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Incredible Opportunity to Speak in Washington

Monday, May 12, 2014
posted by IMT-Webmaster

washington-DCRecently I had the opportunity to speak to the Small Business Subcommittee on Economic Growth, Tax and Capital Access, led by Chairman Tom Rice.  The main focus of this meeting was to discuss re-shoring in manufacturing and how to bring jobs back to our own shores.

Here are some excepts from the meeting as released here:  http://smallbusiness.house.gov/news/documentsingle.aspx?DocumentiD=%20372822

“Notable Quotes:

Kevin Harberts, President and CEO of Kryton Engineered Metals, Inc. in Cedar Falls, IA said, “…the uncertainty in Washington has the potential to hinder manufacturers’ future growth and reshoring successes. While politicians argue among themselves, employers like me are stuck in a holding pattern. We don’t know whether Congress will extend the R&D Tax Credit, we’re unsure what new rules OSHA and the EPA will impose on us, and we can’t find qualified workers in large part because Congress has not updated our job training laws in over a decade. The federal government needs to help foster an environment in which businesses from around the world want to reshore work to the United States.”  To see the rest of my testimony you can download it here.

Robert Hitt, Secretary of the South Carolina Department of Commerce, Columbia, SC said, “South Carolina’s manufacturing GDP was $28.7 billion in 2012. This is approximately 16.3 percent of the state’s overall economy, a larger share than on the national level, where manufacturing accounts for 12 percent of the U.S. economy.

“Where the small business community typically reaps benefits from manufacturing in our state is either by providing a value-added service in direct support of the manufacturing operation (such as machining or repair) or by providing other services like janitorial, staffing or subcontracting on construction projects. For South Carolina, the jobs multiplier for automotive manufacturing, for instance, is approximately four, meaning that for every automotive manufacturing job created in the state, three additional jobs in a variety of service and support functions are created. Most of these jobs are in small businesses. Other industries like aerospace, food products and machinery manufacturing have similarly high jobs multipliers.”

Shirley Mills, Director of The Boston Company in Boston, MA said, “For U.S. manufacturing and its workforce, the world is much more competitive than it once was. It can be tempting to talk about “jobs coming back,” but that is not quite accurate. Rather, incremental investment in American manufacturing may create new and different jobs. They may be higher-skilled and higher-paid than those that were lost, but there will probably be fewer of them. The broader benefit to U.S. employment — particularly lower-skill employment — will come from associated services, such as trucking, distribution, retail and banking.”

Mei Xu, CEO and Owner of Chesapeake Bay Candle in Bethesda, MD said, “[The Government should] help educate Americans that we need to be a nation that produces goods, rather than a nation that just purchases them. People should take pride in making things and the government should strive to eliminate the stigma associated with manufacturing jobs.”

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