$500M National Manufacturing Initiative Announced
WASHINGTON – President Obama today announced a national initiative to invest in emerging technologies to create jobs and increase US global competitiveness.
The Advanced Manufacturing Partnership aims to unite industry, universities and the federal government to concentrate on building manufacturing capabilities in national security industries; diminishing the time required to create advanced materials used in manufacturing products; establishing US robotic leadership; increasing manufacturing process energy efficiency, and developing new technologies that will reduce the time required to design, build and test manufactured goods.
More than $500 million will be allocated to start this effort, including investments on small high-powered batteries, advanced composites, metal fabrication, bio-manufacturing and alternative energy.
This summer, the Departments of Defense, Homeland Security, Energy, Agriculture and Commerce have set a goal of $300 million in funding.
