Is your business a “qualified New York manufacturer” that’s subject to the state’s 0% business income tax rate? As part of the Budget Bill of 2015, the New York State legislature made technical corrections to the corporate income tax reform that was enacted in 2014.
New York State has committed $250 million as part of a Rochester-based, NYS-led application to bring the Integrated Photonics Institute for Manufacturing Innovation (IMI) to the Empire State. Last fall, President Barack Obama announced a national competition for an Integrated Photonics IMI that could be the largest of a series of regional hubs that will accelerate the development of innovative manufacturing technologies.
Entrepreneurs and small businesses drive innovation and job growth. Yet these same firms struggle to adopt additive manufacturing. Why is this the case? In a recent report, the Office of Advocacy in the U.S. Small Business Administration (SBA) identified 11 barriers based on surveys and interviews. The SBA also proposes federal policies to help startups and smaller companies harness the power of 3D printing.
Why did it take so long for manufacturers to embrace 3D printing? The technology isn’t new. In fact, companies like 3D System and Starasys have been around for decades. Yes, there have been significant technological advances in terms of software, materials, and machines. But these great leaps forward are a function of something else. Bryan Dow of Mooreland Partners, a leading independent investment bank, may have the answer.
The Manufacturing Institute recently joined the accounting firm Deloitte in crunching some numbers that may alarm manufacturing leaders. According to a study from the two organizations, U.S. employers will be unable to fill an estimated 2 million manufacturing jobs over the next decade. The reason, a lack of qualified applicants, shows that manufacturing’s “skills gap” is real.
Safer States, an environmental health advocacy organization, is predicting that 28 U.S. states could change their laws about chemicals this year. Although the federal government maintains statutory authority under the Toxic Substances Control Act of 1976, states can ban individual chemicals.
Manufacturing is changing, but popular perceptions of factory work are antiquated. Assembly lines and manual labor are being replaced by automation and analytics, yet many Americans seem unaware of these advances. For U.S. companies, misperceptions and a lack of information mean that manufacturing may not attract the skilled talent that it needs. For American students, missing out on manufacturing is a mistake.
Even small reductions in aircraft weight can result in significant savings on aviation fuel. Global oil prices have plummeted, but that’s not keeping the aerospace industry from exploring new ways to reduce engine weight. “Investment in new-technology aircraft will not stop,” said Frank Pray, Chief Executive of aircraft lessor Intrepid Aviation, in a January 2015 article in the Wall Street Journal.
The American economy has lost nearly 5.8 million manufacturing jobs over the last two decades. Today, over 75% of U.S. manufacturers employ 20 or fewer workers. Although these small companies account for just 9% of the country’s manufacturing jobs, “they are by and large the types of businesses that have been growing and creating jobs” since the Great Recession, writes Kim Gittleson of the BBC News.
"*" indicates required fields
