Hillary Clinton’s month-long focus on a jobs agenda continues with an announcement today (Tuesday) of her strategy to win the race and lead the world in advanced manufacturing. The centerpiece of her plan is a new tax credit—dubbed the Manufacturing Renaissance Tax Credit—which will incentivize investment in communities that are at risk of a downward spiral because of the deportation of manufacturing jobs and production. Under the plan, communities would be eligible to apply for tax relief after a significant plant closure or round of layoffs in their area. They could also be eligible for relief for long-term investments or refurbishing and repurposing facilities. She would expand President Obama’s National Network for Manufacturing Innovation program, which supports regional hubs bringing workers, businesses, universities and community colleges together to develop world-leading technologies and production that anchor jobs. In addition, her plan would double funding for the Manufacturing Extension Partnership—a public-private program providing federal support to small and mid-sized American manufacturers. Clinton says, by strengthening our manufacturing sector for the future, we can help create the next generation of good-paying jobs and put more people back to work across the country.
