"I'm pleased to announce America's newest high tech manufacturing hub, which will be focused on the next generation of power electronics, is going to be based right here in Raleigh, North Carolina," President Obama said in a speech Wednesday morning.
The newest high tech hub is in North Carolina, but the Coachella Valley has had an innovation hub for just over two years.
"They come in the door and say, 'This is something I'd like to make a business out of,' and we accelerate the process of either proving this is something good to go into or not good to go into," Coachalla Valley iHub's Joe Wallace said.
A major focus for the CV iHub is to create a sustainable future, along with something that is always good to do - keep businesses local.
"They spend the money they make here, they invest in housing here, they buy cars here,' Wallace said.
It's a place for innovators like Deena Suffin to launch her ILYK device.
"We integrate social media into live events, it's a service we provide for our marketing clients. It's a way for them to reach out to their clients and find out what they're interested in," Suffin said.
Suffin said launching the ILYK product without an iHub wouldn't have been as affective; she added it gave her a leg up.
"It's giving us access to all kinds of people out here," Suffin noted.
Not to mention access to ideas and office space as well - all free. Why don't more businesses use iHubs? Not everyone knows they exist.
"You wouldn't have been here if it wasn't for the President's speech," Wallace said.
Enter the importance of President Obama's words, announcing the creation of one of 45 planned technological innovation hubs in North Carolina as part of a push to revolutionize the future of american manufacturing.
"Great visibility, locally in the state and all over the country,” Wallace said.
"It makes perfect sense in the technology driven era we are in. Being able to do start-ups quickly is key and financially minimized to have a lot of support. No one company can support all the technology you need to build a big infrastructure and iHubs allow you to do that,” Jane Shore said.
For more information, go to http://www.cvihub.com.