“We literally just heard minutes ago from a manufacturer who said, ‘I’m actually thinking about buying the piece of equipment and being the supplier in the U.S. as opposed to buying it from Mexico.’ That is exactly the realignment the administration is hoping to see.”
Paul Fitzpatrick is the head of the SBA’s Office of Entrepreneurial Development.
He came to Grand Rapids for roundtable discussions as part of the SBA’s “Made in America Manufacturing Initiative.”
Its goal is to bring manufacturing back to the U.S. from overseas by cutting regulations, expanding access to capital and supporting small manufacturers.
“We really feel this is a generational opportunity. Over the last generation or two, we saw 70,000 factories close, 5 million jobs lost. We hope with this realignment – global realignment – we’re going to see businesses start and businesses grow to do the manufacturing domestically and for other businesses to say, ‘I’m going to source domestically for lots of reasons.’”
Fitzpatrick acknowledges there are challenges including higher labor costs, workforce availability, investments in infrastructure and technology.
“Some will see the opportunity and seize it and really boom, and some may not. Some may just hunker down, pull their turtle shell over them. I’m not mitigating the challenges but it’s really an incredible time of opportunity.”
About the U.S. Small Business Administration
The U.S. Small Business Administration is the voice for small businesses within the federal government, empowering job creators with resources and support to start, grow, and expand their businesses or recover from a declared disaster.
It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.
