In his office in BC, Jay Venor runs a complex set of businesses. Sometimes, he helps corporate clients in the capital markets, helping them to raise money or invest their profits wisely. Other times, he helps corporate clients to restructure their managerial styles and structures in order to boost their profits through increased efficiency. In this work, Jay Venor has interacted with the manufacturing sector multiple times, and he's developed a very nuanced opinion about the role these sorts of companies play within the economy as a whole.
News reports often indicate that manufacturing is leaving the North American continent. In BC, Jay Venor says, manufacturing plants have closed, and this is a trend that's been repeated throughout the United States and Canada. When manufacturing plants close their doors, it can have a huge impact on the local economy, as hundreds or even thousands of people could lose their jobs all at once, and they may put a huge strain on local resources as they pull on unemployment benefits and charity organizations in order to stay afloat.
But, according to Jay Venor, many other manufacturing plants are staying operational in the United States and Canada, and they're doing it in a unique way. These companies are tapping into new technologies that can reduce downtime and inefficiencies in a manufacturing plant. Instead of paying a worker to do the same menial task, over and over, these companies teach employees to operate sophisticated computer-driven machines, which can work twice or even three times as fast as a human. The worker becomes more technologically savvy, and the company becomes more efficient. Everyone wins in this scenario.
Jay Venor, BC businessman, hopes that more manufacturing companies will follow this same plan, keeping their doors open and their workers employed while they retrofit for the new equipment. It's the best way to ensure that these good jobs stay within the North American continent.
