New Data Show Rising Costs Imposed On Manufacturers Threaten Job Growth

October 7, 2009

IndustryWeek reports, "A new handbook produced in by The Manufacturing Institute, the Manufacturers Alliance/MAPI and the U.S. Department of Commerce, concludes that U.S. manufacturing is being challenged by increasing costs including corporate taxes, health care and pensions, regulations and energy and tort litigation." Emily Stover DeRocco, president of The Manufacturing Institute, said, "The facts clearly illustrate that manufacturing is central to America's economic future" but rising costs are "hampering our manufacturers' competitiveness in a global, interconnected marketplace. Non-production costs add almost 18% to U.S. manufacturers' costs relative to our major trading partners." DeRocco also noted "that the U.S. is not equipping American students and workers with the right skills needed to compete in the modern global manufacturing economy. ... And the trade gap is widening for manufacturers in the U.S., indicating a need for strategies to increase exports, promote free trade and level the playing field."