Defense Industrial Base Task Force Meets with Sec. Panetta

Jul 23, 2012, 18:51 ET from Aerospace Industries Association

Joint Statement by AIA, NDIA and PSC

ARLINGTON, Va., July 23, 2012 /PRNewswire-USNewswire/ -- Leaders of the defense industrial base task force, organized by the Aerospace Industries Association, the National Defense Industrial Association and the Professional Services Council met with Secretary Panetta and senior members of his acquisition and budget team today to discuss the severe consequences of sequestration on our industrial base and national security. The companies represented were large and small, and there was agreement between the CEOs and the Secretary that sequestration will do tremendous harm to domestic and national security programs across the board.

The meeting continues a regular dialogue between DOD leaders and defense industry CEOs and their representative industry associations. Industry leaders emphasized the negative impact that uncertainty surrounding implementation of sequestration cuts is already having on business, slowing hiring, infrastructure investment and R&D spending throughout the supply chain.

Secretary Panetta told industry representatives that his focus continues to be on preventing sequestration by urging Congress to achieve responsible deficit reduction. Industry leaders were encouraged that maintaining a strong, vibrant and innovative defense industrial base is one of his top long-term strategic priorities as Secretary of Defense.

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Founded in 1919 shortly after the birth of flight, the Aerospace Industries Association is the most authoritative and influential trade association representing the nation's leading manufacturers and suppliers of civil, military and business aircraft, helicopters, unmanned aircraft systems, space systems, aircraft engines, homeland and cybersecurity systems, materiel and related components, equipment services and information technology.

SOURCE Aerospace Industries Association