June 22, 2016 - The Obama administration earlier this week named Rensselaer Polytechnic Institute in Troy as the regional manufacturing hub of a new $140 million federal manufacturing institute, which will focus on factories of the future, leading to improvement through innovation and technology.

The Smart Manufacturing Innovation Institute, which will be headquartered in Los Angeles, will help the manufacturers in the United States to use sensors, software, digital controls, data and the industrial internet to make their factories more efficient which in turn will cut costs and boost the output. The institute will get $70 million from the Department of Energy and the same amount from private investment. The effort by the Obama administration is to make U.S manufacturing companies better in global competition at the same time trim energy requirements and give out less pollution.

The Smart Manufacturing Leadership Coalition in Los Angeles will be the ninth among the fifteen "manufacturing hubs" which the current President plans to set up all through the country.

As the U.S. manufacturing sector grows, it adds jobs and since 2010 February, 800,000 jobs have been added by the sector.

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