South Carolina took a step toward boosting manufacturing Wednesday when Clemson University and three technical colleges announced a statewide program to train technicians for the automotive and aviation industries.
The program — made possible by $2.3 million from the National Science Foundation — was unveiled through two announcements at South Carolina’s epicenters for the two industries: North Charleston, where Boeing built an aircraft plant; and Greenville, where Clemson operates an automotive research park a few miles from BMW’s expanded U.S. factory and Michelin’s North American headquarters.
At the Greenville event, executives with the area’s biggest manufacturing employers — BMW, Michelin and General Electric — joined Clemson President Jim Barker at the university’s International Center for Automotive Research.
“We are going to build 270,000 BMWs this year in South Carolina, and therefore we need a motivated and highly qualified work force,” Josef Kerscher, president of BMW Manufacturing Co., said during the ceremony.
Kerscher said he is always asked, whenever he is at BMW’s headquarters in Munich, whether the South Carolina plant has enough trained workers.
“And I can promise you we are working hard and smart to do even more business here in South Carolina,” he said.
The new perk for manufacturers arrives at a time when the sector is growing again, holding out hope for eventual relief from South Carolina’s persistent high unemployment.
The state’s manufacturing employment turned the corner in 2010, adding 3,300 jobs for the first net gain in 13 years, according to the U.S. Bureau of Labor Statistics.
This year, South Carolina’s manufacturing employment has fared even better, growing every month through August for a net gain of 8,700 jobs.
And that doesn’t include 3,750 jobs announced for new or expanded plants to make transmissions and tires in Laurens, Aiken and Sumter counties, factories that haven’t come online yet.
Greenville site consultant Mark Sweeney, who helps companies such as Nissan and Boeing find locations for new facilities, said some manufacturers with job openings can’t find the skills they need among the ranks of the unemployed, and the new program should help solve that problem.
My Comments:
After reading the above news I feel that US is coming out of recession slowly and steadily.Rest your call.......Dow closed at 11869 today here which is exhibiting enough strength for me to conclude that USA slow growth will not be too long......
The program — made possible by $2.3 million from the National Science Foundation — was unveiled through two announcements at South Carolina’s epicenters for the two industries: North Charleston, where Boeing built an aircraft plant; and Greenville, where Clemson operates an automotive research park a few miles from BMW’s expanded U.S. factory and Michelin’s North American headquarters.
At the Greenville event, executives with the area’s biggest manufacturing employers — BMW, Michelin and General Electric — joined Clemson President Jim Barker at the university’s International Center for Automotive Research.
“We are going to build 270,000 BMWs this year in South Carolina, and therefore we need a motivated and highly qualified work force,” Josef Kerscher, president of BMW Manufacturing Co., said during the ceremony.
Kerscher said he is always asked, whenever he is at BMW’s headquarters in Munich, whether the South Carolina plant has enough trained workers.
“And I can promise you we are working hard and smart to do even more business here in South Carolina,” he said.
The new perk for manufacturers arrives at a time when the sector is growing again, holding out hope for eventual relief from South Carolina’s persistent high unemployment.
The state’s manufacturing employment turned the corner in 2010, adding 3,300 jobs for the first net gain in 13 years, according to the U.S. Bureau of Labor Statistics.
This year, South Carolina’s manufacturing employment has fared even better, growing every month through August for a net gain of 8,700 jobs.
And that doesn’t include 3,750 jobs announced for new or expanded plants to make transmissions and tires in Laurens, Aiken and Sumter counties, factories that haven’t come online yet.
Greenville site consultant Mark Sweeney, who helps companies such as Nissan and Boeing find locations for new facilities, said some manufacturers with job openings can’t find the skills they need among the ranks of the unemployed, and the new program should help solve that problem.
My Comments:
After reading the above news I feel that US is coming out of recession slowly and steadily.Rest your call.......Dow closed at 11869 today here which is exhibiting enough strength for me to conclude that USA slow growth will not be too long......
Dear Rajeev,
ReplyDeleteYesterday Indian govt announced the manufacturing sector policy. Govt will take some steps to boost manufacturing from 16% to 25% contribution to our GDP. I have few questions about this. I will be thankful to you if you can throw some light on this.
1. Is it too early to jump to a conclusion or is this the right time to start searching for the right stocks in this sector.
2. I have no idea as to how well the govt will be able to implement this policy. Can you suggest some industries(stocks) in manufacturing sector that are insulated from policy delays and are capable of taking advantage of opportunity.
3. Is this policy really going to have any positive impact on this sector, or am I unnecessarily getting bullish.
Thanks and regards,
Sukanya.
Hi Sukanya,
ReplyDeleteIf govt has annouced new policy then it will work.
Second, Manuf ind as a whole is very very big.
We can include Auto, Eng etc.
If the rates goes down then Auto and Bank should look up and hence I have one new stock in my mind which is Yuken India.I also like Eimco Elecon which is a wonderful Eng Co and giving excellent results where promoters hold 74% stake.
It has come down from 400 to 173 and I feel it is a great price to look at.Buy both in SIP.I like both of them and I am bullish on them.
Eq of Eimco is just 5.3 cr and Yuken is 3 cr.
Ofcourse this is my view and I feel that you also check at your end and if u feel like buying , buy it.....
Best thing in both of them is both are 10 paidup....
Thanks a lot Rajeev for your reply and the suggestions. I will definitely look at the given stocks and start a SIP.
ReplyDeleteThanks again.