| REMARKS AS PREPARED FOR DELIVERY - SANDY K. BARUAH, ASSISTANT SECRETARY OF COMMERCE FOR ECONOMIC DEVELOPMENT - EDA INVESTMENT CHECK PRESENTATION TO THE CITY OF COTULLA, TEXAS MONDAY, JANUARY 8, 2007 | AS PREPARED FOR DELIVERY
Introduction by Abel Gonzalez, Mayor, City of CotullaThank you, Mayor Gonzalez, for that kind introduction, and for your kind welcome to the City of Cotulla. And thank you all for being here this afternoon.It is a pleasure to be in the great State of Texas today representing President George W. Bush on this special occasion to celebrate the Cotulla region’s economic future. Before I begin, please allow me to make a few brief introductions. I’m up here today taking the credit for work done by the Commerce EDA team, and I’d like to acknowledge my EDA colleagues who are here with me this morning. Pedro Garza, EDA’s Regional Director for the Austin Region – who is representing the entire professional staff of EDA’s Austin office who were instrumental in bringing this grant together – and Bryan Borlik, EDA’s Acting Director of Public Affairs. Our celebration this afternoon is particularly special because it demonstrates what we can achieve for America’s communities if we work together in a bi-partisan fashion. I am honored to be joined here by Congressman Cuellar, who, while a member of a different political party than President Bush and myself, shares the President’s and my commitment to creating higher-skill, higher-wage jobs for Texans and for all Americans. And, as the Congressman knows, a key to creating such jobs in the 21st Century is the expansion of markets for American goods and services. We are truly living in a Global Economy, or as New York Times columnist Tom Friedman says, the world is…flat. And while competition and the pace of change continue to accelerate in the 21st Century-flat-global economy, so too do the opportunities to build valuable business partnerships to expand our markets and increase our economic competitiveness. Congressman Cuellar understands this, and that’s one of the reasons why he was one of the leading Democrats to support the Central America Free Trade Agreement - the trade agreement that will open new markets and create new jobs in Texas. Congressman, thank you for your leadership. As the Mayor and Congressman know, economic development works best when it is a locally-driven process – local people coming together for the common good to take control of their economic destiny, which is what is happening her in LaSalle County and across South Texas.Of course, it can be helpful to consider the national business environment in which the companies of tomorrow are being formed here in South Texas.In this context, we have good reason to be optimistic. This past Friday, the government released information that shows that our economy continues to be strong, and it is getting stronger. 167,000 jobs were created in December – beating all expectations – and the unemployment level remains at a low 4.5%, which many economists say is essentially full employment, and is lower than where we were at the time of the 2001 terror attacks. The economy has created about 2 million jobs over the past year. For those of you keeping score at home, that’s over 7 million new American jobs since August 2003, more jobs than all the other major industrialized countries combinedWe have now had 20 straight quarters of uninterrupted economic growth, and wages and consumer sentiment are going up. More Americans own their own their own home than ever before – about 70% – which is a key economic driver.And despite returning over $1 trillion to American taxpayers as part of President Bush’s tax cuts, tax revenues were up 12% in 2006, and we have cut the deficit in half 3 years ahead of schedule.It is clear that our economy is resilient and strong.This is good news not just for the nation, but for the South Texas region as well – because a strong, growing national economy allows economic regions – such as South Texas – to tap into this expanding economic pie and share in our national prosperity. It takes both smart national policies and forward-thinking regional action in order for economic growth to occur, and we are celebrating both today. Of course, a little help from the Federal government can’t hurt. And today, I have the distinct pleasure to announce an Economic Development Administration investment of $1.25 million in the City of Cotulla, Texas. The project that we recognize today represents a strong example of how the public and private sector, in partnership, can combine capital resources to achieve critical economic development goals. This is very important, because partnership with the private sector is critical to any successful economic development effort. While governments at all levels can be important players in economic development, let’s not forget that it is the private sector that is the most important element of any successful economic development strategy. Unless the private sector is ready, willing and able to invest in a community – economic growth simply will not occur regardless how much government spends.The City of Cotulla will use this EDA investment to construct road, water and wastewater infrastructure at the Las Palmas development. This development will be a new home for commercial activity in Cotulla, building on the area’s advantageous location along the I-35 corridor between Laredo and San Antonio. Secretary Gutierrez and I share high hopes for this project, and its anticipated creation of 150 jobs and attraction of $8.6 million in private capital. EDA is proud to be a partner in this important project, and I would like to thank everyone involved in making this investment possible, especially Congressman Cuellar and, Mayor Gonzalez, and the Middle Rio Grande Council of Governments. So now, if I could please have Congressman Cuellar join me for the formal presentation of the check to Mayor Gonzalez…On behalf of President George Bush, it is my pleasure to present you with this check for $1.25 to the City of Cotulla, Texas. Congratulations. Accepting the check is Mayor Abel Gonzalez# # #
|
|   |
