Business Roundtable, NAM Combine COVID-19 Response Efforts to Address Critical Shortages
Partnership Brings Together Full Strength of U.S. Business and Manufacturing Communities
Washington, D.C. – The National Association of Manufacturers and Business Roundtable are joining forces to strengthen the business community’s response to the critical supplies shortage facing the nation’s medical community due to COVID-19. The partnership brings together the full strength of the U.S. business and manufacturing communities to help those on the front lines of the pandemic. NAM President and CEO Jay Timmons and Business Roundtable President & CEO Joshua Bolten will serve as co-chairs of this effort.
The NAM and Business Roundtable will help consolidate efforts across industry sectors in the United States and report the data to the federal government. The NAM and Business Roundtable are encouraging their members to share information on medical supplies and equipment, including personal protective equipment and test kits, through a co-developed online survey. The data will capture existing supplies as well as where new manufacturing capacity can be tapped to address shortages nationwide.
Upon announcement of this partnership, Vice President Mike Pence offered the following statement:
“Our nation’s job creators have embraced President Trump’s ‘whole-of-America’ response to the coronavirus outbreak and have quickly mobilized to find innovative solutions for the challenges ahead of us,” said Vice President Mike Pence. “From coast to coast, America’s businesses have brought a truly extraordinary response to this moment, and they should be commended for answering the call and being part of the solution.”
Upon announcement of this partnership, Bolten and Timmons released the following statements:
“Only through a concerted effort can this country address the current shortages of critical medical supplies and equipment,” said Bolten. “Working with our members to identify excess inventories as well as additional manufacturing bandwidth is one way we can help those on the front lines of the fight against COVID-19. Our goal is to keep all Americans healthier and safer.”
“Manufacturers in America are reigniting the ‘arsenal of democracy’ and mobilizing to help our nation overcome this historic crisis, and it is inspiring to see thousands of manufacturers stepping up to join the fight over just the past two weeks,” said Timmons. “By combining the NAM’s nationwide efforts with the work of Business Roundtable, we will be even more effective in our vital work. We are coordinating directly with the administration and manufacturing leaders to identify existing equipment and ramp up production of urgently needed health supplies. America’s creators will respond to this challenge, just as we have throughout history. We are all in this together as we fight to keep our country healthy and strong.”
The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12.8 million men and women, contributes $2.37 trillion to the U.S. economy annually and has the largest economic multiplier of any major sector and accounts for 63% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the Manufacturers or to follow us on Twitter and Facebook, please visit www.nam.org.
Business Roundtable CEO members lead companies with more than 15 million employees and $7.5 trillion in revenues. The combined market capitalization of Business Roundtable member companies is the equivalent of over 27 percent of total U.S. stock market capitalization, and Business Roundtable members invest nearly $147 billion in research and development – equal to over 40 percent of total U.S. private R&D spending. Our companies pay $296 billion in dividends to shareholders and generate $488 billion in revenues for small and medium-sized businesses. Business Roundtable companies also make more than $8 billion in charitable contributions.