This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Ill., Mich. Politicians Tout Manufacturing Labs

The Michigan institute will focus on lightweight and modern metals. The White House said that effort includes a 60-member consortium, pairing the world's leading producers of aluminum, titanium and high-strength steel with universities and researchers.

Michigan's long standing as a bastion of car-making may have helped that state grab one of the institutes. Automakers, seeking better fuel efficiency in their vehicles, increasingly have turned to lighter body components that burn up less gasoline.

The White House said pushing more research into lightweight metals through the planned institute also "will strengthen our defense capabilities, like enabling the creation of armored vehicles strong enough to withstand a roadside bomb but light enough for helicopter-transport."

John Anthony, a Canton trustee, told the Detroit Free Press he looked forward to hearing more details, calling that project potentially a revenue generator and "a tremendous opportunity."

Detroit Mayor Mike Duggan said he would work with the consortium to "maximize the job opportunities available to Detroiters."

The bidding competition overseen by the Defense Department drew proposals from across the country.

The two institutes a¿¿ along with last month's announcement that Raleigh, N.C., soon will be home to an Energy Department-led institute focusing on next-generation power electronics a¿¿ follow through on Obama's 2013 State of the Union pledge to push innovation through such regional hubs using existing resources. The Obama administration launched the bidding competition last May.

Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs