Manufacturers’ Roundtable Held in Chester County
Monday, April 15th 2013
CCEDC and the Chester County Chamber of Business and Industry jointly hosted a Manufacturers’ Roundtable in April with Congressman Gerlach. This event focused on the need to make America’s manufacturing sector more competitive with the world. A key stumbling block for American manufacturers is the high corporate tax structure – the highest in the world. Gerlach’s work as Chairman of the Ways & Means Manufacturing Group has focused on finding out what domestic manufacturers need in tax policy reform to make them more competitive and keep key incentives available to support research and development producing the innovative products and advances that are the hallmark of American manufacturing.
A lively discussion between various Chester County manufacturing companies covered a range of impacts of changes to tax structure and the difficulties of having plants abroad. The need to address this tax structure stems from the fact that over $2 trillion remains abroad and will not come back to the States until the rates are lower. This is crucial investment money that would spur more economic growth. The Congressman urged those in attendance to review the proposals and submit their comments to the Manufacturing Tax Reform Working Group.
At the closing of the meeting CCEDC President and CEO, Gary Smith announced the formation of a Manufacturers Alliance of Chester County. This working group is currently seeking manufacturers to serve on its board. They will meet regularly to discuss the issues of manufacturers in the County.