Economic Fears Fade for Minnesota Manufacturers

Dépèche transmise le 22 février 2011 par Business Wire

Economic Fears Fade for Minnesota Manufacturers

Economic Fears Fade for Minnesota Manufacturers

MINNEAPOLIS--(BUSINESS WIRE)--The worst of the recession may be over for Minnesota’s manufacturers according to the State of Manufacturing, a major survey research project sponsored by Enterprise Minnesota and partners.

“The value of manufacturing to a healthy economy cannot be stated strongly enough”

Less than one in ten manufacturing executives (9 percent) anticipates a continued recession in 2011, while 40 percent foresee economic expansion. Compared to the first State of Manufacturing survey two years ago, that represents a 47 percent decline in executives predicting recession and a 32 percent jump in those who project growth.

Fifty-one percent of executives expect their firm’s annual gross revenues to increase in 2011, up from 44 percent in 2010, and up from just 23 percent two years ago. Thirty-nine percent expect their firm’s profitability to increase, up from just 17 percent two years ago.

The results of the State of Manufacturing will be revealed at a series with manufacturers, business leaders, and policymakers throughout Minnesota this week. The Twin Cities briefing with more than 450 people will be held at 4:00 p.m. Tuesday February 22 at the Doubletree Hotel Park Place. Pollster Rob Autry from Alexandria, Va.-based Public Opinion Strategies (POS) will provide analysis.

POS conducted phone interviews with 400 manufacturing executives, representing a geographically proportional cross-section of Minnesota, over two weeks in January. The poll has an error rate of +/- 4 percent. The research was complemented by 17 focus groups conducted throughout Minnesota.

Statewide sponsors for the State of Manufacturing include: Baker Tilly Virchow Krause, LLP; the Center for Rural Policy and Development; Granite Equity Partners; Gray Plant Mooty; M&I Bank; and RJF Agencies.

“The value of manufacturing to a healthy economy cannot be stated strongly enough,” said Enterprise Minnesota president & CEO Bob Kill. “We saw manufacturing lead the way in job growth last year, and the optimism for this year should be a positive sign for the year ahead.”

For more information, including full topline results and cross tabulations, visit www.stateofmanufacturing.com

Enterprise Minnesota helps Minnesota manufacturing enterprises grow profitably. Chartered by the Minnesota State Legislature in 1987, Enterprise Minnesota is an affiliate of the Department of Commerce, National Institute of Standards and Technology (NIST) Manufacturing Extension Partnership (MEP).

Business Wire

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