DETROIT, February 7, 2007 - The Detroit Economic Club (DEC) hosted the Honorable Mitt Romney, former Governor of Massachusetts and potential 2008 Presidential Candidate. Governor Romney’s speech was titled, "A New Vision for America: Winning the Global Economic Challenge." He explained his vision to win the global economic challenge facing the United States. He says that America is without question the innovation capital of the world.

“We lead the world. One country leads the entire world in patent applications. The Internet started here. Biotech is headquartered here. Microsoft is here. But China and other nations aren’t going to discede permanently our leadership in innovation and technology. Now and then I hear people say that it’s probably good economics for manufacturing to go from here to go to Asia, because they can do it there cheaper. Then they go on to say, 'but we’ll continue to keep the design and engineering right here, they’ll just do the manufacturing.' But that belies very little experience in the real world. My experience is that design and innovation ultimately are done best next to manufacturing. Those that are proximate tend to get the best designs and the most innovative ideas. If the Chinese are making a product, you’d better expect them someday to be engineering it and designing it as well. It’s critical therefore that America maintain our lead in manufacturing if we also want to maintain our lead in innovation.”

Download a broadcast-quality audio file of the above selection from Romney's remarks. Size: 1.6 Mb. Duration: 1 minute.

Romney also spoke about the need for America to become more energy efficient and addressed the state of the automotive industry.

“I get a little tired of listening to supposed experts coming on TV and saying that ‘Detroit just can’t make cars that Americans want.’ Domestic cars, as you know, are burdened with over $2,000 more health care and pension costs than a car that comes from Toyota for instance. To be competitive, American innovators right here in Michigan have come up with what I’ll call ‘wow” styling. Look at the Dodge for instance: super quality. Look at the Ford Fusion, and extraordinary power plant fuel economies. Look at the Chevy Silverado. As the son of an old auto guy, I got to say, I think Detroit deserves to be proud.”

Download a broadcast-quality audio file of the above selection from Romney's remarks. Size: 1.14 Mb. Duration: 43 seconds.

This is the first major economic speech delivered by Governor Romney since forming a Presidential Exploratory Committee.

Click here to download a print-quality photograph of Mitt Romney at the Detroit Economic Club on February 7, 2007. Photo credit: Jeff Kowalsky.

The Detroit Economic Club was formed in 1934 as a platform for the discussion and debate of important business, government and social issues. It is known internationally as a top speaking forum for prominent business and government leaders, who address members and their guests at the Club's 35 meetings a season. With more than 3,000 members, the DEC is about vital issues, prominent voices, a commitment to education and inspiring leadership. The Club is proud to have hosted every sitting U.S. President since Richard Nixon and proud to have been ranked among the top speaking platforms for CEOs.