Intel-led $3.5 billion Invest in America Alliance helps U.S.-based tech companies

IEEE-USA president says U.S. job growth will result from Invest in America Alliance, an Intel-led program that pledges 2 years of help, more jobs for college graduates.


Invest in America Alliance summary

Intel summarized the plan like this.

-Intel Capital leads venture capital industry commitment to invest $3.5 billion in U.S. companies;

-Pledge by 17 corporations to increase hiring goals in 2010 resulting in 10,500 new jobs for college graduates; and
-Invest in America Alliance unveiled by Intel CEO in Washington, DC, during a speech outlining the need for a culture of U.S. investment.


Intel-led Invest in America Alliance, a two-year $3.5 billion initiative to support investment in U.S.-based technology companies garnered praise from Evelyn Hirt, IEEE-USA president. The initiative, IEEE says, also commits to significantly increase jobs for college graduates.

"We commend the Invest in America Alliance for its investment in U.S. businesses and for creating high-skill job opportunities for U.S. workers," Hirt said in a Feb. 26 announcement. "Overall, this will benefit the U.S. economy as we recover from the recession, and it is anticipated that additional near- and long-term job opportunities will result. This pledge for hiring college graduates and the prospect of future job opportunities will assist in encouraging young people to continue to seek education in science and engineering," Hirt noted.

Also read from Control Engineering
IEEE: Computing, robotics, education benefit from tighter human-technology interactions - Seven emerging technologies (see photos) could result in automatic guided vehicles that never stop to recharge, more nimble robotics, and smarter pattern recognition for faster cancer detection (and perhaps better predictive controls). Other advances could help those with nerve damage walk using a robotic exoskeleton, then, perhaps under their own power.


Companies joining Intel in the pledge are Accenture, Adobe Systems Inc., Autodesk, Broadcom Corporation, CDW LLC., Cisco, Dell, eBay Inc., EMC Corp., GE, Google Inc., HP, Liberty Mutual Group, Marvell Semiconductor Inc., Microsoft Corp., and Yahoo!

Intel president and CEO, Paul Otellini, announced the initiatives Tuesday in a speech at the Brookings Institution in Washington.

Strong, enduring economies grow out of a culture of investment and a commitment to innovation," Otellini said. "We simply must have a clear, consistent strategy to promote innovation, investment and start-up companies. There are things business can do, and ought to do, independent of what government achieves.

"It would be a long-term mistake to let our future scientists and engineers sit idle after graduation. [These] announcements are both an investment in the country's innovators and a signal to the global marketplace about America's commitment to innovation and future competitiveness."

The $3.5 billion alliance investment includes a new $200 million "Intel Capital Invest in America Technology Fund" that will target key innovation and growth segments such as clean technology, information technology and biotechnology.

Otellini's announcement also included a pledge from 17 technology and other corporate leaders to increase their hiring goals for college graduates over 2009 levels, some as much as twofold. This represents 10,500 jobs, largely for those with engineering and computer science backgrounds.

"I believe that together our commitments to seeding the ground with start-up capital will prove to be a very rewarding investment for both the companies that contribute, and for the competitiveness of the United States," Otellini said. "And, since venture-backed companies in the U.S. accounted for more than 12 million jobs, or 11 percent of total private sector employment in 2008, these investments will also help drive job growth in the U.S. now and in the future."

IEEE-USA advances the public good and promotes the careers and public policy interests of more than 210,000 engineers, scientists and allied professionals who are U.S. members of IEEE, the organization says.

- Edited by Mark T. Hoske, editor in chief, Control Engineering ,


No comments
The Engineers' Choice Awards highlight some of the best new control, instrumentation and automation products as chosen by...
The System Integrator Giants program lists the top 100 system integrators among companies listed in CFE Media's Global System Integrator Database.
The Engineering Leaders Under 40 program identifies and gives recognition to young engineers who...
This eGuide illustrates solutions, applications and benefits of machine vision systems.
Learn how to increase device reliability in harsh environments and decrease unplanned system downtime.
This eGuide contains a series of articles and videos that considers theoretical and practical; immediate needs and a look into the future.
Choosing controllers: PLCs, PACs, IPCs, DCS? What's best for your application?; Wireless trends; Design, integration; Manufacturing Day; Product Exclusive
Variable speed drives: Smooth, efficient, electrically quite motion control; Process control upgrades; Mobile intelligence; Product finalists: Vote now; Product Exclusives
Machine design tips: Pneumatic or electric; Software upgrades; Ethernet advantages; Additive manufacturing; Engineering Leaders; Product exclusives: PLC, HMI, IO
This article collection contains the 5 most referenced articles on improving the use of PID.
Learn how Industry 4.0 adds supply chain efficiency, optimizes pricing, improves quality, and more.

Find and connect with the most suitable service provider for your unique application. Start searching the Global System Integrator Database Now!

Cyber security cost-efficient for industrial control systems; Extracting full value from operational data; Managing cyber security risks
Drilling for Big Data: Managing the flow of information; Big data drilldown series: Challenge and opportunity; OT to IT: Creating a circle of improvement; Industry loses best workers, again
Pipeline vulnerabilities? Securing hydrocarbon transit; Predictive analytics hit the mainstream; Dirty pipelines decrease flow, production—pig your line; Ensuring pipeline physical and cyber security