President Obama launches new initiative to enhance global competitiveness for U.S. manufacturing
The Obama Administration today announced a $26 million, multi-agency "Advanced Manufacturing Jobs and Innovation Accelerator Challenge" to help boost U.S. manufacturing competitiveness.
The overall initiative aims to support small businesses and local economies by establishing "regional innovation clusters."
Essentially, the linking of various regional groups can help pool talent, expertise, and capital to "give small businesses the tools they need to work together, grow and create jobs in the manufacturing sector.”
Ideally, these coordinated investments will help to leverage private capital, build an entrepreneurial ecosystem, and promote cluster-based development in regions across the United States.
This is the third round of a Jobs Accelerator competition, which is being funded by the U.S. Department of Commerce’s Economic Development Administration (EDA) and National Institute of Standards and Technology (NIST); the U.S. Department of Energy; the U.S. Department of Labor’s Employment and Training Administration; the Small Business Administration; and the National Science Foundation (NSF).
The Alliance for American Manufacturing (AAM) has frequently urged greater investment and incentives for advanced manufacturing, including the high-tech and renewable energy sectors.
Approximately 12 projects are expected to be chosen through a competitive inter-agency grant process. Applicants are encouraged to submit proposals that will help grow a region’s industry clusters by strengthening connections to regional economic development opportunities and advanced manufacturing assets; enhance a region’s capacity to create high-quality sustainable jobs; develop a skilled and diverse advanced manufacturing workforce; increase exports; encourage the development of small businesses; and accelerate technological innovation.
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