Vast majority of Minn. manufacturers expecting upbeat year

The random survey of 269 Minnesota manufacturing operations was carried out in November.

“Manufacturing is the state’s largest business by gross home undertaking, supporting 318,000 Minnesota jobs and contributing $forty eight.2 billion to the state’s financial system,” stated DEED Commissioner Shawntera Hardy. “We should proceed to help the manufacturing business to make sure they’ve the instruments, assets and workforce essential to compete.”

Amongst different findings of the survey:

  • ninety four % anticipate employment ranges to extend or keep the identical.
  • 87 % anticipate income to extend or keep the identical.
  • ninety six % anticipate productiveness to enhance or keep the identical.
  • eighty five % anticipate investments in amenities and gear to extend or keep the identical.
  • ninety five % anticipate costs to extend or keep the identical.

In a particular query this yr, producers have been requested about automation over the past yr. Forty-5 % of respondents indicated that they had elevated automation to reinforce productiveness, 29 % to scale back labor value, mitigate labor shortages and enhance product high quality, and 25 % to enhance work security. Thirty-9 % reported no elevated automation.

The survey additionally discovered that producers have a constructive outlook for the state of Minnesota financial system, with ninety five % anticipating it to develop or keep the identical within the coming yr and ninety four % anticipating statewide employment to extend or keep the identical.

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