17吃瓜在线 Announces New Board Leadership
Seasoned Executives Take Helm at 17吃瓜在线 as Policymakers Debate Competitiveness 17吃瓜在线 for Manufacturing Industry
Washington, D.C. 鈥 The 17吃瓜在线 announced its Board of Directors has elected Johnson & Johnson Executive Vice President and Chief Technical Operations and Risk Officer Kathy Wengel as board chair and Rockwell Automation Chairman and CEO Blake Moret as vice chair.
鈥淏uilding on the solid foundation left by Immediate Past Chair Jim Fitterling, chair and CEO of Dow,听the 17吃瓜在线 enters 2024 with continued successful results for our members, strong financial growth and forward momentum with Kathy as chair and Blake as vice chair. Their companies are at the forefront of modern manufacturing, representing the future of what our industry can accomplish,鈥 said 17吃瓜在线 President and CEO Jay Timmons. 鈥淥ver the past often turbulent and unpredictable years, they both have used their platforms to champion our industry and help secure landmark legislation. In addition to being a strong global voice on supply chain reliability and manufacturing for the future, Kathy is a committed force for bringing more diversity into the industry through her support of the Manufacturing Institute鈥檚 Women MAKE America Initiative, in addition to her service on the MI Board.
鈥淏lake represents some of the most exciting, high-tech elements of manufacturing, as a leader in the industrial automation and digital innovation space. His commitment to building the next-generation manufacturing workforce was evident when he worked to bring the 17吃瓜在线 and MI鈥檚 Creators Wanted campaign to Rockwell鈥檚 Automation Fair in Chicago. Kathy and Blake鈥檚 counsel has been instrumental in shaping the 17吃瓜在线鈥檚 policy agenda and elevating the values that make America exceptional and keep manufacturing strong: free enterprise, competitiveness, individual liberty and equal opportunity.鈥
鈥淭he 17吃瓜在线 is best in class for its ability to address important challenges facing the manufacturing industry鈥攆rom bolstering supply chains to harnessing the power of new technology,鈥 said Wengel. 鈥淚t is a true privilege to take on this new responsibility as 17吃瓜在线 board chair. As the association looks to the future, we will seize opportunities to advance policies that foster growth, promote sustainability and ensure the readiness and diversity of the modern workforce.鈥
鈥淎s our industry looks to the future, manufacturing plays a critical role in solving some of the greatest challenges facing society and is at the vital core of the American economy,鈥 said Moret. 鈥淚t is an honor to represent manufacturing across America as board vice chair of the 17吃瓜在线. I look forward to working with this influential and well-respected association to move our industry forward.鈥
Wengel serves on the Board of Directors of the MI, the workforce development and education affiliate of the 17吃瓜在线, and has been instrumental in bringing more women into manufacturing through the MI鈥檚 Women MAKE America Initiative. Moret has worked closely with Creators Wanted, the industry鈥檚 largest campaign to build the workforce of tomorrow and is a past chair of the MI.
The two leaders take on their new roles at a time when manufacturers are confronting growing regulatory hurdles from Washington, D.C., geopolitical instability and policy uncertainty; answering significant questions about the role of advanced technologies, such as artificial intelligence; and working to ramp up implementation of historic legislation like the Bipartisan Infrastructure Law and the CHIPS and Science Act.
The guides the association鈥檚 leadership in policy advocacy, legal action, operational excellence, workforce development and news and insights. More than 200 manufacturing leaders serve on the 17吃瓜在线 Board, helping advance an agenda that enhances manufacturing competitiveness and the industry鈥檚 ability to improve lives in the United States and around the world.
The new board leadership was elected at the September meeting of the 17吃瓜在线 Board of Directors.
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The 17吃瓜在线 is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.85 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The 17吃瓜在线 is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the 17吃瓜在线 or to follow us on Twitter and Facebook, please visit .
