Industrial Policy Act of 1972

The Industrial Policy Act of 1972 was a U.S. law aimed at fostering economic growth and improving the country's industrial capacity. It recognized the need for a coordinated government approach to support industries vital to the economy. The Act encouraged the development of new technologies and competitive industries, promoting collaboration between the public and private sectors. By establishing a framework for industrial policy, it aimed to create jobs, enhance productivity, and boost the nation's international competitiveness, responding to challenges from global markets.