It has been said "necessity is the mother of invention." I add to that, "if you want to do something very much you will think of a way to do it"
In a recent article from Ebeling Heffernan it was reported that:
economists had expected manufacturing in the USA to slow in August, but the closely watched figures from the Institute of Supply Management pointed to an acceleration of output growth even as separate regional surveys painted a more downbeat picture. A surprise bounce in manufacturing activity in the World's two biggest economies in August cheered players as it ended the grim run of US economic data over the Summer. Global stock markets surged as investors took global surveys of manufacturing output to show that the world economy was still recovering rapidly and the chances of a double dip recession had receded.
Rhode Island is known for it's manufacturing of goods. Sadly though, Rhode Island has been seriously effected by this double dip recession and the residents of Rhode Island are tired of it.
One of the only ways in which Rhode Island can recover from it's critical condition is to bring manufacturing companies back to Rhode Island. Not only will this create jobs for the over 68,300 people claiming unemployment benefits, it will stimulate local business buying, home purchases, and tourism.
Recently, I had the privilege of meeting and listening to Lynn Tilton, CEO of Patriarch Partners. After doing some research, my views on manufacturing has changed forever.
Only by bringing in more manufacturing companies with incentive programs & tax benefits, will Rhode Island survive.
Lynn Tilton recently wrote an article that is getting worldwide attention, "We Need Policy Not Politics". Everyone should read this, especially those at the top of the food chain. In part it said, "Only changes in policy will ignite job creation and fuel a sustainable economic turnaround. The urgency of transformation is more about principle than people. Infrastructure issues demand appropriate actions. We must make a commitment to manufacturing and modify policies to support that pledge. Many foreign countries subsidize raw materials by as much as 30% - this equates to dumping, not free trade. Such truth belies America's inability to compete in the global economy. We close our eyes to what we choose not to see. Immediate changes to policy could put Americans to work now, and place our country on the fast track to a sustained recovery."
As a resident of Rhode Island, I firmly believe that the leadership in our state is a responsibility shared by all not just those that lead the state in policy making. However, I also believe that corruption and politics hold Rhode Island back. Way back.
Recovery is possible in our state only by attitude change, job creation, emphasis on manufacturing and checking our egos at the door to embrace suggestions, support and much needed help. In addition to that a major internal cleaning.
The question is, "will healthy, ethical policies and incentives be created not only in Rhode Island but other states?"
Follow Kevin DeSoto on Twitter: www.twitter.com/Kevin_DeSoto