American Elephants

Manufacturing is Coming Back. Big Time. by The Elephant's Child

This recession has been a particularly bad time for American manufacturing. Foreign competition has been fierce, and this administration has not been friendly to business, or friendly to foreign trade.  They were forced to the wall, says Investors Business Daily, and have gone through “the most dramatic transition since World War II.”

Manufacturing companies have stored  up cash and are investing in new factories, new technologies, job training, acquisitions and going global.  The Census Bureau reports that American exports rose 21% in 2010 putting us back in second place among world exporters.  85% of all goods exported in 2010 were manufactured goods.

Contrary to rumors, the United States is still the world’s largest manufacturing country, in terms of the dollar value of goods.

The top 500 U.S. manufacturing firms had sales in 2010 of $4.5 trillion, greater than Germany’s GDP.  The company ranked at #500 for 2010 was Polymer Group with $883 million in sales. There are probably, says Professor Mark J. Perry, thousands of additional medium and small-sized companies with annual revenue less than %883 million that generate billions of additional dollars in sales for U.S. manufacturers.

They say that “nothing is made here anymore.”  They’re wrong.

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