PRIORITIZING RESOURCES AND ORGANIZATION FOR INTELLECTUAL PROPERTY ACT OF 2008 -- (Extensions of Remarks - September 28, 2008)
* Mrs. BLACKBURN. Mr. Speaker, I rise today in strong support for S. 3325, the Prioritizing Resources and Organization for Intellectual Property Act of 2008. This critical legislation will not only provide more resources for law enforcement to enforce existing copyright laws, it will also promote better coordination of U.S. intellectual property policy in the executive branch.
* These are two important policy goals for my constituents in Tennessee's 7th District. Tennessee's economic engine is built upon the strength of the creative community's intellectual property, and industries from auto manufacturing, film and entertainment, recording arts, and live performance depend ont he Federal government enforcing their property rights.
* The music industry in Nashville and Memphis alone accounts for nearly $7 billion in economic impact per year, and create than 20,000 jobs. Film, television, and cable broadcasting account for bills more. In 2004, for example, the Oscar-winning film Walk the Line shot for over 45 days in Memphis and Nashville, generating between $18 and $20 million in economic impact for the local economy, and hundreds of high paying jobs. And before Nissan moved its North American headquarters to the Nashville area, Tennessee was already home to nearly 1000 auto-related manufacturers, 159,000 jobs, and a payroll of over $6.6 billion.
* These industries are based on the development, nourishment, and incubation of intellectual ideas before they evolve into marketable products. This process is not free, and instead dependent on an implicit understanding that appropriate compensation will result from investment and hard work.
* Unfortunately, these industries are suffering from rampant theft of their intellectual property online, and in marketplaces around the world to the tune of $58 billion each year. The Institute for Policy Innovation estimates intellectual property theft and copyright infringement costs American workers 373,375 jobs per year, $16.3 billion in earnings, and $2.6 billion in tax revenue for governments at every level.
* These statistics are alarming and unacceptable, but demonstrate the U.S. must continue a vigilant effort to increase enforcement efforts. S. 3325 would provide the Federal government with new tools and information sharing capabilities consistent with this important goal, and I urge all my colleagues to support it.