On the recordJune 8, 2011
I want to take a few minutes to discuss the underlying legislation, the Economic Development Administration bill, because I think, with the new numbers about the American economy--the joblessness and the trends--we are all looking for ways to encourage investment in the United States, and we are looking for ways to promote new industries that will create family wage jobs. The Economic Development Administration has helped to do that in my home State and in other parts of the country. I want to take a few minutes and discuss that. I see the chairman of the Finance Committee. We may have gotten a little backed up, and I am anxious to hear from the chairman of the Finance Committee. The area I want to talk about with respect to the Economic Development Administration involves nanotechnology. This is, in effect, the science of small stuff. We are seeing it pay off big in a whole host of energy-related applications, and in health care particularly, in terms of drugs and new medical devices. It has made a big difference at the Pentagon in terms of their looking at and adding carbon nanotubes to a number of the products we need to protect our warfighters. The fact is, when we talk about this agency, we are seeing that a small public investment can leverage very substantial private sector investment in a way that is going to encourage jobs in the United States, and particularly in what I call the sunrise industries. It is sure making a difference.…





