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Conceived in America, Built in Korea Business Articles | July 17, 2007 The backbone and the financial strength of our country has traditionally been our innovation and manufacturing prowess. We have previously been the envy of the world. Now, our textile and consumer products industries are all but gone and our American automobile industry has been surpassed for the first time. What is next? Where is this all going?
I would imagine that South Carolina, where I live, is similar to the rest of the United States in many respects. Over the last few years, hundreds of manufacturing companies here have either closed their doors, been acquired or are operating as a mere shell of their former operations. A hauntingly painful statistic is that in just twenty short years, we have witnessed the slow, agonizing decay and near-death of the textile industry here in America Wholesale NFL Jerseys China , a great deal of which was centered here in the Carolinas.
I moved here from Ohio twenty six years ago, when the single largest industry in the state was textiles. Although a few textile finishing companies remain, there are no more US textile machine manufacturers and yarn spinning companies to speak of. During that time, even as the industry vocalists were crying to government officials for protection, developing a mantra of "Made in America," they continued to buy and utilize foreign-made machinery for their manufacturing plants. They cited lower costs and increased production as their reasoning. Concurrently, manufacturing plants were closing down and the legions of unemployed people were beginning to mount up.
Wal-Mart, a once stellar example of the philosophy of "buy American goods," virtually single-handedly put the US television and consumer electronics industries out of business with their demands, incentives and purchasing in Korea and China. It is reported that Wal-Mart currently employs more than one thousand people at their Chinese purchasing facility, sourcing low cost goods aimed for the American market Wholesale NFL Jerseys , eliminating further opportunities for domestic manufacturers. PBS, BusinessWeek and others have also reported quite extensively on this very subject.
The Columbia Business Monthly magazine just published a featured story concerning a relatively new electronic sensor company which employs twenty-five people in Columbia, 15 of which are PhD's according to the article. The authors spoke of the company's great innovative developments in LED technology and the promising markets that will benefit from their new technological advancements. What was particularly interesting is that the US military is not only a financial backer, but lined up to be a customer for many of their products. The authors proudly reported that this company had received a top honor in winning the Columbia Chamber of Commerce's 2006 Award for Technical Development. Great! Good for them! Now what?
What is most disturbing about this article is that the authors seemed to gloss over the fact that while awards are being won and that promising research and development are happening here in South Carolina, all of the resulting 1200 manufacturing jobs are in Seoul, South Korea, not here.
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