Every now and then I come across a program or group that understands the importance of a bigger picture and philosophy. Such was the case this morning when I went through my Twitter feed and found @goldenstatemade.
Are you Racing to the Bottom?
A global competitive environment means US manufacturing & Supply companies must find ways to be competitive, innovative and resourceful without racing to the bottom. What does “racing to the bottom” mean, exactly? It means cutting margins and costs so tightly that a business barely survives rather than continues to grow and lead their market. It means utilizing lower quality materials in order to be the low-cost provider in the market.
In California, where state taxes and state regulations make it difficult to manufacture, companies that continue to thrive here must be more creative and innovative. One ally in this competitive marketplace is the Made In California Program run by CMTC based in Torrance, CA.
Supply Chain, Recognition, Networking
The Made In California Program provides a forum for California manufacturing companies to network with other manufacturers providing additional opportunities that link complimentary products together. These opportunities can open doors for California manufacturing companies to work together in a cooperative culture increasing innovation, efficiency, and market growth.
In addition, the program highlights individual companies that have been successful and are growing despite tough economic conditions, global competition, and falling prices.
Networking opportunities such as Made In California are great examples of collaboration that will help California manufacturers to compete and grow both today and tomorrow.
Every Opportunity to Succeed
Today, manufacturing companies in California need to take every opportunity to succeed. Utilizing every resource to market, network, reduce taxes through available government incentives (such as the research tax credit, domestic production deduction or cost segregation), identify new markets, improve quality and innovate are critical to long-term success.
If you haven’t had an opportunity to visit the Made In California site, follow the link above. It could be that extra relationship that takes your company to the next level.
What say you, my friends?
Are you linked to other manufacturing companies that develop complimentary products?
Are you a critical component of more than one supply chain?
When was the last time you had your tax incentives reviewed to make sure you are maximizing every government incentive you qualify for?
Randy Eickhoff, CPA is President of Acena Consulting. With more than 20 years of tax and consulting experience, Randy focused on helping companies successfully document and secure tax incentives throughout the US. He has been a long-time speaker nationally as well as conducted numerous training sessions on R&D tax credits and other US tax incentives.