McKinsey Study: Manufacturing Can Grow by $530 Billion and Create 2 Million Jobs Within Decade

By November 15, 2017General

Far too often, the conventional wisdom assumes that the future of manufacturing is bleak and a “foregone conclusion.”

In fact, nothing could be further from the truth, and a new analytical study from the McKinsey Global Institute lays out exactly how manufacturers and policymakers can position the U.S. economy in the decade ahead to “boost annual manufacturing value added by up to $530 billion” and create nearly 2 million jobs.

From McKinsey:

“The decade ahead will reshape global manufacturing as demand grows, technology unlocks productivity gains and companies find growth in new parts of the value chain—all of which creates an opening for U.S. manufacturing to turn things around…

Given the importance of manufacturing to the broader economy, capturing these opportunities should be a national priority. Rather than attempting to re-create the past or preserve the status quo, the United States will need to focus on positioning its manufacturing sector to compete in the future.”

You can read McKinsey’s summary of its findings here, or download the full, detailed report here.

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