The Biden Administration’s monumental American Jobs Plan proposal continues to garner significant attention as the President makes strategic visits touting its anticipated benefits.
As proposed the complex plan provides substantial funds for a wide array of “infrastructure” investments – necessitating further discussion to achieve the buy-in needed to go forward.
As part of the IW Members Only offering, we will run regular video chats designed to spend a few moments with thought leaders to discuss topics that matter to American manufacturers.
Continuing the focus on the infrastructure plan, this episode dives into the supply chain component of the plan where the goal is to invest in domestic and nearshore work, enabling manufacturers to reimagine their supply chain efforts and offset some costs.
Did you miss the first episode? Check it out here.
From the Fact Sheet
According to the fact sheet released by the White House, the plan provides for investments to strengthen the U.S. manufacturing sector, which accounts for 70 percent of business R&D expenditure, 30 percent of productivity growth, and 60 percent of exports. “Manufacturing is a critical node that helps convert research and innovation into sustained economic growth. Workers on the factory floor work hand-in-hand with engineers and scientists to sharpen and maintain our competitive edge. While manufacturing jobs have been a ladder to middle-class life, we have let our industrial heartland be hollowed out, with quality jobs moving abroad or to regions with lower wages and fewer protections for workers.”
The Biden Administration is asking Congress to invest $300 billion in order to:
· Strengthen manufacturing supply chains for critical goods.
· Protect Americans from future pandemics.
· Jumpstart clean energy manufacturing through federal procurement.
· Make it in ALL of America.
· Increase access to capital for domestic manufacturers.
· Create a national network of small business incubators and innovation hubs.
· Partner with rural and Tribal communities to create jobs and economic growth in rural America.
