Up to 12 Communities to Receive Coordinated Federal Funding to Revitalize Manufacturing U.S. Secretary of Commerce Penny Pritzker today announced the opening of the competition for the next round of designations under the Investing in Manufacturing Communities Partnership (IMCP) initiative, building on the momentum from the first-ever Investing in Manufacturing Communities Partnership Summit in Washington, DC.
The Investing in Manufacturing Communities Partnership, an Administration-wide initiative coordinated by the U.S. Commerce Department, is designed to accelerate the resurgence of manufacturing in communities nationwide. Specifically, the program aligns federal economic development investments behind long-term economic development strategies that help communities attract and expand private investment in the manufacturing sector and increase international trade and exports. Secretary Pritzker announced the first 12 communities to receive a designation under the Investing in Manufacturing Communities Partnership in May 2013, and this competition seeks to double the number of IMCP-designated communities across the country.
“The Investing in Manufacturing Communities Partnership initiative is a crucial part of the Obama Administration and Commerce Department’s efforts to strengthen innovation and the U.S. manufacturing sector, while better leveraging public dollars for economic growth and job creation,” said Secretary Pritzker. “Expanding the Investing in Manufacturing Communities Partnership program will help more American communities coordinate with local partners to develop strong strategic plans to attract investment and transform themselves into globally competitive commercial hubs.” The Investing in Manufacturing Communities Partnership program is designed to revolutionize the way federal agencies leverage economic development funds. It encourages communities to bring together local partners to develop comprehensive economic development strategies that will strengthen their competitive edge for attracting global manufacturer and supply chain investments. Being designated as a Manufacturing Community entitles communities to receive a dedicated federal point of contact and coordinated support for their strategies from eleven federal agencies with an additional consideration for over $1.3 billion in aligned federal economic development funding.
“The first 12 designated communities are making incredible strides in workforce development, advanced manufacturing innovation, and building partnerships,” said U.S. Assistant Secretary of Commerce for Economic Development Jay Williams. “We are looking forward to growing the number of designated communities in an effort to keep this tremendous momentum going.” The Investing in Manufacturing Communities Partnership competition and network of communities is designed to inspire and share knowledge of economic development best practices across the country. The IMCP Summit, co-hosted by the Commerce Department and its Economic Development Administration (EDA) on October 30th and 31st, provided an opportunity for more than 60 communities to discuss best practices, address challenges, and share ideas about how to promote American manufacturing. The 12 designated communities, which have been implementing their plans, also had the opportunity to share the progress they are making on their plans and showcase their successes.
The Obama Administration first launched the national Investing in Manufacturing Communities Partnership competition in December 2013. Through IMCP, eleven federal departments and agencies are aligning their efforts behind successful local economic development strategies: For more information on the Investing in Manufacturing Communities Partnership program, visit: http://www.eda.gov/challenges/imcp/index.htm.
Source: U.S. Department of Commerce
