Triple Play is a weekly NJBIZ feature that asks top executives in New Jersey to talk about three things related to their industry.
Steven Goldthwaite is chairman and CEO of Metem Corporation, a manufacturer of turbine engine components headquartered in Parsippany. He is also a statewide leader in the Boy Scouts and an enthusiastic proponent of a manufacturing renaissance.
We asked Steven for three thoughts on the future of manufacturing in New Jersey:
Innovation: New Jersey has a bright future in manufacturing for many reasons. First and foremost, we have many innovative companies and well-educated workforces. We have more scientists and engineers per square mile than any place on earth. In today's manufacturing, especially at the high end, these attributes are essential to success and give us strong competitive advantages.
International: Successful manufacturers think globally. Even small, entrepreneurial companies can and should today serve customers worldwide. The Port of New York and New Jersey is the busiest maritime center on the East Coast. This and our technical know-how are a powerful combination for manufacturing growth.
Energy Costs: Lower energy costs, particularly electricity costs, are an important stimulus. We need to harvest its vast natural gas resources and transition to this lower-cost power source.