Secretary Penny Pritzker Discusses Trade, Exports, and Minority-Owned Businesses in Columbia, SC

Last week, Secretary Penny Pritzker joined Congressman Jim Clyburn in Columbia, South Carolina to discuss how trade and exports are contributing to economic growth and job creation throughout the state.

To kick-off her day, Secretary Pritzker delivered the keynote speech at IT-oLogy, a nonprofit collaboration of businesses, academic institutions, and organizations dedicated to growing the IT talent pipeline, fostering economic development, and advancing the IT profession. During her remarks, Secretary Pritzker highlighted the importance of trade and exports in South Carolina.

Exports are essential to the bottom line of U.S. businesses, creating more American jobs, and growing the U.S. economy. In order to remain competitive at a global level, the U.S. must lead in setting standards for trade in the 21^st century. The Obama Administration has put forward an aggressive free trade agenda that will secure access to fast-growing markets while raising standards on labor, the environment, intellectual property rights, and more.

Many of South Carolina’s businesses have begun tapping into the 96 percent of global consumers living outside U.S. borders through greater international trade efforts. In 2014, total goods exports from South Carolina reached $29.7 billion – up 38 percent since 2009. Goods exports from South Carolina supported 153,816 U.S. jobs in 2014. One great example is local Columbia business Transfer Point, a manufacturer of dietary supplements, who saw one third of the company’s total sales last year to international customers.

Following Secretary Pritzker’s keynote speech, a panel was held to discuss exporting assistance specifically for small and minority-owned companies. Participants included Alejandra Castillo, National Director of the Minority Business Development Agency (MBDA), Jay Williams, Assistant Secretary for the Economic Development Administration, and representatives from the South Carolina US Export Assistance Center, the Manufacturing extension program and the South Carolina Department of Commerce. National Director Castillo and Assistant Secretary Williams shared various assets and services the Commerce Department offers to best support businesses as they build capacity, understand global markets and place goods and services into the global market place.