From: Industry Market Trends/Thomasnet
The number and complexity of federal regulations affecting manufacturers continue to grow, placing a heavy financial burden on the sector, according to a recent study by the Manufacturers Alliance for Productivity and Innovation (MAPI). Manufacturing advocates say a more transparent and better-coordinated regulatory regime, along with increased cost-effectiveness, could significantly reduce the drag on productivity.
MAPI study states that the costs of federal regulations for the U.S. manufacturing sector have increased an average of 7.6 percent annually since 1998, while output in the sector has only grown 0.4 percent yearly during the same period. Since 1981, federal agencies have released 2,302 regulations that affect manufacturers, of which 270 have an individual economic effect of $100 million/yr or more.