HB 2892 - DIGEST

(SUBSTITUTED FOR - SEE 1ST SUB)

Declares that, although manufacturing has long been subject to the ups and downs of regular market cycles, the increasing pace of globalization and the ability of the world's new manufacturing floor to export deflation has caused United States manufacturers to lose all pricing power. Despite the development of good cost control practices such as lean manufacturing, domestic manufacturers cannot compete on price alone.

Declares that, as our economy continues to evolve through changes to our existing manufacturing base, our manufacturers need assistance to continue to provide high quality products at a low cost. In order to make a radical change to an innovation focus, there must be a public and private partnership.