The Council's 2010 Global Manufacturing Competitiveness Index indicated that the U.S. ranks fourth in global competitiveness behind China, India, and South Korea, and is expected to fall to number five, much due to outdated manufacturing policies and a lack of investment. This year, China became the global leader in manufacturing output by dollar amount, ending America's 110 year run as the world's top manufacturer.
"America's ability to innovate is dependent upon its ability to maintain a robust manufacturing sector and a highly skilled workforce," said Council President & CEO Deborah Wince-Smith. "A strong industrial base is vital to creating a vibrant manufacturing ecosystem that creates new jobs and new industries to grow the U.S. economy."
The report is the third in a three-part Ignite series to be released by the Council's U.S. Manufacturing Competitiveness Initiative (USMCI). The initiative drew insights from America's leading CEOs in the first report, and will feature labor leaders in the third installment in the series. The USMCI is focused on developing a comprehensive National Manufacturing Strategy to deliver to Congress and the Administration at a national summit in December 2011.
The report's findings were unveiled by the Council's leadership at the Detroit Economic Club, and reflect the views of America's premier research university presidents, including Rensselaer Polytechnic Institute's Dr. Shirley Ann Jackson and Massachusetts Institute of Technology's Dr. Susan Hockfield. Directors of five national laboratories were also surveyed for the report.
