I couldn鈥檛 do what I do if I were not enthusiastic about manufacturing. And manufacturing is a strength that all companies can possess 鈥� should they make the commitment 鈥� in ways that marketing, accounting, and other functions cannot match. Its ongoing importance is hard to overestimate.
Consider this: In December, the CEO of Intel resigned due to recent challenges, including the rise of competitors like Nvidia, as well as missing opportunities, like AI.
When such a resignation occurs at a publicly traded company, a statement is released to reassure the market. In the case of Intel, Frank Yeary, the independent chair of the Intel board and then-interim executive chair, stated:
鈥淲hile we have made significant progress in regaining manufacturing competitiveness and building the capabilities to be a world-class foundry, we know that we have much more work to do at the company and are committed to restoring investor confidence.鈥�
Notice that he led with manufacturing. Not chip design. Not some variation on 鈥淚ntel Inside.鈥� Manufacturing.
Intel is investing $100 billion in U.S. manufacturing. In the fall of 2024, the company received $7.86 billion through the U.S. CHIPS and Science Act. It anticipates that these investments will support more than 10,000 internal jobs 鈥� and more beyond. The company anticipates creating some 20,000 construction jobs related to its increased U.S. manufacturing footprint, meaning excavators, bulldozers, and other heavy equipment that must be manufactured.
Intel also estimates the investments in manufacturing will support more than 50,000 indirect jobs. Jobs at places that build material handling, robots, and other automation, for example. Intel鈥檚 spend can be your gain.
In addition to the CHIPS Act, manufacturing will also benefit from the Infrastructure Investment and Jobs Act and the Inflation Reduction Act. The former invests $1.2 trillion in repairing and modernizing the nation鈥檚 infrastructure 鈥� from bridges to water systems, all of which rely on machinery, equipment, and products.
The Inflation Reduction Act directs some $400 billion in federal funding toward clean energy 鈥� electric vehicles, wind turbines, and other technologies. Again, more manufacturing is required in all the things leading to those end products.
Some are concerned that these acts, signed during the Biden administration, could face challenges under the Trump administration. However, these are acts of Congress, not executive orders, and cannot be easily overturned.
Then there is the ongoing direct foreign investment in the United States. According to the most recent data from the U.S. Department of Commerce, 鈥渢he United States is the top destination of foreign direct investment (FDI) globally. Through acquisitions, opening establishments, or expansion of existing ones, foreign firms invested a total of $177 billion in the United States in 2022.鈥�
A big reason companies from around the world are investing in the United States is because they recognize 鈥� due to factors like COVID and low water levels in the Panama Canal 鈥� that supply chains are fragile. This can mean job shops doing more contract manufacturing work to make products locally. Even the construction of warehouses by foreign companies creates manufacturing opportunities. They鈥檒l need everything from sheet metal for the HVAC ducts to lighting fixtures to lift trucks.
And, while not necessarily pleasant to consider, the United States has been supporting extensive military operations in the Middle East and Ukraine with munitions and equipment 鈥� stockpiles that need to be replenished. Manufactured.
Additionally, according to the Center for Strategic and International Studies, 鈥淐hina now possesses the world鈥檚 largest maritime fighting force, operating 234 warships to the U.S. Navy鈥檚 219.鈥� There are considerable efforts being made by organizations like BlueForge Alliance to work with U.S. manufacturers to build up the U.S. Navy fleet.
Then there is technology available to manufacturing that will drive it forward in ways unimaginable just a few years ago 鈥� which may also attract younger workers to the industry.
Held in 2006 in San Mateo, California 鈥� in Silicon Valley 鈥� the first Maker Faire was attended by some 20,000 people, all of whom were interested in the making of things. Subsequent Maker Faires in Atlanta, Detroit, New York, and other cities introduced attendees to innovations like 3D printing and robotic automation.
During my visits to Silicon Valley over the past few years, I鈥檝e been pleasantly surprised to see the number of startups developing robots or utilizing additive manufacturing processes. Many of these companies were founded by people in their 20s and 30s who want to make things, not just code. These are makers who have gone from being hobbyists to professionals.
In this vein, tech companies like Nvidia, AWS, and Microsoft 鈥� companies associated with video games or the screen you are reading this on 鈥� now have teams assigned to supporting manufacturing.
What鈥檚 more, the technologies they are bringing to bear on manufacturing 鈥� AI, cloud computing, and others 鈥� can leverage existing shop floor equipment and personnel to improve everything from processes to training.
From my years on the factory floor, I know that manufacturing isn鈥檛 easy. But compared to other industries, I don鈥檛 think you can find one with more upside 鈥� or one that鈥檚 more exciting.
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