A Manufacturing Renaissance

> With 21% of global manufactured goods produced here, the United States is the world’s largest manufacturing economy. But our own policies are threatening that leadership position. China is second at 15% and Japan is third at 12%.

> Because of our policies on taxes, energy, tort and trade, it is 20% more expensive to do business in the U.S. than it is in the countries which are our nine largest trading partners—and that is excluding the cost of labor.

> Federal regulation costs $1.7 trillion annually, according to the Small Business Administration.

> The U.S. has the second highest corporate tax rate among the major industrial countries, trailing only Japan.

> 70% of manufacturers pay income taxes at individual rates. Therefore, any tax increase on individuals is a tax increase on manufacturers.

> Direct tort costs total almost 2% of GDP in the United States—the highest level in the world.

> Health care costs have increased an average of 12% over the last 10 years.

> 95% of consumers live outside the U.S., making it critical for manufacturers to have access to global markets through free trade agreements.

> Currently, there are dozens of free trade agreements being negotiated around the world, but the U.S. is a party to just one.

> Through inaction on free trade agreements, we are ceding market share to our competitors.

> Manufacturing supports an estimated 18.6 million jobs in the U.S.—about one in six private sector jobs. Nearly 12 million Americans (or 9% of the workforce) are employed directly in manufacturing.

> In 2010, the average U.S. manufacturing worker earned $77,186 annually, including pay and benefits. The average worker in all industries earned $56,436.

> The R&D credit is a jobs credit. 70% of credit dollars are used for salaries of high-skilled R&D workers. Some 510,000 new jobs would be created if the credit were strengthened and made permanent.

> All of these factors and more are hurting American competitiveness. The 20% cost differential is caused by policies created in Washington, not in some far away capital.

The NAM has a four-point plan for economic growth and jobs, which will enable the U.S. to compete and succeed in the global economy.

Click here to read the White Paper.