That is why private investment and competition is such a fundamental part of our NII agenda. Second, a skilled workforce. For businesses to succeed, it also is necessary that we have an educated, well-trained workers. To be the most competitive nation in the world, we need the best workforce in the world. That is why the President's middle class tax cut is focused on education and training.
Technological innovation is vital in the new knowledge-based global economy.
Recently, the close connection between innovation and economic performance has been confirmed by new research from my own Department. We found that firms that use advanced technologies are more productive, pay higher wages, offer more secure jobs and increase employment more rapidly than firms that do not. The importance of this conclusion cannot be overstated. It is central to our economic future. Part of the answer comes from the two previous ingredients of growth that I have mentioned.