Economic Institute Senior Director
Reinventing Manufacturing
Reinventing Manufacturing: How the Transformation of Manufacturing Is Creating New Opportunity for California
California—with its diverse economy and history of innovation—is well positioned to capture future growth in many manufacturing sectors, but state and local governments will need more targeted policy tools to stimulate commercialization of new products, close the workforce gap, and incentivize more manufacturers to locate within the state. While the offshoring of production and automation technology have fundamentally transformed the industry, high-skilled manufacturing jobs are essential to a balanced, competitive economy. Today, advanced manufacturing techniques, the growing maker movement, and a renewed national interest in research and development have led to a reinvention of the manufacturing industry.
Report
California Tool Works
California’s stock in trade is innovation. From ideas to capital to talent, the critical mass exists in California’s complex business networks to deliver almost any concept to its fullest potential.
Accelerators and incubators play a vital role in the state’s innovation ecosystem. Startups often find incubators and accelerators attractive as they go through the pains and pitfalls of early success and failure. As the model has proliferated, accelerators have become the epitome of an industrialized process: startups churned out in volume through an assembly line.
Report
Reinventing Manufacturing
Technology is revolutionizing manufacturing processes through innovations in 3D printing, robotics and big data (the Internet of Things) – often based on innovations that come from California. A range of factors, including rising labor costs in China, are leading some manufacturers to bring production home. California is in a good position to capture much of this growth, but needs policies that support and incentivize investment.