Manufacturing Top Area Wealth Producer

December 23rd, 2008 at 09:51am Bob Trojan

My earlier post regarding the wealth creation of local area manufacturing…see it here….

http://blogs.e-rockford.com/manufacturing/2008/12/22/built-on-manufacturing-another-view/

was supported by the story written by RRStar staff in today’s news…see it here…

http://www.businessrockford.com/biznews/x1647202600/Workers-see-fatter-paychecks-in-2007

Manufacturing remains the top payroll generator than any other sector in the local economy…$2.4 Billion in 2007…yes, that’s $2.4 Billion.  The next highest is health care just topping $1 Billion.

Don’t forget the multiplier effect, when we spend our money, it creates other’s wages which in turn gets spent on goods and services…until it goes round 5 - 7 times!!

By the way, the data shown in the newspaper edition shows that the manufacturing wages have been growing since 2001!

Entry Filed under: Management, Education & Training, Economy