The U.S. market: More appealing for manufactureres than ever
According to a recent Wall Street Journal article, the American market is “shining brighter than ever” and that many American manufacturers are choosing to build capacity right here at home:
“With growth slowing in China and a slump gripping much of Europe, companies are adding capacity in the U.S., replacing aging equipment and even moving overseas production back from low-cost labor markets, a sign that corporate America could be poised to take a bigger role in the economic recovery.”
Manufacturing is slowly but surely becoming a bright spot in our economic recovery—a phenomenon that has not gone unnoticed by White House, as was evident during President Obama’s heavy focus on manufacturing during his recent State of the Union address.
According to the WSJ, this manufacturing “sea change” has not gone unnoticed by American companies:
"It is an environment that feels like it is building momentum," William Plummer, United Rentals' chief financial officer, said in an interview. "We are coming out of the depths of the recession and are starting to build momentum on the upside."
And as for the “money-saving” practice of offshoring production, many companies are happy to admit that it’s actually cheaper for them to keep production local:
"We find it as cheap to manufacture in the U.S. as China," [Chief Executive of Carlisle Companies, a small conglomerate that makes insulation, tires and restaurant supplies] Dave Roberts wrote in an email. "We will still manufacture in China, but the idea would be to manufacture product for Asia in Asia, for the U.S. in the U.S."
Related recent Blogs
- President Obama visits Baltimore factory to promote infrastructure investment as a means of revitalizing the middle class • by LDonia • 05/17/2013
- It's Fashion Friday, but NoCargo carries more than just American-made clothing! • by LDonia • 05/17/2013
- May 17, 2013 Headlines: Strengthening our national security, focusing on jobs, and more. • by LRaup • 05/17/2013
- Five reasons you should be concerned about the U.S. military's reliance on foreign manufacturers. • by LDonia • 05/16/2013
- Looking for a manufacturing job? Consider heading to one of these ten metro areas! • by mmcmullan • 05/16/2013
- National Retail Federation dismisses global safety plan for garment factories while Cambodian shoe factory collapses. • by LDonia • 05/16/2013
- OPINION: Aren't we better off buying safe, Made-in-USA products? • by scapozzola • 05/16/2013
- May 16, 2013 Headlines: factory collapses in Cambodia, U.S. retail industry dismisses plan for safer working conditions, & more • by LDonia • 05/16/2013
- U.S. Senate Passes Water Resources Development Act (WRDA) with Buy America Amendment Included. • by scapozzola • 05/15/2013
- And the crystal ball says that U.S. manufacturing is going up/down/sideways... • by scapozzola • 05/15/2013