#320. “Pennsylvania’s True Commonwealth: State of Manufacturing – Challenges and Opportunities”Posted on
“Pennsylvania’s True Commonwealth: State of Manufacturing – Challenges and Opportunities”
We recently received a great report on a recent research project that looked at the manufacturing industry in the Commonwealth of Pennsylvania. Dr. Edward W. Hill, one of the nation’s foremost thought leaders on manufacturing, led his research team to examine exactly how manufacturing has impacted the Commonwealth, and to develop recommendations on what policymakers can do to foster the industry.
According to the study –
In addition, the researchers found that while large companies showed significant job loss, smaller companies didn’t show much change in employment, showing their flexibility in adapting to changing markets.
And, while manufacturing had a huge impact on the entire state, the effect on the citizens and economies of rural counties was even greater. One in six workers in rural counties work in manufacturing.
Finally, the multiplier effect. For every $1 increase in final demand for manufactured product leads to a total increase in gross value added by all industries of $2.52, the highest multiplier for any industry in the state. An increase in manufacturing will have a significant ripple effect throughout the entire economy.
What a great report! Shouldn’t every state be doing this??
To view the full report, visit here.