The Department of Commerce (DOC) is an executive agency of the U.S. government charged with fostering, serving, and promoting economic development and technological advancement in the United States. On February 14, 1903, the U.S. Department of Commerce and Labor was established. On March 4, 1913, it was renamed the Department of Commerce, as the bureaus and offices specialized in labor were moved to the new Department of Labor.
[Last updated in August of 2022 by the Wex Definitions Team]
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