AdvisorSmith Finds the Top Cities Where U.S. Manufacturing is Thriving in 2021
There are 12.8 million manufacturing jobs in the U.S., manufacturing output was $2.4 trillion, and manufacturing accounted for approximately 11 percent of GDP
To find the top cities, AdvisorSmith examined various data sets in 294 U.S. cities between 2015 to 2019. They analyzed four key economic factors from each city: manufacturing output growth rate, manufacturing output per capita, manufacturing location quotient, and manufacturing employment growth rate.
From their research, AdvisorSmith found that nationwide the manufacturing output per capita was approximately $7,221. In contrast, the manufacturing output growth rate on a compounded annual growth rate basis was 2.9 percent during the study period. Manufacturing employment also grew by a compounded annual growth rate of 0.9 percent during the study period.
The study segmented the cities by metropolitan population, with small (<150,000 people), midsize (population between 150,000 and 500,000), and large (over 500,000 population) cities.
The top small, midsize, and large cities were Columbus, IN; Elkhart, IN; and San Jose, CA.
AdvisorSmith also ranked the top 50 cities for manufacturing, regardless of population size. They discovered geographically, the Midwest accounted for 26 out of the top 50 cities, while the South accounted for 13.
Midwestern cities are primarily focused on automotive, agricultural, and raw material manufacturing, while the South maintained vital oil and gas, chemical, and furniture industries.
To view the complete study, visit https://advisorsmith.com/
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