News & Insights

Excerpts from Remarks Prepared for Delivery for NAM President and CEO Jay Timmons
NAM Board of Directors Meeting, Naples, Florida

…There’s a new reality in Washington and in America. You could go as far to call it a “new world order.”

And a new reality requires a new strategy. That’s what I want to lay out for you today: a plan for success. You could call this plan Make America Great for Manufacturing Again.

Leading up to the inauguration and in the past month since, I have heard from so many of you.

To be honest, it’s been quite divergent. Some of you are thrilled. Some of you are reserved. Some of you are downright panicked.

I know that you’re putting investment decisions on hold because you don’t have the confidence yet that those 2017 tax reforms the NAM shaped will be renewed.

I’ve heard your frustration about the regulatory onslaught that rained down…and your questions about how fast can we really move to make changes in a way that won’t get delayed by litigation?

I’ve heard your concerns about the workforce. Will we get the immigration policy that we deserve—and the support for the workforce programs that we need?

I know that you’re anxious for permitting reforms—so that paperwork and red tape aren’t slowing you down even more.

And, I can tell you, on the weekend of February 1 when the 25% tariffs were announced on Canada and Mexico, I took more calls, answered more emails than I ever have in this job.

Tariffs… tariffs are, simply put, part of our new reality. The President has made it very clear he will impose them.

So what does that mean for us?

I’d suggest that our message—our unified message—needs to be this: there must be a commonsense, coordinated and comprehensive manufacturing strategy from our elected and appointed officials. … one that aims to reduce the cost of doing business in America and incentivizes investment, job creation, wage growth and production here at home. I want to repeat: a comprehensive manufacturing strategy.

We all know we are a capital-intensive industry. We plan months, years, decades in advance. Uncertainty is the silent killer of manufacturing investment.

Since tariffs are on the table, … tax reform, permitting reform, and more, simply cannot be delayed.

And I’ll go a step further: those objectives need to be even more aggressive.

Our job at the NAM is to help the administration and Congress understand that all of these policies and more are intertwined and interconnected. We are telling the story about tariff impacts on manufacturing. Since they are intent on applying them…then they need a plan to offset those cost pressures somewhere else.

So, let’s talk about that comprehensive manufacturing strategy. A strategy, unlike a wish list, is focused on how to get us where we want to go within a given reality.

And I want to lay out some thoughts—and then I want to hear from you…your reactions, your questions. That will happen later on during this session after we bring the External Affairs team on stage.

Taxes

Let’s start with taxes. As I was saying on the Competing to Win Tour, we have to do this now. Every day we wait means jobs and opportunity lost.

But here’s the good news. We are the association that can bring all the key players together.

We did it in 2017. We did it again last month, as Kathy mentioned, when we brought together House Ways and Means Committee Chair Jason Smith and Senate Finance Committee Chair Mike Crapo, along with the Speaker of the House and the House Majority Leader, to release the NAM’s tax study with EY at the U.S. Capitol.

Those of you who know Capitol Hill know that it’s next to impossible to get the chairs of the House and Senate tax-writing committees to be in the same room, much less share a stage. That’s the power of your NAM.

That study we released made the stakes clear.

• Failing to renew the 2017 tax reforms will cost America 6 million jobs, …
• ….including more than 1.1 million manufacturing jobs.
• The economy would suffer a $1.1 trillion hit.

And those numbers do not take into consideration any new price pressures from tariffs.

That’s not just economic data. That’s the difference between a worker getting a raise or losing a job, between a family affording a home or struggling to get by, between a school getting new resources or facing budget cuts.

In fact, the study specifically looked at worker wages—and found that more than $500 billion in worker pay is at risk. And that’s why the study is a powerful advocacy tool.

We have had a significant number of Republican Congressmen and Senators citing the data from our study. And I’ve had some off-the-record conversations with Democrats who want our help in doing better in this area.

But let’s go a step further. If the overarching goal is to increase production in the U.S., then let’s look at additional incentives that make manufacturing in America even more competitive.

President Trump has said he wants to get the corporate rate as low as 15%—which we suggested to him back in 2016 when I met with him at Trump Tower. He was excited about that suggestion then and embraced that goal when we helped his first White House team draft the bill.

