Advanced Manufacturing Opportunities

In today’s economy, communities that sit back and “wait to see what happens” will lose out to communities that adopt flexibility, develop new skills, and aggressively pursue new opportunities. Communities must be creative and think in new ways to attract investment in their area.

According to the US Department of Commerce, advanced manufacturing accounts for 11% of employment in the country and 14% of the national GDP. The entire US private sector invests $193 billion annually in research and development, and a whopping 60% of that comes from manufacturing firms.

Opportunities for advanced manufacturing are many and encompass a wide range of industries, including the fast-growing renewable energy and energy efficiency industry. In fact, many manufacturing companies in more traditional markets are retooling to become competitive in newer markets.

For example, more than 30 Michigan manufacturing companies have adapted their operations to service the wind energy industry. Companies that once supplied the auto industry are now producing turbine components for the booming wind industry.

One of them, Three M Tool & Machine Inc., recently secured a five-year $7 million contract with Clipper Windpower, a company based in California.

Click here to download a full report on the opportunities available in advanced manufacturing.

Click on the links below for examples of Economic Development Agencies Targeting Advanced Manufacturing:

The Greater Antelope Valley Economic Alliance, located in Southern California

Northwest Kentucky Forward, a four-county regional economic development group located in Northwest Kentucky

The Greater Owensboro Economic Development Corporation, located in Western Kentucky

The Annapolis Digby Economic Development Agency, located in Nova Scotia, Canada

The State of Minnesota

Don Flor
Economic Development Marketing (EDM)
(800) 595-7052 (619) 585-7052
PMB 143
591 Telegraph Canyon RD
Chula Vista, CA 91910
flor@econdevmarketing.com
www.econdevmarketing.com