Five Ways to Revive U.S. Manufacturing
Its report, Make: An American Manufacturing Movement, provides dozens of specific recommendations for addressing the five key challenges facing U.S. manufacturers:
“American manufacturing is either in steep decline, doing reasonably well, or poised to grow, depending on who you’re listening to,” says Jack McDougle, the council’s senior vice president for manufacturing. “You hear a lot of things in the press, but what is really going on? Could we peel away some of the rhetoric and think about [the challenges facing U.S. manufacturers] as globalization expands, industries mature, and things change? Could we develop...an appropriate response to those issues?”
McDougle will share the council’s recommendations for a robust manufacturing sector on May 2 during a keynote address to start Tech ManufactureXPO, a virtual trade show sponsored by ASSEMBLY, Quality, Appliance Design, Adhesives & Sealants and World Trade 100.
Similarly, many Americans would be surprised to learn that the largest share of U.S. foreign investment dollars is actually in high-cost European economies. For instance, total U.S. investment in Ireland over the past 10 years is more than three times greater than investment in China during the same period.
Some of the report’s other tax and economic reform recommendations include: