Wednesday, September 15, 2010

America Still Manufacturing

Think America is a "has been?" You have plenty of people with whom to share that opinion. We've been hearing about the death of America's manufacturing sector for decades.

The idea is completely wrong.

True, the U.S is offshoring or giving up low-value-added production. And the remaining sector employs fewer people. But the remaining sector still "contributes 22% of global manufacturing output and ranks third, behind Germany and China, as a manufacturing exporter, with an 8.1% market share."

That is one of the exciting facts coming from "US Manufacturing: Still the One," a report by Turner Investment Partners in Pennsylvania.

Want ore good news? "U.S. manufacturing exports increased by 60% from 2000 to 2008." And the value of manufactured exports are almost 10 times as much as agricultural exports (57% vs. 6%).

But that is still good news for rural entrepreneurs. Manufacturers are hiring fewer people, because technology has made factories so efficient, but we still have a base of potential customers that make stuff.

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