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January 27, 2009

Table of Contents

Local Manufacturers Making the Difference for Area Youth

Project HIRE: Great News
for NEO Manufacturers

American Recovery and Reinvestment Tax Act Information

Maintaining Profit Potential

Upcoming WIRE-Net Events

Other Area Events for Manufacturers

 

WIRE-Net's Mission

WIRE-Net strengthens manufacturing to create healthy communities and fuel economic growth.

We provide expertise that is responsive to manufacturing related businesses and their employees.

WIRE-Net connects leaders to each other and engages them in their communities.

WIRE-Net:
Where Manufacturing Matters.

 

The views expressed in WIRE-Net's eNewsletter do not necessarily reflect those of our member companies or funders. To express your opinion or concerns, please contact John Colm at 216.588.1440, ext 105.

Local Manufacturers Open Their Doors to Students

STC Bowden Tour Students get a chance to see
advanced manufacturing up close
during a recent tour of
Bowden Manufacturing
in Willoughby, Ohio.

This fall three local companies welcomed WIRE-Net’s School-to-Career students to their facilities to give them a glimpse of modern manufacturing. Student were impressed with the different companies; for some of the freshman it was an introduction to advanced manufacturing and for older students the tours solidified their plans to pursue a career in this in-demand field.

At Astro Manufacturing in Eastlake our freshman were excited to use the surgical simulation devices that are produced there. Even more impressive to them was the torpedo that had a prominent position in the lunch room! The students are still talking about all the high tech equipment they saw!

Upcoming
WIRE-Net Events

Curb Appeal:
Detroit Shoreway Neighborhood

Wednesday, February 3, 2010
HKM Direct Market Communications
Cleveland, OH

Plant Tour: US Endoscopy
Thursday, March 18, 2010
US Endoscopy
Mentor, OH

Click here to see where else they visited!



Grab a pencil...It's time to take action

Project HIRE is the best thing to happen to Northeast Ohio manufacturing in a while

By Mary Kaye Denning

Manufacturers, finally, there is assistance from the State and Federal Government that benefits your bottom line. Now, for a limited time, you can cross train your workforce and/or advance the skill sets on your factory floor. Get ready now so that you are ready to tool up quickly and process any order more quickly and profitably.

Manufacturers, you have always gotten a leg up when you used reduced labor costs. You have been globetrotting for years. Now, here in Ohio you can save upwards of 33% on labor costs and gain a well-trained employee to boot? This rocks!

Click here to learn more.
 

Did You Know?

American Recovery and Reinvestment Tax Act:
Net Operating Loss Carryback

For companies with net operating losses arising in tax years ending after 2007, the Act allows taxpayers to carry back these losses for three, four, or five taxable years, rather than the current two taxable years. The provision applies only to businesses with average annual gross receipts of less than $15,000,000 (taking into account the gross receipts of certain related taxpayers) for the three tax year periods ending with the loss year.

This is helpful for taxpayers who may not have had taxable income in the prior two years. Because the carryback period is extended, a refund of taxes already paid can be received. The taxpayer makes an irrevocable election to carry back the NOL for three or five years. Taxpayers can and should use the tentative/”quick” carryback procedures by using Form 1139 (corporations) or Form 1045 (individuals) which expedites the processing of the refund.


Maintaining Profit Potential:
Manufacturers Speak

By Ty Haines

This past year's economy has been tough on many manufacturers. At an open meeting of the Manufacturing Innovation for the Next Decade (MIND) group in November, companies reported on strategies that have kept them in business and positioned for growth, including

  1. Building bench strength
  2. Decreasing operating costs
  3. Preventing and promoting
Dollars

Click here to get the details.

Other Area Events for Manufacturers

Supplier Opportunities for Clean Coal, Nuclear, Advanced Energy & Defense
Thursday, January 28, 2010
Youngstown Business Incubator
Youngstown, OH

CNC Technology Training Courses
February and March, 2010
Cuyahoga Community College
Cleveland, OH

DOL-Funded Motor Vehicle Supply Chain Continuous Improvement Training Program
First Quarter, 2010
Cleveland, Toledo, Akron, Canton, Youngstown, Columbus, and Dayton, OH

OAMF CPR/First Aid Training
Thursday, February 11, 2010
American Red Cross
Cleveland, OH

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