So, we’re helping him get there now. And since they’ve put additional U.S. production incentives on the table, we will do everything in our power to make sure they work to every manufacturer’s advantage—and don’t come at the expense of our other priorities.

We are working to encourage Congress to think creatively so that both large corporations and pass-throughs get the full benefit of renewing expired provisions, like R&D expensing and interest deductibility as well as any new incentives.

That’s one way to get to a more commonsense, cohesive strategy.

Regulations

But of course, regulations are also part of the picture. Right now, manufacturers are spending $350 billion each and every year just to comply with federal regulations.

That’s about $50,000 per employee, per year at small manufacturers—according to our NAM study. That’s unsustainable.

We need more regulatory clarity and consistency. And we’re helping the administration achieve that objective.

They have already acted on many of the regulatory items on the roadmap we sent them during the transition. Like lifting the LNG export ban. That was a big Day One win for us. … Like rescinding problematic ESG standards at the SEC… That was another one.

These are good first steps. We need more of it—and the urgency grows by the day.

And when activist groups inevitably try to block the administration, the NAM Legal Center will be in court defending our progress.

Permitting and Energy

Perhaps nowhere is regulatory and permitting urgency greater than in the energy sector.

From pipelines to renewable energy … from critical mineral mines to hydroelectric and nuclear power plants … from interstate transmission lines to battery manufacturing and semiconductor fabs, … we are seeing opportunities for energy dominance fade in the face of a permitting process that takes 80 percent longer than other major, developed nations. Eighty. Percent. Longer. That is unacceptable.

Our view is that America should be the undisputed leader in energy production and innovation. The President agrees—he just established a new National Energy Dominance Council, whose mission is filled with NAM priorities.

Give us the tools, and manufacturers will make it happen.

Workforce

Of course, you can have the right tax policy, smarter regulation, faster permitting, and abundant energy, but without people, nothing gets done. We are, and always will be, a people driven industry, even as we lead at the cutting edge of AI.

Over the past year, we have averaged 500,000 open manufacturing jobs in America—good-paying, life-changing careers. And by the year 2033, we face a shortfall of 1.9 million manufacturing workers.\

That’s according to research from the NAM’s workforce and education affiliate, the Manufacturing Institute. They produced that study in partnership with Deloitte.

We’ve heard from all of you what works: apprenticeships, hands-on training, public-private partnerships—and making sure people can see the reality of manufacturing careers that make a difference for families, for communities and for our country.

And as Nick Pinchuk would remind us—those careers reward people with a sense of dignity and pride. That’s why manufacturers are increasingly turning to the Manufacturing Institute for workforce solutions.

On top of workforce programs and incentives, we also need to modernize our immigration policies. The President has focused on border security. Okay, but we have to go further, because without a functioning legal immigration system, one that is based on the economic needs of our nation, we will not reach our full potential or have a talent pool big enough to do the work ahead.

Trade

Uncertainty in workforce planning … it’s just as damaging as uncertainty in tax, regulatory, energy, permitting or trade policy.

Which brings us back to where we started: trade and tariffs….

Back in 2019, everyone who sat in the seats of this board of directors and our entire organization put our credibility on the line to support congressional passage of the USMCA at the request of the president and his administration. So it seems quite logical that we will defend the USMCA.

After all, it was one of President Trump’s signature achievements from his first term. We need to defend it because it prioritized manufacturing in the United States, it secured supply chains, and it strengthened our industry.

It pivoted production away from China to the North American continent … to the U.S. and our closest allies … and away from one of our fiercest competitors.

But we need more:

We need a trade policy that respects the manufacturing investments that we’ve made under the rules we were given.

Since the new world order involves tariffs, they need to start low, giving manufacturers in the United States time to adjust their investment and expansion strategies accordingly.

We are encouraging the administration to think about tariffs in the context of that comprehensive manufacturing strategy that I outlined…. A longer runway that incentivizes, … rather than penalizes … manufacturers… To prioritize leveling the playing field against market distortions like dumping, subsidization and the theft of intellectual property.

And, of course, any tariff policy should also have clear and reliable exclusions. And why is that?

