NAM President and CEO Jay Timmons is blogging from the Republican National Convention in Tampa this week.
In a matter of hours, we’ll hear the first speeches at the Republican National Convention in Tampa, but the National Association of Manufacturers (NAM) had an early opportunity to hear from some of our nation’s top leaders earlier this afternoon.
The NAM has partnered with the Politico newspaper to host policy events with political and business leaders in Tampa and Charlotte. Today, Governor Bob McDonnell of Virginia, Congressman Darrell Issa of California and former Hewlett-Packard CEO Carly Fiorina talked about the challenges job creators face and the policies that will get our economy moving again.
Manufacturing is clearly a priority in the economic recovery. After all, it has the highest multiplier effect of any other industry. Every dollar invested in manufacturing generates another $1.35 in economic activity. What’s good for manufacturing is good for our entire economy.
McDonnell, Issa and Fiorina each talked about the impediments that job creators face in this country and singled out taxes and regulation as challenges—sentiments that echo what manufacturers have been saying. As the recent NAM/Industry Week survey of manufacturers found, 64 percent of manufacturers cite the unfavorable business climate created by taxes and regulation as their biggest challenge.
Competitive tax and regulatory policies would go a long way toward restoring our economy to full strength. With the right policies, like those outlined in the NAM’s Manufacturing Renaissance, manufacturing will lead the economic resurgence and put Americans back to work.
The NAM-Politico event was great opportunity to highlight manufacturing and its crucial role in our nation’s future. That’s why the NAM is attending the conventions: To make sure that the national conversation about manufacturing continues into November and beyond.
Our collaboration with Politico is just part of our efforts. This morning, I talked about the policy challenges manufacturers face and what we are looking for from both presidential candidates on CNBC’s Squawkbox.