September 5, 2012 | ||||||||
Use steam effectively with desuperheaters and proper maintenance | ||||||||
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Innovation and Investment are Key to Strengthening U.S. Manufacturing Competitiveness According to a new report from Deloitte, America can reverse the decline in the manufacturing industry, but only if it encourages innovation, trains workers and addresses tax reform and regulations, while also investing in infrastructure and energy.
The report, "Manufacturing Opportunity," explains that while low-cost basic
manufacturing is unlikely to ever recover its former importance in the
economy, it does not mean further decline is inevitable. Deloitte recommends
refocusing on long-term opportunities in increasingly complex and emerging
technologies--and in America's ability to lead in the innovation and
research and development of such breakthroughs.
"Most Americans believe manufacturing is central to improving the ailing economy and say not enough is being done to support it," said Craig Giffi, vice chairman and U.S consumer and industrial products leader, Deloitte LLP and the report's author. "During this election season, candidates have an opportunity to not only recognize the importance of manufacturing but also address ways to support it by fostering innovation, developing talent and making investments in infrastructure."
"Manufacturing Opportunity" states that new pathways to manufacturing growth are both available and achievable. It also outlines several recommendations compiled directly from input received during extensive interviews with leaders from the business and academic communities, as well as organized labor. They include:
Across the spectrum of policy, from the tax code to the direct incubation
of small businesses, government policy can either help spur--or inhibit--more
innovation. A healthy manufacturing base can drive emerging technology
development and help propel the United States into and prepare it for
the future.
"Manufacturing Opportunity" is the third in a series of Deloitte
studies to be published before the 2012 election. Visit www.deloitte.com/us/leadstrong
for research-based, non-partisan insights for public and private sector
leaders on these and related issues. To download a copy of the full
report, visit www.deloitte.com/us/manufacturingopportunity.
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