Jim Kurtz, an advisor to the Chicago branch of the Federal Reserve Bank, shares his perspective on what he calls a world-wide “manufacturing evolution” in an address at Lawrence University.
Kurtz presents “Innovation, Creativity, Education and the Global Realignment of Manufacturing” Wednesday, May 4 at 4:15 p.m. in Science Hall, Room 102. A question and-answer session will follow. The event is free and open to the public.
In his address, Kurtz will discuss the need for small- and medium-sized manufacturers to develop new business strategies, emphasize continuous education and form domestic and international partnerships in order to survive in the new global marketplace.
As an advisor to the FRB, Kurtz surveys manufacturers in Wisconsin on their business activity eight times a year. His findings are included in the “Beige Book,” which is reviewed by members of the Board of Governors of the Federal Reserve Open Market Committee. As part of his presentation, Kurtz will share his interpretation of the FOMC’s reaction to the state of the economy in general and manufacturing in particular. The FOMC next meets May 3, the day before Kurtz’ appearance.
During a recent visit to China, Kurtz says he found a country “very focused” on its economic future, with an emphasis on advanced technical training, the development of high skill sets and a rapid expansion of its infrastructure. According to Kurtz, China graduates approximately 400,000 new engineers every year, while the United States only produces around 60,000 new engineering graduates a year. He believes the next five to 10 years will be a critical time for American manufacturers as they try to adjust to increased international competition, perhaps shifting away from actual physical production to more distribution businesses.
Kurtz is involved in a wide range of business and economic activities on behalf of Wisconsin manufacturing interests, including serving as the president of The Group, Inc., an international organization of professionals from several fields who work together to assist small- and medium-sized manufacturers expand their potential.
He is a former member of the Governor’s Council for Manufacturing, serves as a member of Forward Wisconsin and the Independent Business Association and is active in the Society of Manufacturing Engineers. A small-business owner himself, Kurtz operates Screen Specialists, Ltd., an industrial screen-printing business in Waukesha.
His appearance is co-sponsored by the Lawrence economics department and UW Extension.
