Posted by The P/Oed PatriotPicture from Money.CNN.com
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In what might be interpreted as a kickback to his fellow Democrats, and an end run around the ‘stalemate’ in Congress, according to an article on the latimes.com, President Obama is to announce on Tuesday that he is moving ahead with his economic plan (even if Congress isn’t) by opening two new Manufacturing Institutes in Detroit and Chicago funded in a joint Public/Private partnership between the Department of Defense, several private corporations and Universities:
WASHINGTON — President Obama plans to announce on Tuesday the opening of two new manufacturing institutes in the Chicago and Detroit areas as part of a larger plan to use public-private partnerships to advance his agenda despite opposition from Republicans in Congress.
Several federal agencies will join forces with companies and universities to run the institutes, which will be devoted to bridging the gap between applied research and product development, according to an administration official familiar with the plans.
Each institute will function as a “teaching factory,” the official said, and will provide training for workers while also helping companies get the expertise and equipment they need to offer new products and manufacturing processes.
The government will put up $140 million to match the more than $140 million promised by the private sector leaders involved with each project, said the official, who requested anonymity to discuss the plans before the official announcement next week. The federal government will devote $70 million to each of the two institutes.
To read more about Detroit go here.
To read more about Chicago go here.