U.S. Department Of Commerce (DOC)
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Recent News About U.S. Department Of Commerce (DOC)
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Thank you, Eric, for that introduction and your continued leadership. Hello everyone, and welcome to the Department of Commerce. It is a pleasure to join you all here to discuss our efforts to ensure that all Americans and businesses have the resources they need to succeed and thrive.
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The Biden-Harris Administration has announced preliminary terms with GlobalWafers to significantly increase the production of silicon wafers in the United States. The U.S. Department of Commerce and GlobalWafers America, LLC, along with MEMC LLC, subsidiaries of GlobalWafers Co., Ltd., have signed a non-binding preliminary memorandum of terms (PMT) to provide up to $400 million in proposed direct funding under the CHIPS and Science Act. This initiative aims to bolster domestic semiconductor wafer production and advance U.S. technology leadership.
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The Labor Department’s Bureau of Labor Statistics reported a 0.1% drop in consumer prices for June, marking the lowest core inflation rate in over three years. Additionally, the U.S. economy added 206,000 jobs in June, surpassing expectations and bringing the total number of jobs created under President Biden to a record 15.7 million.
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On June 18, the Department of Commerce Office of Faith-Based & Neighborhood Partnerships, in collaboration with the Boys & Girls Clubs of Greater Washington, organized the National Youth Summit 2.0 in Washington, DC. Secretary Raimondo, Deputy Secretary Graves, Acting Under Secretary Morrissette, and President and CEO of BGCGW Gabrielle Webster led the event with keynote remarks emphasizing the Administration's commitment to celebrating, empowering, and uplifting youth from communities nationwide.
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Today marks the second anniversary of the U.S. Department of Commerce's issuance of the National Travel and Tourism Strategy, which set a five-year goal to welcome 90 million international visitors annually by 2027. The Department has announced that it expects to reach this target ahead of schedule. According to the latest estimates from the International Trade Administration, the United States anticipates welcoming 91 million annual visitors by 2026, surpassing the original goal one year early.
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Today, as part of President Biden’s Investing in America agenda, the U.S. Department of Commerce issued a Notice of Intent (NOI) to open a competition for new research and development (R&D) activities aimed at establishing and accelerating domestic capacity for semiconductor advanced packaging. The CHIPS for America program anticipates up to $1.6 billion in funding innovation across five R&D areas, as outlined in the vision for the National Advanced Packaging Manufacturing Program (NAPMP). Through potential cooperative agreements, CHIPS for America would make several awards...
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President Biden has emphasized creating high-quality, well-paying jobs for Americans, supported by funding from the CHIPS and Science Act, the Bipartisan Infrastructure Law, and the Inflation Reduction Act. This focus has led to increased demand for construction jobs. To meet this demand, Commerce Secretary Gina Raimondo is intensifying efforts to recruit, train, hire, and retain thousands of women in construction and trades.
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The Department of Commerce is calling for nominations for the 2024 Sustainability, Energy, and Environmental (SEE) Ambassadors program. The SEE Ambassadors program recognizes individual Departmental employees for outstanding performance in implementing exceptional projects and programs that help the Department meet goals related to sustainability, energy and water reduction, clean energy, climate change adaptation, environmental justice, resilience, and environmental performance.
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The Department of Commerce is calling for nominations for the 2024 Sustainability, Energy, and Environmental (SEE) Ambassadors program. The SEE Ambassadors program recognizes individual Departmental employees for outstanding performance in implementing exceptional projects and programs that help the Department meet sustainability, energy and water reduction, clean energy, climate change adaptation, environmental justice, resilience, and environmental performance goals.
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The Biden-Harris Administration, through the U.S. Department of Commerce’s Economic Development Administration (EDA), announced a new funding round of approximately $504 million in implementation grants to 12 Tech Hubs. This initiative aims to scale up the production of critical technologies, create jobs in innovative industries, and strengthen U.S. economic competitiveness and national security.
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The U.S. Department of Commerce has announced a preliminary memorandum of terms with Rogue Valley Microdevices (RVM) to support the construction of a new foundry facility in Palm Bay, Florida. The proposed investment, valued at up to $6.7 million under the CHIPS and Science Act, aims to nearly triple RVM’s production capacity.
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Commerce Secretary Gina Raimondo addressed the inaugural National Child Care Innovation Summit on June 28, 2024. In her remarks, she emphasized the economic implications of childcare, describing it as a critical issue affecting families, businesses, and communities.
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Achieving the full potential of the U.S. economy requires that every American entrepreneur can start and grow their business regardless of background. Yet some communities face disproportionate barriers to the resources needed to turn their entrepreneurial dreams into reality. For example, the U.S. Federal Reserve found that more than half of Black-owned businesses were turned down for bank loans, a rate twice as high as white business owners. Black-owned businesses received less than 1 percent of venture dollars and Latino/a-owned businesses received less than 2 percent in...
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In honor of Pride Month, Commerce Secretary Gina Raimondo and Deputy Secretary Don Graves joined Commerce employees earlier this month in raising the Progress Pride Flag outside the Commerce Department building. Flown throughout June, the flag celebrates the diversity of the LGBTQI+ community.
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Since its founding in 1969 by President Nixon, the Minority Business Development Agency (MBDA) has been dedicated to promoting the growth of minority business enterprises through public and private sector programs, policy, and research. This mission is based on the understanding that achieving the full potential of the U.S. economy requires enabling every American entrepreneur to start and grow their businesses regardless of background.
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U.S. Department of Commerce Secretary Gina Raimondo and Korean Minister of Trade, Industry, and Energy Ahn Duk-geun convened the second United States-Korea Supply Chain and Commercial Dialogue (SCCD) Ministerial Meeting on June 27, 2024. The meeting reviewed progress in deepening bilateral economic and commercial cooperation.
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The 10th SelectUSA Investment Summit concluded yesterday, marking the largest event in its history with over 5,000 attendees from 96 international markets and representation from all 56 U.S. states and territories for the first time.
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According to new survey data from the Federal Reserve’s 2023 Survey of Household Economics and Decisionmaking (SHED), low-income families are more likely to reduce work to care for young children, while high-income families are more likely to pay for care. These differing decisions have financial consequences, as families who reduce work are less well off financially than those who do not. Although families who pay for care are better off overall, child care costs remain a notable expense. On average, families who pay for care spend about half as much on that care as they do...
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The U.S. Department of Commerce, in collaboration with the U.S. Chamber of Commerce and the U.S. Chamber of Commerce Foundation, hosted a National Child Care Innovation Summit on June 27, 2024. The event gathered hundreds of public- and private-sector stakeholders from over 40 states to discuss child care as essential economic infrastructure and explore solutions for accessible, affordable, and high-quality child care.
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U.S. Secretary of Commerce Gina Raimondo and Japanese Minister of Economy, Trade, and Industry Ken Saito convened a ministerial meeting today under the Japan-United States Commercial and Industrial Partnership (JUCIP). During the session, both officials expressed significant concern over the weaponization of economic dependencies and non-market policies affecting strategic goods supply sources.