3D Printing and the Renaissance of Local Economies

by Benesch
Contact

The rise of 3D printing holds tremendous potential to impact the economy from the local to the national level. Although it is still an estimated five to 10 years away from mainstream consumer adoption, we are already seeing notable examples of businesses leveraging the technology, including giants like UPS, GE and Home Depot.  Adoption of 3D printing will continue to rise, particularly among manufacturers – an estimated 67% of which are already using the technology – as costs fall.

Over the next five years, it is expected that 3D printing will become 50% cheaper and up to 400% faster. The technology presents opportunities for building national economies—particularly those that have seen significant losses in manufacturing.  It also builds on “the shift to local” by offering small businesses the ability to manufacture goods locally or even onsite, thereby incurring lower costs, streamlining processes and offering greater customization.  Further, entrepreneurs can now be manufacturers, eliminating the need for the warehousing and distribution of products and parts, and reducing reliance on the outsourcing of manufacturing to large centralized plants, often located offshore.

While traditional subtractive manufacturing is not going to disappear overnight, smaller enterprises can leverage 3D printing today to obtain the advantages of a technology that is driving customization and innovation and fueling a manufacturing renaissance.

The technology will have specific impact on entrepreneurial activities in local economies, especially as “makerspaces” spring up in places in Ohio and other places such as Greenville, South Carolina and Pittsburgh, Pennsylvania.  These spaces help makers, designers, creators and entrepreneurs make their ideas a reality, translating them into a tangible, manufactured item.  3D printing is fueling this “maker movement,” making the tools to build enterprises more accessible and changing how companies are formed, while simultaneously spurring notable developments in manufacturing.

In Ohio, the impact of 3D printing will be aided by further state funding to help manufacturers adopt the technology, providing a competitive advantage on the national stage. Manufacturing remains particularly vital to Northeast Ohio’s economy, with technologies like 3D printing providing stimulating career choices and supporting the region. Northeast Ohio has experienced an 18% growth in employment, as well as gross regional product growth of 40%. The region is unique due to how it has embedded IT into its strong focus in manufacturing and professional services. The region is actively supporting startups with resources such as incubators to help young companies get established. There’s also a strong commitment to encouraging youth and STEM education, providing tools such as 3D printers to encourage project-based learning and spur innovative ideas. 

Across other parts of the state, economic growth is being driven by advanced manufacturing, biohealth and technology sectors – all prime sectors for 3D printing adoption. The first FDA approved 3D printed drug will be manufactured in Blue Ash, Ohio.

There is an opportunity for local economies across the U.S., including Northeast Ohio, to get in front of this developing technology, fostering an environment that supports not only the development of the technology, but its usage as well.

There will be a panel wholly focused on growing 3D printing in Northeast Ohio at our April 21, 2016 conference at the Ritz Carlton in Cleveland, Ohio.

Almost every business doing long-term planning should be thinking about 3D printing and the impact it will have on its business.

3D Printing has the potential to revolutionize the way we make everything.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Benesch | Attorney Advertising

Written by:

Benesch
Contact
more
less

Benesch on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
Privacy Policy (Updated: October 8, 2015):
hide

JD Supra provides users with access to its legal industry publishing services (the "Service") through its website (the "Website") as well as through other sources. Our policies with regard to data collection and use of personal information of users of the Service, regardless of the manner in which users access the Service, and visitors to the Website are set forth in this statement ("Policy"). By using the Service, you signify your acceptance of this Policy.

Information Collection and Use by JD Supra

JD Supra collects users' names, companies, titles, e-mail address and industry. JD Supra also tracks the pages that users visit, logs IP addresses and aggregates non-personally identifiable user data and browser type. This data is gathered using cookies and other technologies.

The information and data collected is used to authenticate users and to send notifications relating to the Service, including email alerts to which users have subscribed; to manage the Service and Website, to improve the Service and to customize the user's experience. This information is also provided to the authors of the content to give them insight into their readership and help them to improve their content, so that it is most useful for our users.

JD Supra does not sell, rent or otherwise provide your details to third parties, other than to the authors of the content on JD Supra.

If you prefer not to enable cookies, you may change your browser settings to disable cookies; however, please note that rejecting cookies while visiting the Website may result in certain parts of the Website not operating correctly or as efficiently as if cookies were allowed.

Email Choice/Opt-out

Users who opt in to receive emails may choose to no longer receive e-mail updates and newsletters by selecting the "opt-out of future email" option in the email they receive from JD Supra or in their JD Supra account management screen.

Security

JD Supra takes reasonable precautions to insure that user information is kept private. We restrict access to user information to those individuals who reasonably need access to perform their job functions, such as our third party email service, customer service personnel and technical staff. However, please note that no method of transmitting or storing data is completely secure and we cannot guarantee the security of user information. Unauthorized entry or use, hardware or software failure, and other factors may compromise the security of user information at any time.

If you have reason to believe that your interaction with us is no longer secure, you must immediately notify us of the problem by contacting us at info@jdsupra.com. In the unlikely event that we believe that the security of your user information in our possession or control may have been compromised, we may seek to notify you of that development and, if so, will endeavor to do so as promptly as practicable under the circumstances.

Sharing and Disclosure of Information JD Supra Collects

Except as otherwise described in this privacy statement, JD Supra will not disclose personal information to any third party unless we believe that disclosure is necessary to: (1) comply with applicable laws; (2) respond to governmental inquiries or requests; (3) comply with valid legal process; (4) protect the rights, privacy, safety or property of JD Supra, users of the Service, Website visitors or the public; (5) permit us to pursue available remedies or limit the damages that we may sustain; and (6) enforce our Terms & Conditions of Use.

In the event there is a change in the corporate structure of JD Supra such as, but not limited to, merger, consolidation, sale, liquidation or transfer of substantial assets, JD Supra may, in its sole discretion, transfer, sell or assign information collected on and through the Service to one or more affiliated or unaffiliated third parties.

Links to Other Websites

This Website and the Service may contain links to other websites. The operator of such other websites may collect information about you, including through cookies or other technologies. If you are using the Service through the Website and link to another site, you will leave the Website and this Policy will not apply to your use of and activity on those other sites. We encourage you to read the legal notices posted on those sites, including their privacy policies. We shall have no responsibility or liability for your visitation to, and the data collection and use practices of, such other sites. This Policy applies solely to the information collected in connection with your use of this Website and does not apply to any practices conducted offline or in connection with any other websites.

Changes in Our Privacy Policy

We reserve the right to change this Policy at any time. Please refer to the date at the top of this page to determine when this Policy was last revised. Any changes to our privacy policy will become effective upon posting of the revised policy on the Website. By continuing to use the Service or Website following such changes, you will be deemed to have agreed to such changes. If you do not agree with the terms of this Policy, as it may be amended from time to time, in whole or part, please do not continue using the Service or the Website.

Contacting JD Supra

If you have any questions about this privacy statement, the practices of this site, your dealings with this Web site, or if you would like to change any of the information you have provided to us, please contact us at: info@jdsupra.com.

- hide
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.