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Resources to Boost Your Business’ Cybersecurity

June 4, 2021

This week, IndustryWeek reported that the cyberattack on JBS Foods reveals hackers are becoming more successful in their attempts to infiltrate America’s crucial supply chains. Cybersecurity experts have little reason to believe the attacks will ebb any time soon. One expert told the publication: “The foundation of our global food supply chains, transportation systems, and more are under attack because cybercriminals realize how disruptive and lucrative attacks targeting these systems can be.”

Fortunately, cybersecurity services are offered by several OMA Connections Partners, including the following:

Members with cybersecurity questions or concerns are encouraged to contact these OMA-member firms. 6/3/2021

Survey: 83% of North American Manufacturers Likely to Reshore Supply Chains in 2021

June 4, 2021

More than 80% of manufacturers are planning to add North American suppliers to their supply chains within a year, according to the latest Thomas State of North American Manufacturing Report. That’s a significant increase from 54% in March 2020. According to Thomas, $443 billion could be added to the nation’s economy if 83% of the manufacturers in the U.S. bring on just one new supplier at an average of $921,247 per contract. 6/3/2021

Southwest Leads in Recent U.S. Manufacturing Job Growth

June 4, 2021

According to federal data analyzed by the Wall Street Journal (subscription), some of the nation’s manufacturing — from steel and semiconductor chips to electric cars — has moved to new factories in Southwest states due to local tax breaks and an influx of skilled workers, as well as affordable land. As reported, Arizona, Texas, New Mexico, Oklahoma, and Nevada added more than 100,000 manufacturing jobs from 2017 to 2020, accounting for 30% of all job growth in the sector. 6/2/2021

Survey Examines Auto Manufacturer-OEM Relationships

June 4, 2021

Supplier relationships directly impact the automotive industry. That’s why OMA Connections Partner Plante Moran produced its 2021 Working Relations Index® (WRI) study, which measures changes in the quality of vehicle manufacturer and tier-one supplier relationships, as well as what they mean for OEM and supplier competitiveness. Read the study results. 6/2/2021

At a Glance: Biggest Trading Partners for Every State

June 4, 2021

HowMuch.net has published this map showing the top export partners for every state. Canada is the single largest trading partner for the vast majority of states — including Ohio — receiving the most exports of 33 states. China is the main export partner for only five states, which helps explain America’s large trade deficit. 6/2/2021

Business Groups Urge Caution on School Funding Overhaul

May 28, 2021

Ohio’s major business associations, including the OMA, joined forces this week to encourage the Senate to carefully consider legislative changes approved by the House to revise Ohio’s school funding formula. The business groups question the actual cost of the reforms and adequacy of accountability controls. Read the letter. 5/27/2021

Ohio’s Unemployment Rate Unchanged at 4.7% in April

May 28, 2021

Last week the Ohio Department of Job and Family Services reported that Ohio’s unemployment rate was 4.7% in April 2021, unchanged from 4.7% in March.

Month to month, manufacturing lost 800 jobs. However, from April 2020 to April 2021, manufacturing added 74,500 jobs in

durable goods (+52,800) and nondurable goods (+21,700). 5/24/2021

House Eliminates Businesses’ Right to Negotiate Payment Terms in Construction Contracts

May 21, 2021

This week, on an 86-10 vote, the Ohio House trampled on the right of private businesses to freely negotiate payment terms in construction contracts by approving House Bill 68, which the OMA opposed. (The OMA notified the speaker about the bill’s problems.)

HB 68 requires the state to set payment terms in construction contracts and allows for a potential windfall against manufacturers. It eliminates the right to negotiate payment terms and instead requires all construction contacts to be paid within 30 days. The bill also establishes new penalties by imposing an 18% annual interest rate to payments not made within 30 days.

The OMA and other business allies will continue to fight this bill in the Senate to protect one of the most important pillars in a free market – the freedom of contract. 5/20/2021

Timmons Delivers 2021 State of Manufacturing Address

May 21, 2021

Last Friday, May 14, NAM President and CEO Jay Timmons delivered the 2021 State of Manufacturing Address, spotlighting manufacturers’ ongoing COVID-19 efforts, while identifying the key federal policy priorities for the industry. Watch the address.

Timmons said: “Manufacturers are not victims of history, never have been. Because we literally build the future.” 5/17/2021

Governor Signs Broadband Expansion Bill

May 21, 2021

This week, Gov. Mike DeWine signed House Bill 2, OMA-supported legislation that will expand internet access to unserved areas of Ohio. It dedicates $20 million up front via the newly created Ohio Residential Broadband Expansion Program. Future funding is expected to be included in the state operating budget.

For more, read this summary by the OMA’s general counsel, Bricker & Eckler. Also, here’s what the OMA had to say about the new law. 5/17/2021