Industry Week – August 2019

As Baby Boomers are beginning to retire, jobs are opening up, thus the Silver Tsunami. According to the latest government data, there are now 522,000 open manufacturing jobs in the United States (an all-time high), and a recent report from Deloitte and The Manufacturing Institute (the National Association of Manufacturer’s social-impact arm) projects that 2.4 million manufacturing jobs will go unfilled over the next decade.

2019-10-09T16:45:51+00:00August 27th, 2019|

A Letter from Secretary Pryor

Dear Rhode Island business and community leaders: This is an exciting week in our state. As the week begins, we’re writing you in order to reflect upon Rhode Island’s economic progress to date and to thank you for your contributions to our collective work. This Week in Rhode Island First, Governor Raimondo and we on [...]

2019-07-18T13:28:04+00:00July 18th, 2019|

Manufacturing Focused Blogs

Opportunities in Manufacturing: Growing Sales of Existing ProductsThe Maker Movement – Feeding Today’s Manufacturing IndustryDealing with the Changing Landscape in the Manufacturing Workforce – Part 1Dealing with the Changing Landscape in the Manufacturing Workforce – Part 2

2019-07-11T14:17:56+00:00July 11th, 2019|

Service Organizational Control (SOC)

Service Organizational Control (SOC) - In the modern world, it has become common practice for organizations to outsource certain functions for business processes to third parties, rather than performing all processes “in house.”  When an organization decides to outsource a core business process to a third party, the risk of the service organization often times [...]

2019-07-11T14:15:54+00:00July 11th, 2019|

National Association of Manufacturers – July 2019

PMPA: With 80 companies responding, the PMPA Business Trends Index for May 2019 came in at 140, making it our 6th highest month ever recorded. While sales outlook dropped to a negative reading for the first time since October 2016, our Sentiment indicator for Profitability rose, while Lead time remained level.  Forward looking sentiment for [...]

2019-07-11T14:10:21+00:00July 11th, 2019|

News from DC July 2019

6/27/19 The Senate passed the 2019 National Defense Authorization Act. The bill includes Senator Whitehouse’s bipartisan USE IT Act to support carbon utilization and direct air capture research, and his bill with Senators Jack Reed (D-RI) and Dan Sullivan (R-AK), the SEA FUEL Act, to improve the U.S. military’s energy security and reduce carbon emissions called the [...]

2019-07-11T14:10:58+00:00July 10th, 2019|

News From Smith Hill July 2019

The Legislative session ended with some positive and negative results.  I would like to commend Speaker Mattiello, House Finance Chair Marvin Abney and the leadership team for formulating a good budget for the business community.  This was a tough budget to negotiate through.  I believe that the Speaker’s leadership was a major factor in producing [...]

2019-07-10T19:48:27+00:00July 9th, 2019|

News from Washingtion DC

Manufacturers Welcome Suspension of Proposed Tariffs on Mexico Imports Indefinitely. Late last Friday, President Donald Trump announced that proposed tariffs on Mexico were "indefinitely suspended," and NAM President and CEO Jay Timmons immediately responded saying that "manufacturers welcome the news that millions of jobs won't be jeopardized." Markets responded positively to the news, as did [...]

2019-07-11T14:11:01+00:00June 18th, 2019|

Small Business

Industry Week An overwhelming majority (98.6%) of American manufacturing companies are small businesses, and 75.3% of those businesses have fewer than 20 employees, according to new data released on May 23 by SCORE, mentors to America's small businesses. Last year,  small manufacturing businesses generated 11.6% of the U.S. economic output and employed 8.5% of the [...]

2019-07-11T14:11:19+00:00June 18th, 2019|

NAM ON MANUFACTURING STATUS

In fact, despite a multitude of challenges--slowing global growth, the partial government shutdown, trade policy uncertainties, a strong U.S. dollar--the U.S. economy grew a solid 3.1 percent at the annual rate in the first quarter. This was off slightly from the previous estimate of 3.2 percent growth, and it remained the strongest first quarter of [...]

2019-07-11T14:11:22+00:00June 18th, 2019|
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