The Association For Manufacturing Technology Applauds Enactment of Small Business Jobs Bill
Va. … AMT – The
Association For Manufacturing Technology supports President Obama’s signing of the Small Business
Jobs Act into law today.
Douglas K. Woods, President of AMT, said, “This single piece
of legislation includes numerous provisions that will build on the momentum we created
at the International Manufacturing Technology Show (IMTS) to spur manufacturers
across the country to make the investments necessary to improve their
competitiveness. Two more years of
increased expensing together with another year of bonus depreciation is a major
victory for companies who were inspired by what they saw at IMTS.”
IMTS, which is an AMT- sponsored event that was held the
first half of September in Chicago, is one of the largest showcases of
manufacturing technology in the world, and this year featured the newest
products from more than 1,700 of the world’s manufacturing technology
providers. More than 82,000 attendees
from over 110 countries came to see and buy next generation manufacturing
technology products and to learn about the emerging technologies that will
shape the future.
“It’s been a difficult two years,” explained Woods. “AMT
members, as well as the broader manufacturing community, are skeptical about
the future, especially given proposals in Washington to increase taxes and add costly
regulations on their businesses. Access to credit is still a problem, and the
global market heavily favors our foreign competitors.”
“It’s no wonder companies have been slow to invest in their
businesses,” said Woods. “This new law has
potential to help small manufacturers gather some steam heading into next year,
because 2011 may prove to be another tough year.”
The Manufacturing Mandate, put forth by AMT, calls for a
long-term national strategy to revitalize the U.S. manufacturing sector,
involving all stakeholders – governments, schools, business leaders and their
“The federal government plays an important role by
implementing policies that encourage innovation and strengthen U.S.
competitiveness,” Woods noted. “The temporary
tax incentives included in this law will help release the pent-up demand for
new products and the export promotion support will enable more companies to
explore new markets. Manufacturing
technology suppliers are hopeful that the law’s lending initiatives will help
loosen the credit logjam still gripping most of the industry.” Woods urged policy makers to pursue a
strategy with a long-term vision and consider the effects their proposals have
on this country’s manufacturing sector.
“High taxes and over-regulation are killing innovation in
manufacturing,” Woods said. “The United States now lags behind our
foreign counterparts in industries we once dominated. This new small business law provides
temporary relief and assistance at a time when they’re desperately needed, but
our elected leaders need to come together on a long-term plan that puts
manufacturing at the top our national agenda if we are to regain our
details on the Small Business Jobs Act
in 1902 as the National Machine Tool Builders' Association, AMT supports and
promotes the U.S.
manufacturing technology industry. The
association provides U.S.
builders of manufacturing systems with the latest information on technical
developments, trade and marketing opportunities, and economic issues. It also gathers and disseminates information
about world markets, promotes its members' products in those markets, and acts
as a representative on manufacturing technology matters to governments and
trade organizations throughout the world.