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Blog Entries from July 2012

EDA Helps Ohio Auto Community Build a New Future


Economic recovery in the wake of an economic disaster—such as the closing of a large employer—doesn’t happen overnight. It requires careful planning, the coordination of human and financial resources, and a willingness to consider alternative directions that will benefit the community in the long run.

This is the story that the city of Moraine, Ohio, can tell. For nearly 90 years, Moraine—located in close proximity to Dayton, Ohio—was the location of a single, prominent manufacturing plant whose successive owners read like an honor roll of 20th century American business: Dayton-Wright Airplane (manufacturer of DeHavilland aircraft), Frigidaire (maker of an iconic line of refrigerators), and, since 1981, General Motors (GM).

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EDA: By Attracting Investment in America, We Create New Jobs


Today, Acting Assistant Secretary for Economic Development Matt Erskine joined Illinois Governor Pat Quinn, Rochelle Mayor Chet Olsen, and Members of Congress at a ribbon-cutting ceremony for this new Nippon Sharyo railcar production facility in Rochelle, Illinois Attracting foreign direct investment (FDI) to the United States, and the jobs that come with it, has been a priority of the Obama administration since it came into office. Business programs from every federal agency have been thoroughly ramped up, and a new initiative targeting foreign companies thinking about locating in the United States,SelectUSA, was launched in 2011.

The United States is already the largest recipient of FDI in the world. In 2010, such investment totaled $228 billion, up from $153 billion in 2009, supporting more than five million jobs throughout the country. Those workers made up 4.7 percent of total private-sector employment in the United State, with an annual payroll of $410 billion.

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Innovation in the Marketplace: Dr. Desh Deshpande on Successful Proof of Concept Centers


Portrait of Desh Deshpande The National Advisory Council on Innovation and Entrepreneurship (NACIE) supports President Obama’s innovation strategy by helping to develop policies that foster entrepreneurship and identifying new ways to take great ideas from the lab to the marketplace to drive economic growth and create jobs.

One of the guiding forces of NACIE is its co-chair, Dr. Desh Deshpande, who is also Chairman and President of the Sparta Group and has been involved with many other companies, such as A123 Systems, Sycamore Networks, Tejas Networks, Sandstone Capital, and HiveFire. He is also the founder of the Deshpande Foundation, and creator and supporter of the Deshpande Center for Technological Innovation at the Massachusetts Institute of Technology (MIT), which is a leading proof of concept center.

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As auto communities across the country work to strengthen and redefine their economies, the Obama administration is making good on the President’s commitment to invest in American innovation and advanced manufacturing to spur growth.

In my home state of Indiana, the city of Anderson, located about 25 miles northeast of Indianapolis, was once home to one of the greatest concentrations (after Flint, Michigan) of General Motors facilities in the United States. Today, not a single one of those plants is in operation.

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