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Examining the State of Manufacturing 2016 Survey
Each year, Minnesota manufacturers are polled on their level of confidence in their business prospects and the overall economic landscape in the U.S. The survey is produced by Enterprise Minnesota, and is sponsored by local companies, organizations, and schools. Von Ruden Manufacturing contributed as a Bronze Sponsor for this year’s survey.
The survey itself brings together results from a few polling methods, including hundreds of telephone interviews, 16 focus groups of manufacturing leaders, and three focus groups with students at local technical colleges, which was a new addition to this year’s survey.
Overall, the results of the survey were encouraging, as 90% of respondents were confident in the financial future of their companies (the highest percentage in the survey’s history). About half believe the economy will remain the same this year, while 32% believe an economic expansion is on the way. And of those who believe we’re heading toward another recession, most believe their companies will be able to handle it.
As for the top concerns among manufacturers, the cost of healthcare coverage weighs heavily, along with fielding new government policies and regulations in the industrial sector. Another challenge is finding fresh talent – with 66% of respondents saying it is more difficult to find new workers now than it was a year ago.
There were many insights gleaned from this year’s State of Manufacturing survey, which can be viewed on the Enterprise Minnesota website. Are there any statistics that surprise you this year? Let us know by sharing your thoughts with us on Twitter.
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