Importance of Manufacturing.....

Economic Impacts of Manufacturing:

Missouri historically exhibited itself as a leader in producing durable and non-durable goods in the manufacturing industry. Just take a look at the economic impacts of manufacturing on the state of Missouri:

• In 2004, approximately 7,814 manufacturing establishments were reported in Missouri to employ 318,100 people.
• In 2003, working in the manufacturing industry earned on average $41,388 dollars per year.
• The gross domestic product by the manufacturing industry in 2001 was 185.1 billion dollars and as a percentage of gross domestic product was 17 percent.
• In 2004, chemical exports out of Missouri totaled 1.95 billion dollars which was an increase of 30.31% over 2003 exports.
• The chemical industry's average income per worker was $68,551 per year which is 66% higher than the state's manufacturing average for all industries.
• Within the manufacturing establishments of Missouri, approximately 366 companies are producers of chemicals and allied products while employing over 23,000 people.

(Sources: American Chemistry Council- MO Issues, National Association of Manufacturers-State Data Commerce Dept., Missouri Department of Economic Development- 2004 Exports)

Becon Reports

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