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Top CEOs Declare America's Manufacturing Sector Requires Pro-Industry Policies, Capital Management and Innovation to Maintain Economic Leadership
Date:6/15/2009

DETROIT, June 15 /PRNewswire/ -- Business, nonprofit and advocacy leaders today have called for a recovery of the manufacturing sector that includes enacting pro-industry policies and regulation that drive research and development, managing capital and investment, and creating new demand through innovation and globalization. The executives participating in the "Manufacturing Competitiveness" Town Hall at The National Summit in Detroit agreed that economic growth requires the United States to be a manufacturing leader.

The panelists shared ideas and recommended specific actions that would help restore manufacturing's prominence in the United States:

  • Chip McClure, CEO, ArvinMeritor: The future of manufacturing must rely on advancing through innovation, exploration and commercialization, which requires an increasingly sophisticated workforce and government policies to generate continued growth.
  • Vikram Pandit, CEO, Citi: Any discussion of manufacturing in America must now include origin and availability of capital. Struggling companies will re-tool and repurpose, and they require plans worthy of investment. The financial community must work together with manufacturers to rebuild for the century ahead.
  • John Engler, president of National Association of Manufacturers: The United States remains the world's largest manufacturing nation, accounting for more than 19.5 percent of global manufacturing output. In 2007, the country produced more volume of products than ever before, and manufacturing represented $1.6 trillion of our economy. However, manufacturing is in recession. Every action the federal government takes to impose new burdens or add new costs makes it more difficult for manufacturers to create jobs and compete in the global economy.
  • Deborah Wince-Smith, president, Council on Competitiveness: The global competitive landscape has changed radica
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SOURCE ArvinMeritor
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