'Get back in the game'
GE's Immelt urges American manufacturing to develop research, investment and innovation
General Electric chairman Jeffrey Immelt told a Detroit-area group last week that American manufacturing can regain its leadership role in the world by following the example of emerging manufactuirng economies.
According to the Associated Press, Immelt told the Economic Club of Detroit that the United States had lost its edge in innovation, and that had led to a shift to a service-based economy.
"We would do much better to observe the example of China. They've been growing fast because they invest in technology and they make things. They have no intention of letting up in manufacturing in order to evolve into a service economy. America has to get back in that game."
General Electric announced plans Friday to open an advanced manufacturing technology and software center in Michigan that could create more than 1,100 job in the coming years.
The center will include a research and development facility and "will house scientists and engineers who will develop next generation manufacturing technologies for GE's leading renewable energy, aircraft engine, gas turbine and other high-technology products," GE said in a statement.
The center, which is expected to open later this year, will be located at the Visteon Village about 25 miles from Detroit.
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Annual Salary Survey
In a year when manufacturing continued to lead the economic rebound, it makes sense that plant manager bonuses rebounded. Plant Engineering’s annual Salary Survey shows both wages and bonuses rose in 2012 after a retreat the year before.
Average salary across all job titles for plant floor management rose 3.5% to $95,446, and bonus compensation jumped to $15,162, a 4.2% increase from the 2010 level and double the 2011 total, which showed a sharp drop in bonus.