October is Manufacturing Month in America, an annual reminder that the U.S. economy only goes as far as manufacturers take it. No matter who wins on Election Day, the ultimate victor must be a pro-manufacturing policy agenda that supports American companies making American products.

State by state, the impact of manufacturing cannot be overstated. In my home state of Maine alone, there are hundreds of manufacturing companies that employ tens of thousands of workers, accounting for billions of dollars in economic output – 10% of the state economy. Nationwide, there are more than 244,000 manufacturers employing about 13 million workers, adding nearly $3 trillion in value to the U.S. economy. That is roughly equivalent to the United Kingdom’s entire economy.

The success of manufacturing is felt on a very human level. In small towns like Guilford and Pittsfield, Maine, where Puritan Medical Products is headquartered and from where it operates, the manufacturing economy represents a lifeblood to hard workers – as well as their families and local communities – who would otherwise struggle to find constant employment and financial security. Beyond economic metrics, manufacturing ties local communities together and provides a sense of vitality to neighborhoods that wouldn’t otherwise have it. Especially in small towns and rural areas, life would not be the same without that factory, warehouse or distribution center down the road.

Local innovation is quintessentially American, and Americans need not look any further for life-changing goods than our own domestic economy. The COVID-19 pandemic proved – all too vividly – that American companies with American-made products can literally save lives. During the pandemic, Puritan emerged as North America’s largest manufacturer of COVID-19 testing swabs, producing tens of millions of swabs in a matter of months.

But, years since the coronavirus first came to our shores, the need for “Made in the USA” manufacturing has not diminished. With the resurgence of COVID, not to mention influenza, sexually transmitted diseases, and an increased focus on food safety, products like testing swabs are just as important as ever for the sake of public health.

Even beyond the life science space, U.S. manufacturers are simultaneously meeting unprecedented demand and reducing our longstanding overreliance on global competitors like China. Take U.S. semiconductor manufacturing capacity, which is projected to triple by 2032 – the largest growth rate in the world. Despite competition from China, India and other countries, American companies will be able to produce the chips that American consumers so desperately need for their cars, smartphones and other necessities of everyday life.

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In 2022, U.S. manufacturing had zero percent market share in the advanced logic space that is also integral to artificial intelligence. Now, in a matter of years, America’s market share will increase to roughly 30 percent of global capacity. This is in large part due to the 2022 CHIPS and Science Act, a testament to the policymaking emphasis on American manufacturing at a time of economic turmoil.

Therein lies a lesson for 2024 and beyond. Whether Democrats or Republicans emerge victorious come Election Day, there needs to be bipartisan consensus on the importance of manufacturing, accompanied with the political will to incentivize and reward companies that are making products domestically. It’s not rocket science: America’s economic independence will depend on American workers at U.S. companies making products domestically and by sourcing parts from right here at home.

Domestic manufacturing helps insulate the U.S. economy from major disruptions to the import-export market, made all too clear by the recent dock worker and longshoremen strikes at numerous East Coast ports. Costing the economy as much as $5 billion per day, the strikes were particularly pertinent to foreign companies doing business in the United States and domestic companies sourcing goods from overseas, but “Made in the USA” manufacturers can weather such storms without our supply chains (inbound or outbound) being negatively affected.

U.S. policymakers need to support the companies that don’t skip steps in the manufacturing process or rely on foreign suppliers to manufacture goods that are “made in America,” but not really. America’s global competitors go out of their way to favor domestic industries over foreign players, and we should do the same.

Not only are the manufactured goods vitally important, but manufacturing employment itself is a deterrent to the adverse effects of persistent inflation, stock market volatility and broader geopolitical uncertainty. Given that U.S. manufacturing activity has contracted for six straight months, a national resurgence in pro-manufacturing policymaking can get the U.S. economy – and tens of millions of Americans – on much stronger footing. At companies like Puritan, an increased investment in hiring is surely making a difference.

There is nothing partisan about being pro-American, especially during this month of manufacturing. It is important to celebrate U.S. manufacturers, but celebration alone – without public policy support – isn’t good enough. Whoever wins the White House would be wise to remember that.

 

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