Making Value for America Embracing the Future of Manufacturing, Technology, and Work (2015) / Chapter Skim
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Executive Summary
Executive Summary
Pages 1-9
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At the same time, developments in software and data collection are enabling businesses to better understand customers' needs, optimize design and production processes, and discover new market opportunities, which can generate increased demand and new enterprises that will create jobs. It is important for businesses and communities across the United States to understand and respond to the changes affecting value chains for manufacturing and high-tech services not only because these activities account for a significant portion of the country's economic growth and middle-class jobs but also because the economy as a whole mirrors these changes.
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COMPETITION IN THE GLOBAL ECONOMY Globalization and the development of emerging economies are increasing competition. While the United States remains a world leader along multiple
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Many USbased businesses have moved their operations abroad to take advantage of growing demand from emerging markets, easy access to capital, more efficient operations, established supply chains, particular workforce expertise, and tax advantages. Others are beginning to move some manufacturing operations back on-shore, as cost advantages sometimes erode and the loss of connection with other parts of the value chain, such as research and development and new product development, becomes more problematic.
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Integrating systems across value chains presents significant opportunity for businesses focused on front-end activities as well as traditional manufacturers. Policymakers, educators, and community leaders have important roles to play to ensure that the United States has an ecosystem that facilitates the adoption of best practices and attracts and creates businesses along the value chain and the broader economy.
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• The establishment of local innovation networks across the United States will foster the formation of new businesses and connect entre preneurs to individuals, investors, tools, and institutions, both locally and around the world, that can help grow their businesses. Certain fundamental areas need improvement on a federal basis to facilitate innovation throughout the value chain.
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The current tax structure encourages a preference for quicker returns over long-term investments to create new products and businesses. • Data suggest that the rate of new business creation in the United States is declining.
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• Manufacturers should implement principles and practices such as Lean Manufacturing that enable employees to improve productivity and achieve continuous improvement. • Businesses should work with local school districts, community colleges, and universities to form partnerships to help students graduate from high school, earn an associate's or bachelor's degree, and take part in continuing education in the workplace.
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• State governments should work with local governments to optimize the decision-making process for urban development investments and siting to facilitate the creation of innovation networks. • State legislatures, with local government and Congressional support, should invest in a world-leading wireless infrastructure.
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• Metro area governments should work with state governments to optimize the decision-making process for urban development investments and siting in order to facilitate the creation of innovation networks. • Local governments, with state government and Congressional support, should invest in a world-leading wireless infrastructure.
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