Obama Administration Launches $26 Million Multi-Agency Competition to Strengthen Advanced Manufacturing
The Obama Administration recently announced a $26 million multi-agency Advanced Manufacturing Jobs and Innovation Accelerator Challenge to foster innovation-fueled job creation through public-private partnerships. These coordinated investments are intended to catalyze and leverage private capital, build an entrepreneurial ecosystem, and promote cluster-based development in regions across the U.S.
“This $26 million Accelerator Challenge is yet another example of the Obama Administration’s commitment to supporting American manufacturers in building things here and selling them everywhere,” said John Bryson, U.S. Commerce secretary. “We are so pleased to join with our federal agency partners to further strengthen the American manufacturing sector, which creates high-quality, good paying jobs. Commerce’s Economic Development Administration has a strong record of investing in regional innovation clusters that foster the job creation and business development crucial to an economy that is built to last. This challenge further bolsters our efforts and builds on the momentum we have seen in the manufacturing sector in recent months, including the 489,000 U.S. manufacturing jobs that have been added since January 2010.”