Fast Facts in Five: Manufacturing
Posted on November 13th, 2015

Few realize the impact the manufacturing industry has on the U.S. economy - it is truly a dynamic sector. Not only is manufacturing important for jobs and production, but the vitality of this sector is essential to meeting national challenges, including rebuilding U.S. infrastructure, reducing greenhouse gas emissions and lowering the nation’s reliance on fossil fuels. Here are some interesting facts about the industry you may not know.


To Reshore or Offshore - That Is the Question
The U.S. has become an increasingly attractive place to be due to its cheap and plentiful natural gas supply. In 2016, it is expected that the greatest reshoring efforts will occur in industries like chemicals and metal, both primary manufacturing and fabrication due to their reliance on natural gas as a raw material.

Business Is Booming in These Boomtowns
The large metro areas with the most momentum in expanding their manufacturing sectors include Houston, Texas; Seattle, Washington; and Oklahoma City, Oklahoma. They are also generating the most jobs.

Food and Beverage Is Where It’s At
This industry has the largest percentage of the 12 million jobs in manufacturing in the United States.

The Multiplier Effect
In the most recent data, manufacturers contributed $2.09 trillion to the economy. For every $1.00 spent in manufacturing, another $1.37 is added to the economy, giving the industry the highest multiplier effect of any economic sector.

The Internet of Everything
The Internet of Things (IoT) is changing the manufacturing industry. Factories and plants that are connected to the Internet are more efficient, productive and smarter than their non-connected counterparts. Despite this fact, however, only 10 percent of industrial operations are currently using the connected enterprise model.

Source: ​http://www.cit.com/middle-market/industry-expertise/manufacturing-industry-facts-trends/index.htm


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