Manufacturers need level playing field
Federal tax reform is buzzing on Capitol Hill. The shape it takes is still to be seen, but one thing is clear for Ohioans: Reform that benefits U.S. manufacturing is reform that will benefit all of Ohio’s economy.
With the U.S. continuing to lead the world in manufacturing production and our gross domestic product competitors seeing a decline in working-age population, the opportunity to grow manufacturing in the United States is strong right now.
Experts have said that the Midwest and Ohio are poised to take advantage of that growth and outpace the rest of the U.S. in GDP growth. From my position working on the front lines of industrial development, I see our strongest manufacturers are those which have an international perspective and seek to compete globally. However, export-driven U.S. companies are paying taxes both in the U.S. and abroad. Their foreign competitors often do not. It’s as if there was a penalty for “Made in America” products. Leveling the playing field with fair trade and fair tax policies should be a part of comprehensive federal tax reform.
Ohio has an opportunity to grow its manufacturing base. Now’s the time. Good policy can take our economy from good to great.
Rick Platt President, CEO Heath-Newark-Licking County Port Authority Newark Hilliard