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Innovation and the Economy

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AlPatrick Kennedy, Founder and CEO of OSIsoft LLC.

Guest blog post by Patrick Kennedy, Founder and CEO of OSIsoft LLC.

ED Note:OSIsoft LLC produces the PI System, the world leading product for managing and monitoring real time information supporting quality, energy management, safety and other productivity applications. It is an 850 person software company that builds industrial software for monitoring manufacturing and one of the winners of the President’s E-Awards in 2012. OSIsoft LLC was founded in 1980 and has grown to operate in 110 countries and, in the last five years, exported over $0.5 Billion in software.

Manufacturing must be a part of a healthy economy in the US because it not only creates a lot of value add, but is nearly the only route that puts everyone to work, not just computer scientists. How do we do this?  As Dr. Michael Porter of Harvard noted, innovation -> jobs and productivity -> higher wages and the strength of the US for both of these is software.  Most new manufactured goods that are candidates for production in the US are software based (e.g. electric cars, grid storage systems, virtual power plants, photography, animation, health care instrumentations, real time tracking) and the addition of a Patent and Trademark office to Silicon Valley represents a boost to this idea.  Patents not only protect Intellectual Property they convert it to a product that you can sell worldwide to support the economy.

I am a personal believer in this, plus I believe that we have to help ourselves, not just wait for the next program. This is a private-public partnership. I am personally pulling a 12-mile loop of fiber optic cable around my city, San Leandro, to allow it to participate in software based manufacturing in the age of Big Data and rapidly changing software infrastructure (see www.litsanlenadro.com), but will be using some of the Economic Development Grant programs to extend this deeper into the community.  Providing up to 10 Gbps pipes to business is a strong advantage to people that want to envision and experience the next generation software. The Silicon Valley already receives 1 of every 10 patents granted in the US and with our enhanced broadband, wireless, software talent and strong financial community, we will host the innovation required to re-enter manufacturing of next generation product in healthcare, energy conservation, mobility and transportation. The SF Bay Area is the heart of the software industry in the world and we want to leverage this for job creation.

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Manufacturing

Yes, software may be one of the avenues to retaining job in the United States. However, all sectors are necessary for a healthy economy. My company manufactures wood window shutters in the United States while others move to China in favor of cheaper raw materials and labor. We as American need to hold firm across the board.