Commerce to Host Second Investing in Manufacturing Communities Partnership Summit
Commerce Blog
September 23, 2015
American manufacturing is making a comeback, and for good reason. For every $1.00 invested in manufacturing, the sector generates $1.32 for the economy. Moreover, manufacturing jobs are highly skilled, well-paying career opportunities that provide a key path to the middle class, with workers earning 17 percent more than similar workers employed in other sectors. That is why the Obama Administration has made supporting manufacturing a top priority. The Investing in Manufacturing Communities Partnership (IMCP) program is a great example of that support.
IMCP was announced in 2013 as new federal partnership among more than a dozen federal agencies to promote manufacturing investment and create jobs. It encourages communities to develop comprehensive economic development strategies that will strengthen their competitive edge for attracting global manufacturer and supply chain investments. Communities were given the opportunity to apply to be designated as a “Manufacturing Community” under IMCP, and the first designees were named in May 2014.
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The Department of Commerce’s Economic Development Administration (EDA) is the only federal agency solely focused on economic development. While economic development can take many forms (e.g., infrastructure, technical assistance, planning), workforce development is an especially critical tool to strengthening America’s workforce. Ensuring that American workers are trained with the skills they need to compete in the 21st century economy is a high priority for President Obama and the Administration, the Department of Commerce, and EDA.
These days, there is a lot of talk about “innovation hubs.” When people think about innovation, many think about tech-heavy areas like Silicon Valley or Austin, Texas with young start-up CEOs in jeans and hoodies. Or they think of big cities like Boston and Atlanta where giant companies invest in research and development for the next scientific breakthrough.
In April 2015, EDA issued a Federal Register Notice heralding some proposed improvements to our forms as part of overall enhancements we’re making to the grant application process. Very soon, those changes will become institutionalized. Here are a few key things you need to know to be ready when the FY2016 Public Works and Economic Adjustment Assistance Programs Federal Funding Opportunity hits the streets.
Albert Einstein once said that “No problem can be solved from the same level of consciousness that created it.” The same wisdom can be applied when it comes to repairing flood damage to a road that has been built in the path of a flood plain. Sure, you can keep repairing the damage each time the flood waters recede, but that doesn’t leave you in any better position the next time it happens. Much like you have to raise your level of consciousness to solve a problem, you need to raise the level of the road out of the reach of flood waters.