Rockford Register Star
21,626 Jobs according to the Center for Regional Analysis study that was done to show the impact of the “Sequestration” law. That’s the law that requires and additional $500 billion Defense budget cuts on the initial $487 billion cuts.
Congressmen Randy Forbes, Chairman of the Subcommittee on Readiness House Armed Services Committee, Don Manzullo and Bobby Schilling outlined the impact of the looming defense cuts the other day to an audience of about 40 local manufacturers.
Nationwide, the loss of manufacturing and supporting job losses could amount to 1 million. The Center for Security Policy has posted a complete state-by-state analysis and the full 100+ page report can be seen here.
How will this impact Rockford region’s manufacturing base? I’m sure it will have a negative, job losing impact given that we have 21-22% of the workforce in manufacturing and the aerospace cluster that exists here. As importantly, until decisions get made, it creates a cloud of uncertainty with manufacturers as to what their future business will look like. Like the stock market, manufacturers like to have as much certainty about the future as we can, especially if we are contemplating expansion of facilities or investments in capital equipment.
So between now and year end, we’ll just have to voice our opinions and see what happens.
This article can be read here: http://blogs.e-rockford.com/bobtrojan/2012/06/08/illinois-could-lose-jobs-due-to-defense-budget-cuts/