The recent celebration of National ManufacturingDay left many Americans feeling positive about the future of American manufacturing. Our domestic production has grown more rapidly than our European or Japanese competitors. The manufacturing jobs we have right now are good-paying jobs, putting, on average, $27 per hour into worker’s pockets (hourly wage is $27 per hour per NPR. Doesn’t all end up in one’s pocket ).
If you’re looking to start or expand a manufacturing company, the time couldn’t be better. A recent NPR story, discussed reasons to be optimistic about manufacturing’s future.
4 Reasons American Manufacturing is Looking Bright
- Cheap Energy. Fracking may be a dirty word, but its widespread adoption has driven natural gas costs down by 2/3rds. This savings provides a real competitive advantage. (Perhaps explaining the rising numbers of companies choosing to reshore their manufacturing?)
- Technological Advances: Wireless technology makes it easier to track every aspect of production, analyze the data, and identify areas to improve production and reduce waste. This efficiency has changed the manufacturing landscape in every industry.
- The Shift to Additive Manufacturing: While we’re used to manufacturing processes that cuts cut, stamp, and press components out of materials, the US is leading the world toward an exciting, waste-free additive model, where 3D printers and similar technology is used to build components up layer by layer.
- Improved Access to Used Manufacturing Machinery: The most cost-effective route to adding capacity and improving quality oversight to your operation has always been bringing production in house. Today, the presence of specialized used machinery brokers, such as Greasy Machines www.greasymachines.com ), streamlines the manufacturing machinery acquisition process by individually connecting eager buyers with motivated sellers. The result? Smart, sustainable growth.