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Monthly Archives: January 2017

How I Achieved Maximum Success with Manufacturing

Things To Know About America’s Manufacturing Industry

Of all the kinds of industries we see today, manufacturing is one of the few indispensable ones. The fact is that every single item, product, or thing has to be manufactured first before we can use them. Literally all the things we use and abuse are all because of the industry of manufacturing, including computers, phones, paper, clothes, among others. In turn, this industry is benefitting a lot from technology and constant flow of innovation.

And when the talk is about the biggest manufacturing industry in the world by country, the United States is certainly on top. And what’s actually more interesting is that the way this country manages its manufacturing industry is in a way leaving a lasting effect to all other manufacturing industries in the world.

Anyhow, let’s move on and talk more about some interesting facts about this critical sector of America’s economy.

1 – Did you know that the American manufacturing industry accounts for a little over 12% of the country’s gross domestic product? With this in mind, there is very little doubt that it is a major component of economic prosperity of this nation.

2 – About 10-11% of the American labor force is employed in the manufacturing sector. In other words, about 15 million American workers rely on the different segments of manufacturing to earn their living.

3 – A very interesting thought is that if this sector was to be made a separate economy, it would be the eight largest in the world if the basis is gross domestic product.

4 – The moment a manufacturing job or project is opened, it leads to the creation of new jobs too, in the local service businesses related to or associated with that manufacturing site. There is some kind of domino effect, but in a rather positive way.

5 – Quite surprisingly, an active sector like manufacturing actually leads all other economic sectors in terms of its commitment to the use of renewable energy. What’s even more interesting is that it even uses more renewable energy based on BTUs than the combined use of the residential, commercial, and transportation sectors.

6 – And aside from the commitment in using renewable energy, manufacturing also is a major investor in research and development. The most obvious reason for the investment is because the sector in its entirety wants to be as progressing and constantly evolving as possible.

With all those facts in mind, it wouldn’t be that hard to predict that in the not so distant future, the manufacturing industry is poised to become the country’s most important and indispensable sector, which in many ways, could dictate the fate of the entire nation, at least economically speaking.

Source: http://loftisconsulting.com/blog/2017/01/14/tools-of-the-trade-the-cost-of-starting-in-construction/