According to National Association of Manufacturers (NAM) the American factories rebounded brilliantly after the Great Recession. They now contribute US$2 trillion a year the country’s economy.
Jay Timmons, NAM President announced this news at Economic Club of Minnesota which included 3M Co., founder of NAM, Ecolab, Cargill, Donaldson Co., and Apogee. NAM’s nationwide tour started off at Minneapolis as the state displayed huge amounts of resilience and wealth.
Timmons further added that the industry made a great comeback despite the tough trade policies, stringent government regulations, poor roads, ports, and railways after it had severely slumped in the Great Recession.
Timmons stated that Minnesota hosts some of the big well known manufacturers in the world and it is incredible to see them being resilient and robust than ever. They add US$37 billion to the state’s economy. The NAM event included about 340 Minnesota executives, bankers, economists, lawyers, and members from Chambers of Commerce.
Minnesota manufacturers are back at hiring staffs after cutting back big time. Statistics show that the state currently provides one in every seven which tantamount to the biggest total payroll in any sector in the region.
Timmons truly appreciated 3M’s global reach, stating that the company has 88,000 workers in 70 countries across the globe. He also congratulated Apogee for the architectural glass and stated that company is slowly walking on the lines of covering the whole of Vikings stadium with glass. He also toured the Minneapolis factory that has 450 workers making foam-spraying machines and such other equipment.