The Big Three set the stage for a manufacturing renaissance
There’s big news out of Detroit this week surrounding the manufacturing sector.
It centers around a new study from the Center for Automotive Research.
According to a new study, the 2008-2009 auto bailouts saved 1.5 million jobs in the auto industry — meaning that each job cost the country less than $12,000 since 2009. In return, those employees have contributed more than $105 billion to the government in taxes — a net gain of nearly $59,000 apiece.
The rebound in the automotive manufacturing sector has also played a key role in what may prove to be a manufacturing renaissance. In ReMaking America Alliance for American Manufacturing (AAM) Scott Paul explains:
After shedding jobs and factories, the Detroit Three have, since 2010, hired back workers and invested in U.S. manufacturing facilities at a fairly strong clip. The long tail of the automotive value chain has spread these benefits around to other sectors of the industrial economy. Employment in the auto sector is growing, with 160,000 more jobs expected to be added through the end of 2015. Industry, after years of opposition, agreed to a 54.5-mpg fuel-economy standard and embraced hybrid and electric vehicle technology.
The big three automakers like other U.S. manufacturers provide employment that helps to create a middle class lifestyle. Keep up the good work.
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