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Treasury Notes

 Year In Review: Investing in Innovation and Manufacturing in the United States

By: Lance Williams
12/31/2013

During his first year at the Treasury Department, Secretary Lew traveled across the country visiting companies that are investing in the United States. From Alpharetta, Georgia, to San Francisco, California, Secretary Lew met with local and national business leaders, visited leading research and development parks, and toured manufacturing facilities throughout the U.S., getting a first-hand look at the contributions many companies are making by investing in the American economy, and experiencing first-hand the benefits of American innovation.siemens.pngIn March, Secretary Lew traveled to Alpharetta, Georgia to tour the Siemens’ GA 400 manufacturing facility.  The facility employs more than 700 people who manufacture traction drives for the rail and mining industries, low voltage drives for the water, wastewater, paper and metals industries, and more than 100 different types of control panels.  Siemens employs nearly 60,000 people across the U.S. and has invested $25 billion here over the past 10 years, including nearly $1 billion annually in research and development.

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Secretary Lew visited a Vitamix production facility outside Cleveland, Ohio in May to highlight the importance of growing the economy and creating jobs in the United States.  Vitamix designs and manufactures blending equipment for the food service industry and home kitchens, and has experienced significant growth in the U.S. and abroad.  Company exports doubled in the last two years, making Vitamix products available in more than 100 countries.  The company’s expansion is projected to employ hundreds more workers in the region. 

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Secretary Lew toured the National Renewable Energy Laboratory (NREL) outside of Denver, Colorado this July. NREL is the U.S. Department of Energy's primary national laboratory for research and development for renewable energy and energy efficiency. The laboratory employs 1,670 full-time employees and 740 visiting researchers, interns and contractors.  NREL’s work has contributed significantly to our ability to double U.S. generation of renewable energy over the past four years and will help accomplish President Obama’s goals of doubling energy productivity by 2030 and re-doubling renewable energy generation by 2020.

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In the San Francisco Bay Area Secretary Lew highlighted the President’s plan to strengthen the middle class and create jobs by improving the nation’s infrastructure, enlarging our manufacturing base and developing innovative technologies right here in the United States.  As part of his trip, he toured the AT&T Foundry innovation center in Palo Alto, California.  The Foundry connects technical experts from diverse fields including: engineers, developers, and designers to AT&T’s business experts to develop new technology products and services. In the San Francisco Bay Area Secretary Lew highlighted the President’s plan to strengthen the middle class and create jobs by improving the nation’s infrastructure, enlarging our manufacturing base and developing innovative technologies right here in the United States.  As part of his trip, he toured the AT&T Foundry innovation center in Palo Alto, California.  The Foundry connects technical experts from diverse fields including: engineers, developers, and designers to AT&T’s business experts to develop new technology products and services. 

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Last month, Secretary Lew toured the production floor of Patton Electronics Company, a family-owned business and exporter of telecommunications equipment in Gaithersburg, Maryland. The Secretary heard from owners Bobby and Burt Patton on the importance of the Administration’s continued efforts to promote American exports and increase opportunities for U.S. workers and businesses.  The company exports its network access and connectivity products to more than 120 countries around the world and employs nearly 100 workers in the Gaithersburg community in manufacturing, engineering, and marketing.  
 
During each stop, Secretary Lew also met with local business and thought leaders to discuss key issues in local and U.S. economies. Companies like Siemens, Vitamix, and Patton Electronics and centers like the AT&T Foundry and NREL continue to expand manufacturing, create new technologies and invest in local communities.  These commitments, advancements, and innovative businesses drive growth, grow the middle-class, and strengthen the American economy.

E. Lance Williams is the Special Assistant at the Office of Business and Public Liaison at the U.S. Department of the Treasury.

Posted in:  Secretary Lew
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