Current News

Current News

100 Billion Reasons Why Manufacturing Matters

Monday, August 01, 2016

According to new data released by the U.S. Department of Commerce, Indiana’s manufacturing sector contributed $100 billion to Indiana’s GDP in 2015, making it solely responsible for more than 29 percent of state GDP.

"Manufacturers are the driving force behind economic growth in Indiana," said Indiana Manufacturers Association (IMA) President Brian Burton. "Successful companies and well-compensated employees are hallmarks of manufacturing to an extent exceeding any other industry. The health of manufacturers is critically important to Indiana’s success. The numbers clearly show it."

This new data shows a more than $6 billion increase over 2014, which means that while the state’s economy grew by $18.6 billion last year, manufacturing accounted for 34 percent of that growth, which is above even the industry’s own share of GDP.

According to the IMA, in December 2015 521,500 Hoosiers were employed in manufacturing and made an average weekly salary of $1,178. Compared to the nation, Indiana has the most manufacturing dependent economy in the country with Oregon (where manufacturing is 23 percent of state GDP) a distant second.

Indiana Manufacturers Association

www.imaweb.com

BillionBorder