Obama announces plan to invest $500M in advanced manufacturing
NEWSCORE
Last Updated: 12:24 PM, June 24, 2011
Pittsburgh, Pa. -- President Barack Obama announced Friday a federal plan to invest $500 million to help develop advanced manufacturing technologies and jobs.
The initiative, unveiled at Carnegie Mellon University in Pittsburgh, includes partnering with a number of universities and companies, such as the Massachusetts Institute of Technology, Honeywell International and Dow Chemical, to jump-start innovation in advanced manufacturing.
The plan differs from the Obama administration's other manufacturing initiatives in that it is aimed at creating advanced manufacturing jobs, Dow Jones Newswires reported.
Obama's initiative revolves around uniting government, university and corporate resources to determine where money is most needed for high-tech manufacturing innovation and research and development.
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