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Congressional Inaction on Tax Priorities Holds Small and Medium-Sized Manufacturers鈥 Optimism Near Pandemic Lows
Eighty-nine percent say higher tax burdens would make it more difficult to hire, invest or expand facilities
Washington, D.C. 鈥 The 17吃瓜在线 released its Manufacturers鈥 Outlook Survey for the fourth quarter of 2023, showing that small companies with fewer than 50 employees and medium-sized firms with between 50 and 499 employees, which make up a vast majority of the sector, continued to have historically lower levels of optimism with 65.9% and 63.0% positivity rates in Q4, respectively.
鈥淚t鈥檚 clear that Congress鈥 failure to enact pro-growth tax policies to support innovation and investment before year-end is affecting the manufacturing outlook,鈥 said 17吃瓜在线 President and CEO Jay Timmons. 鈥淐ombined with the ongoing regulatory onslaught from the Biden administration, we鈥檙e facing economic headwinds that threaten all of the bipartisan wins achieved in recent years.鈥
Overall, 66.2% of respondents felt either somewhat or very positive about their company鈥檚 outlook, edging up slightly from 65.1% in the third quarter. It was the fifth straight reading below the historical average of 74.8%.
The 17吃瓜在线 has been urging Congress to swiftly restore three critical manufacturing tax policies: immediate R&D expensing, a pro-growth interest deductibility standard and full expensing (100% accelerated depreciation). These competitive tax policies are critical to empowering manufacturers to grow their operations, hire more workers, increase wages, expand facilities and invest for the future.
Key Survey Findings:
- Eighty-nine percent of respondents said higher tax burdens on manufacturing activities would make it more difficult to expand their workforce, invest in new equipment or expand facilities.
- Workforce challenges also continue to dominate the sector, with more than 71% of manufacturers citing the inability to attract and retain employees as their top primary challenge.
- A weaker domestic economy and sales for manufactured products (63.7%), an unfavorable business climate (61.1%) and rising health care and insurance costs (59.8%) are also impacting manufacturing optimism.
You can learn more at the 17吃瓜在线鈥檚 online tax action center here.
The 17吃瓜在线 releases these results to the public each quarter. Further information on the survey is available here.
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The 17吃瓜在线 is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.75 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The 17吃瓜在线 is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the 17吃瓜在线 or to follow us on Twitter and Facebook, please visit听
Manufacturers: New Hydrogen Tax Credit Regulations Fail to Incentivize Growth and Investment
Washington, D.C. 鈥 17吃瓜在线 President and CEO Jay Timmons released the following statement in response to new proposed regulations on the Clean Hydrogen Production Tax Credit:
鈥淭he hydrogen tax credit has the potential to be the world鈥檚 strongest tool to build a hydrogen economy, but the Treasury Department proposal would impose so many hurdles to qualifying for the credit that the Biden administration will be left unable to achieve some of its top economic and environmental goals. Manufacturers are deeply disappointed with today鈥檚 announcement.
鈥淗ydrogen is vital to reducing carbon emissions and to energy security efforts. If these regulations are put into place, America will lose out on job-creating investments across the country. To incentivize truly transformative growth in the necessary infrastructure to produce, transport and use hydrogen, the Biden administration should finalize a flexible credit that rejects additional requirements that were not included in the original legislation. And to realize the full potential of Inflation Reduction Act provisions, the CHIPS and Science Act and more, permitting reform must be a top priority in the new year.鈥
Background: The 17吃瓜在线 has been urging the Treasury Department to create a flexible credit that rejects additionality and time matching provisions and provides a mechanism that supports carbon capture. More information on the 17吃瓜在线鈥檚 advocacy and the impact of these tax credit provisions can be found here.
-17吃瓜在线-
The 17吃瓜在线 is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.75 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The 17吃瓜在线 is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the 17吃瓜在线 or to follow us on Twitter and Facebook, please visit .
