U.S. President Barack Obama on Monday announced a new smart manufacturing hub, which is designed to promote advances in smart sensors and digital process controls.
"Today, I'm proud to announce a ninth hub based in Los Angeles that will design smart sensors to make all types of manufacturing more efficient," Obama said at the third-annual SelectUSA Summit in Washington. "And we've got more hubs on the way," he added.
After a decade of decline from 2000 to 2010, the U.S. manufacturing sector has added over 800,000 jobs since February 2010.
In his remarks, Obama believed that manufacturing hub can boost global trade and investment by providing low energy prices, rule of law and a mature capital market.
In addition, the Smart Manufacturing Innovation Institute will receive 70 million U.S. dollars from the Obama Administration in order to establish the ninth of 15 planned manufacturing hubs in the United States.
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