After a devastating recession that caused economic woes nationwide, the nation as a whole is reporting an improving economy with an increase in jobs and a decrease in the numbers of those unemployed. The worst recession the nation has faced since the Great Depression resulted in the loss of hundreds of thousands of jobs, many of them in manufacturing.
One state making a significant rebound is Ohio. Those in the manufacturing industry are looking for locations that provide a less expensive, yet adequate supply of natural gas, access to state-of-the-art technology, access to suppliers, and ability to transport the goods by various means. The end result has been a significant rebound for manufacturing in Ohio.
According to reports, about 17 percent of Ohio’s economy is the result of manufacturing, which is higher than the U.S. average of 12.5 percent. Manufacturing jobs also have the tendency to provide higher pay, which also fuels the economy. While the number of manufacturing jobs had dropped, that number is once again climbing. With a million manufacturing positions in the state in 2000, the state had 668,600 positions in January of this year.
Ohio offers fast and easy access to all of the needs the manufacturing industry may have in today’s fast paced and competitive industry. Many manufacturing companies expand and some are relocating to the area. In four years, the state has seen an addition of 54,000 manufacturing jobs.
During the last four years, 600,000 manufacturing jobs have been added in the U.S. In August, a Boston Consulting Group study said that competitiveness of the U.S. has improved significantly, enabling the country to have the potential to add as many as 2.5 million to 5 million factory and related jobs by 2020.