Because of critical minerals and other industrial inputs, like chemicals and energy products, that simply cannot be sourced in the U.S. They need to be tariff-free—so supply chains are not disrupted and manufacturers are not penalized for inputs that simply do not exist domestically.

The administration has to recognize there could be scarcity and shortages until we get to the point where we produce more here.

For example, two-thirds of the primary aluminum we need today comes from Canada. So we’ll need a policy that ensures manufacturers who need that aluminum aren’t sidelined, a policy that prioritizes the needs of American manufacturing and your access to the inputs you need.

And here’s another imperative: we need more trade agreements that expand market access and that ensure fair competition—so that manufacturers in the U.S. can compete on a level playing field.

So again, maybe I’m sounding a little repetitious. But here’s the bottom line: A commonsense, comprehensive manufacturing strategy to align our trade policy with tax, regulatory, energy and workforce initiatives—so that manufacturers can plan, grow and succeed. Anything else creates a piecemeal approach that generates uncertainty … and uncertainty kills investment.

***

NAM Leadership

Now if you’re like a lot of our members, you probably have whiplash, going from one agenda in the White House to another … back to the other … over the past eight-plus years.

But the one thing that you can count on is this: the National Association of Manufacturers will always respond in the appropriate manner.

All of our work, as you well know, is based on policy, not on politics, not on personality and not on process. That imperative has not changed. And it will not change.

Our greatest asset is that virtually every politician, left or right, wants to see manufacturing succeed.

That’s because manufacturing’s success is about more than balance sheets and profits. These elected officials know it’s about individual families in their communities.

It’s about when that member of Congress walks down the street and sees that a new school has been built because of the economic might that a manufacturing facility has pumped into a town.

It’s what Kathy and I saw in Ohio as we kicked off this year’s Competing to Win Tour at Armstrong World Industries with the State of Manufacturing Address.

We visited Ohio, Texas, Alabama and Florida last week, and everywhere we went we were energized by what manufacturers are doing—from Freeport LNG … to Toyota … to Milo’s Tea … to Port Miami.

By the way, thank you, Tricia Wallwork, for the warm welcome outside Birmingham. Your passion and the company culture are so evident. And your tea, well, as I told you, it tastes just like my grandmother used to make.

And Chris Nielsen, you have a stellar team just outside Huntsville. Thank you, Toyota, for the incredible tour.

Thank you also to everyone who has already brought your story to Washington, DC, this year though powerful testimony before Congress…

Karl Hutter and Courtney Silver …. Barbara Humpton from Siemens … and Noah Hanners from Nucor.

And to all the board members whose companies were represented during our tax event with House leadership that Kathy recognized already … thank you again!

As members of the board, as leaders of the manufacturing ecosystem, you all have the power to use your voice to ensure that leaders on both sides of the aisle, in Congress, the White House and the agencies, make the right decisions.

…

That’s our job at the NAM … You invest in us to help you succeed, to help the industry succeed, to help our country succeed. Because when manufacturing wins, America wins.

And your investment matters even more. Because we live in a new reality, a new world order.

***

The Choice Before Us

More than three decades ago, the fall of the Berlin Wall harkened not only the collapse of an empire but the triumph of an idea. It was the vindication of freedom over oppression, of open markets over command economies, of democracy over dictatorship.

President Reagan had long called America the “last best hope of man on Earth,” and in that moment, history affirmed his words. The Soviet Union collapsed, and President George H.W. Bush spoke then of a “new world order,” a world where American leadership would usher in stability, prosperity, and global cooperation.

But the tides of history are restless.

Over the past three decades, new forces have emerged, reshaping the global order. China, once an economic understudy, now seeks to write its own rules for trade, technology, and security.

Russia, though diminished, wields disruption as a weapon, seeking relevance through aggression—and targeting democracy, not only in Ukraine but beyond.

And across the Middle East, regional actors assert themselves, untethered from the frameworks of the past.

The world is no longer defined by a single guiding force but by a contest of ambition, where nations pursue their own paths, and power is measured in economic strength as much as in military might.

So we stand at yet another inflection point. And our ability to lead in this new era will not rest on rhetoric but on action—on our capacity to build, to innovate, and to compete. A strong and dynamic manufacturing sector must be at the heart of that effort, ensuring that America remains self-reliant, yet engaged, in the world, prepared, and ready to meet the challenges ahead.

The question before us is not whether the world will change—it already has. The question is whether we will shape the future, or be shaped by it.

I know how I want to answer that question. And I sure hope everyone here would agree with me.

So thank you. I want to thank you for your leadership. I want to thank you for your vision. And as always, I want to thank you for your commitment to the success of this storied institution, the National Association of Manufacturers.

Bertha Ostiguin thought for years about going back to school. She had left the workforce to be a stay-at-home mom, and when she started working in production at H-E-B, she was still raising two boys at home. The idea of working part time while also studying and raising her kids felt daunting. But about six years into her manufacturing career at H-E-B, she joined the Advanced Manufacturing Technician program through TX FAME – Alamo in Alamo, Texas—more than 25 years after she was last in school.

“Honestly, I was scared that I wasn’t going to be able to make it,” said Ostiguin. “But it has been one of the best choices I’ve made. … I love it, I love what it does, and I cannot talk enough about it.”

The program: Founded in 2010 by Toyota and operated today by the Manufacturing Institute—the workforce development and education affiliate of the NAM—FAME aims to help students become highly skilled, sought-after workers capable of meeting the needs and challenges of the modern manufacturing sector.

• It provides current and aspiring workers with on-the-job training and classroom education, leading to an associate’s degree and the FAME certificate.

The opportunity: While Ostiguin was already several years into a manufacturing career, her experience at FAME has helped to expand her skillset, allowing her to advance her career at H-E-B and set herself up for greater success throughout her working life.

The benefits: In addition to teaching specific qualifications and in-demand technical skills, FAME helps to provide participants with the soft skills and professional behaviors they’ll need to succeed in today’s workforce, like communication. According to Ostiguin, it made her a better mentor to other people at work.

• “As I’m learning these things, I’m also teaching the young guys,” said Ostiguin. “And I would tell them, from my experience, why all this makes a difference.”

A model for others: In an industry that often has more men than women, Ostiguin saw early on that she was setting an example for others. She promised herself that she was going to finish the program—not just for herself and her sons, but for other women in manufacturing who might follow her lead. Ultimately, Ostiguin became the first woman from H-E-B to complete the FAME program, at the top of her class.

• “I started seeing the impact it was having for females, and how it wasn’t just about me anymore—it was about the bigger picture,” said Ostiguin.

A word of advice: Ostiguin is proud of what she has accomplished and encourages others to take advantage of opportunities to increase their knowledge and improve their skills.

• “Absorb as much as you can, and ask the questions that you have to ask,” said Ostiguin. “That’s the only way we’re all going to learn.”

From the MI: “FAME isn’t just transforming careers—it’s strengthening companies,” said MI President and Executive Director Carolyn Lee. “Bertha’s journey shows how investing in workforce development creates highly skilled employees who bring immediate value to their employers and themselves, creating a winning combination for long-term success.”

Biopharmaceutical company Lilly will build four new manufacturing sites across the U.S., it announced Wednesday at a Washington, D.C., press conference. The event was attended by NAM President and CEO Jay Timmons, Commerce Secretary Howard Lutnick, National Economic Council Director Kevin Hassett, Indiana Sen. Todd Young and Lilly Executive Vice President and President of Manufacturing Operations (and NAM board member) Edgardo Hernandez, among others.

What’s going on: Three of the planned manufacturing campuses will focus on producing active pharmaceutical ingredients, reshoring “critical capabilities of small molecule synthesis and further strengthening Lilly’s supply chain,” the company said in a press release. The fourth site will “extend [Lilly’s] global parenteral manufacturing network for future injectable therapies.”

• The investment in the four sites will bring Lilly’s total U.S. capital expansion commitment to more than $50 billion since 2020.
• Lilly—which in recent years has made $23 billion worth of investments in new research and manufacturing sites in the American South and Midwest—is in talks with several states about building the facilities there, but it is accepting additional expressions of interest from states until March 12.