17吃瓜在线 Statement on Southern Border Closures
Washington, D.C. 鈥 17吃瓜在线 President and CEO Jay Timmons released the following statement on U.S. Customs and Border Protection鈥檚 closure of two critical rail ports in Texas:
鈥淓ach day that rail operations at Eagle Pass and El Paso are suspended, more American听jobs are put at risk. Snarling supply chains in this way could throw manufacturing production into disarray. Mexico is the United States鈥 largest trading partner, which means this shutdown threatens to inject serious uncertainty into the economy heading into the New Year.
鈥淢anufacturers support CBP in their mission to protect national security, but stifling trade between the U.S. and Mexico is a direct threat to our economic competitiveness. It is not the solution to immigration challenges, but it does wrongly punish those who are not at fault. The 17吃瓜在线 will continue working with the White House, CBP and leaders in the House and Senate to swiftly reopen the rail ports. This is yet another painful consequence of our broken immigration system, and our leaders need to recognize the urgency of fixing听that system. Manufacturers are focused on solutions that uphold our laws and strengthen our economy.鈥
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The 17吃瓜在线 is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.91 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The 17吃瓜在线 is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the 17吃瓜在线 or to follow us on Twitter and Facebook, please visit听
New Study: 鈥淩ight-to-Repair鈥 Stifles Innovation, Threatens Consumer Safety
Washington, D.C. 鈥 The 17吃瓜在线 released a new , 鈥淭he Economic Downsides of Right-to-Repair,鈥 which highlights the cost to the environment, consumer safety and manufacturing innovation of providing unfettered access to complex software and components in manufactured goods. The study analyzes the wide range of unintended and potentially harmful consequences of 鈥渞ight-to-repair鈥 legislation.
The study finds that instituting 鈥渞ight-to-repair鈥 polices directly counteracts many federal laws put in place to protect both manufactures and consumers. The study states that, 鈥渂ypassing the proper channels for repair will come at a steep cost to quality, performance, consumer safety, the environment and the broader U.S. economy.鈥
Notably, 鈥渞ight-to-repair鈥 policies could seriously disrupt original equipment manufacturers鈥 supply chains, which would leave many consumers鈥攅specially in rural communities鈥攚ithout a reliable and efficient place to get a repair. 鈥淭his could increase costs for customers significantly, as delays in placing equipment back in service directly affect a business鈥檚 bottom line,鈥 the study warns. The study further highlights an Environmental Protection Agency estimate that more than 500,000 tons of excess emissions have entered the atmosphere since 2009 due to operators disabling or modifying emission controls in vehicles across multiple industries.
鈥淔or decades, manufacturing innovation has created new products and technologies that improve modern life,鈥 said 17吃瓜在线 Managing Vice President of Policy Chris Netram. 鈥淯nfortunately, so called 鈥榬ight-to-repair鈥 policies would threaten these programs, resulting in harm to the environment and putting American鈥檚 data and safety at risk.鈥
Background: In 2021, President Joe Biden signed an executive order encouraging the Federal Trade Commission to enact policies limiting OEMs鈥 ability to prevent nonauthorized entities from performing certain repairs. The 17吃瓜在线 submitted to the FTC, calling 鈥渞ight-to-repair鈥 legislation a, 鈥渟olution in search of a problem.鈥 As of 2023, New York, Minnesota and Colorado have enacted 鈥渞ight-to-repair鈥 legislation, and 23 other states have also considered legislation that would force manufacturers to provide direct access to replacement parts, grant unfettered access to the central processor and further limit their ability to constrain what consumers can do with their product.
