The current state of manufacturing expansion as a form of economic development faces a variety of challenges faceted by several moving pieces. In the article entitled, “Premature Deindustrialization: The New Threat to Global Economic Development” the author refers to the revolving door for capturing low-cost labor and the threat that hinders short-term economic growth and development due to manufacturing plants that are relocating to take advantage of low-cost labor.
Another facet to this discussion is the proliferation of industrial automation and its impact on the global manufacturing industry. A report by Transparent Market Research notes that there is a strong correlation between the rising costs of labor and the growth of the global industrial automation market. In an article entitled, “Building the American dream” the author notes that our education systems primarily encourage students to focus on taking classes that will prepare them for acquiring a college degree, while ignoring the emerging opportunities in highly skilled trades.