Future of U.S. Manufacturing
Industry News and Information
- Manufacturing is Essential for Economic Growth and Prosperity but Faces Big Challenges, According to January 2010 Report
As U.S. manufacturers struggle to recover from the brutal recession, a new report finds that manufacturing fuels economic prosperity but requires pro-growth policies to create jobs and remain globally competitive. The report released by the National Association of Manufacturers (NAM) and the Council of Manufacturing Associations (CMA) was written by economists Joel Popkin and Kathryn Kobe. WMMA is a sponsor of the report and two previous reports in the series that feature data and analysis about the importance of U.S. manufacturing to the nation's economy. Read more.
- New Study Gives Roadmap for U.S. Job Creation and Long-Term Growth
Released in January 2010, an economic report conducted by the Milken Institute and sponsored by the National Association of Manufacturers (NAM) shows that changes to economic and tax policies and investment in key infrastructure project categories could create more than 11 million jobs in the United States this decade.
- What are some of the report's policy prescriptions? Just consider the following:
- Reducing the U.S. corporate income tax to match the average of other industrial countries (OECD nations) would trigger new growth. By 2019, it could boost real GDP by $375.5 billion and create an additional 350,000 manufacturing jobs — total employment rising by 2.1 million.
- A permanent R&D tax credit, increased by 25 percent, could boost real GDP by $206 billion (1.2 percent) and generate 316,000 manufacturing jobs.
- Modernizing U.S. export controls could increase exports in high-value areas, enhancing real GDP by $64 billion by 2019 and creating 160,000 manufacturing jobs.
Read more.
- NIMS - The Case for Metalworking Skill Standards
