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Manufacturing fuels economic growth, says report

A new report finds that manufacturing fuels economic prosperity, but requires pro-growth policies to create jobs and remain globally competitive, the National Marine Manufacturers Association reports.

The Manufacturing Resurgence - A Must for U.S. Prosperity report was released this week by the National Association of Manufacturers and the Council of Manufacturing Associations. The NMMA is a member of NAM's Council of Manufacturing Associations and one of the sponsors of the study.

"Boating is a uniquely American industry - largely made by Americans for Americans, as well as representing 50 percent of the world market for boating. To remain strong players in a competitive world, U.S. manufacturers need government policies that encourage continued innovation and productivity gains, said NMMA president Thom Dammrich, in a statement.

"In particular, we need policies that encourage public and private investments to enhance productivity, such as those in R&D, capital goods, worker training and early education that nurtures math and science proficiency," he added.

Report findings indicate that U.S. manufacturing generates more economic activity per dollar of production than any other business sector in the country. What's more, manufacturing industries perform nearly two-thirds of the private sector research and development that contributes to America's leading edge in innovation and breakthrough technologies.

The report also offers specific recommendations to create jobs and enhance U.S. manufacturing innovation, productivity and competitiveness.

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