Summit’s Focus: Help Manufacturing Thrive

May 14, 2012

in Press

Seven Cycles was in a Boston Globe article about the resurgence of manufacturing in Massachusetts.  While I don’t agree that there is a resurgence yet, I believe there is an opportunity for this.  However, the business environment will change first.  For example:

  • Boston is the fourth worst state in which to run a business.
  • “California and Massachusetts in league of their own for anti-business regulatory environment.” – CEO Magazine
  • Taxachussetts” has one of the highest corporate income tax rates in the nation at 9.5%.” – Mainstreet.com
  • Small Business Survival Index: 72.515; ranked number 44 out of all states.
  • It’s getting better – than the absolute worst; in 2006 and 2007 Massachusetts was ranked 49th in both years.

Here are a few of the highlights – which I agree with – from Hiawatha Bray’s article:

“[Manufacturing companies] face severe challenges, including tough international competition and a shortage of skilled employees.  […]  One challenge is labor. Despite the steep unemployment rate, manufacturing companies find it hard to land employees with the training needed for advanced manufacturing. And as skilled baby boomers retire, that problem is expected to get worse.”

“About 17.7 million Americans worked in factories in 1990, compared with 11.9 million today, according to the US Labor Department.”

That a 32% decline over a 20-year period.  Very scary.  We only have ourselves to blame.

 

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