The anticipated benefit: The four sites are expected to create more than 3,000 permanent skilled jobs and more than 10,000 construction jobs during building, according to the company.
 
The tax reform factor: Lilly’s planned expansion reflects “decades of research and dedication,” Timmons said at the event announcing the investment. It “is the culmination of sustained planning made possible by the certainty created through smart public policy—particularly the 2017 tax reforms that President Trump … championed back at a meeting of the NAM Board of Directors in September 2017.”

• Many of those manufacturing-critical reforms have been allowed to expire, however, and others will expire at the end of the year—unless Congress acts, and soon, Lilly Chair and CEO David Ricks said.
• “The Tax Cuts and Jobs Act legislation passed in 2017 during President Trump’s first term in office has been foundational to Lilly’s domestic manufacturing investments, and it is essential that these policies are extended this year.”

Keep the momentum going: Lilly’s announcement shows other manufacturers “exactly why [they] have reason for optimism and confidence,” Timmons went on. “But to keep this momentum going—to encourage more groundbreaking investments, more job creation and more life-changing innovation—a comprehensive manufacturing strategy must become the reality … because when manufacturing wins, America wins.”

The House late Tuesday approved a Republican budget blueprint for President Trump’s tax-cut and border-security agenda (Reuters, subscription).

• NAM President and CEO Jay Timmons called the move “a historic, pivotal step to[ward] advanc[ing] a comprehensive reconciliation package that will preserve” critical pro-manufacturing tax reforms and unleash “American energy dominance.”

What’s going on: “The measure is a preliminary step to extending Trump’s 2017 tax cuts later this year,” Reuters reports. “Tuesday’s vote sent the budget resolution to the Senate, where Republicans are expected to take it up.”

• The plan—which calls for $4 trillion to $4.5 trillion in tax cuts and $1.5 trillion to $2 trillion in spending reduction over 10 years—also includes measures to increase domestic energy development and production.

Why it’s so important: Congress must capitalize on the momentum of the budget resolution’s passage by preserving the crucial tax reform measures from President Trump’s 2017 Tax Cuts and Jobs Act, Timmons continued—because “[e]very day we wait means jobs and opportunity lost.”

• “As part of the comprehensive, commonsense manufacturing strategy that America needs, protecting tax reform will strengthen our industry and our communities. It’s time to continue this momentum and act now to Make America Great for Manufacturing Again. When manufacturing wins, America wins.”

What’s next: House Speaker Mike Johnson (R-LA) has said he anticipates passing the tax, energy, border-security and defense items via reconciliation by the first week of April.

“Humtown is more than just a business. It’s a legacy,” says CEO Mark Lamoncha. The 60-year-old Columbiana, Ohio–based metal casting company has had three generations of Lamoncha leaders, starting with Mark’s father, Russell, who founded it as a small pattern shop in 1959. Today, Humtown is able to keep that legacy alive—and growing—in large part due to tax policies that support innovation, investment and job creation.

The benefits: When tax reform introduced full expensing for capital expenditures and research and development in 2017, Humtown reinvested its tax savings in expanding its operations, hiring more workers and purchasing more equipment, Lamoncha told attendees at an event at the Ohio Statehouse, part of the NAM’s 2025 Competing to Win Tour.

• “Since the 2017 tax reform, Humtown has invested over $9 million in capital expenditures related to 3D printing and averages around $100,000 annually in R&D costs,” said Lamoncha, noting that a single 3D printer can cost upward of $1 million.
• “Under the 2017 tax reform, we were able to deduct 100% of those costs, generating around $1.6 million in accelerated tax savings. That amount alone allowed us to purchase another 3D printer,” he added.
• These investments represent a huge benefit not only to Humtown, but to the larger supply chain it serves. Thanks to 3D-printing toolingless technology, Humtown recently fulfilled an urgent order of essential parts from an EV manufacturer, which traditional tooling would not have produced in time. The result: “Their new product launched 22 weeks ahead of schedule—proving that smart tax investments drive real-world innovation and success,” said Lamoncha.

