Steep Drop for U.S. in Competitiveness Rankings

September 9, 2010

ARLINGTON, Va., Sept. 9 /PRNewswire-USNewswire/ – The World Economic Forum released today its Global Competitiveness Report, which shows that the United States has fallen to fourth place.

Two years ago, the United States ranked first.

“This disturbing news makes it clear that the administration and the Congress must take immediate action,” said AIA President and CEO Marion C. Blakey. “We cannot risk falling further behind in today’s competitive global economy.”

Among the top four problem factors identified by the World Economic Forum for doing business in the United States are tax rates and regulations and inefficient government bureaucracy.

AIA is proposing a four-step program to address this competitiveness gap:

1) Making permanent and simplifying the Research and Development Tax Credit;

2) Reducing corporate tax rates;

3) Reinstating the bonus depreciation for businesses making capital investments; and

4) Streamlining government operations and reducing overhead as called for by Secretary Gates and recommendations from the Defense Business Board.

Next week during National Aerospace Week, supplier executives from the aerospace and defense industry will be meeting with their representatives to stress the importance of making these reforms to make companies, especially small businesses, more competitive.

Founded in 1919 shortly after the birth of flight, the Aerospace Industries Association is the most authoritative and influential trade association representing the nation’s leading manufacturers and suppliers of civil, military and business aircraft, helicopters, unmanned aircraft systems, space systems, aircraft engines, homeland and cybersecurity systems, materiel and related components, equipment services and information technology.

SOURCE Aerospace Industries Association

Source: newswire

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