By Ira Kantor | The Boston Herald | September 13, 2012
Massachusetts’ manufacturing sector no longer suffers from “Rodney Dangerfield syndrome” — it finally has respect, according to a new report issued today.
Investments in new equipment and technology; the development of more specialized products; and increased workforce training efforts have helped the industry undergo an “economic renaissance” in just five years, said the report’s chief author, Barry Bluestone of Northeastern University’s Dukakis Center for Urban and Regional Policy.
“Assuming the economy continues to recover, and somehow Europe doesn’t implode, we’re looking real good,” Bluestone said.
Manufacturing currently has the second largest payroll in Massachusetts, behind health care, with an average salary totaling more than $75,000. Despite labor statistics predicting the current statewide 250,000 employment number dropping to about 239,000 by 2018, there could be as many as 100,000 new sector jobs opening up over the next decade, the report said. A whopping 65 percent of the 700 manufacturers surveyed expect to increase production over the next five years, according to the report. Read More