The Importance of Manufacturing
I just received notification that the Florida Chamber Foundation’s “2023 Florida Business & Economic Mid-Year Report” was just published and as it relates to manufacturing, there are a few key statistics which jumped out at me. First, manufacturing makes up 5% of Florida’s total GDP. We’ve been stating that number for many years now. Manufacturing job growth has been flat for the past year, and nationally has been ranked between 10 and 12 since January 2018. Manufacturing makes up 5.0% share of all Florida jobs (decreasing), has average annual wages of $70,000 (increasing), and a wage share of 5.1% (decreasing).