A Knoxville-area based consortium of 122 companies, nonprofits, universities and research laboratories is partnering with the Department of Energy to create a more than $250 million manufacturing innovation institute focused on U.S. leadership in next-generation composite materials.
Today, the President is announcing the latest in a series of partnerships aimed at boosting advanced manufacturing, fostering American innovation, and attracting well-paying jobs that will strengthen the middle class. After a decade of decline, American manufacturing is coming back, adding 786,000 new jobs since February 2010. Today's new action is the kind of investment we need to build on this progress, creating the foundation needed for American manufacturing growth and competitiveness in the years to come.
The Department of Energy and a consortium of 122 companies, nonprofits, and universities led by the University of Tennessee-Knoxville will invest more than $250 million - $70 million in federal funds and more than $180 million in non-federal funds – to launch a Manufacturing Innovation Institute for Advanced Composites.
In addition to announcing the new hub, the President will applaud the recent passage of bipartisan legislation in Congress that takes a significant step toward creating a National Network for Manufacturing Innovation consistent with his vision to strengthen the resurgence of American manufacturing and help to create new, 21st century job opportunities for American workers in high-demand sectors.