American Manufacturing Renaissance Act

This bill, titled the American Manufacturing Renaissance Act, aims to revitalize American manufacturing by establishing a non-profit Corporation within the Department of Commerce. This Corporation is tasked with developing and monitoring a comprehensive national manufacturing strategy. Its primary function involves overseeing local multi-stakeholder Manufacturing Renaissance Councils (MRCs) to implement the strategy and address critical issues.

The Corporation is mandated to set national strategic objectives for the manufacturing industry every four years, emphasizing equity and inclusion. Key goals include manufacturing representing 20 percent of gross domestic product by 2035, achieving net-zero greenhouse gas emissions sector-wide by 2030, and ensuring diverse ownership and balanced geographic development. The bill also seeks to support employee ownership and close identified skills gaps in the sector.

Within five years of enactment, the Corporation will establish 30 MRCs through a competitive bid process. These MRCs are designed as multi-stakeholder bodies, including representatives from manufacturers, labor, community organizations, educators, local government, and environmental groups. They are responsible for designing and implementing programs tailored to regional needs, aligning with the national manufacturing strategy, and submitting annual reports to the Corporation.

MRCs will receive grants to fund diverse programs, such as building capacity for anchor institutions to source locally and establishing early warning systems to support at-risk companies. They will also develop ownership succession strategies focused on worker, minority, and women ownership, and facilitate capital access through publicly owned financial institutions. Additionally, MRCs will create education infrastructure and training services to close skills gaps and provide wraparound services like childcare and transportation, alongside targeted equity support for nontraditional manufacturing populations.

The Corporation will be governed by a Board of Directors comprising federal officials and representatives from various sectors, including labor, education, business, faith, racial justice, and environmental organizations. The bill authorizes appropriations of $4 billion annually for fiscal years 2026 through 2028 to fund these initiatives, with a portion dedicated to grants for MRCs and a training and leadership development institute.