Administration of General Economic Programs

SIC 9611

Companies in this industry

Industry report:

This group covers government establishments primarily engaged in promoting and developing economic resources of all kinds, including tourism, business, and industry. Included are establishments responsible for the development of general statistical data and analyses and promotion of general economic well-being.

U.S. Department of Commerce.
At the beginning of the second decade of the twenty-first century, the five largest economies in the world were the United States, China, Japan, Germany, and France. The United Kingdom, Italy, Brazil, Canada, and Russia rounded out the top 10, according to the International Monetary Fund. The primary U.S. federal agency supporting general economic programs is the Department of Commerce (DOC). Established in 1931, the DOC encourages and serves the nation's international trade, economic growth, and technological advancement. In 2011, the DOC had a budget of $6.5 billion dollars and 38,000 employees.

Within the context of fostering competitive free enterprise, the DOC administers a wide variety of social and economic programs. For instance, it conducts research for technological advancements, grants patents, encourages growth of minority-owned businesses, works to improve the utilization of natural resources, and promotes travel to the United States by foreigners. The Secretary of Commerce oversees 12 different DOC agencies, including the U.S. Census Bureau, the Economic Development Administration, the International Trade Administration, and nine others.

To better manage these objectives and responsibilities, the Department of Commerce is charged with the periodic conducting of the national census. In preparation for the 2010 Census, 565,000 (mostly temporary) census takers were hired. The U.S. Census Bureau's budget for 2009 was around $4.4 billion, up from $1.3 million a decade earlier. The Census Bureau's mission was to fulfill a goal set by the DOC to "advance key economic and demographic data that support effective decision-making by policymakers, businesses, and the American public," according to the organization's 2010 "Budget Estimates."

The mission of the DOC's Economic Development Administration (EDA) was to "lead the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy." Priorities for the agency in 2010 focused on public/private partnerships, global competitiveness, regional innovation, national strategic priorities, environmentally sustainable development, and serving economically distressed urban and rural areas of the United States. It provides loan guarantees, public works grants, land and resource planning grants, and specialized technical assistance and consultation programs. In 2009, the EDA awarded approximately $579 million in federal funds, including monies made available by the American Recovery and Reinvestment Act. About 80 percent of the allotments were to construction projects that were expected to create 87,000 jobs.

Conversely, the DOC's International Trade Administration (ITA) "strengthens the competitiveness of U.S. industry, promotes trade and investment, and ensures fair trade through the rigorous enforcement of our trade laws and agreements." It advises the president on international economic policy, enforces fair import trade practices, works to foster U.S. export competitiveness, and gathers data and conducts research, in addition to carrying out provisions stated in President Obama's National Export Initiative, created in 2010. The ITA has four divisions: U.S. and Foreign Commercial Service, Manufacturing and Services, Market Access and Compliance, and Import Administration. The budget request for 2011 totaled $534.3 billion, the highest amount ever requested to date.

The U.S. Patent and Trademark Office (USPTO), also a responsibility of the Commerce Department, was created by the U.S. Constitution. It protects inventors' rights to the results of their creative efforts. In 2009, the USPTO granted 191,927 patents, including 23,116 for design. With about 9,500 employees, the USPTO managed a budget of $1.8 billion in 2010; $2.3 billion was requested for 2011.

The National Institute of Standards and Technology (NIST) assists industry in developing technology to improve products and manufacturing processes. With two locations--one in Gaithersburg, Maryland, and the other in Boulder, Colorado--the agency employed 2,900 people in 2010. That year, it began a reorganization process meant to increase accountability and make collaboration research more accessible.

Other commerce responsibilities are administered under numerous offices, including the National Oceanic & Atmospheric Administration, the Minority Business Development Agency, the Bureau of Economic Analysis, and the National Telecommunications and Information Administration, which advises the president on telecommunications policy and promotes U.S. communications interests globally, among other activities.

