Study: Manufacturing major economic factor for Indiana
Businesses that are making the preparations necessary for them to build manufacturing plants are well-served by performing the necessary research regarding supplies, cost and location. Obtaining software for manufacturing can go hand-in-hand with knowledge about what makes your development plan the best, and Indiana is full of advantages for your strategy to consider. So says recent information from 24/7 Wall Street, which recently classified Indiana as having the highest level of local manufacturing.
Using the most current information at its disposal, the site ranked the top states in the country based on how important manufacturing is to them, as well as other contributing economic factors. Although it had a higher unemployment rate than some of the other subjects, Indiana placed highest in the two other contributing categories, and reported a total "manufacturing output" in excess of $84 billion last year.
In addition to that, manufacturing was said to take up more than 28 percent of the state's total economy, especially in regards to the automotive industry. The authors of this report mentioned that it has vaulted since 2010.
"Some of this growth came from companies like Honda expanding their factories and adding thousands of jobs, which made headlines in 2011," they wrote. "Developments like these are critical for the economy of the state, which depends on manufacturing more than anywhere else in the nation."
To successfully take advantage of conditions favorable to your industry, your company can both arm itself with the right inventory management system to fit your needs and find a local economy that will be favorable.