Accelerating supply chains, supporting manufacturers in Ohio
As the holiday season approaches and Ohio residents hope their thoughtful gifts arrive on time and track down ingredients for family recipes, it is important that we take steps to strengthen and expedite our supply chains.
In the past few months, we’ve seen supply chain disruptions across the country and around the world. There are many different and interrelated causes of these disruptions, including the pandemic and bottlenecks in ports and other critical infrastructure.
It’s frustrating for consumers – people don’t have time to search five different stores for what they need for Thanksgiving dinner, and they shouldn’t have to wait weeks or months for their medication or their children’s sports equipment.
And it’s costly to companies – a delay in just one entry can cause a company to default on executing orders or force it to redesign production.
That’s why I introduced the Supply Chain Resilience Act. This bill would help alleviate supply chain bottlenecks both now and in the future, and it would invest in American manufacturers to reduce our reliance on long, international supply chains.
The bill would create an Office of Supply Chain Resilience in the Department of Commerce. This new office would monitor, research and address vulnerable supply chains.
The office will also provide loans, loan guarantees, and grants to small and medium-sized manufacturers to help them expand manufacturing in the U.S. and avoid the bottlenecks we are currently seeing.
For example, a manufacturer who cannot meet the increased demand for its products could receive a low-interest loan from the Office of Supply Chain Resilience to expand production.
There’s no reason American companies should wait for important products like semiconductors or medical devices from China or any other country on the other side of the world when we have so many manufacturing talent here in Ohio.
And as our economy recovers with strong employment growth and consumer demand, we need to make sure our domestic industries get the support and supplies they need to keep pace. Our calculation will work for this.
Sherrod Brown (D-Ohio) represents the state in the US Senate.