MAGNET and Team NEO collaboration offers projections through 2025
By Terry Troy
The Manufacturing Advocacy and Growth Network and Team NEO have created a report on Northeast Ohio’s manufacturing sector which includes the current state of manufacturing as well as projections through 2025. The report also includes an outline of steps being taken in the region to expand manufacturing 4.0, which could transform the region back into a global leader in advanced and smart manufacturing.
The $46 billion industry with 248,000+ workers and 7,700 facilities, is an important economic driver for the Northeast Ohio Region’s economy.
“Manufacturing is the backbone of our region, impacting the prosperity of our communities,” said Ethan Karp, president and CEO of MAGNET. “The release of Make It Better: A Blueprint for Manufacturing in Northeast Ohio earlier this summer provides a vision for how the sector will succeed in becoming a global leader in smart manufacturing in the next decade.”
The report indicated that the largest occupation needs this year include traditional manufacturing roles and technology talent needs. Of the top 10 occupations identified, those in fabricated metal products top the list. Computer and electronics and food manufacturing also made the top 10.
The GDP of $46 billion in the region is spread across diverse subsectors. Among the top sectors in terms of output are chemicals and fabricated metals. Once again, computer and electronics and food manufacturing made the top 10.
While Northeast Ohio’s post-pandemic change in manufacturing employment (2018-2025) will see some recovery, it is projected to remain 10% lower than pre-pandemic levels. On the other hand, GDP is projected to grow 8% by 2025.
General regional manufacturing employment projections through 2025 show a slight decline due to automation and technology advancement, however, beverage sector employment is expected to experience significant growth, at 12.3%.
Subsector GDP Projections also show several growth areas for the Northeast Ohio Region by 2025. Traditional sectors such as primary metals and chemicals are projected to grow in output. The nontraditional computer & electronics sector is projected to grow 33%.
The overall decline in employment can partially be attributed to the inability of manufacturers to fill open positions. Further, GDP can gain significant increases with implementation of innovative technologies such as the Industrial Internet of Things (IIoT) and additive manufacturing. The Manufacturing Blueprint released by MAGNET seeks to engage manufacturers around four key pillars for growth – talent, transformation, innovation, and leadership – to address these challenges and ensure the industry’s success. The Smart Manufacturing Cluster (www.smartmanufacturingcluster.org) facilitated by Team NEO is the platform to engage small- to mid-size manufacturers for each of the Manufacturing Blueprint’s four pillars.
“Since 2018, Team NEO’s Smart Manufacturing Cluster has convened manufacturers, solution providers, academia and others to accelerate the growth and competitiveness of our manufacturing community through smart manufacturing technologies and processes,” said Jay Foran, Team NEO senior vice president, industry and innovation. “We look forward to enhancing our efforts by fully leveraging the Manufacturing Blueprint in all our cluster efforts.”
