GE survey - will green tech innovation drive manufacturing growth

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Ninety percent of American business leaders agree that green technologies and the energy industry will power manufacturing growth in the U.S. over the next three years, along with high-tech and biotechnology.

These are the key conclusions according to a survey of 360 senior industry executives about the future of manufacturing sponsored by GE and carried out by the Economist Intelligence Unit.

The same large majority also believes that innovation will be the future driver of manufacturing growth in America with 63% of respondents stressing that innovation in manufacturing processes was extremely important to the long-term success of the U.S. as a manufacturing destination.

The polled group also agreed that business-led initiatives are the key to the future competitiveness of the industry, rather than government incentives to bolster innovation.

The executives do see a role for the government in improving science and math education, offering tax incentives, and creating a better regulatory environment.

The survey was carried out in August 2011. Some 40% of the 360 respondents were board members or C-level executives, including 96 CEOs, from industries such as high-tech, electronics, energy, biotech, pharmaceuticals, and other.

More than half run companies with annual revenues above $500 million and one third with revenues over $10 billion.

In conjunction with the survey, Visualizing.org, a data visualization initiative jointly created by GE and Seed Media Group, has announced a public challenge to interpret the EIU data and other government manufacturing statistics.

The goal is to visualize the information in a compelling way that illustrates the dynamics of U.S. manufacturing. The winner will receive a $2,000 prize. An honorable mention recipient will receive a $500 courtesy prize. The prizes will be funded by GE.  The submission deadline is November 8, 2011.

At GLOBE 2012,taking place March 14-16, 2012, Experts from government and industry will discuss the key technologies and energy sources that will power our future and change the face of manufacturing. Get More information on GLOBE 2012 here

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