President-elect Barack Obama appointed New Mexico Governor Bill Richardson last week to head the Department of Commerce. Initial reactions to the appointment were that his selection was that of a “consolation prize.” In fact, at a time when a global recession is getting progressively worse, Richardson may find himself taking one of the most important and challenging jobs in the next US Administration.

The Department of Commerce (DOC) is the place where the domestic meets the international. Mostly known for fostering “foreign trade,” the department has vast responsibilities including maximizing US competitiveness, innovation, economic growth and promotion of environmental accountability.

In this interconnected world where international business is a given, Richardson will be finding ways to make the US more competitive and innovative. All of which, America sorely needs at this moment of continued economic downturn in order to revitalize, restructure and excel.

Richardson, who created over 80,000 jobs in New Mexico during his tenure as Governor, is a seasoned politician who is dedicated and creative. He is not afraid of big ideas and is known for seeing them to come to fruition. With his breath of experience as Congressman, Energy Secretary, United Nations Ambassador and, most recently, Governor of New Mexico, he is well suited to understand the challenges the United States has on both the domestic and international front. He knows what this country needs to get back its ‘eye of the tiger’ and compete.

Craig Barrett, Chairman of Intel, prophetically argued in his article, The Next Economy (Foreign Policy, Sept/Oct 2004), that, “you cannot save your way out of a recession; you can only invest your way to prosperity.” In essence arguing that in order to remain a contender in an increasingly competitive global business world, US companies need to get back to their pioneering instincts. With that in mind, Richardson has an undeniable opportunity to get DOC elevated and focused thereby pointing some of the Obama stimulus package toward US modernization of not just trade, but goods that must be in place for our spirited participation in it.

Looking outside our boarders to a fascinating and changing world is something that Richardson knows well and can lead US companies to while bringing more strength to US economic development at home. It is imperative that we adapt in this changing world and the DOC, with Richardson as Secretary, is now in a place to help lead America there.