Remarks Prepared for Delivery by the Secretary of Labor at the Northern Kentucky Chamber of Commerce

Statement

Remarks Prepared for Delivery by the Secretary of Labor at the Northern Kentucky Chamber of Commerce

Thank you. This afternoon I'd like to share with you some of initiatives that this Administration has taken to help our country remain strong and competitive. I met with the President and the rest of his economic team just this morning. They are carefully watching the economy and are fully engaged in finding solutions to the short term challenges we face.

Let me share some of the details of the stimulus package, which President Bush signed into law earlier this month. Then, let me discuss some of the initiatives that the Department of Labor has undertaken to strengthen the skills of our nation's workforce and to ensure that employers have access to the talent they need.

While the fundamentals of our nation's economy are still strong, the President believes that we should not take economic growth for granted. He called upon the Congress to join him in creating a stimulus package that will inoculate the larger economy from the instability in the housing market.

The President is pleased that the package meets the criteria he set forth. It will provide an effective, robust, and temporary set of incentives that will boost our economy without raising taxes. It rewards work and allows people and businesses to decide how to spend their own money. And it's expected to create more than half a million jobs by the end of the year.

The plan allows Americans to keep about $100 billion of their own money to spend as they wish. All eligible taxpayers will receive $300 per person up to $600 for individuals and $1,200 for couples, plus an additional refundable tax credit of $300 per child for eligible parents.

The plan offers businesses about $50 billion to expand and hire workers. It allows businesses to deduct an additional 50 percent of the cost of equipment and software purchased in 2008. It also doubles the expensing limit for small businesses to $250 thousand.

The President understands why Americans are anxious about the slowdown when they see turmoil in the financial markets, and they wonder what's ahead. But American workers and employers should be confident about the long-term outlook for our economy. Working together in a bipartisan way, we have taken the swift, decisive action the President called for and our economy needs.

The President understands that it is the private sector that creates jobs, not the government. And that the role of the government is to create the climate for growth. That's why assisting job-creating employers like you is a key part of the President's plan. You are part of our country's tremendous job creating machine, which is the envy of the world.

Over the past six years, the Department has sought to strengthen the competitiveness of America's workforce by ensuring that the private sector is a true partner in our workforce development education and training programs.

First, the Department focused on the need to prepare workers for careers in the fastest-growing occupations. To date, an additional 156 grants totaling over $288 million have been awarded nationwide to expand training for careers in high growth sectors of the economy.

Building on that effort, we learned that one of the best ways to access the skills needed for these careers is through the community college system. In Fort Mitchell there is the Gateway Community and Technical College, which is very highly regarded. Community and technical colleges are accessible, affordable, and offer flexible schedules to accommodate people who need to continue working while they go to school. They are the gateways to a bright future.

That's why the President launched the Community-Based Job Training Grants, which the Department of Labor administers. This initiative expands the capacity of community and technical colleges to prepare workers for careers in growth sectors of the economy.

So far, the Department has awarded $250 million in grants throughout the nation to fund 142 education and trainingpartnerships with community colleges. These are very competitive grants, and next month, the Department will announce the results of a third grant competition to further expand the capacity of community colleges nationwide to train workers. One of the key features of these grants is to connect education providers with leaders like you, to ensure that the curricula they offer provide skills you need in today's workplace.

Building on these two efforts is an initiative that is especially important for regional economies. Over the last several years, it has become clear that for economic development to be successful, it must be centered at the regional level. To address this challenge, the Department launched Workforce Innovation in Regional Economic Development, or WIRED. The WIRED initiative provides the seed capital to bring together all the key players at the local and regional level to develop an economic development strategy centered around talent and skills development. That's key because employers are telling us that the availability of a skilled workforce is a critical factor in the decision to locate in a community.

In February 2006, the Department of Labor announced the first WIRED investment of $195 in 13 regional economies. In January 2007, the Department added another 13 regions and an additional $65 million in WIRED investments. And recently, I announced the Third Generation of WIRED investments totaling another $65 million for 13 regions. So the total investment to date is $326.3 million in 39 regions.

In late June, I was pleased to announce that the 15-county Central Kentucky I-65 Corridor — which includes Louisville — was selected as a Third Generation WIRED Region. Regions have to compete for these grants, so let me congratulate Central Kentucky for its winning proposal. The Central Kentucky I-65 Corridor will receive a $5 million investment over a period of three years. This seed money will help fill workforce gaps by supporting worker education and entrepreneurship.

At the same time the Department is strengthening education and training, it is investing in another group of workers who enter the job market quite differently. These are our returning servicemen and women, whose leadership and professionalism make them superb candidates for jobs in the civilian workforce. In Kentucky, we have so many brave men and women who have answered the call to serve. Many are based in Fort Campbell and Fort Knox in the Commonwealth, and at the Naval Surface Warfare Center in Indiana.

At the Department, we are committed to promoting and protecting the employment rights of our service members and veterans. In December 2005, the Department announced the first-ever regulations implementing the Uniformed Services Employment and Reemployment Rights Act of 1994 — known as USERRA. These regulations have helped clarify the law and improve enforcement.

Each year, over 318,000 military members return to civilian status — either through retirement, voluntary separation, or as a result of a discharge due to disability. And, the Department of Labor helps these individuals transition into the civilian sector by providing a variety of job placement and employment assistance services.

The Department's HireVetsFirst campaign has helped employers appreciate the value of hiring veterans. Last November, Northern Kentucky held a veterans' only job fair, as part of the Department of Labor's HireVetsFirst nationwide Veterans Day job fair blitz in all 50 states. Ninety-four employers showed up to greet over 400 veterans seeking better career opportunities at the Receptions Conference in Erlanger. Some of you may even have participated!

Our men and women in uniform are known for their intelligence, strong work ethic, discipline, and leadership. They have the highly marketable professional qualities that employers are looking for. And I encourage you to consider hiring veterans when you see an opportunity.

We're also helping veterans through our REALifelines initiative. This program is making a tremendous difference in the lives of our wounded and injured service members. REALifelines provides one-on-one job training, counseling, and re-employment services to seriously wounded and injured service members who cannot return to active duty. REALifelines has helped numerous men and women build new and rewarding careers in the private sector.

America's veterans were there for all of us. Now it's our turn to be there for them by providing the training, education, and services that can help them find new careers.

The ability of the U.S. economy to produce new jobs, for all sectors of society and at all levels, is remarkable. And, wherever I travel, our country's economy is the envy of the world.

We have so many blessings in this country — freedom, a dynamic and resilient economy and most of all, the energy, compassion and generosity of the American people. So thank you for everything you are doing to create jobs and opportunity for others. Working together, we can continue to ensure that America remains a bright and shining beacon of hope.

Source