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Show The Industries of the Future strategy aligns Federal investments in technology research, development, and deployment with the needs and expectations of technology users in the private sector. As industrial R&D budgets are eroded in today's intensely competitive business environment, the strategy is designed to provide the coordination and careful focus sorely needed for the advancement of industrial technology. The Industries of the Future approach optimizes the complementary strengths of industry and government Each industry creates a vision that reflects the dynamic impact of market, business, social and regulatory drivers in their industry. The vision is developed by industry, for industry, and provides a framework for shaping major advancements in technologies. Each industry then prepares a technology road map to identify gaps and" the developments needed to reach vision goals. DOE facilitates or assists in roadmap preparation, if and as needed. DOE then works with industry to shape an implementation plan which, when completed, will lead to a portfolio of near-, medium-, and long tenn research, development and deployment activities. The objective is to leverage scarce government and industry resources for maximum results. OIT generally invests in areas of high payoff for the public and in areas where the level of risk is too high for individual companies to assume alone. Almost all projects involve industry cost sharing, both to ensure industry's commitment to the technologies selected and to enhance the probability of subsequent commercialization. The strategy is also designed to result in intraand interagency alliances within government For example, the strategy will identify opportunities for DOE to work with the Environmental Protection Agency on innovative ways for improving environmental perfonnance on a cost-effective basis. FOCUS TO YIELD THE BIGGEST RETURNS The seven industries employ 2.7 million people directly and four times that number are employed by fIrms providing supplies and services. They also provide the basic materials essential to the entire U. S. manufacturing sector, which turns them into products for the nation. 3 |