Science and technology help create millions of high-skill, high-wage jobs that support a strong U.S. economy and enhance American quality of life. There is abundant evidence that over the long term, the great majority of newly created U.S. jobs have been the indirect or direct result of advancements in science and technology.
The world is now a much more competitive place than it was even 10 years ago. Only two of the top ten chemical companies with the highest R&D investments are U.S.-based companies. And yet, the nation’s chemical industry is a $674 billion enterprise that generates nearly 11 percent of all U.S. patents. Deloitte anticipates that, even in a “worst-case” economic scenario for the coming decade, “the demand for innovative uses for chemicals and chemical-based products will remain strong.”
The scientific and technological innovation that underpins our economic competitiveness results from sustained investments in scientific research and in a strong educational system. To complement this technological advancement, our nation’s business laws, tax code, trade policies, and regulatory environment should work together to assure that the products of U.S. science and technology companies can be introduced to the international marketplace competitively and without facing inappropriate barriers. The United States should be the most welcoming place to start, maintain, or expand science- and technology-based activities.
Historically, the largest employers of chemists have been large, publicly owned chemical companies. Increasingly, small businesses and entrepreneurs are becoming essential contributors to the chemistry economy and a growing factor in the chemistry employment picture. By fostering the domestic expansion of existing companies and development of small businesses that can be centers of job creation, the chemistry enterprise not only improves its own prospects, but helps raise the fortunes of the entire nation.
The federal government should create a policy environment conducive to business development at all levels that would aid the chemistry enterprise in creating and commercializing new products and services here in the United States. These products and services would help strengthen our existing industry and help nucleate new industries, thus supporting new and sustainable science-based jobs.
ACS supports efforts to foster U.S. corporate tax and trade policies that will make American firms competitive with our international rivals by
ACS supports reforms to the U.S. patent and intellectual property framework that will promote, not impede, innovation by
ACS supports policies to improve technology transfer and commercialization of breakthroughs spurred by federal research investments by
ACS supports policies that foster the growth of small research and development businesses and encourage entrepreneurship by