March 9th, 2012
10:18 AM ET
In Virginia today President Obama will unveil new manufacturing initiatives during a visit to the Rolls Royce Crosspointe jet engine disc factory. According to a fact sheet put out by the White House, the president will call for a “National Network for Manufacturing Innovation,” which it says will help up to 15 manufacturing “Institutes” to foster innovation around the country.
The president’s budget calls for $1 billion to create the new network, but in the meantime the administration plans to use $45 million from the Departments of Defense, Energy, and Commerce and the National Science Foundation to create a pilot institute.
Obama has made manufacturing a central part of his economic proposals in recent months, and in doing so his administration has repeatedly highlighted the recent success the industry has had creating new jobs. Here’s how the White House describes its latest initiative:
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