The FY2014 Federal Government Budget was released by the Executive Branch and sent to the Legislative branch on April 10, 2013. The budget proposal is 244 pages long. President Obama indicated that this budget proposal was geared to make America a magnet for new jobs and manufacturing. So what does that mean and how will that create opportunities? I want to explore a little of that here.
I talked a little bit about the President's proposed budget and opportunities in the Department of Defense a couple of weeks ago. To expland on that, here are the defense opportunities from a top level of this proposed budget:
The President also explains that this budget proposal includes elimination of many of the tax incentives that caused jobs to be moved off American soil. There is also a tax incentive proposed for businesses that hire new workers or increase pay for workers. There are other incentives, such as building up the infrastructure (roads, bridges, etc.) to facilitate business. There is a focus on education to build up our future workforce as well.
Here are some of the opportunities in Agencies other than the Department of Defense:
You can view the full budget here to see more specifics and details in areas I've outlined above. I think there has been a lot of talk about how the Federal Government is no longer a good customer for business. I don't think that is fair. The Federal Government is re-adjusting (following a period of spending to support domestic programs as well as a major military effort) but we have seen this many times before in history. The government still needs goods and services and still desires to purchase them from private industry where economical. In most cases, private industry will be the most economical source. There may be a shift in what is purchased during this period but the government will still spend very close to the same amount of money (as we can see above). If you have difficulty in finding where to shift your marketing efforts, give me a call. I'll be glad to discuss it with you.