Wishing You Success This Month....
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Our job here at RIMA is to give you, the manufacturers, the ability and resources to continue and compete to grow among others in the industry. We are excited to share a number of upcoming events and stories for you!
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Moody's Forecast Predicts 2.7% Growth in 2018
The Hill (2/27 Needham) reports that "expectations for US growth this year are getting a boost from the newly implemented tax cuts," according to an analysis this month by Moody's Investors Service. The analysis finds that "the economy is expected to expand at a 2.7 percent pace in 2018, an increase from a November forecast of 2.3 percent," adding that "the forecast also expects faster global economic growth, which will peak in 2018, driven by improvement in advanced economies." Click on the image to learn more!
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Upcoming Events!
May 9, 2018
June 4, 2018
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Top Stories of the Month...
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The manufacturing sector is quite alarmed by President Trump's proposed tariff of 25% on imported steel and 10% on aluminium. The auto companies, in particular, have made it known the increase will have adverse effects on the industry as higher prices will push down demand and eventually could lead to job loss. Other sector such as metal-forming, appliance and aluminium are not in agreement that tariffs will solve the problem.
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- A goal of 5 million apprenticeships in the next five years is very lofty considering last year 505,000 people held apprenticeships
- The goal was set in March of 2017 when Marc Benioff, Salesforce CEO, asked President Trump to create these opportunities.
- Although the U.S. might be on the right path, there is a long way to go from 505,000 people that help apprenticeships last year (Only 35% of which were in manufacturing).
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On June 7, 2018, the NK Chamber along with the Business Network for Offshore Wind will be hosting a "Rhode Island Supply Chain Wind Energy Symposium" at Anvil International in North Kingstown that will introduce and connect small manufacturers and trade businesses to not only the career pathways system opportunities, but also the broad range of materials, equipment, and services within wind energy industry that will be in demand over the next ten years of offshore development
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Tax Reform "Rising In Popularity"
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The Washington Post reports an article on the implementation of tax reform, writing that "the new law is rising in popularity as businesses in Indiana and elsewhere trumpet bonuses and bigger paychecks."
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Small Businesses Stand to Benefit from Tax Reform
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PBS NewsHour reports that since the passage of tax reform late last year, "large corporations have made headlines by giving bonuses to employees and raising wages" however, "much less attention has been paid to small businesses, even though experts believe they stand to benefit significantly from the new tax law"
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National Association of Manufacturers News
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Manufacturing and construction are expanding and ready to take on infrastructure package
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NAM' Timmons, ACGA's Sandherr: Manufacturing, Construction Firms Have "Positive Views" About The Future, Call for Infrastructure Investment
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- Financial market volatility has picked up notably in the past few weeks, with equity and bond markets adjusting to stronger economic growth and increased inflationary expectations and to the impacts that this will have on future monetary policy
- There have been improvements in the outlook in manufacturing and other sectors, with healthy gains in demand, production and employment.
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The Manufacturing Institute Recognizes 130 Women in Manufacturing STEP Award
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- In a press release, the Manufacturing Institute (3/1) announced on Thursday that "it will recognize 130 women with the Women in Manufacturing STEP (Science, Technology, Engineering and Production) Ahead Award at a Washington, D.C., ceremony on April 10."
- The Institute "launched the STEP Ahead initiative in 2012 to bolster manufacturing's attractiveness to women and to help improve the perception of careers in the industry among younger generations," as part of its mission to encourage diversity and "empower women leaders."
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This Month's Member in the Spotlight is...
National Marker Company
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- Since 1934 National Marker Company has been a proud to manufacture the highest quality safety and identification products – signs, tags and labels -in RI. Our goal is to Deliver Information at the Speed of Sign, making the world a little bit safer.
- National Marker Company is a leader in the identification industry, with ongoing investment in new equipment, technology and processes. Printing capacity has double over the last 18 months with investment, and the development of SignMuscle, pushes us ahead of our competition.
- With a committed national sales force, we serve customers in all industries with a focus on: general manufacturing, construction, food processing, oil and gas
- Our vision of good business thrives on giving back to our community, our employees, and the environment—it’s the cornerstone of our success. We are the #1 fundraiser for The Autism Project, and with our solar panels we produce over 40% of our energy
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Events To Get Involved In This Month
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National Marker Company Pacers
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- National Marker is a proud supporter of The Autism Project, a local RI foundation that provides support, training, and programming to children and adults with an Autism Spectrum Disorder, their families, and those who work with them. As an organization, we have many friends and family members who are touched by Autism, and it is our mission to do what we can to help improve the lives of people with an Autism Spectrum Disorder.
- National Marker is so excited to participate in the 16th annual Image Walk and Family Fun Day for Autism on Sunday, April 29th! Due to your immense generosity, we have raised over $75,000 in the last five years for this amazing cause. NMC was the number one fundraiser in the state of RI for the second year in a row, raising $24,000! This year, we hope to surpass that; will you help us exceed our goal of $25,000?
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Interested in Membership?
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Why Join RIMA?
We Advocate for Manufacturing
- Let RIMA keep you informed on the local, state and federal levels critical issues
- Ensure your concerns are being raised with government leaders of our state.
We Promote Economic Improvement
- We offer networking opportunities to our members
- We promote and support a more competitive business climate.
- We collaborate with likeminded organizational partners to amplify our cross-industry interests throughout the state
We Help Solve Problems
- A clearinghouse of information :
- We can connect you with local suppliers and potential customers
- We can elevate your legislative and regulatory concerns to public officials
We Support Education and Workforce Development
- RIMA‘s partner, We Make RI, develops career education programs to help companies identify and secure talented workers through certified apprentice programs
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