Obama administration plans innovation hub to save US manufacturing

The Obama administration will set up an institute for manufacturing innovations, to help stop the flow of jobs to India and China.

''This institute will help make sure that manufacturing jobs of tomorrow take root not in places such as China or India, but right here in the United States of America,'' President Barack Obama said in a statement.

''That is how we will put more people back to work and build an economy that lasts,'' he added.

The National Additive Manufacturing Innovation Institute (NAMII), which would be based in Ohio, would be a public-private partnership initiative and has been granted $70 million as initial financial assistance.

''I am pleased that we are taking steps to strengthen American manufacturing by launching a new manufacturing institute in Ohio,'' he added.

On 9 March, Obama had announced plans for investing $1 billion to catalyse a network of up to 15 manufacturing innovation institutes around the country serving as regional hubs for fostering manufacturing excellence and competitiveness in the manufacturing sector and encourage investment in the US.