The president will announce a government program today that builds a network of “Institutes for Manufacturing Innovation” to spur sector growth.
The endeavor will cost a cool $1 billion, notched into President Obama’s budget as an “investment.”
“The President will announce a new proposal for a National Network for Manufacturing Innovation, to build a network of up to fifteen Institutes for Manufacturing Innovation around the country, serving as regional hubs of manufacturing excellence that will help to make our manufacturers more competitive and encourage investment in the United States,” the White House said.
“The President will also announce that the Administration will take immediate steps to launch a pilot institute for manufacturing innovation as part of its We Can’t Wait efforts. The pilot institute will be funded from $45 million of existing resources from the Departments of Defense, Energy, and Commerce and the National Science Foundation, and will be selected from a competitive application process.”
That’s from an already sapped Pentagon.
Obama, touring the Rolls-Royce Crosspointe jet engine disc manufacturing facility in Prince George County, Va., today, will tout the new plan as part of his “Blueprint for An Economy Built to Last” plan pitched in the State of the Union address.