10 Interesting Manufacturing Facts

Please follow and like us:
RSS
Follow by Email
Facebook
Facebook
Google+
Google+
https://mfgtalkradio.com/10-interesting-manufacturing-facts-2/
LinkedIn

The public continues to underestimate the importance of the manufacturing industry. Manufacturing does so much for the economy and helps drive innovation forward. The industry has come so far from where it started. No more are manufacturing facilities dark, dirty and dangerous places to work. There is a new focus on innovative technology and advancing processes that have dramatically improved the way businesses manufacture their products and components. Here are some quick facts about manufacturing that help show how important this industry is for the overall health of the economy. As more manufacturers invest into R&D, more innovations continue to arise from the industry while continuing to benefit not only manufacturers but all the companies and entities throughout the value-chain.

  1. If the U.S. manufacturing industry was its own economy it would be the 8th largest economic power in the world. (6)
  2. Manufacturing accounts for 32& of U.S. employment. Additionally, every manufacturing job supports another 3.6 jobs outside the industry. (5)
  3. An American manufacturing worker has 10 to 12 times the output of their Chinese counterpart. (2)
  4. The manufacturing industry is driving innovation. Manufacturers in the U.S. contribute more than three-quarters of all private-sector R&D in the nation. (1)
  5. For every $1.00 spent in the manufacturing sector another $3.60 is added else ware across the economy, according to the most recent data. (7)
  6. Manufacturing is pushing for an increase in STEM education careers to create a more competitive workforce. (3)
  7. Manufacturing is a leading cause for the rebound from the “great recession” accounting for 29% of total economic growth in America since 2009. (3)
  8. Manufacturing companies in the United States are responsible for nearly half of all U.S. exports while foreign-headquartered companies now invest nearly $750 billion in U.S. manufacturing and employ more than 1.6 million people. (4)
  9. The U.S. industrial sector remains the leader in greenhouse gas emission reductions relative to other sectors, with an overall 13 percent decline since 1990. (3)
  10. Manufacturing is leading the way in making use of renewable energy – at a usage of 2,269 trillion BTUs of renewable energy in 2012, they made better use of it than the transportation, residential, and commercial sectors combined. (3)

Content Sourced From:

(1) http://www.nam.org/Newsroom/Facts-About-Manufacturing/

(2) http://www.marlinwire.com/blog/amazing-u.s.-manufacturing-facts-for-2015

(3) http://www.pucelenterprises.com/blog/10-little-known-facts-u-s-manufacturing/

(4) PDF Doc – bit.ly/1Jsif5h

(5) http://www.assemblymag.com/articles/93343-manufacturing-matters-most

(6) http://www.themanufacturinginstitute.org/Research/Facts-About-Manufacturing/Economy-and-Jobs/8th-Largest-Economy/8th-Largest-Economy.aspx

(7) https://www.mapi.net/blog/2016/02/manufacturings-economic-impact-so-much-bigger-we-think