After shedding jobs for a decade, American manufacturers have added about 500,000 positions over the past three years. Production is growing at its fastest pace in over a decade. And as part of his plan to do everything he can to create jobs, strengthen the middle class, and fuel economic growth, President Obama is committed to continuing this progress, which is why he’s laid out a comprehensive agenda to make America a magnet for manufacturing.
Today, following through on a promise he made in his State of the Union, the President rolled out the first piece of that agenda, announcing competitions to establish three new Manufacturing Innovation Institutes. These new institutes, partnerships among business, universities and community colleges, and government, will develop and build manufacturing technologies and capabilities to help U.S.-based businesses and workers create good jobs.
We asked Gene Sperling, Director of the National Economic Council, to explain in 60 seconds or less why these institutes are an important part of the President’s strategy to invest in manufacturing. Hear what he had to say below.
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