Follow on Google News News By Tag Industry News News By Location Country(s) Industry News
Follow on Google News | Manufacturing Division set to close.Governmental regulations and rising cost have forced L.R.Caldwell Int'l Inc. to reconsider its postion on domestic manufacturing. "Outsourcing US labor to increase jobs is too over-regulated at this time." said a corporate advisor.
Convincing consumers to buy "American" has had little to no effect. Rather than continue in the manufacturing industry and be forced to use overseas manufacturers for the sake of corporate profit, we have chosen to cease operations in the manufacturing field completely." "Between taxes and over-regulation on the part of both local and federal governments, small businesses find it extremely difficult to compete on the international manufacturing industry." Focusing on international marketing, it is our hope that the few remaining small manufacturing businesses left in the USA will find more overseas buyers in order to strengthen their business. Those working in our manufacturing division will be absorbed into other divisions within the company." "Only time will tell if we made the right chioce." Higher labor is NOT to biggest obstacle small manufacturers face ( but still a problem). The USA has some of the most debilitating laws and regulations targeting small businesses in the world. How is it major US companies can be taxed around 2% on profits because they employee and stimulate overseas countries, and small corporations here in the USA get taxed closer to 35%? governmental rewards to stay away from home? End
Page Updated Last on: Oct 01, 2013
|
|