REMARKS AS PREPARED FOR DELIVERY SANDY K. BARUAH ASSISTANT SECRETARY OF COMMERCE FOR ECONOMIC DEVELOPMENT - SANDIA SCIENCE & TECHNOLOGY PARK - ALBUQUERQUE, NEW MEXICO

FRIDAY, AUGUST 15, 2008

AS PREPARED FOR DELIVERY

Introduction by: Sherman McCorkle, President & CEO, Technology Ventures Corporation

Thank you…it is pleasure to be back in New Mexico representing President George W. Bush and the Economic Development Administration to celebrate this important milestone for the Sandia Science & Technology Park.

Sherman, thank you for that kind introduction and for your leadership advancing the next generation economy in New Mexico. You are a real leader with a real vision for the future.

We are surrounded by dedicated leaders today – many who have already been identified. Let me, however, take a moment to applaud my friend Jackie Kerby Moore, Executive Director of Sandia Science & Technology Park. Jackie is not only a leader here in New Mexico, but she is a recognized leader in the science park community across the globe. Jackie, thank you for your leadership and your efforts that have made this Park the success it is today.

We are fortunate today to be joined by national leaders of distinction.

Congresswoman Wilson, thank you for your effective efforts on behalf of the people in New Mexico in the U.S. Congress, and for the important role you have played in building New Mexico’s economic future. Your voice and presence have greatly added to important national policy debates and it has been a great pleasure to partner with you to support this science park.

I’m honored to be with U.S. Senator Pete Domenici. As Senator Domenici concludes his 36 years of service in the United States Senate, the people of New Mexico and indeed the nation, owe you a debt of gratitude for your honorable service and strong leadership. Capitol Hill will not be the same without you and I thank you for your service to America.

The U.S. Economic Development Administration is in the “what’s next” business. It is our job to ask: What is the next strategy that will keep our economy growing? What do our economies need to do today in order to take advantage of the next big thing tomorrow?

While the answer to this question differs from region-to-region, the central theme of answering the “what’s next” question is innovation. In our 21st century-Tom Friedman-the world is flat-global economy, the ability to innovate, the ability to answer the “what’s next” question, is the critical and defining skill. For at the end of the day, the ability to innovate is the only possible sustainable competitive advantage in the 21st century. It’s not location. It’s not even the cost of doing business. Factors such as these will continually shift in a dynamic worldwide economy. But if a nation can maintain its edge in innovation, it will grow and prosper.

The Sandia Science and Technology Park is an entire community dedicated to linking public sector research with private sector business opportunities, which is a great way to accelerate innovation. This forward-leaning approach used by Sandia is why EDA awarded the Park with the Excellence in Economic Development Award in 2005, and why we continue to hold out this Park as a best-in-class example of how to do things right.

I am proud that the Economic Development Administration was among the very first investors in the Sandia Science & Technology Park, with almost $3 million in support to make this endeavor a success, including funding for the Park’s fiber optic backbone.

I hope that you are as proud of your accomplishments as we are of our partnership with you. There is nothing more rewarding for me as the head of EDA than seeing an investment truly pay-off, and that is what I see here today.

I see a world-class innovation community with nearly 30 companies employing over 2,000 people in higher-skill, higher-wage jobs. I see a public-private partnership fused with the academic community and true bi-partisan public leadership paving the way for future success. In short, what I see here at Sandia is a true, 21st century economic development success story.

Congratulations, Sandia Science and Technology Park, on your first ten years of success. You are a highlight of the “what’s next” for New Mexico and a best-in-class example for the rest of the nation to follow. It is has been my pleasure to be here today and EDA’s honor to be your partner in the success you celebrate today. Thank you.

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