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Blog Category: IMCP

After State of the Union Secretary Lew Highlights Importance of U.S. Manufacturing and Workforce Training

Secretary Lew speaks to Virginia State University interns and research faculty during his visit to the Commonwealth Center for Advanced Manufacturing in Prince George County, Virginia

Guest blog post by Marissa Hopkins Secreto, Senior Advisor to the Assistant Secretary of Public Affairs at the United States Department of the Treasury and Angie Martinez, Director Office of External Affairs at the U.S. Department of Commerce, Economic Development Administration.

Crossposted from Treasury Notes.

As part of President Obama’s call for creating more high-tech manufacturing jobs in his State of the Union Address last week, Treasury Secretary Jacob J. Lew visited the Commonwealth Center for Advanced Manufacturing (CCAM) in Prince George County, Virginia, on Friday. Secretary Lew toured CCAM’s facility and discussed the future of U.S. manufacturing and the importance of workforce training with CCAM’s business and university partners, as well as Matt Erskine, Deputy Assistant Secretary of Commerce for Economic Development.

“To build on the progress we have made over the last five years, we have to continue to take action to help strengthen economic growth, create jobs, and restore opportunity for all,” Secretary Lew said in statement about his visit.  “CCAM is at the forefront of expanding opportunity by bringing researchers, students, and business together to drive innovation and develop advanced manufacturing technologies.  It is also a powerful example of why this Administration’s focus on increasing job training, modernizing our education system, and creating manufacturing institutes is so important."
 
CCAM is changing the game for how we can grow manufacturing in the U.S. Their approach bridges the gap between fundamental research typically performed at universities and product development routinely performed by companies. CCAM’s members guide the research, leveraging talent and resources within CCAM and at Virginia’s top universities, through a collaborative model that enables them to pool R&D efforts to increase efficiencies. Results can then be applied directly to the factory floor, turning ideas into jobs faster and more affordably than ever before.  CCAM is just one example of the federal government’s efforts to connect universities to businesses and strengthen American manufacturing and our economy through these partnerships.

Secretary Pritzker Announces Administration-Wide Initiative to Attract Manufacturing and Investment in American Communities

Secretary Penny Pritzker announced the launch of Phase 2 of the “Investing in Manufacturing Communities Partnership” (IMCP), an administration-wide initiative led by the White House and the U.S. Department of Commerce that will encourage communities to devise comprehensive economic development strategies that strengthen their competitive edge in attracting global manufacturers and their supply chains.

Pritzker announced the initiative during her opening remarks at the White House Mayor’s Manufacturing Community Summit. During this phase, communities will have an opportunity to compete for a special designation that will elevate them in consideration for $1.3 billion in federal dollars and assistance from 10 cabinet departments/agencies. These communities could also potentially receive catalytic additional federal investments to further support their economic development strategies.

The IMCP is a critical component of the Department of Commerce’s “Open for Business Agenda,” which prioritizes trade and investment. The initiative seeks to enhance the way we leverage federal economic development funds to encourage American communities to focus not only on attracting individual investments one at a time, but transforming themselves into globally-competitive manufacturing hubs.

During Phase One, 44 communities were awarded a total of $7 million to support the creation of economic development strategies that recognize the community’s comparative advantages as a place to do business, invest in public goods, and encourage collaboration between multiple entities to expand the area’s commercial appeal to investors.

Manufacturing Award Grants Will Invite Lasting Investment for Our Communities

Guest blog post by U.S. Secretary of Commerce Penny Pritzker

This past spring, the Commerce Department launched the Investing in Manufacturing Communities Partnership (IMCP), a first-of-its-kind initiative to provide communities with the resources needed to create and implement development plans and recognize their full economic potential.

I’m so pleased to announce 26 grant award winners have been selected by the Department of Commerce. Along with our agency partners – the Department of Agriculture, the Environmental Protection Agency, and the Small Business Administration – we are awarding $7 million in grants and investments that comprise the first funding phase of the Investing in Manufacturing Communities Partnership.

The communities selected as winners by the Department of Commerce represent 17 different states. They have developed cutting-edge plans that capitalize on these communities' comparative advantages as a place to do business. These plans make investments in public goods, and encourage collaboration between multiple public and private entities to expand the area's commercial appeal to investors. In total, the first funding phase of the program provides 44 planning grants and investments.

The IMCP stemmed from the recognized need to effectively accelerate manufacturing investment in the United States. Too often, communities have relied on the practice of “smokestack chasing” to attract investment, in which communities will offer tax breaks and subsidies to attract the attention of a single firm. Economists have found this approach often yields a low return for taxpayer investment. The Obama administration seeks to encourage and assist American communities to not merely make efforts to attract individual investments but instead to transform themselves into manufacturing hubs that that draw all kinds of businesses.