When Hyosung bought the company in 2006, there were about 175 local employees.Of course. The goods produced by this company are bought directly or indirectly everyday by American consumers or companies ... but if they can be "more efficiently" produced overseas, why produce them in America . . . especially when America lets them be sold here?
“Unfortunately, we have to be reactionary in this process,” said Randall Soggs, Utica economic development commissioner. “That’s the least desirable position we can be in.” . . .
“I was told that this has to do with excess capacity within their system,” Soggs said. “This decision was made in Korea, and it’s reflective of the company wanting to reduce their manufacturing footprint in the U.S.”
Is it only coincidence that this announcement comes on the eve of Congressional Republicans and the President pushing another Free Trade Deal . . . now with Korea?
Why are we SO CONCERNED about opening up foreign markets to our goods, when our markets are saturated by foreign products.
It's interesting that the Utica Master Plan parrots the consensus that manufacturing is dead and that our future is in "service" or "knowledge" industries. Poppycock! Its this plain acceptance of this notion that has gotten us in trouble.
We depend on manufactured items every day. The need for manufacturing never will go away. The question is do we do it here to meet our own needs? Or do we depend upon other countries to do it for us . . . making us dependent upon them much like a colony depends on the motherland.
I'm not going to go into the economic theory today. We've seen the results of it. Free trade does not work when there are cultural differences. And I don't think many are ready to give up their American culture . . . at least not yet.