed a new government-wide initiative, housed at Commerce–SelectUSA–which seeks to cut federal red tape for domestic and foreign investors, remove barriers to new investment and boost business growth in the United States.