Today President Barack Obama and the members of his Jobs and Competitiveness Council will visit Durham, North Carolina-based Cree, Inc., a leading manufacturer of energy-efficient LED lighting with over 4,000 employees, 2,000 of which are in the United States. Cree is an example of the significant economic payback on federally funded scientific research as it is one of many American companies that can directly trace its founding to breakthrough research conducted at a university and sponsored by a federal agency.

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