Manufacturing’s Health Affects All Americans
Manufacturing is the engine that drives American prosperity. It is central to our economic security and national security. Manufacturing:
- grows the economy. Every $1.00 in manufactured goods generates an additional $1.50 worth of additional economic activity – more than any other economic sector.
- invents the future. Manufacturers are responsible for almost three-fourths of all private sector R&D, which ultimately benefits other manufacturing and nonmanufacturing activities.
- competes internationally. The United States is the world's largest exporter; 62 percent of all U.S. exports are manufactured goods, double the level of 10 years ago.
- generates productivity increases. Over the past two decades manufacturing productivity gains have been double that of other economic sectors. These gains enable Americans to do more with less, increase our ability to compete and facilitate higher wages for all employees.
- provides more rewarding employment. Manufacturing compensation averages more than $63,000, the highest in the private sector, and manufacturers are leaders in employee training.
- pays the taxes. Manufacturing has been an important contributor to economic growth and tax receipts at all levels of government, contributing one-third of all corporate taxes collected by state and local governments.