Today, President Obama announced the "Made in Rural America" export and investment initiative, aimed at bringing together federal resources to help rural businesses and leaders take advantage of new investment opportunities and access new customers and markets abroad. U.S. Commerce Secretary Penny Pritzker issued the following statement today in response to the President's announcement:
"The Commerce Department is proud to be a partner in the "Made in Rural America" export and investment initiative announced by President Obama today. Making sure our rural businesses -- from light manufacturers to service providers -- benefit from the higher growth, employment, and wages of exporting companies is key to integrating trade into the DNA of our economy and creating opportunity for all Americans.
The "Made in Rural America" partnership advances the National Export Initiative and is in clear alignment with Commerce's "Open for Business Agenda" by helping more companies export to more markets. We know that every $1 billion in exports of American goods and services supports approximately 5,000 U.S. jobs. The fact is that trade and investment are critical to our growth. We live in a globally connected world and 95% of America's consumers are overseas. That's why we are laser-focused on creating jobs and more opportunity for all Americans and expanding this recovery.
Since President Obama launched the National Export Initiative in 2010, an ambitious plan to sell more American goods and services into foreign markets, the United States has not only seen record exports but has seen an increase of 1.3 million export-related jobs. We look forward to advancing "Made in Rural America" and helping more rural businesses across the country gain the know-how and access to federal resources they need to thrive in the global marketplace."