National Association of Manufacturers CEO says tax rules, regulations hamper full recovery

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National Association of Manufacturers

Jay Timmons, president and CEO of the National Association of Manufacturers, was in Charlotte for the last event of NAM's Leadership Engagement Series.

Ken Elkins

Senior Staff Writer- Charlotte Business Journal

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U.S. government rules and regulations are holding back the country from a robust recovery after the Great Recession, says Jay Timmons, president and CEO of the National Association of Manufacturers.

Combined with the world's highest corporate tax rate, those government regulations are getting even more onerous with each session of Congress, he says.

"We create disincentives for manufacturers to invest in this country, to bring money back to this country," he says. "Manufacturers are afraid to invest today."

Since the 2008 recession, 700,000 jobs have been added to the manufacturing work force, but that's far short of the 2.5 million jobs lost in the downturn.

Timmons was in Charlotte last week for the last event of NAM's Leadership Engagement Series, which allowed participants to hear CEOs of the region's top manufacturing companies. Matt Barr, chairman and CEO of Carolina Color Corp., is a member of NAM's board of directors.

Timmons is a frequent speaker at manufacturing-related events around the country. In an Oct. 9 speech at an Iowa Association of Business and Industry luncheon, he outlined NAM's goals for the future of American manufacturing:

"America must be the best place in the world to manufacture, innovate and attract foreign direct investment. Manufacturers in the United States must be the world's leading innovators," he said. "Manufacturers in the United States need expanded access to global markets, enabling them to reach the 95 percent of consumers in international markets. To thrive and grow, manufacturers in the United States must have access to the kind of skilled, highly trained and adaptive work force the 21st century demands."

Ken Elkins covers manufacturing, international business and economic development for the Charlotte Business Journal.