Minnesota Manufacturing Economic Information

June 2019

As a way for our firm to thoroughly understand the challenges and issues that manufacturers face daily, it is imperative that we understand the current economic manufacturing climate in Minnesota and around the world.

There are resources that we consistently and thoroughly review, which are listed below:

  • The Beige Book published by the Federal Reserve – updated as of June 2019.
    • “District manufacturing activity increased moderately. A survey of Minnesota manufacturers released in May indicated strong expectations for 2019, with a solid majority expecting increased revenue and one-third planning to increase capital expenditures. An index of manufacturing conditions indicated increased activity in April compared with a month earlier in Minnesota and South Dakota, while activity in North Dakota was nearly flat.”
  • Minnesota’s Economic Trends published by the Minnesota Department Employment and Economic Development (DEED) – updated as of March 2019.
    • The industry of manufacturing was tied for fifth in the top industry of employment for high school graduates in Minnesota.
  • Manufacturing in Minnesota published by Enterprise Minnesota
    • “Manufacturing represents the single largest private sector component of Minnesota’s GDP totaling $49.2 Billion or 16% of Minnesota’s total GDP in 2017.”
    • “319,000 Minnesotans work in manufacturing, accounting for 13 percent of private sector jobs in the state.”
    • “Minnesota has over 8,300 manufacturers making a wide range of products. Manufacturing is growing in Minnesota – with employment in this sector rising over 11 percent since 2010.”