Editor’s Note: Expanding Economy’s Need for Skilled Labor
Q4 2014
PwC’s Q3 2014 Manufacturing Barometer projects company revenue growth of 5.6 percent over the next 12 months, although there are concerns about the impacts of legislative/regulatory and tax policies. According to Bobby Bono, PwC’s U.S. industrial manufacturing leader, …”management teams believe they are making the right decisions to grow, but remain leery of external factors beyond their control.”
The PwC report also indicates 52 percent of U.S. industrial manufacturers plan to add employees to their workforces over the upcoming year. More than 30 percent of those with such plans said the most sought-after workers are skilled laborers. This requirement was also on the minds of those who responded to the 2013 Area Development Corporate Survey: availability of skilled labor was their number-one concern in the location/expansion decision process. Interestingly, a lack of skilled labor is also cause for concern in the U.S. construction industry, where spending reached its highest level this summer since 2008. In this issue, we examine the availability of skilled labor factor and the next nine most important site selection criteria in more detail.
The second-most-important factor is highway accessibility — not surprising considering it is “the lifeblood of robust commerce,” according to National Association of Manufacturers (NAM) President and CEO Jay Timmons. The nation’s aging infrastructure is in dire need of upgrades, and Congress needs to focus on long-term spending plans, Timmons further notes. NAM outlines its recommendations in a report entitled “Catching Up — Greater Focus Needed to Achieve a More Competitive Infrastructure.”
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Geraldine Gambale, Editor, Area Development Magazine
Geraldine Gambale has overseen the editorial operations at Area Development magazine for 25 years. Under her direction, the publication has provided valuable site selection and facility planning information to its corporate readers through insightful articles and advice from industry experts, as well as from those who work in the economic development field. Her meetings with high-level government and industry officials in the United States and abroad have provided a prospective of what’s behind companies’ location and expansion decisions. She is also responsible for conducting and analyzing the results of Area Development’s highly regarded Annual Corporate and Consultants surveys. Prior to joining Area Development, Ms. Gambale worked in the banking industry. She holds a BA in English from Queens College, New York.
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