Gov. Gretchen Whitmer and the Michigan Department of Labor and Economic Opportunity (LEO) awarded $2.5 million in Michigan Industry Cluster Approach 3.0 (MICA 3.0) grants to business groups statewide to address labor shortages.
“These grants are putting Michiganders first by helping innovative employers in high-demand industries address talent shortages across Michigan,” Whitmer said in a statement. “Together, we can continue leading the future of agriculture, construction, IT, manufacturing, mobility, and so much more as we usher in a new era of prosperity for our families, communities, and small businesses.” Read More
The global chip shortage is beginning to impact consumers, driving up prices of smartphones, vehicles and personal electronics as manufacturers struggle to keep up with rising demand.
“We’re seeing 5% to 10% price increases right now,” Glen O’Donnell, vice president and research director at Forrester, told the Daily Caller News Foundation. “They will increase more as this issue drags on.”
Semiconductors, the internal components essential to the functioning of almost every electronic device, have been in short supply since early 2020 due to high consumer demand of mobile electronics cloud services, and other products that require computer chips, according to O’Donnell. The COVID-19 pandemic exacerbated the problem by stalling semiconductor production and disrupting supply chains, with demand for consumer electronics only skyrocketing due to more people working from home. Read More
Wednesday morning on the John Fredericks Radio Show, host Fredericks welcomed the 45th President of the United States, Donald J. Trump to the line to discuss Intel agencies, Taiwan, and election integrity. Read More
Georgia officials have announced that economic development projects throughout the state during fiscal year 2021 have delivered record-setting jobs and investments. This, according to a press release that Georgia Gov. Brian Kemp and officials with the Georgia Department of Economic Development (GDEcD) published this week. Read More
KORE Power, Inc. announced on July 29 that they are building the first lithium-ion battery manufacturing facility owned entirely by a U.S. company in Maricopa County, bringing 3,000 jobs to the Grand Canyon state.
The one million square foot KOREPlex manufacturing facility 40 miles west of Phoenix in Buckeye will support up to 12 gigawatt-hours (GWh) of battery cell production. Once operational, the facility will produce enough power capacity for 3.2 million homes each year, the company said. Read More
According to an April-June McKinsey Global Survey poll of 60 senior supply-chain executives from across the nation, 73% encountered a shortage of suppliers – not just supplies – and 75% faced production/distribution shortfalls during the 2020 height of the COVID-19 pandemic.
Florida’s 21,000 manufacturers – not to mention farmers, restauranteurs, hoteliers, retailers – were also affected by pandemic-induced supply disruptions, as they were by Hurricanes Irma in 2017 and Michael in 2018.
To mitigate disruption for the state’s $56 billion manufacturing industry, which employs about 400,000 Floridians, the Associated Industries of Florida (AIF), Space Florida and FloridaMakes have formed Connex Florida, an online database to link manufacturers connect with prospective suppliers and develop business opportunities. Read More
Peloton Interactive announced plans to build its first U.S. factory in Ohio, creating more than 2,000 jobs and investing more than $400 million in the state-of-the-art factory.
The new facility, in Troy Township between Toledo and Bowling Green, will be named Peloton Output Park and will produce Peloton Bike, Bike+ and Peloton Tread starting in 2023. It will employee 2,174 people and generate $138 million in new payroll.
The state approved a 2.301%, 15-year job creation tax credit for the company. Read More
Economists expect inflation to “accelerate strongly” in the coming weeks and months, but said consumer prices would eventually moderate.
The consumer price index (CPI), a common measure for inflation, is expected to rise 2.8% in 2021 and 2.3% in 2022 compared to the 1.2% increase that occurred in 2020, according to economists surveyed by the National Association for Business Economics (NABE).
The projection, released Monday, reflected the Federal Reserve consensus that inflation will heat up by the end of the year before cooling down as the economic recovery continues. Read More
A Democrat member of Congress from Ohio admitted in an interview published Tuesday that her party is out of touch with working class Americans.
“They just can’t understand,” Rep. Marcy Kaptur (D-OH-09) told The Hill. “They can’t understand a family that sticks together because that’s what they have. Their loved ones are what they have, their little town, their home, as humble as it is — that’s what they have. Respect it. It was so insensitive.” Read More
Ohio can receive a $5 million grant to improve manufacturing and train workers after the U.S. Department of Defense designated the state as a Defense Manufacturing Community, Gov. Mike DeWine and Lt. Gov. Jon Husted announced in a news release. Read More
An annual survey of Minnesota’s manufacturing sector shows respondents anticipate stable or improved economic conditions in 2020. Read More
Machine shop training in public high schools has dwindled nationally either because of a lack of funding or no funding at all. So in 2006, instructor Craig Cegielski approached the Eleva-Strum School Board in Strum, Wisconsin with an odd request. Rather than asking for money, Cegielski instead requested permission to launch an in-school manufacturing business. Read More
Fiat Chrysler proposed a 50-50 percent merger Monday with Renault, a union that would create the world’s third biggest automaker. The merger, if it happens, would vault the new company, with annual sales of 8.7 million vehicles, into a position ahead of General Motors and behind only Volkswagen and… Read More
The last manufacturing orders left for the rapidly shuttering Lordstown Auto Plant finished up on April 5. The project – metal stamping replacement parts for the Chevy Cruze – was slated to last until June, ensuring work for those few employees still not laid off. With the job wrapping up… Read More
by Robert Hughes The Manufacturing Purchasing Managers’ Index from the Institute for Supply Management registered a 54.2 percent reading in February, down from 56.6 in January (see top chart). Despite the pullback, the index remains well above neutral, suggesting continued expansion for the manufacturing sector. According to the Institute… Read More
2018 was one of the best economic years for America in decades. The coup de grâce came in December with a jobs report that shattered the most generous expectations by more than double. 312,000 new jobs were added to the US economy. While unemployment rose slightly, this was primarily due to… Read More
Thursday, December 20th, Tesla CEO, Elon Musk, gave his first public response to Governor John Kasich’s multiple attempts to reach him in the hope of saving the Lordstown Assembly complex in Warren, Ohio. On November 26th, General Motors announced that the 6.2 million square foot auto manufacturing facility, along with… Read More
Reuters Anglo American unit De Beers is launching a company to sell laboratory-produced diamonds for jewelry in a departure from its century-old business model of promoting natural stones. Real diamonds created over thousands of years remain the priority, but De Beers is responding to customer demand for more affordable… Read More
by Mark A. Skoda The recent announcement that President Trump decided to implement steel and aluminum tariffs was met with both condemnation and adulation. Looking at this action as a one-off is the absolutely wrong way to evaluate Trump’s decisions. However, as a broader strategy for job preservation and… Read More
President Trump said Thursday that he plans to slap tariffs on steel and aluminum, bucking senior trade advisers and some industry leaders who warn Americans will pay the price. The president insisted that tariffs were needed to combat dumping of foreign steel and aluminum into the U.S. market. Read More
Carbon fiber is the Superman of materials. Five times stronger than steel and a fraction of the weight, it is used in everything from tennis rackets to golf clubs to bicycles to wind turbine blades to passenger airplanes to Formula One race cars. There’s just one catch: Carbon fiber is… Read More
Emirates Airlines on Sunday agreed to purchase 40 Boeing 787-10 Dreamliners for $15.1 billion at list price, its chief Sheikh Ahmed bin Saeed Al-Maktoum said. Emirates is already the world’s largest client for Boeing’s 777, with 165 jets and another 164 on firm order. Sheikh Ahmed said the deal raises… Read More