Remarks by Under Secretary Lago - September 23, 2022
September 23, 2022
As Prepared for Delivery
Good morning. I am so glad to join you today at the Global Clean Energy Action Forum.
I am privileged to lead the U.S. Department of Commerce’s International Trade Administration, or ITA, where our team is committed to building a more prosperous and inclusive economy through strengthening the competitiveness of U.S. industry and workers, promoting trade and investment, and ensuring fair trade practices.
ITA is doing its part to advance President Biden’s ambitious commitment to tackle the climate crisis at home and abroad. This includes supporting progress in one of the most promising clean tech segments—offshore wind. We are helping to drive deployment in the United States by facilitating foreign investment. And we are aiding deployment around the world by supporting U.S. exporters of offshore wind technologies, products and services.
We are so pleased to see that interest in the offshore wind sector is exploding, and I am pleased to have been able to participate in an offshore wind meeting during each domestic trip that I have taken while in this role.
The Department of Commerce’s team’s belief in the potential of this transformative technology starts at the very top. While Governor of Rhode Island, Commerce Secretary Gina Raimondo emerged as a national leader on wind, including overseeing completion of the first U.S. offshore wind farm near Block Island.
So, from the Secretary on down, the Department of Commerce team is all-in on advancing offshore wind—yes, to accelerate the clean energy transition, but also to create high-quality jobs and bolster economic prosperity.
And it is not just the Department of Commerce. The Biden-Harris Administration has made offshore wind a priority sector at the center of its climate and economic policy agendas, announcing a shared goal of deploying 30 gigawatts of offshore wind energy by 2030. This ambitious target will require $12 billion per year in capital investment along our nation’s coasts and create 77,000 U.S. jobs – that’s a lot of paychecks, helping families and communities to thrive.
Manufacturing over 2,100 wind turbines and foundations and almost 7,000 miles of cable to be installed from 20 specialized vessels is a tall order. But it is also an unprecedented opportunity to accelerate development and ensure U.S. leadership in an industry that will create tens of thousands of well-paying jobs in innovative manufacturing, services, and R&D.
Our ITA team is all hands on deck to ensure a robust domestic supply chain. Our SelectUSA program is attracting foreign direct investment by foreign companies with longstanding expertise in deploying offshore wind in Europe and other markets. And the Department of Commerce’s International Trade Administration is working to connect U.S. companies with export opportunities, supporting their competitiveness and export-led growth in over 70 markets around the globe.
To turbo-charge these efforts, ITA has partnered with the Business Network for Offshore Wind (BNOW) on a program called Global Gateway. This collaboration connects U.S. companies to export opportunities in global markets throughout the offshore wind value chain by arranging delegations of U.S. exporters to visit potential partners in Europe, Asia and South America.
So far this year, the Global Gateway program has organized USA Pavilions and delegations of U.S. companies to leading offshore wind industry conferences in Spain, the UK and—next week—Germany. And this is just the beginning of our collaborative efforts with BNOW to showcase innovative U.S. businesses in the global offshore wind marketplace over the next three years.
Thank you all for your interest, expertise and passion for this exciting industry. I look forward to continuing to collaborate with you. Thank you.