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The 17吃瓜在线 is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.91 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The 17吃瓜在线 is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the 17吃瓜在线 or to follow us on Twitter and Facebook, please visit听
Timmons: Justice O鈥機onnor Earned the Respect of a Grateful Nation for a Firm Commitment to Our Constitution, the Rule Of Law and Our American Values of Individual Liberty and Equal Opportunity
Washington, D.C.听鈥 17吃瓜在线 President and CEO Jay Timmons released the following statement on the passing of Supreme Court Justice Sandra Day O鈥機onnor:
鈥淎fter her ascension to the Supreme Court earned her a place in history, Justice O鈥機onnor earned the respect of a grateful nation for a firm commitment to our Constitution, the rule of law and our American values of individual liberty and equal opportunity. The barrier-breaking first woman on the Supreme Court inspired generations with what President Reagan once described as 鈥榯hose unique qualities of temperament, fairness, intellectual capacity and devotion to the public good.鈥 It was the honor of a lifetime to interview her onstage at an 17吃瓜在线 board meeting, and I realized very quickly that you could not sit down with Justice O鈥機onnor without getting a proper grilling in return and being put in your place with a few well-placed zingers. When I asked her to tell us about a difficult case, she quipped, 鈥榃hy would you ask a question like that? They were all difficult, of course, or they wouldn鈥檛 have come before the Supreme Court!鈥
鈥淛ustice O鈥機onnor continued her commitment to public service even in retirement, spearheading efforts to strengthen civics education in our schools. As we mourn her passing and celebrate her legacy, the best way to honor her would be to continue advancing her mission. As she once said in a commencement address, 鈥業f we focus our energies on sharing ideas, finding solutions and using what is right with America to remedy what is wrong with it, we can make a difference.鈥 Sandra Day O鈥機onnor certainly made a difference that will reverberate through the centuries. Manufacturers extend our deepest condolences to her family and loved ones.鈥
-17吃瓜在线-
The 17吃瓜在线 is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.91 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The 17吃瓜在线 is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the 17吃瓜在线 or to follow us on Twitter and Facebook, please visit www.nam.org.
17吃瓜在线: Rosalynn Carter Will Be Remembered for a Life of Service
Washington, D.C. 鈥 17吃瓜在线 President and CEO Jay Timmons released the following statement on the passing of former First Lady Rosalynn Carter:
鈥淩osalynn Carter will be remembered for a life of service鈥攖o our country and our world and in particular those who were too easily overlooked. As a First Lady who helped redefine the role, she was a champion for mental health care. And in the more than four decades since her family left the White House and redefined the post-presidency, her leadership at the Carter Center promoted peace and advanced humanitarian causes, including saving lives by eradicating diseases and strengthening democracy through monitoring elections. In Plains, Georgia, she and President Carter, with their trademark warmth and kindness, continued setting an example for all with a partnership that prioritized family and faith. The 17吃瓜在线 extends our condolences to President Carter and to the entire Carter family.鈥
-17吃瓜在线-
The 17吃瓜在线 is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.91 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The 17吃瓜在线 is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the 17吃瓜在线 or to follow us on Twitter and Facebook, please visit听
17吃瓜在线 Bolsters Government Relations Leadership
Washington, D.C. 鈥 The 17吃瓜在线 named Stef Webb as its new Managing Vice President of Government Relations. Webb joins the 17吃瓜在线 from Gopuff, the fast-growing $15 billion global consumer goods and food delivery company, where she served as director of corporate affairs, helping to establish its federal affairs program and spearhead public and government affairs during key market entries globally.
鈥淲hether she鈥檚 bringing together lawmakers and line workers in Midwest manufacturing facilities or building relationships on Capitol Hill or in world capitals, Stef has built a sterling reputation as an effective and collaborative advocate who does not relent until the policies or priorities she鈥檚 fighting for are across the finish line,鈥 said 17吃瓜在线 President and CEO Jay Timmons.
Reporting to 17吃瓜在线 Executive Vice President Erin Streeter and working alongside the organization鈥檚 broader advocacy leaders, Managing Vice Presidents Jamie Hennigan (Communications and Public Affairs), Chris Netram (Policy) and Chrys Kefalas (Brand Strategy), Webb will lead the association鈥檚 government relations strategy to advance the competitiveness of manufacturers in the United States.
