Endowment to America’s Only Textile College Recognizes Importance of U.S. Manufacturing

Cathalijne Adams

Cathalijne Adams Researcher and Writer, AAM

With 700 textile manufacturing facilities and over 35,000 workers, North Carolina’s textile mill industry is one of the largest in the U.S., a reputation that North Carolina State University’s College of Textiles has helped build since 1899. 

Thanks to a former student's generous donation, the college continues to serve as a hub for cutting-edge textile research and development, and as a supplier of workforce talent. 

The school announced a $28 million gift, the largest gift in the college’s history, from alumnus Frederick Eugene Wilson Jr. and his family on Nov. 2. In the family’s honor, the school was renamed the Wilson College of Textiles. 

Wilson emphasized that his gift demonstrates his faith in the future of U.S. manufacturing:

“When we were talking to the chancellor about the college and about it being the only college of textiles remaining in the U.S., a light bulb really went off. Somebody’s got to draw a line in the sand. We’ve got to remember what got us here and recognize where we can go in the future. I’m happy that we could be the ones to do that.”

The Wilson College of Textiles is the only American college exclusively dedicated to the study of textiles and frequently partners with manufacturers and federal agencies, sponsoring the growth of manufacturing jobs throughout the state and country.

“The Wilson family’s donation will benefit not just North Carolinians, but the entire U.S. textile supply chain,” National Council of Textile Organizations Chairman and North Carolina State University graduate Marty Moran said.  

Though the exodus of manufacturing from America in past decades led to the shutdown of many U.S. textile companies, new technology has made domestic manufacturing more and more attractive. In 2017, the U.S. textile industry supply chain employed 550,500 workers and was the fourth-largest exporter of textile-related products in the world.

A resurgence of textile manufacturing appears close at hand, but training and research centers like the Wilson College of Textiles will play a critical role in ensuring future growth.

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Reposted from AAM

Posted In: Allied Approaches, From Alliance for American Manufacturing

Union Matters

America’s Wealthy: Ever Eager to Pay Their Taxes!

Sam Pizzigati

Sam Pizzigati Editor, Too Much online magazine

Why do many of the wealthiest people in America oppose a “wealth tax,” an annual levy on grand fortune? Could their distaste reflect a simple reluctance to pay their fair tax share? Oh no, JPMorganChase CEO Jamie Dimon recently told the Business Roundtable: “I know a lot of wealthy people who would be happy to pay more in taxes; they just think it’ll be wasted and be given to interest groups and stuff like that.” Could Dimon have in mind the interest group he knows best, Wall Street? In the 2008 financial crisis, federal bailouts kept the banking industry from imploding. JPMorgan alone, notes the ProPublica Bailout Tracker, collected $25 billion worth of federal largesse, an act of generosity that’s helped Dimon lock down a $1.5-billion personal fortune. Under the Elizabeth Warren wealth tax plan, Dimon would pay an annual 3 percent tax on that much net worth. Fortunes between $1 billion and $2.5 billion would face a 5 percent annual tax under the Bernie Sanders plan.

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No Such Thing as Good Greed