Secretary of Commerce Penny Pritzker opening the International Technology Manufacturing Show on September 12, 2016.
Supporting American Manufacturers of Today and Tomorrow
Ken Hyatt is the Acting Under Secretary of Commerce for International Trade.
For the past five years, we have dedicated one day in October to acknowledge the importance and success of American manufacturers—Manufacturing Day. And on the 5th annual Manufacturing Day, we were reminded of exactly why manufacturing has been a driver of growth and prosperity in years past, and why it will be a driver in the future as well.
First and foremost, Manufacturing Day gave us an opportunity to remember that 828,000 more Americans are working in manufacturing today than there were 6 years ago. What this proves is that as our country emerged from the worst economic crisis since the Great Depression to become the strongest economy in the world, an essential driver of that recovery was the resilience of American manufacturers.
Manufacturing Day also reminds us of the day-to-day importance of this sector to the American economy. Every dollar spent in manufacturing adds $1.37 to the economy, and every 100 jobs in a manufacturing facility creates an additional 250 jobs in other sectors. According to the most recent statistics from the U.S. Census Bureau's Annual Survey of Manufacturers, this sector employed 11 million people while generating receipts of $5.9 trillion. The survey also offered a hint of the growth we should see in the future from our tech manufacturing sector. Silicon Valley manufacturing employment increased between 2007 and 2012 by more than 13%.
We were also reminded of what the future of this sector will look like in large part because of the digitization of manufacturing. Technologies like 3D printing, Industrial Internet, Cloud Computing, and Big Data analytics are redefining our country's manufacturing future. This digitization of manufacturing also speaks to the importance of a workforce that is STEM-skilled (science-technology-engineering-math) and standards-savvy. Our country needs workers and c-suite executives to recognize that STEM skills and an understanding of technical standards will not only determine the future of manufacturing, but also the competitiveness of our workforce.
And just as the country can rely on our manufacturing sector, this sector can rely on ITA and the Department of Commerce as a whole. We stand ready to support our manufacturers in a variety of ways.
One way is through the day-to-day work of our Commercial Service. With offices in over 100 U.S. cities and over 75 international markets, we are helping manufacturers export by identifying opportunities, making connections with international partners, and acting as their advocates in global markets. And because our Commercial Service officers work hand-in-hand with State Department officials in embassies throughout the world, our manufacturers can benefit from the global reach of two leading federal agencies.
Then, there are our efforts to make the Trans-Pacific Partnership (TPP) a reality. This agreement has the potential to provide an enormous boost to our manufacturers by eliminating 18,000 tariffs in Pacific Rim markets, including in Asia-Pacific markets where two-thirds of the global middle class will reside by 2030. TPP will also secure the cross-border data flows that will drive digital manufacturing. This is why we are determined to work with Congress to pass TPP before the end of the year -- because of how it will support the American manufacturers of today and tomorrow.
Finally, there is the work we are doing to inform American manufacturers on how they can benefit from TPP. This month, we will offer webinars outlining TPP opportunities in the areas of e-commerce and for small businesses. You can register here.
Thank you to our American manufacturers for all you do to create growth, prosperity and jobs for our country.
Over the past two decades, the global marketplace has become exponentially smaller and more accessible, allowing for US businesses to access new markets that may have not been previously available. Small businesses are getting in on the action, exporting US goods and services overseas, and your business can too! Learn how to export by following Export.gov's Exporting Basics. Watch videos about how to plan and become export-ready, and prepare your company for international success!