On May 15th, 2013, Danko Arlington was extremely honored to host a group from the Federal Reserve Bank of Richmond, including Bank President, Jeff Lacker.
The Federal Reserve Bank of Richmond is one of the twelve regional Federal Reserve banks. Its territory includes South Carolina, North Carolina, Virginia, most of West Virginia, and Maryland. In addition to having its headquarters in one of the tallest buildings in Virginia, the Federal Reserve Bank of Richmond also has offices in Charlotte and Baltimore.
President Woodrow Wilson founded the Federal Reserve banking system in 1913 to regulate inflation and grow our financial system. From time to time, the officers of each Regional Bank travel within their communities to discern local economies.
The theme of this year’s trip was additive manufacturing. Danko Arlington’s pioneering use of 3-D printing for creating foundry patterns caught the attention of the Andy Bauer, Senior Regional Economist in the Baltimore area. In addition to touring Danko Arlington, the Bank officers visited The Object Lab @ Towson University – a first of its kind educational 3-D printing lab in the Mid-Atlantic area.
Later in the day, the Bank hosted a round table discussion at its Baltimore office. The participants included bank officers and representatives from eight other Baltimore businesses who have adopted additive manufacturing. During the discussion, each of the invited manufacturers explained the powerful impact that this new technology has on their business.
The unlimited potential of 3-D printing now enables manufactures to create unique designs, offer product customization, and rapidly bring goods to market. These new abilities will undoubtedly create prospects for hot economic growth – something that the Federal Reserve Bank will continue to monitor with increasing interest!