Contrary to popular belief, U.S. manufacturing is thriving
One of Technology & Manufacturing Association’s Board Members – Nicole Wolter, CEO and President of HM Manufacturing in Wauconda – gives firsthand experience confirming that despite media reporting differently, manufacturing is doing well these days.
In Monday’s Daily Herald, Ms. Wolter writes:
This manufacturing job growth is driven by strong manufacturing performance. The manufacturing Purchasing Managers’ Index, which surveys senior executives about production metrics such as new orders, remains well above 50, signaling manufacturing improvement. And private nonresidential fixed investment, a proxy for manufacturing health, has jumped by about $350 billion over the last two years. Manufacturing output is nearly double what it was during the supposed manufacturing heyday of the 1980s, with production jumping significantly over the last two years.
I can speak firsthand about this manufacturing boom as the president and CEO of HM Manufacturing, a power transmission component producer based outside of Chicago. We have recently purchased three machines valued at over $400,000, hired two new machinists to operate them, and are looking to hire one more. Due to the increased demand for American made manufacturing, we have also generally increased our workforce and its capabilities.
What’s driving this manufacturing boom? Company reinvestment in fields like additive manufacturing (3-D printing), automation and research and development have made the field more competitive and productive.
Read the rest HERE.
TMA News Bulletin February 2018 featured Ms. Wolter HERE.
She tells a portion of her story on TMA’s YouTube video: