AEM recently hosted a virtual media briefing for dozens of national and trade reporters to provide an update on the state of the $288 billion equipment manufacturing industry and additional insights into the opportunities and challenges facing equipment manufacturers in the U.S. The briefing featured AEM President Megan Tanel, AEM Board Chair and Senior Vice President, Customer Experience at AGCO Corporation Robert Crain, AEM Board Vice Chair and Chairman and CEO of Komatsu North America Rod Schrader, and AEM Senior Vice President of Government and Industry Relations Kip Eideberg.
During the media briefing, Tanel, Crain and Schrader offered insights into an array of topics with a major focus on infrastructure, the global supply chain, and workforce development.
As discussion continues on the implementation of the recently passed Infrastructure Investments and Jobs Act (IIJA), here’s what AEM President Megan Tanel had to say about implementing the IIJA:
“As we begin to see the light at the end of the tunnel and work towards a new normal, we need to ensure that lawmakers continue to prioritize the policies that will help our industry fully recover from the effects of the pandemic that will last well into 2022 and beyond. This includes working with the Biden administration to ensure the implementation of the bipartisan federal infrastructure law acknowledges the significant role that equipment manufacturers can and will have in the process.
“Equipment manufacturers are ready to work with President Biden, Transportation Secretary Buttigieg, infrastructure czar Mitch Landrieu, and other key cabinet members to provide whatever resources they might need from us to achieve this. And we're taking this infrastructure conversation on the road this year with AEM’s Infrastructure Vision 2050 initiative. Throughout the year, AEM will host events in key cities across the United States, each focusing on policy recommendations from IV2050’s 2021 Rebuild with Purpose Infrastructure report. Over 30 policy recommendations in our Rebuild with Purpose report were part of the bipartisan federal infrastructure bill, and many more stand to be adopted as part of the implementation process. We couldn't be prouder of that work. We want to continue this conversation with public and private sector leaders to hear their ideas on how state lawmakers can take advantage of the funds they stand to receive from the infrastructure bill to modernize America's infrastructure while bolstering the economy.”
AEM Board Chair and Senior Vice President of Customer Experience at AGCO Corporation Robert Crain on infrastructure and workforce development:
“There's much talk these days of infrastructure investment and the need for expanding rural broadband coverage. These services are not only critical for web-based commerce and remote work; they also enable the precision farming capabilities our farmers need to feed a growing world. The bipartisan infrastructure deal includes funding for this development, and we strongly applaud those efforts.
“The workers in our rural areas and manufacturing facilities need investment, too, as the American workforce is increasingly underprepared to support these modernizing industries. Jobs in our industry are found in all 50 States and in both rural and urban communities. Manufacturers like AGCO and our other member companies are working hard to train and recruit these workers, often through partnerships with regional institutions, but we need greater state and greater federal investment to prepare these workers for our increasingly technical industry.
“The current patchwork of workforce development efforts struggle to respond to globalization and new technologies, and they're not sufficient to adapt to the needs of our employers and workers. That’s why we strongly urge elected officials to support policies that will create a pipeline of skilled workers who can meet the needs of the 21st century economy.”
AEM Board Vice Chair and Chairman and CEO of Komatsu North America Rod Schrader on implementing the infrastructure law and preparing tomorrow’s workforce:
“Equipment manufacturers have been working very hard, especially these past two years, to keep vital industries properly supplied during the COVID-19 pandemic. And we've also been working very hard over the last year to support our lawmakers and get the infrastructure bill passed. Now we need to work collaboratively with the federal government and with the states to implement and complete these projects across the country. Creating value together for our businesses and for our citizens. There's still work to be done. We need to make sure that investment parity is done amongst urban and rural and suburban communities. We need to make sure those investments are spread out evenly, and we still need to secure long-term funding sources so that we can continue the investment in the infrastructure to create that economic development.
“Workforce is on the minds of every one of our member companies and is a key challenge for them. Each one of our members are working on initiatives at local levels, but to ensure that our economy continues to grow, we need to work together - businesses, government, education - to find sustainable workforces to keep the economic engine in the U.S. going."
Answers have been edited for brevity and clarity. If you would like to watch the full briefing, please click the link here.
If you have questions or are a reporter and would like to submit a new media inquiry, contact AEM’s Katrina Bishop at kbishop@aem.org.
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