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Briefing for aerospace industry
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Briefing for aerospace industry

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The US aerospace industry is losing its global competitiveness due to the lack of engineers with US citizens. We should work to drive more recruitment from the rising minority populations to ensure …

The US aerospace industry is losing its global competitiveness due to the lack of engineers with US citizens. We should work to drive more recruitment from the rising minority populations to ensure national competitiveness moving forward, starting in the Caribbean island of Puerto Rico.

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  • “Nearshore to the USA” is a new option that couples the advantages of nearshoring technology development (access to new talent pools at competitive rates) with the benefits of operating on US soil (US constitution, US citizenship). This is a new offer and idea!
  • http://www.aia-aerospace.org/assets/speech_08212009_rockwell_collins_engineering_experiences.pdf
  • http://farm1.static.flickr.com/216/502255276_c29cf5aa70.jpg
  • http://wikitravel.org/shared/Image:Puerto_Rico.PNGhttp://wikitravel.org/upload/shared/d/de/Flag_of_the_United_States.png
  • http://accounting.smartpros.com/x61366.xml
  • In this regard the quote from adman Theodore Levitt is telling…we are both in the same boat…

Transcript

  • 1. Nearshore to the USABriefing for the U.S. Aerospace Industry Marcos Polanco Managing Principal Clearshore Management Services www.clearshore.us November 6, 2009
  • 2. Where will our talent come from? “…within 10 years half of the workforce [of many AIA members] will be eligible for retirement. And while the U.S. graduates approximately 70,000 engineers each year, only 44,000 are qualified for aerospace careers…the talent pool is limited because of the requirement for security clearances, which non-U.S. citizens can’t obtain.” - Marion Blakey, AIA CEO, August 2009Source: www.aia-aerospace.org
  • 3. Aerospace Industry Behind STEM
  • 4. Puerto Rico!
  • 5. Puerto Rico : Nearshore to the USA•1898: U.S. Constitution•1917: U.S. Citizenship•3.94 million people•89.7 billion dollar G.D.P.•KPMG’s #1 cost competitivelocation in the United States•5,464 STEM degrees / year
  • 6. Aerospace in Puerto RicoCompany Launch Jobs Operation TypeHoneywell Aerospace 2006 973 Shared ServicesEssig Research 2006 100 Engineering ServicesPratt & Whitney / Infotech 2003 600 Engineering ServicesPratt & Whitney / HCL Axon 2008 300 IT ServicesLockheed Martin 2008 60 IT ServicesLockheed Martin / UPR 2007 6 Applied R&DFlorida Turbine Technologies 2006 25 Applied R&DCascades Technologies 2007 30 Software DevelopmentNational Science Foundation / UPR Engineering ResearchTotal 2,088 $100M industry
  • 7. Abundant Talent Source• 14th & 15th largest undergraduate ASEE 2008 Rankings engineering programs nationwide• UPR-Mayagüez by degree awards: – 2nd (tied) in chemical engineering – 10th in computer engineering – 14th in industrial engineering – 18th in electrical engineering
  • 8. Compensation ComparisonElectrical Engineer I San Juan, PR Tucson, AZBase Salary $44,154 $54,292Bonuses $358 $441Social Security $3,405 $4,187401k / 403b $1,602 $1,970Disability $445 $547Healthcare $5,722 $5,722Pension $2,048 $2,518Time Off $5,821 $7,157Total $63,555 $76,835 Source: Salary.com
  • 9. Leveraging Puerto Rico’s IncentivesCorporate Investment IncentiveDividend Taxes 0%Income Taxes 4% rate (general case)Supplies 25% tax credit for local goodsR&D 50% R&D tax creditTraining 50% (max) cost reimbursement (WIA)Salaries Up to $5K per job in 1st yearUtilities 50% renewable energy tax creditEquipment 100% 1st year deductionInfrastructure 50% (max) matching funds (PRIDCO)Lease $3-$6/sq.ft. (PRIDCO)Financing Tax-exempt debt securities
  • 10. Puerto Rico: Nearshore to the USAClearable TalentFinancially AttractiveProven by Industry
  • 11. Clearshore: Our Partner in Puerto Rico
  • 12. Marcos PolancoManaging Principalmarcos.polanco@clearshore.us787.529.5892clearshore.ustwitter.com/clearshore