Commerce Secretary Ross encourages Roanoke-area business leaders to spur investment in low-income areas
U.S. Commerce Secretary Wilbur Ross credited the Trump administration’s “America-first economic policies” for new jobs and low unemployment rates across the country, including Virginia.
While visiting the Roanoke Valley on Friday, he did acknowledge that the benefits have not been “evenly distributed in some parts of this region.”
The national unemployment rate is 3.6% — the lowest in nearly 50 years. Virginia’s stands at 2.9%. In some parts of the economically struggling areas of Southwest and Southside, the unemployment rates are 4% to 5%. The Roanoke region’s unemployment rate is 2.5%.
Ross spoke to about 20 business leaders — in sectors including banking, manufacturing and construction — about the new trade agreement with Mexico and Canada, which is still awaiting approval from Congress. The discussion portion of the meeting was closed to the media.
He said Canada and Mexico are Virginia’s first- and third-largest trading partners. Last year, exports to those countries totaled $4.3 billion, with most of the exporters being small and medium-sized companies.
He said the trade agreement with Canada and Mexico would further benefit those Virginia businesses.
To learn more about what he said, check out the whole article below.