FY 1996 Science and Technology Budget - Press Briefing
(3) The FY96 budget requests increased funding for technology partnerships with U.S. Industry. Even in the best of economic climates, federal investment is essential in helping foster development of critical technologies where private investment is inadequate, as when risks are high and no single company can capture enough of the benefits. The federal government always has played a key role in developing new technology in areas such as agriculture, aerospace, medicine, and electronics, areas that have served as basic building blocks for economic development. Today, tough international competition is putting unprecedented pressures on American industry, and many firms have cut back on critical long-term research, research that is more vital than ever to the nation's economic future. This is no time to waver in our traditional commitment to public support for applied research. These partnership programs represent a small but increasingly vital component of the federal R&D portfolio.

next page To comment on this service: feedback@www.whitehouse.gov