Looming Defense Cuts Threaten Thousands of North Carolina Jobs

By July 11, 2012Economy

The looming defense cuts threaten not just our national security, but our economic security. The study recently released by the NAM predicts that without Congressional action, these cuts will cost over a million American jobs, creating a devastating ripple effect throughout the manufacturing supply chain.  These looming cuts, as part of the impending fiscal cliff, are part of the ongoing negative environment for business and it’s time for Washington to start working for manufacturers.

Today Jay Timmons, NAM’s President and CEO, joined with the North Carolina Chamber and the Lord Corporation to bring the that message to Raleigh, North Carolina. One of the ten states that will be hit the hardest, North Carolina stands to lose 34,200 jobs by 2014. Lew Ebert, the President and CEO of the North Carolina Chamber of Commerce, made it clear that in a state struggling with one of the highest unemployment rates in the nation, this is a burden that North Carolinians simply can’t bear.

(Left to right) Lew Ebert of the North Carolina Chamber of Commerce, Will Austin of the Lord Corporation, and Jay Timmons talk about the looming defense cuts at the headquarters of the North Carolina Chamber.

Will Austin, Director of Government Affairs for the Lord Corporation, spoke frankly about the uncertainty that his company is facing and the strain that it has placed on their ability to plan for the future. Unless Congress acts, companies like Lord will have some tough decisions to make.

Mr. Timmons emphasized the NAM’s commitment to preventing the defense cuts and protecting the million plus jobs that are at risk. He noted that every day, manufacturers in the U.S. already face a 20 percent cost disadvantage – Washington doesn’t need to make things even more difficult by creating such a negative, and perhaps irrevocable, blow to our economy.

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