Obama’s campaign said he would set a goal of creating one million new manufacturing jobs by the end of 2016
Taken straight from the horse’s mouth during the 2012 Democratic National Convention:
President Obama’s new, “Blueprint for an America Built to Last,” plan included proposals to lower tax rates for “companies that manufacture and create jobs in the United States” and create a new tax credit that would support companies seeking to finance factories, equipment, or production in communities “that have been hardest hit by a company choosing to relocate or a military base shutting down.” If reelected, time will tell what effect this proposed tax credit will have on the businesses and communities.
I’m hoping as we grow closer to the election more specific details will emerge about his proposed plan. There is intersting speculation, however how this could be accomplished as post-speech research shows that, if started today, “the U.S. would need to add nearly 19,000 manufacturing jobs per month from now until the end of 2016 to reach one million new jobs.”
In the past two years, the U.S. has added an average of 17,250 manufacturing jobs/month. This level of expansion would bring it into record-breaking territory for a 7 year period.