Overall, confidence in the equipment finance market is 54.0, an easing from the March index of 58.0, reflecting industry participants’ continuing concerns over the economy and the impact of federal policies on capital expenditures. 6.3 percent of executives responding said they believe business conditions will improve over the next four months, down from 21.9 percent in March.
Legislation giving the Boeing Co. $120 million in incentives for their expansion plans in South Carolina is one vote away from reaching the governor's desk. The House voted 115-2 Wednesday to approve the bill. Another vote would send it to Gov. Nikki Haley, who is sure to sign it. The Senate approved the measure last week.
A number of macroeconomic factors seem to have tipped the balance in favor of domestic manufacturing. The return of a few companies’ manufacturing is encouraging. But the big question is: To what extent is the United States capable of taking back manufacturing on a significant scale? The challenges are great.
According to PwC’s Q1 2013 Manufacturing Barometer, 55 percent of respondents expressed optimism about the 12-month outlook for the U.S. economy during the first quarter of 2013, up seven points from the fourth quarter, and only five percent were pessimistic.
Airbus Americas Engineering says it is planning to expand into a third space in downtown Wichita. The company announced Monday it has already hired more people than had been expected after its last expansion. The firm's vice president of engineering, John O'Leary, says it has hired 150 people, more than the 100 it had planned to hire when it expanded in 2012.
Without a ready inventory of workers to support a competitive manufacturing base, America’s future will always be vulnerable to outside economic threats. History reminds us of our true potential, when in 1945, 50 percent of the products produced in the world were "Made in USA." Today that number has trended down to 22 percent.
The survey’s composite index is a leading indicator for the manufacturing sector. The March 2013 composite index advanced to 56 from 55 in the December 2012 survey. That breaks a string of 10 consecutive quarterly declines. The index remains above the threshold of 50 for the 14th straight quarter, the dividing line that separates contraction and expansion.
Drug maker Bristol-Myers Squibb Co. has announced a $250 million expansion of its central Massachusetts manufacturing complex that will eventually employ an additional 350 workers. The expansion announced Thursday will add space for developing biotechnology drugs, called biologics, and for manufacturing those products for clinical trials.
The following represent some major or interesting mergers and acquisition (M&A) activity during late March and early April, with news from Klein Tools buying its way into Brazil, Elgin Fastener Group purchasing a Las Vegas-based manufacturer of fasteners and more.
The Information Technology and Innovation Foundation (ITIF) praised President Barack Obama for focusing on long term investments in research, development and innovation in his annual budget message to Congress. The budget proposal includes a $1 billion appropriation for the creation of the National Network for Manufacturing Innovation.
The Kansas City Area Development Council announced today that Adrian Steel is expanding into Kansas City to supply parts for Ford automobiles with a new 32,000 square-foot facility. The Adrian, Mich.-based company plants on leasing 11 acres of land within the Hunt Midwest Business Center with an investment of $4.7 million.
Boeing Co. is expanding in South Carolina and will invest another $1 billion, creating 2,000 new jobs during the next eight years, the aerospace giant announced Tuesday. Company spokeswoman Candy Eslinger said the company that operates a 787 assembly plant in North Charleston will expand its operations.
“The drop in the PMI expansion is a normal variation,” says Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management Business Survey Committee. “If you look at the first three months of 2013 combined, we’re on a very good track. This is perhaps a little bit of a pause."
The drugmaker also plans to spend about $80 million on some other projects, including a product inspection center. A company spokesman said the city's metropolitan development commission must approve tax abatements before construction can start.
A survey shows U.S. manufacturing activity expanded more slowly in March than February, held back by weaker growth in production and new orders. The one bright sign in the report was that factories hired at a faster pace. The Institute for Supply Management says its index of factory activity slipped to 51.3 percent.
The 129-year-old manufacturer hopes the harder bat, which is less likely to splinter, and more modern logo will help the family-owned company stay relevant in the sporting good supply market and ahead of competitors in luring younger ballplayers to its products.
China's economic growth rebounded to 7.9 percent in the final quarter of last year following its deepest slowdown since the 2008 global crisis. But analysts warn the recovery will be weak and gradual, and growth could be vulnerable if trade or investment weakens.
A food processing and distribution company is planning to expand a plant in western Georgia and looks to create 750 new jobs. Gov. Nathan Deal Thursday announced Koch Foods is planning to expand its plant in Hamilton — about 25 miles northeast of Columbus.
The bleeding was stopped nearly three years ago, as manufacturing jobs have been slowly increasing since then. In fact, over 14,000 manufacturing jobs were added in February alone and a total of around 500,000 have been generated since 2010.
The Danish maker of colorful plastic building blocks for children said it's investing at least $130 million in the new plant, which will be fully operational by 2017. The factory will be located in Jiaxing, 67 miles southwest of Shanghai.
MAPI forecasts that industrial production will increase 2.2 percent in 2013, an increase from 2.0 percent in the December 2012 forecast. A further pickup is likely in 2014, with growth anticipated to be 3.6 percent, above the 3.2 percent in the previous report.
UGN has six manufacturing facilities across the United States producing superior acoustic, interior trim, and thermal management products for North American and Japanese automotive manufacturers, and no U.S. jobs will be lost because of the recent expansion.
General Motors has begun building a new paint shop at its Fairfax assembly plant in Kansas City, Kan. The automaker says in a release that construction began Tuesday on the 450,000-square-foot paint shop, which is part of a $600 million investment in the plant. Construction is expected to take about two years.
“I want more New Hampshire businesses to have the kind of success that Hypertherm has had in entering new markets in order to make New Hampshire a leader in selling our services and goods around the world,” New Hampshire Governor Maggie Hassan said.
Black & Denim, based out of Tampa, Florida, is working its way into what has long been deemed a dead American industry — apparel — through a uniquely 21st Century business plan.