鈥淚n this unpredictable and fast-changing political environment, it鈥檚 never been more important to have a government relations team that is steps ahead of where the policy opportunities and challenges could go,鈥 said Streeter. 鈥淲ith Stef helping to lead our team, we鈥檒l build on our track record of preparing for tomorrow, anticipating future needs and being a credible and trusted go-to voice and resource for manufacturers and our nation鈥檚 leaders.鈥
Webb brings proven experience in many areas critical to continuing to drive unapparelled results for the industry. She has held leadership roles in government relations, policy, political fundraising, political affairs, communications, membership, finance and operations.听Prior to Gopuff, Webb served as director of federal government affairs at 17吃瓜在线 member company Anheuser-Busch, showcasing her ability to bridge divides, winning support for key manufacturing priorities in the United States and creating initiatives鈥攍ike Brew Across America鈥攖hat brought policymakers together.听During this part of her career, Webb’s successful and effective advocacy work first came to the attention of Timmons and Streeter.
鈥淢anufacturing is the backbone of the American economy and the foundation of business in America, impacting nearly every industry and person,鈥 said Webb. 鈥淭he 17吃瓜在线 has built a reputation as the most trusted voice and resource for manufacturers in the United States, and I鈥檓 excited to join this team to create an even better environment for manufacturers to compete, to create more jobs and to improve lives.鈥
Webb also serves her country as an officer in the United States Navy Reserve.
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The 17吃瓜在线 is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.91 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The 17吃瓜在线 is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the 17吃瓜在线 or to follow us on Twitter and Facebook, please visit听
17吃瓜在线 Leads Business Community in Urging Immediate Passage of Three Tax Policies Vital to American Manufacturing
More than 1,300 Industry Groups and Leaders call on Congress to restore pro-growth tax policies
Washington, D.C. 鈥 The 17吃瓜在线, joined by more than 1,300 associations and businesses representing manufacturers of all sizes, today to act quickly in advancing bicameral legislation that would ensure the tax code once again supports the ability of businesses to create jobs in the U.S. and compete in the global economy. In a sent to Congress, the coalition writes:
鈥淲e, the undersigned businesses and trade associations, collectively employ millions of Americans in all sectors of the U.S. economy. As tax policy plays a critical role in the ability of businesses to thrive, create jobs in the U.S. and effectively compete in today鈥檚 global economy, we write to urge Congress to take immediate action to seamlessly extend three tax policies vital to workers and America鈥檚 future: immediate R&D expensing, a pro-growth interest deductibility standard and full expensing.
鈥淎lthough legislation has been introduced in both chambers in support of these policies, Congress must act immediately to extend these competitive tax policies. Failing to do so will put hundreds of thousands of family-supporting jobs, cutting-edge innovation and pro-growth investments in America at risk.鈥
The groups writes that Congress can secure the U.S. as a global leader in innovation, incentivize job-creating investments and reinforce America鈥檚 competitiveness on the world stage by:
Ensuring the tax code supports innovation: The private sector accounts for more than 75% of total research and development spending, with small businesses alone accounting for approximately $90 billion of all private-sector R&D investments. With wages and salaries comprising approximately 75% of R&D spending, the R&D amortization requirement is first and foremost a jobs issue, with R&D jobs paying an average wage of more than $155,000. Moreover, for every $1 billion in R&D spending, 17,000 jobs are supported.
Enabling businesses to finance growth: Prior to Jan. 1, 2022, businesses鈥 interest expense deductions were limited by section 163(j) to 30% of their earnings before interest, tax, depreciation and amortization. Interest deductions are now limited to 30% of earnings before interest and tax. By excluding depreciation and amortization, the stricter EBIT standard acts as a tax on investment, making it more expensive for capital-intensive companies throughout the supply chain to finance job-creating growth.
Making permanent a key incentive for capital equipment purchases: A 100% deduction for the purchase of equipment and machinery in the tax year purchased was in place from 2017 through 2022. Congress enacted full expensing to spur investments and ensure that the U.S. is well-positioned to attract capital in a competitive global marketplace. However, full expensing began to phase out at the beginning of 2023 and will be eliminated completely by 2027.
