President Obama Launches Competition for Textile Investment

WASHINGTON — President Obama upped the ante in his push for investing in Made in USA on Wednesday, launching a competition for a $150 million public-private investment in a new textile manufacturing innovation institute. “After a decade of decline in U.S. manufacturing during the 2000s, the American textile industry is adding jobs for the first time in two decades, increasing shipments by nearly a fifth since the recession, and winning globally with a 45 percent increase in exports since 2009,” the White House said. “Today’s announcement builds on this momentum in American textile manufacturing and lays the foundation for future leadership in the production of sophisticated fibers and textile technologies.”

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