President Obama officially announced today (Tuesday) that Illinois will get a $70 million grant to build a digital manufacturing lab.
Those funds from the U.S. Department of Defense, along with $250 million more from public-private partnerships, will be put into whatâ€™s being called the Digital Manufacturing and Design Innovation Institute.
Obama says this particular lab in Chicago will focus on developing more efficient production methods, along with providing training for these new jobs.
â€śThe country that gets new products to market faster and at less cost, theyâ€™ll win the race for the good jobs of tomorrow,â€ť Obama said.
The institute will be operated by UI Labs. Some of the private companies involved include Caterpillar and Boeing. Obama says that this should attract jobs to the entire state, as product developers will want to be located near where those products are manufactured.