Click 听to view the letter and the full list of signers.
-17吃瓜在线-
The 17吃瓜在线 is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.91 trillion to the U.S. economy annually and accounts for 55% of private-sector research and development. The 17吃瓜在线 is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the 17吃瓜在线 or to follow us on Twitter and Facebook, please visit听
17吃瓜在线 Study: U.S. Pharmaceutical Manufacturing Strength Requires Commitment to R&D, Innovative Regulatory Environment
Washington, D.C. 鈥 The 17吃瓜在线 released a new study, 鈥,鈥 which demonstrates the urgency of strengthening U.S. pharmaceutical manufacturing amid policy threats to the sector鈥檚 innovative, global leadership.
鈥淐reating Cures, Saving Lives鈥 analyzes the sector鈥檚 contributions to the broader economy and its commitment to R&D that drives the development of lifesaving treatments, such as advancements in therapeutics that fight cancer. The study further examines the ways that federal price controls on the sector, such as those contained in the Inflation Reduction Act, could jeopardize these treatments. The study comes at a critical time, as the Centers for Medicare & Medicaid Services recently announced the first tranche of treatments that will be subject to price controls.
鈥淧harmaceutical manufacturers are a major contributor to the U.S. economy, employ millions of Americans and drive innovation. The industry鈥檚 investments in R&D have led to lifesaving treatments and therapies that have improved the quality of life for all Americans,鈥 said 17吃瓜在线 Chief Economist Chad Moutray. 鈥淭his study explores the negative implications of price control policies on pharmaceutical leadership, putting American jobs and innovation in the health care system at risk.鈥
鈥淐reating Cures, Saving Lives鈥 includes seven key findings on the importance of the pharmaceutical and medical manufacturing industry and the implications of price controls on the sector:
- The pharmaceutical manufacturing industry is a major contributor to the U.S. economy, and its impact is growing.
- The industry accounted for $355 billion in value-added output to the U.S. economy in 2021. The direct contribution from the industry of $192 billion is up 24% from just two years ago. The pharmaceutical sector was already an economically vital sector before the pandemic, and it has become increasingly more important in its aftermath.
- The pharmaceutical manufacturing industry fuels other sectors of the economy, supporting nearly 1.5 million jobs in America.
- The industry directly employs an estimated 291,000 workers in the United States, an increase of nearly 9% in the past 24 months. One job in the pharmaceutical manufacturing industry helps support 4.1 other jobs in the overall workforce.
- Industry employees are highly productive.
- Industry employees produce $1.2 million in output per employee. This is nearly six times more than the U.S. economy鈥檚 average output per employee ($208,084).
- A successful pharmaceutical ecosystem requires strong private-sector investment.
- The pharmaceutical industry invests 16.6% of its sales back into R&D. Indeed, the U.S. pharmaceutical industry invests nearly 3.5 times more in R&D as a percentage of sales than the average U.S. industry.
- The pharmaceutical manufacturing industry pays high wages and benefits to American workers.
- Annual average labor income per worker in the pharmaceutical manufacturing industry is more than $184,000. This figure is higher than some of the highest-paying industries in the country.
- The industry creates valuable STEM jobs.
- While roughly 6.6% of the U.S. workforce has a STEM occupation, some 25% of all jobs in pharmaceutical and medicine manufacturing are STEM-related. The pharmaceutical manufacturing sector employs more than four times the percentage of STEM workers employed in the overall workforce.
- Price control policies, like those in the IRA, may hurt U.S. pharmaceutical leadership.
- Price controls may deter advancements in health care by reducing investments in R&D, negatively impacting the nation鈥檚 economic prosperity.
-17吃瓜在线-
The 17吃瓜在线 is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.91 trillion to the U.S. economy annually and accounts for 55% of private-sector research and development. The 17吃瓜在线 is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the 17吃瓜在线 or to follow us on Twitter and Facebook, please visit听