New manufacturing innovation hub in Knoxville, Tennessee, announced by President Obama.

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President Obama New Manufacturing Innovation Hub in Knoxville, TennesseePresident Obama announced a new manufacturing innovation hub in Knoxville, Tennessee, 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.

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 to launch a Manufacturing Innovation Institute for Advanced Composites: $70 million in federal funds and more than $180 million in non-federal funds –

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.