The threat: As these and other tax provisions get phased out, Humtown is facing a painful increase in costs. Already, it is paying an additional $365,000 in taxes, which is “cutting back on our ability to reinvest in our team, new equipment and our growth plans,” said Lamoncha.

• But the cost for the manufacturing economy is much greater, he pointed out. “Every day Washington delays a tax deal, businesses are forced to second-guess investments, hold back on hiring and rethink expansion plans. For a small or medium-sized manufacturer, that’s the difference between adding a new production line or standing still—and, for some, staying in business.”

The wider community: The threat to tax reform will not only harm Humtown, but prevent it from investing further in partnerships that benefit its entire community.

• Humtown partners with Youngstown State University to educate students in grades 4–12 about 3D printing. The company houses a 3D sand printer purchased through the Ohio Third Frontier Grant program that is used mainly for educational programming.
• In this “hands-on, peer-led learning experience,” students are taught both digital file creation and manufacturing processes, and then lead their peers through the factory as “career ambassadors,” Lamoncha explained. (Watch one 9th grade group’s experience here.)
• Initiatives like these prepare young people for stimulating, high-paying careers in manufacturing, while ensuring manufacturers have enough young workers to keep growing in the decades to come.

The bottom line: “[V]isionary leaders like Jay Timmons and the NAM team are fighting to restore U.S. manufacturing—moving us from just 10% of GDP back to 25% or more. But let me be clear: this won’t happen unless we align state and federal policies to make America the best place in the world to build, create and manufacture,” said Lamoncha.

• “We have the talent. We have the technology. And we have the opportunity. Now, we need the commitment.”

Washington, D.C. – NAM President and CEO Jay Timmons released the following statement on the passage of the House budget resolution:

“Today, the House has taken a historic, pivotal step to advance a comprehensive reconciliation package that will preserve President Trump’s job-creating tax reforms of 2017, while also unleashing American energy dominance.

“Manufacturers urge Congress to move with a sense of urgency. Every day we wait means jobs and opportunity lost. As part of the comprehensive, commonsense manufacturing strategy that America needs, protecting tax reform will strengthen our industry and our communities. It’s time to continue this momentum and act now to Make America Great for Manufacturing Again. When manufacturing wins, America wins.”

-NAM-

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 nearly 13 million men and women, contributes $2.93 trillion to the U.S. economy annually and accounts for 53% 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 NAM or to follow us on Twitter and Facebook, please visit www.nam.org.

After several grueling rounds of chemo, Lynn Simoncini found herself preparing for a mastectomy in November 2022. She searched for advice on online forums for breast cancer patients and came across a warning that surprised her—a major challenge for patients following surgery was the simple act of wearing a seatbelt.

When Simoncini was recovering from her own operation, she found this warning was correct. it was impossible to drive comfortably with a seatbelt pressing painfully against the surgical scar. She tried wrapping the belt in a hand towel, but it didn’t work very well; other patients also came up with makeshift solutions, but some just drove unsafely while holding their seatbelts away from their chests.

Unlike other patients, however, Simoncini was well-placed to find a solution. A creative director at VML who works on the Ford Motor Company account, she sketched out a design for a seat belt attachment that could be manufactured by the automaker. With the help of her writing partner and manager, she pitched the idea to Ford. The result: Ford’s recently released SupportBelt, now available to patients nationwide—for free. 

Ford takes it on: Ford, which has a 30-year history of supporting breast cancer patients through its Warriors in Pink program, was  incredibly receptive to Simoncini’s idea, she told us. The company gave her design to engineer Emily Obert, Ford’s manager of in-vehicle accessibility in digital product design, who began developing prototypes. 

The process: As Obert worked on the project with Simoncini’s help, they discovered that the need for this belt was considerable. First, oncologists told them that the inability to wear seatbelts was widespread among patients, which Ford had not known previously, Obert said.

• The patients that Obert interviewed also said that their chests were sensitive even during chemo and before surgery, and many still had some chest discomfort long after the operation. In addition, chemo ports are installed in the upper chest and can often make wearing a seatbelt uncomfortable.
• With 100,000 women undergoing mastectomies every year in the U.S., and many more undergoing other stages of treatment, the SupportBelt would be hugely helpful, Obert realized.

