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When global firms were asked a few years back where they planned on building new research and development facilities, nearly 80 percent said either China or India -- because those countries are focused on math and science, and they’re focused on training and educating their workforce. 

I sat down with President Lee of South Korea, and I asked him, what’s the biggest problem you have in education?  He said, you know, these parents, they come to me and they are constantly pressuring me; they want their kids to learn so fast, so much -- they’re even making me import English-speaking teachers in, because they want first-graders to know English.  I asked him about investment in research and development.  He says, we're putting aside 5 percent of our gross domestic product in research and development -- 3 percent of it in clean energy.

You go to Shanghai, China, and they’ve built more high-speed rail in the last year than we've built in the last 30 years.  The largest private solar research and development facility in the world was recently opened in China -– by an American company.  Today China also has the fastest trains and the fastest supercomputer in the world.

In 1957, just before this college opened, the Soviet Union beat us into space by launching a satellite known as Sputnik.  And that was a wake-up call that caused the United States to boost our investment in innovation and education -– particularly in math and science.  And as a result, once we put our minds to it, once we got focused, once we got unified, not only did we surpass the Soviets, we developed new American technologies, industries, and jobs. 

So 50 years later, our generation’s Sputnik moment is back. This is our moment.  If the recession has taught us anything, it’s that we cannot go back to an economy that's driven by too much spending, too much borrowing, running up credit cards, taking out a lot of home equity loans, paper profits that are built on financial speculation.  We’ve got to rebuild on a new and stronger foundation for economic growth. 

We need to do what America has always been known for:  building, innovating, educating, making things.  We don’t want to be a nation that simply buys and consumes products from other countries.  We want to create and sell products all over the world that are stamped with three simple words:  “Made In America.”  That's our goal.  (Applause.)   

So I came to Forsyth today because you’ve shown what this future can look like.  Half a century later, you’re still giving students the skills and training they need to get good jobs, but of course -- but courses in machine shop and car mechanics have now broadened to degrees in mechanical engineering technology and nanotechnology and biotechnology.  And meanwhile, your unique partnerships that you’re building with advanced manufacturing and biotechnology firms will ensure that the businesses of the future locate here, they come here, they stay here, they hire right here in Winston-Salem.  (Applause.)   

As a national leader in bioscience and innovation, North Carolina is now the country’s third largest employer in biotechnology.  (Applause.)  And when Caterpillar recently decided to build a plant in this community, they told President Green one of the main reasons was “…they were convinced that Forsyth Tech had the capability of providing them with the technical workforce that they need.”  (Applause.) 

That’s something everybody in this room should be very proud of.  And I know that business leaders from throughout the community have worked intensively with President Green and others to help make this happen.  And I know that your congressional delegation, as well as your governor, have worked hard to make this happen.     

Now, none of this progress happened by itself.  It happened thanks to the hard work of students here at Forsyth, the commitment of local leaders, foresight of local business leaders -- most importantly, it happened because there was a decision made to invest in the collective future of this community.  It happened because there was a decision to invest in this college, and there were loans and scholarships that made it affordable to go here. 

To invest in the basic research and development that helped jumpstart North Carolina’s biotech industry; to invest in new buildings and laboratories and research facilities that make your work possible -- these are the kinds of investments we need to keep making in communities across America -– investments that will grow our economy and help us to stay competitive in the 21st century.

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