Top manufacturing nations
What country has the best environment for manufacturers? The Brookings Institution developed a global scorecard looking at five areas to help determine that answer. After looking at overall policies and regulations; tax policy; energy, transportation and health costs; workforce quality; and infrastructure and innovation, Brookings came up with this ranking:
Out of the top 19 manufacturing nations in the world, Brazil finished with the lowest score — 51 out of 100 points.
Wisconsin was one of just five states to receive the 2018 Golden Shovel Award. The recognition, which comes from Area Development, a site selection and facility planning publication, looks at job creation and economic development in Wisconsin, with 59 companies from the state and around the world agreeing to locate or expand in Wisconsin. Those projects created or retained nearly 30,000 jobs.
That’s how much economic activity is generated annually in the eight Great Lakes states from cargo shipments on the Great Lakes-St. Lawrence River waterway, according to a new study by the Great Lakes Seaway Partnership. The report also found those cargo shipments support 147,500 jobs.
Wisconsin added 15,100 manufacturing jobs from May 2017 to May 2018 — the highest total in the Midwest. Nationwide, the state finished second in the number of new manufacturing jobs created during that timeframe. Wisconsin also ranked 9th in the number of manufacturing jobs created since 2010. More good economic news: Wisconsin’s unemployment rate of 2.8% was tied for 5th among all 50 states, and the state’s labor force participation rate of 68.9% ranked the fifth highest nationally.
Making an impact
Wisconsin’s manufacturing industry contributed $52.19 billion to the state’s gross domestic product during 2017.