The innovation: The winning design is elegantly simple. A soft foam pad, hollow on the inside, rests against the chest underneath the seatbelt, which is secured to it by Velcro straps.

• The SupportBelt’s hollow pad gives it the flexibility to conform to different body shapes, and the soft foam alleviates the pressure on the sensitive area, Obert explained.
• The belt is slightly longer than a typical seatbelt attachment, which keeps its ends further away from the chest. It is also designed to cup the shoulder and reduce pressure on that area as well, which is also often sensitive following surgery.
• Lastly, the SupportBelt is crafted carefully so that the driver can move his or her head with ease and features leather accents that complement a car’s interior.

The launch: After the company completed testing, the SupportBelt was finally ready for production and distribution. This past October, patients began getting their belts—free of charge.

• Right now, the belts are only available to the U.S., and Ford is still fulfilling its first 2,500 orders. It has more belts available, however, and is gearing up for a next round of orders.

Attention, automakers: Ford has made the SupportBelt design open source, in the hopes that other automakers will make their own versions to blend in with their cars’ materials. “That’s my dream,” said Simoncini. 

The last words: Simoncini is glad that her teenage son got to witness the development of the SupportBelt, which became a source of inspiration and pride during a painful time in their lives. She says that the whole experience makes her especially proud to work with Ford, a company that “walks the walk.”

• “This got me to work every day” during her illness, she told us.

Read more, order here: If you want to learn more about the SupportBelt or order one, please go here.

Building permits inched up 0.1% in January but fell 1.7% over the year. Permits for single-family homes in January stayed the same from December but declined 3.4% over the year. Meanwhile, permits for buildings with five or more units fell 1.4% from December but rose 0.2% over the year.

In January, housing starts plunged 9.8% from December and slipped 0.7% from January 2024. Additionally, starts for single-family homes fell 8.4% from December and 1.8% from January 2024. Meanwhile, starts for buildings with five or more units decreased 11.0% from December but improved 2.3% over the year.

On the other hand, housing completions increased 7.6% over the month and 9.8% over the year. Single-family home completions grew 7.1% from December and 8.9% from January 2024. Completions for buildings with five or more units grew 10.1% over the month and 11.8% from one year ago.

Existing home sales decreased 4.9% in January, but improved 2.0% from January 2024, the fourth consecutive monthly year-over-year increase. Housing inventory grew to 1.18 million units, reflecting a 3.5% rise from December and a 16.8% jump from last year. The median existing home price was $396,900, up 4.8% from last year, with all four U.S. regions reporting price increases.

Single-family home sales fell 5.2% in January, with the median price increasing 5.0% from January 2024 to $402,000. Condo and co-op sales slipped 2.4% to 400,000 units in January, identical to the sales level from the previous year. Meanwhile, the median price rose 2.9% from the prior year to $349,500.

Homes were typically on the market for 41 days in January, up from 35 days in December and 36 days in January 2024. First-time buyers made up 28% of sales in January, down slightly from 31% in December but unchanged from January 2024. All-cash sales accounted for 29% of transactions in January, up from 28% in December but down from 32% in January 2024. Meanwhile, investors or second-home buyers represented 17% of homes purchased in January, up from 16% in December and the same as January 2024. Distressed sales, including foreclosures and short sales, represented 3% of purchases in January, virtually unchanged from December and the previous year.

The S&P Global Flash U.S. Manufacturing PMI rose slightly from 51.2 in January to 51.6 in February, the sharpest increase since June. Factory production grew for the second consecutive month and at the steepest rate in nearly a year. On the other hand, growth in new orders and employment weakened. Meanwhile, supplier delivery times lengthened for the fifth consecutive month but at the slowest rate since October, indicating busier supply chains.

Overall business sentiment slumped to its lowest point since December 2022, with the exception of last September amid preelection uncertainty. After a post-election boost, optimism has again deteriorated in response to uncertainty regarding federal spending cuts and tariffs. Businesses also expressed concern about higher prices amid manufacturing seeing the largest monthly gain in raw material prices since October 2022. On the other hand, optimism in manufacturing remained elevated compared to recent standards, though it fell from January’s 34-month high.