RIMA News September- 2018
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Wishing You Success This Month...
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Our job here at RIMA is to give you, the manufacturers, the ability and resources to continue and compete and grow among others in the industry. We are excited to share a number of upcoming events and stories with you!
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PLEASE VOTE ON PRIMARY DAY
WEDNESDAY SEPTEMBER 12TH
WE URGE YOU TO SUPPORT DAN McKEE FOR LT. GOVERNOR!
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Upcoming Events!
RIMA announces a collaborating with OSHA for a discussion on September 11th from 8 am to 9:30 am
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Manufacturing Week Kickoff is October 3rd:
Join us at the Museum of Work and Culture from 5-7pm in Woonsocket
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National Association of Manufacturers News...
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NAM Welcomes Senate Passage of Perkins CTE Reauthorization to Strenghten Technical Training for Manufacturing Workers
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- In a column for Shopfloor (7/24), NAM Director of Tax and Domestic Economic Policy Charles Crain writes that on Monday "the US Senate approved the Strengthening Career and Technical Education for the 21st Century Act by bipartisan voice vote," a bill that would "reauthorize the Carl D. Perkins Career and Technical Education (CTE) Act, which was last reauthorized in 2006."
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- Chief Executive (8/1, Buss) reports an interview with Emerson CEO and NAM Board of Directors Chairman David Farr, writing that "the Trump boom and tax cuts are working out for American manufacturers exactly in the way that factory CEOs hoped, planned - and worked hard - for, according to the CEO of the most influential and important association of manufacturers in the country."
- In response to tax reform, the article writes that Farr says "manufacturing CEOs are returning the favor by building and expanding factories, hiring more workers and raising wages and benefits, all of which is resulting in a virtuous cycle that will continue to fuel the US economy for some time." Farr is further quoted saying, "In our most recent survey of members, 86 percent of them planned to increase their investments. And 77 percent planned to increase hiring. Also 72 percent already were planning to increase wages and benefits.
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- While the global economy has expanded modestly, many markets continue to soften.The J.P. Morgan Global Manufacturing PMI edged down 53.0 in June to 52.7 in July, the lowest level in 12 months. The headline data have trended slightly lower since reaching nearly a seven-year high in December (54.5), but the data remain encouraging overall, reflecting progress over the past few years
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- Economic activity in the manufacturing sector remained solid in July. Manufacturers added 37,000 new jobs last month, with large gains in transportation equipment, which added 13,000 new jobs. The manufacturing sector has enjoyed a full year of continued robust employment growth with about 327,000 new jobs added in the past 12 months. Tax reform along with sustained growth in global markets are stimulating manufacturing activity and expansion plans
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Manufacturers Score Big Win: President Signs Perkins CTE Act into Law
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- Manufacturers secured a major victory this week when President Donald Trump signed into law a bill that reauthorizes the Carl D. Perkins Career and Technical Education (CTE) Act.
- The Perkins CTE reauthorization bill aligns career and technical education with the existing workforce system, promotes work-based learning and strengthens the use of industry-recognized credential
- The NAM strongly supported Perkins CTE reauthorization and was laser-focused in getting this bill to the finish line. The NAM will continue to advocate bold solutions that move manufacturers' workforce agenda forward and grow modern manufacturing.
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Small Details, Big Results for New CNC Machines
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- The opportunity to see new CNC machines, and new design details of established machine designs, is one of the major draws for thousands of machinists and manufacturers destined for IMTS 2018. Designers and builders of turning, grinding, and other manufacturing technologies save their latest innovations for the big stage
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Manufacturing Policy News- Treasury Proposes New Tax Rules for Pass-Through Businesses
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- Reuters (8/8, Morgan) reports that on Wednesday the Treasury Department "proposed tax regulations for a new 20 percent income tax deduction for owners of businesses organized as pass-through entities, including rules to prevent the measure from becoming a tax loophole for wealthy Americans"
- The newly-proposed rules "are intended to provide everything pass-through owners need to comply with the Republican Tax Cuts and Jobs Act, a sweeping overhaul of the US tax code that President Donald Trump signed into law in December"
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Industry Week Manufacturing News
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Industry Week Manufacturing Technology
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- On July 31, President Trump signed legislation overhauling the nation's career and technical education law.
- Passage of H.R. 2353, the Strengthening Career and Technical Education for the 21st Century Act, reauthorizes through 2024 the Carl D. Perkins Career and Technical Education Act, which is the principal source of U.S. federal funding for the improvement of secondary and postsecondary career and technical education (CTE) programs.
- The reauthorization gradually increases annual funding from $1.2 to $1.3 billion over six years
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- Marilyn HewHewson,Lockheed Martin's CEO, pledged on July 19 that the company will create 8,000 new apprenticeship opportunities and invest $5 million in vocational and trade programs over the next five years
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- Orders rose for machinery, computers and electronic products and motor vehicles and parts last month, according to the report. The data, representing the first results since the U.S. and China imposed tariffs on each other’s goods in early July, signal that business investment remains intact even as President Donald Trump widens a trade war to a growing range of products from China
- The drop in overall durable-goods orders reflects bookings for aircraft and parts, typically a volatile category. Civilian airplane orders fell 35.4% in July, while the military side dropped 34.6%. Boeing Co. previously reported that the plane-maker received 30 orders in July, down from 233 in June
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This Month's Member in the Spotlight...
Mahr
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Interested in Membership?
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We Advocate for Manufacturing
- Let RIMA keep you informed on the local, state and federal levels critical issues
- Ensure your concerns are being raised with government leaders of our state
We Promote Economic Improvement
- We offer networking opportunities to our members
- We promote and support a more competitive business climate
- We collaborate with like-minded organizational partners to amplify our cross-industry interests throughout the state
We Help Solve Problems
- A clearinghouse of information:
- We connect you with local suppliers and potential customers
- We can elevate your legislation and regulatory concerns to public officials
We Support Education and Workforce Development
- RIMA's partner, We Make RI, develops career, education programs to help companies identify and secure talented workers through certified apprentice programs
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