President Obama’s Budget Enhances Innovation and American Competitiveness
WASHINGTON (April 10, 2013) – The Information Technology and Innovation Foundation (ITIF) praised President Barack Obama for focusing on long term investments in research, development and innovation in his annual budget message to Congress.
“Innovation is central to revitalizing our economy, enhancing American competitiveness and boosting job growth and quality of life,” notes Robert Atkinson, President of ITIF. “The President has proposed a series of initiatives, backed by significant government investment, which will greatly improve our national innovation infrastructure.
The budget proposal includes a $1 billion appropriation for the creation of the National Network for Manufacturing Innovation (NNMI), a series of 15 advanced manufacturing centers designed to spur research, development and deployment of next generation technologies that will enhance manufacturing competitiveness and job creation.
“NNMI will serve as a hub for new technology, workforce training and enhanced collaboration between industry, government and academia, while spurring the creation of the new products, processes and industry sectors that are vital to reviving American manufacturing,” Atkinson adds.
President Obama also called for a nine percent increase in non-defense R&D over 2012 levels, which will expand innovation capacity and spur private sector investment.
“Research indicates that every dollar of public research induces 27 cents of private R&D investment,” Atkinson adds. “By expanding government research investment we can spur innovation and competitiveness of the entire U.S. economy.”
To view an ITIF report on the impact of innovation on economic development visit, http://www2.itif.org/2012-national-network-manufacturing-innovation.pdf