Gillibrand wants high tech grants program
Manufacturing accounts for approximately 11 percent of the country’s GDP and employs an estimated 11 million Americans. As America loses manufacturing operations, it also loses the innovation this sector provides to the overall economy, accounting for 70 percent research and development conducted in this country. Investments in manufacturing spur regional job creation. In fact, every dollar invested in manufacturing operations directly fosters $1.40 in economic activity, and every newly created manufacturing job creates 2.5 other new jobs across the local economy.
Manufacturing is key to maintaining America’s competitive edge in new and emerging industries, providing high-paying jobs right here at home and an economic boost to local communities. In particular, tremendous opportunities exist for American manufacturing to tap into the growing $500 billion global market for clean technology.
High-tech and advanced manufacturing are sectors within the manufacturing industry that are growing, according to a 2010 report on manufacturing in New York from the Office of the State Comptroller, and have major potential to create more new jobs.