Obama backs small manufacturers with US$550M fund
by The Associated Press
The White House announced the executive actions as part of the day's focus on manufacturing
WASHINGTON—President Barack Obama is expanding his push for increased manufacturing in the U.S. by directing federal money toward new technologies, apprenticeship programs and competitions designed to assist small manufacturers.
The White House is announcing the executive actions as part of the day’s focus on manufacturing, which administration officials consider one of the bright spots of the economic recovery.
The measures would:
Allow the Pentagon, NASA and the Energy and Agriculture departments to collectively spend $300 million to develop advanced materials and new technology for sensors and digital manufacturing.
Direct $100 million in Labor Department funds for apprenticeship programs aimed at advanced manufacturing.
Authorize the Commerce Department to spend $150 million over five years in 10 states to help manufacturers adopt and market new technologies.
