July 11, 2016 - 1:00 AM EDT
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Unitron Media: Obama Announces New Los Angeles-Based Manufacturing Hub

TUCSON, AZ-- - The Obama administration selected a Los Angeles group Monday to lead an effort aimed at making manufacturing companies more competitive globally by helping them consume less energy and produce less waste.

The Smart Manufacturing Leadership Coalition in Los Angeles will receive $70 million from the federal government to establish the ninth of 15 "manufacturing hubs" that President Barack Obama wants set up across the country. The winning team of nearly 200 partners will at least match that amount.

The private-public partnership will develop smart sensors to make all types of manufacturing more efficient, Obama said at a conference designed to showcase investment opportunities in the United States.

The U.S. manufacturing sector has added over 800,000 jobs since February 2010. The industry has benefited greatly from lower natural gas prices. Obama said the creation of the manufacturing hub highlights how the United States is "running up the score" when it comes to the innovation edge companies enjoy when doing business there.

"The world is smaller than it used to be because of innovation," Obama said, adding: "that is something that can work for everyone if we do it right."

Administration officials said the manufacturing industry consumes about a third of the nation's energy. Chemical production and steel manufacturing are examples of two industries with large energy costs that could benefit through new technological breakthroughs.

"One should realize that the future's manufacturing jobs are fundamentally IT jobs," Energy Secretary Ernest Moniz said.

During a week focused on innovation, Obama will also attend a global entrepreneurship summit at Stanford University later this week.

He is participating in a panel discussion with Facebook NASDAQ: FB (NASDAW: FB) $FB founder and CEO Mark Zuckerberg and three yet-to-be named entrepreneurs.

About Hasit Vibhakar

Hasit Vibhakar is a proactive, performance-driven middle market executive with 20 years + progressive expertise in C-level leadership and problem solving for additive manufacturing, advanced CNC manufacturing, Additive Manufacturing, 3D Printing, supply chain, technology services, and startup operations. Proven track record of enhancing enterprise value and shareholder value. Experienced at building small cap and middle market companies.

Hasit Vibhakar is an Industrialist specializing in strategic direction and growth. A seasoned c-level business executive with many years of proven track record of building enterprise value and shareholder value. He has successfully started eight technology, industrial and manufacturing enterprises and all have been successfully acquired at premium multiples in the industry. Prior to being a serial entrepreneur he has been employed with leading aerospace, telecom, technology, industrial and supply chain based companies.

CONTACT: Gary Fortin

Unitron Media

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Source: Equities.com News (July 11, 2016 - 1:00 AM EDT)

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