Posted by AC&M

Facts about the New York manufacturing industry are impressive. Here is an overview of the facts and their significance.

Output and Exports in NY
In New York, manufacturing outputs totaled $63.1 billion in 2009, as per the US Bureau of Economic Analysis. That is an increase from the previous few years. New York manufacturers accounted for 5.8 percent of the total output in the state that same year, with just over 17,000 manufacturing establishments located in NY at the time.
As for manufacturing’s share of NY exports, it amounts to 80 percent, according to recent statistics. In terms of jobs related to manufacturing exports, that number totaled almost 230,000, as per the Bureau’s 2008 stats.

Employment Details in New York Manufacturing
In NY, the total number of people working in manufacturing is huge. It was an extraordinary 457, 200 in 2010. That means that the manufacturing industry employed 5.3 percent of the New York workforce.
As for the annual wage of an average worker in the industry, it was about $70,450, as per the US Bureau of Economic Analysis statistics from 2009. That annual income was about $15,000 higher than non-farm employers in the state.

Significance of the Manufacturing Facts
The numbers mentioned above illustrate how New York manufacturing contributes to the state economy. It creates valuable jobs, puts money back into local businesses, and helps keep NY going strong as a center of innovation.
New York’s manufacturing industry continues to grow at a steady pace. There is optimism for the business activity in the future. Here at American Casting, we are proud to be a part of NY’s manufacturing legacy by crafting tamper-evident and highly secure seals, locks, and tags.