Stimulus, Growth and Confidence

By February 2, 2008Economy, Technology

John Engler, the president of the National Association of Manufacturers, was in St. Petersburg, FL on Thursday to speak to the Business and Institutional Furniture Manufacturers Association. He also had an opportunity to do an interview with The St. Petersburg Times, discussing the economy and manufacturing. Excerpt:

Will the recent economic stimulus package help the country?
From the manufacturing standpoint, I don’t think the stimulus package will help solve all of the economic challenges that the nation faces. However, I feel it’s very helpful in restoring public confidence.

There are some provisions that are beneficial in the short term for business and manufacturing. Accelerated depreciation would be helpful allowing companies larger depreciation on capital investment. We would like to see something in net operating losses (where a company can carry losses to a profitable year). We do believe the R&D credit for companies has to be done. For an economy that’s dependent on innovation, that is absolutely the least that we should be doing.

Florida’s manufacturing sector and the auto industry are also addressed.

BTW, guest speaker at BIFMA’s annual leadership conference was Colin Quinn, the comedian. Quinn was an engaged and entertaining attendee, took notes about the speeches, and Gov. Engler and he had a nice conversation.

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