The pandemic that has crushed global supply chains is reviving efforts to begin the arduous and costly process of reviving U.S. manufacturing capacity through expanded access to capital for startups.
While the legislative proposal to jump-start manufacturing was welcomed by supply chain experts, they also note that scaling that effort will require years of “patient” investment along with the human capital currently in short supply in the West after four decades of Chinese manufacturing dominance.
The manufacturing initiative reintroduced by Sen. Corey Booker, (D-NJ) on March 12 would establish an investment fund overseen by the U.S. Small Business Administration. Booker said the proposed Scale-Up Manufacturing Investment Company Act would offer federal loan guarantees to investors who back advanced manufacturing startups in the U.S.
