Boosting Innovation in the Rust Belt
03:18 PM EDT
Soon, Youngstown, Ohio will be the home to a new public-private institute aimed at boosting innovation.
The National Additive Manufacturing Innovation Institute will focus on 3-D printing technology, and it will launch with $30 million in federal funding, matched by $40 million from manufacturing firms, universities, community colleges, and non-profits.
"This institute will help make sure that the manufacturing jobs of tomorrow take root not in places like China or India, but right here in the United States of America,” said President Obama. "That’s how we’ll put more people back to work and build an economy that lasts."
The Youngstown facility will serve Ohio, Pennsylvania, and West Virginia and is designed to function as a proof-of-concept for an eventual network of 15 manufacturing innovation institutes around the country.
In March, the President called on Congress to invest $1 billion to launch the National Network of Manufacturing Innovation to boost competitiveness throughout America.
Since lawmakers have yet to take action, the President is pushing forward with today's initial effort as part of the We Can't Wait initiative.
- See other steps President Obama has taken as part of the We Can't Wait initiative.