More than 100 senior manufacturing executives, economic development officials and other stakeholders are in Houston, Texas today and tomorrow for the inaugural Reinvesting in American Manufacturing conference, and the NAM is proud to be a strategic partner for this unique event exploring all aspects of domestic growth opportunities in the United States.
There is a real sense of excitement here about manufacturing and the U.S. as a location, a sea change from just a few years ago.
Some key drivers of new manufacturing investment in America are the natural gas boom, labor productivity and the importance of the United States as a market with more than 300 million people.
Yet many challenges remain, including the 20 percent cost disadvantage for manufacturers in the U.S. due primarily to regulations, taxes and tort costs. Manufacturers attending this event are also very concerned about the shortage of skilled workers for advanced manufacturing, a problem that will only get worse as the baby boomers retire. Several here have cited the great work of The Manufacturing Institute as a leader on workforce development issues.
An op-ed in today’s Houston Chronicle previews the conference and the powerful impact of foreign direct investment in Texas.