Obama Touts $1B in Grants to Boost Manufacturing

Friday, 09 Mar 2012 07:13 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

President Barack Obama today will highlight a $1 billion federal grant proposal designed to boost manufacturing innovation, the White House said in a statement.

Obama plans to make the announcement during an appearance at the Rolls-Royce Holdings Plc Crosspointe jet engine disc manufacturing facility in Prince George County, Virginia.

The fiscal 2013 budget proposes a national network of institutes for manufacturing innovation with as many as 15 regional hubs, according to a White House fact sheet.

The institutes would bring industry, universities, community colleges, federal agencies, states and manufacturers under one roof to help close the gap between basic research and product development.

Each of the technology hubs would focus on a specific manufacturing technology geared to the region, such as developing lightweight materials for use in next-generation automobiles, aircraft, ships and trains.

The $1 billion plan requires congressional approval.

Separately, Obama will use $45 million in existing funds to begin a pilot institute, according to the fact sheet. That seed money will come from the departments of Defense, Energy and Commerce and the National Science Foundation and would be used to show how the program would work.


© Copyright 2014 Bloomberg News. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Project Hopes To Connect Korean War Veterans With Photos

Thursday, 21 Aug 2014 14:04 PM

For years, Korean War veteran Betty Perkins-Carpenter kept old wartime photos in envelopes in a file cabinet, but now th . . .

Willie Nelson's Braids to Hit the Auction Block

Thursday, 21 Aug 2014 13:02 PM

Some of the most distinctive hair in American music is up for sale with Willie Nelson's trademark braids heading to the  . . .

Lawsuit Aims to Force California Cities to Share in Water Cutbacks

Thursday, 21 Aug 2014 12:21 PM

A California law "selectively" imposes watering restrictions on farming areas to save fish species under the Endangered  . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved