Posted on September 25, 2019 at 9:00 AM by Brenda Dryer
Each October the Ames Chamber and Economic Development Commission recognizes the importance of manufacturing to our local, state, and global economy by celebrating Manufacturing Day.
So, what is manufacturing? The manufacturing sector in Iowa is comprised of firms engaged in mechanical, physical or chemical transformation of materials, substances, or components into new products. Firms are often described as plants, factories, or mills and typically use power-driven machines and materials-handling equipment.
Advanced manufacturing is the number one business sector in Iowa, representing more than 17.8% of the state’s GDP, as evidenced by the more than 6,000 manufacturers employing over 213,000 Iowans, or 14% of the state’s total workforce. The Iowa manufacturing sector reported an average annual wage of $58,604 for 2017, which was 27.2 percent greater than the statewide average of $46,073 for all industries. An interesting point to mention is that average manufacturing wages have increased every year since 2008!
According to Future Ready Iowa the following “Advanced Manufacturing” careers are expected to grow at the following rates through 2020.
- Computer Numerically Controlled (CNC) Machining / +23%
- Transportation & Logistics / +19%
- General Machining / +17%
- Industrial Automation / +16%
- Welding / +14%
- Industrial Maintenance / +11%
- Tool & Die / +8%
- Manufacturing Technology / +4&
In Story County manufacturers also continue to grow; paying a significant amount of property tax and user fees, providing outstanding employment opportunities with both high wages and great benefits, and generating exceptional annual earnings, allowing them to be an economic development driver in their communities.
The Story County manufacturing sector employs over 4,688 individuals, with average annual earnings of $62,557, thereby positively contributing to the prosperity throughout the County.
Categories: Growing Business