“Mindless, Mechanical Cuts” Could Cost North Carolina More Than 11,000 Jobs
(Cary, N.C. – July 9, 2012) – Thirty-four leaders of North Carolina’s aerospace and defense community wrote to North Carolina’s congressional delegation today, urging quick action on legislation to repeal $500 billion in aerospace and defense program cuts scheduled to begin in less than six months.
Sequestration has become one of the most pressing issues in Washington, and the letter notes the “widespread bipartisan agreement that the additional, indiscriminate cuts through sequestration would wreak havoc on our economic and military strength.”
As the letter comes out, the industry is making tentative plans to brief N.C. Governor Bev Perdue on the issue at a roundtable discussion in early August at LORD Corporation headquarters in Cary, N.C.
"These sequestration cuts are a threat to our nation, and a threat to this state," said Gov. Perdue. "It is critical that our representatives in Washington on both sides of the aisle work with the president to craft a responsible solution as soon as possible that preserves jobs and addresses our long-term security and budget needs."
“In addition to the large military presence in our state, aerospace and defense jobs are critical to North Carolina’s economy,” said Rick McNeel, chairman, president and CEO of LORD. “But sequestration would put national security and this statewide economic engine at risk. It is important that our elected officials understand the real impact that sequestration would have on small- and medium-sized businesses across North Carolina.”
“Responsible people can disagree about the best way to balance the budget,” said Marion C. Blakey, president and CEO of the Aerospace Industries Association (AIA), which is co-hosting the roundtable with LORD as part of its national Second to None campaign. “But meat axe cuts across-the-board are simply the worst way to proceed. Budget decisions need to be based on strategy and priorities, not the one-size-ruins-all approach of sequestration.”
The July 9 letter to North Carolina’s congressional delegation is available here.
Information about AIA’s Second to None campaign is available here.
About LORD Corporation:
With global reach and extensive technical capabilities, LORD has the ability to work on complex formulations, balancing contradictory property and process requirements to deliver the solutions that meet customer and market demands. LORD builds on its more than 85 year history with a track record of successful long-term partnerships with technology leaders in industries ranging from aerospace to automotive, electronics to industrial heavy equipment.
Founded in 1924, LORD Corporation is a privately-held company that designs, manufactures and markets mechanical devices and electromechanical systems to control vibration, motion and noise; formulates, produces and sells general purpose and specialty adhesives, coatings and electronic materials; and develops products and systems utilizing magnetically responsive technologies. With global headquarters in Cary, N.C., and sales in excess of $789 M, LORD has manufacturing facilities in eight countries and more than 90 sales and support centers. LORD Corporation employs more than 2,800 worldwide. Visit www.lord.com for more information.