— September 20, 2018
Driving more innovation and responsible for more than 3/4 of all private sector research and development, advanced US manufacturing is growing into an essential industry. Though our imports far surpass our exports, American manufacturing supports the economy as well as local communities. For any business, keeping it domestic can be a great option for long-term and reliable quality that not only supports local communities, but the global economy as well.
In 2016, domestic manufacturing alone contributed $ 2.25 trillion into the US economy; for every one dollar spent in manufacturing, $ 1.89 is added to the economy. Among Americans, 80% of consumers say they prefer American made products and 60% of Americans express they are willing to pay on average 10% more for American made products over foreign made. American made products are often associated with higher quality, with the added benefit of supporting domestic manufacturing and helping to create millions of jobs every year. Domestic manufacturing makes up almost 10% of the US workforce. Strengthening the US economy on national and local scales alike, domestic manufacturing gives the US a competitive edge in world trade affairs.
Compared with other leading manufacturing countries, the US leads in not only innovation but in sustainability as well. The labor movement in America has helped to foster fair wages, safe working conditions, and environmental awareness. American manufacturing offers solutions not just for the economy but the environment as well. Between 1992 and 2009, toxic air emissions from manufacturing in the US dropped by one half thanks to innovation and environmental regulations. Domestic manufacturing eliminates the need for costly and environmentally damaging cargo shipping. Global shipping is a high contributor to greenhouse gasses in the atmosphere, and thanks to the growth of domestic manufacturing the impacts have been greatly reduced.
Advanced manufacturing puts the power back into the hands of American businesses, stimulates the economy, and creates good jobs. Take a look at this infographic brought to you by Standard Textile for more on the current state of American manufacturing, what it means to be “Made in America,” and what it means for the future of global trade.
Infographic courtesy of Standard Textile