Obama Outlines 2010 Budget

Office of Management and Budget (2/26) – While the details of the FY2010 $3.6 trillion request will not be available until April, a review of "A New Era of Responsibility: Renewing America's Promise" indicates some positive news for manufacturers. Noteworthy funding for the Department of Commerce includes:

• $125 million for the Hollings Manufacturing Extension Partnership, to enhance the competitiveness of the Nation's manufacturers by facilitating the adoption of more efficient manufacturing processes.
• $70 million for the Technology Innovation Program, which invests in high-impact research that will address critical national needs and advance innovation.
• $50 million in regional planning and matching grants within the Economic Development Administration (EDA) to support the creation of regional innovation clusters that leverage regions’ existing competitive strengths to boost job creation and economic growth.
• $50 million initiative in EDA that will create a nationwide network of public-private business incubators to encourage entrepreneurial activity in economically distressed areas.