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July 10th, 2005

The Economic Promise of Nanotechnology

George Allen (Republican senator from Virginia): As a U.S. senator, I have championed several initiatives over the past several years to nurture U.S. leadership in innovation. Perhaps none was more exciting than sponsoring the 21st Century Nanotechnology Research & Development Act, which was signed into law by President Bush on December 3, 2003. Together with my hardworking friend and colleague, Senator Ron Wyden (D-Oregon), we were successful in launching the National Nanotechnology Program, which became the single largest federally funded, multiagency scientific research initiative since the space program in the 1960s, securing $3.63 billion over four years.

For the United States to remain competitive in this global market, it is essential that the nation keep its edge in this field, and nowhere does this matter more then in properly educating our young people.

I am increasingly convinced that U.S. economic competitiveness in the global marketplace depends on success in developing a vibrant and innovative nanotechnology community.


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