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The United States manufacturing sector has undergone fundamental changes in recent years. Scores of companies in every industry have chosen to move operations abroad to take advantage of compelling tax, trade and labor benefits and to keep competitive advantage in the dynamic global marketplace.
Renewed social, political and economic concern about the changes in U.S. manufacturing and loss of manufacturing jobs in key sectors has led to prospective legislative action at the national level. We appear to be entering a new period in which U.S. tax and trade policies and their impact on manufacturing will be reevaluated, reconsidered and possibly, reshaped.
Manufacturing companies must be positioned to capture opportunities and meet challenges associated with shifts in U.S. tax and trade policy. Baker Tilly’s Center for the Return of Manufacturing (CFRM) was created to help plan, guide and assist U.S.-based middle market manufacturers to execute strategy, whether initiating or returning operations to the United States or unlocking export and revenue growth opportunities abroad.
The CFRM provides planning, implementation and tailored business solutions for manufacturers seeking to grow, relocate and/or repatriate operations in response to macro-level changes in tax, trade and capital policies. The CFRM is a community of committed difference-makers working to help mid-market manufacturers capture and leverage opportunity in a period of rapid industrial change and global uncertainty.
Baker Tilly has released a CFRM white paper which outlines the current state of the three most important influences on manufacturers––tax, trade and capital. It summarizes and presents possible policy changes being considered for each and suggests how manufacturing firms can anticipate, plan for, manage and leverage those changes in a new political, regulatory and economic environment.
For more information, visit Baker Tilly’s Press Release on CFRM to view the whitepaper.