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Obama Launches $500 Million Manufacturing Partnership

JIM WATSON/AFP/Getty Images(WASHINGTON) -- President Obama will announce in Pittsburgh Friday that the federal government is investing more than $500 million to create the “Advanced Manufacturing Partnership,” an effort to bring together industry, universities and the government to invest in technologies that will boost America’s manufacturing and create jobs.

“Today, I’m calling for all of us to come together… to spark a renaissance in American manufacturing and help our manufacturers develop the cutting-edge tools they need to compete with anyone in the world,” Obama said.  “With these key investments, we can ensure that the United States remains a nation that ‘invents it here and manufactures it here’ and creates high-quality, good paying jobs for American workers.”

In a speech at Carnegie Mellon University, the president will highlight several specific initiatives, including a $70 million project to award grants to companies that are making major advances in robotics and a plan to invest $100 million in “material genomes.”

“Investing in manufacturing technologies like nanotechnology, biotechnology, information technology are critical enablers, critical tools that manufacturers, in a wide variety of applications, can use to become more cost-competitive, to improve quality, and to accelerate product development,” Assistant to the President for Manufacturing Policy Ron Bloom told reporters Thursday.

Bloom did not offer an exact breakdown of the $500 million, but said some of it is funded in the president’s budget while other portions are taken from existing resources.

The AMP, which is being developed based on the recommendation of the President’s Council of Advisors on Science and Technology, will be led by Andrew Liveris, the CEO of Dow Chemical Corp., on the company side, and MIT president Susan Hockfield on the university side.

Copyright 2011 ABC News Radio

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