Pratt & Whitney's Jay DeFrank, vice president, Communications and Government Relations, participated in the Brookings Institute's panel discussion titled "The American Economic Recovery and the Defense Industry," held earlier today in Washington, D.C.
In discussing the effects of sequestration on the defense industry, DeFrank noted how the services are reducing flying hours, grounding fleets, and moving overhauls out in time. He also highlighted the impact it has on suppliers, many of whom are small businesses, and the cascading effect it causes local communities.
For instance, DeFrank noted that the uncertainty caused by sequestration has forced many in the supply base to delay decisions in hiring and making capital investments, while others are seeing investments that have not paid off yet due to program delays and cuts
DeFrank was joined on the panel by Nelson Ford, president and CEO, LMI Government Consulting; Mackenzie Eaglen, resident fellow in the Center for Security Studies at the American Enterprise Institute; and Richard Bush III, director of the Center for Northeast Asian Policy Studies at Brookings. Bruce Katz, vice president and director of the Metropolitan Policy Program at Brookings, and author of "The Metropolitan Revolution" was the event's keynote speaker.
The Brookings Institution is a nonprofit public policy organization based in Washington, D.C. Its mission is to conduct high-quality, independent research and, based on that research, to provide innovative, practical recommendations that advance three broad goals: Strengthen American democracy; Foster the economic and social welfare, security and opportunity of all Americans; and Secure a more open, safe, prosperous and cooperative international system.