Federal Trade Commission.
Like the DOC, the Federal Trade Commission (FTC) strives to sustain the economic health of the nation; however, its duties center around protecting the free enterprise system from monopolies, unnecessary trade restraints, and unfair or deceptive trade practices. Specifically, it regulates price-fixing, boycotting, and other competitive market influences; pricing discrimination; truth in advertising and labeling; and consumer credit policies. It also conducts research, enforces laws, and issues various trade regulations through about 1,100 full-time equivalent employees and the Bureaus of Consumer Protection, Competition, and Economics.

Other Agencies.
Besides the DOC and FTC, several smaller federal and state offices work to promote economic activity, protect consumers and businesses from fraud and negligence, and promote fair world trade. Within the Department of Energy, for instance, there are several offices that work to develop energy programs and to conserve resources for future economic goals.

Likewise, the U.S. International Development Cooperation Agency devises and coordinates international economic policy to ensure that development goals are considered in executive branch trade policies affecting less-developed nations, and provides strong direction for U.S. economic policies toward the developing world. Similarly, the U.S. International Trade Commission furnishes studies, reports, and recommendations to the president, Congress, and other government entities regarding international trade and tariffs. It also conducts related investigations and public hearings.

© COPYRIGHT 2018 The Gale Group, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. For permission to reuse this article, contact the Copyright Clearance Center.

News and information about Administration of General Economic Programs

Spotlight on Commerce: Darmika Stanfield, U.S. Economic Development Administration
States News Service; February 8, 2018; 700+ words
...Economic Development Administration As a Congressional...at the U.S. Economic Development Administration...for sustainable economic growth throughout...improve social and economic conditions through community service programs, further contributed...s Office of the ...
Baker-Polito Administration Announces Delegation for Israeli Economic Development Mission
States News Service; December 7, 2016; 700+ words
...Baker-Polito Administration and the New England...administration's upcoming Economic Development Mission...and innovative economic climate to welcome...health innovation programs and accelerators...one of the major economic growth drivers...Vice President and General Manager ...
Corbett Administration Announces Economic Growth Initiative Grant to Help Refurbish Eastern State Penitentiary
US Fed News Service, Including US State News; October 13, 2014; 676 words
...that the Corbett Administration understands the economic impact that this...said that the program had strayed considerably...through regional economic development projects...announced 58 new Economic Growth Initiative...new dollar of general fund revenues...
Corbett Administration Announces Economic Growth Initiative Grant to Develop Weavertown Industrial Park; Create and Retain More Than 350 Jobs
States News Service; October 7, 2014; 633 words
...Assistance Capital Program with a significant...potential, their economic impact, as well...through regional economic development projects...the Corbett administration announced 58 new Economic Growth Initiative...new dollar of general fund revenues...
Corbett Administration Announces Economic Growth Initiative Grant to Johnstown Greater Community YMCA
US Fed News Service, Including US State News; October 2, 2014; 700+ words
...Assistance Capital Program with a significant...potential, their economic impact, as well...through regional economic development projects...the Corbett administration announced 58 new Economic Growth Initiative...new dollar of general fund revenues...
Corbett Administration Announces Economic Growth Initiative Grant for Mt. Aloysius College Expansion
US Fed News Service, Including US State News; October 13, 2014; 596 words
...Assistance Capital Program with a significant...potential, their economic impact, as well...through regional economic development projects...the Corbett administration announced 58 new Economic Growth Initiative...new dollar of general fund revenues...
Patrick-Murray Administration Approves Economic Development Projects That Will Create and Retain 6,915 Jobs in Communities across the Commonwealth
States News Service; June 26, 2012; 700+ words
...Patrick-Murray Administration remains committed...Housing and Economic Development...of an overall economic development...reformed the program and as a result...most effective programs helping businesses...through the EDIP program and supported...million. The Economic ...
National Conference on Administration and Economic Reform resumes deliberations.(Conference news)
Syrian Arab News Agency (SANA); July 19, 2011; 447 words
...the Social, Economic and Administrative...values in the administration reform. "Reforming...governmental administration can be done through...restructuring administrations and setting up...Institute for General Administration said. He went...face any reform program is ...

Search all articles about Administration of General Economic Programs