Snap-O Fact #44

Based on the Michigan 21st Century Jobs Fund awarding $125 million to Michigan business achieving the most innovative proposals to create new jobs in the state, the Obama Administration established an Advanced Manufacturing Fund to invest in peer-reviewed technology and manufacturing processes. On Aug 5, 2009, the White House announced $2.4 billion of high-tech manufacturing grants in order to keep American manufactures competitive with other countries in development of technology. This fund was slated to go to the manufacturing and development of electric vehicles, batteries, and components. 

Sources:

http://www.politifact.com/truth-o-meter/promises/obameter/promise/6/create-an-advanced-manufacturing-fund-to-invest-in/ 

http://www.whitehouse.gov/the-press-office/2011/06/24/president-obama-launches-advanced-manufacturing-partnership

http://change.gov/agenda/economy_agenda/

http://articles.latimes.com/2011/jun/24/news/la-pn-obama-pittsburgh-20110624

http://www.huffingtonpost.com/2011/10/18/manufacturing-innovation_n_1018086.html