In Chicagoland, most owners of manufacturing companies are not only white but at the age of retirement and lacking succession plans. The owners' kids don't want to take over, or they don't have the skills to. The likeliest fate for these businesses is to be bought by private equity firms that fire the employees, sell off some assets and move on, meaning a huge loss of jobs and revenue in the region.
Imported from the CTE archive to seed discussion on MFGAxis.
Originally published on CTE: 2019-03-13
CTE source: https://ctemag.com/news/saving-manufacturing-jobs-boosting-entrepreneurial-opportunity-chicagoland/
Legacy path: /saving-manufacturing-jobs-boosting-entrepreneurial-opportunity-chicagoland