All-Time High: Manufacturing Adds $2.25 Trillion to Economy

Timmons: “Huge Milestone” for Manufacturing Workers

Washington, D.C. – National Association of Manufacturers (NAM) President and CEO Jay Timmons released the following statement on the news that manufacturing now contributes $2.25 trillion to the U.S. economy:

“This is a huge milestone: The men and women who make things in America now contribute a whopping $2.25 trillion to the U.S. economy—a new high. It’s good news for all Americans—and something worth celebrating. It’s further evidence that manufacturing in America is growing stronger by the day—in no small part because we have leaders in Washington who are making American manufacturing workers a top priority.

“We have a White House and a Congress who have freed manufacturers from some of the most overreaching and onerous regulations, allowing us to grow, invest and create jobs. And the best news is that many regulatory reforms and the Trump tax cuts are just taking effect, so we look forward to even stronger numbers moving forward. In fact, in our latest Manufacturers’ Outlook Survey, 63 percent said business tax reform would encourage their companies to spend more on their facilities and equipment, and 58 percent said they would expand their businesses. In addition, 54 percent said they would hire more workers, and almost half planned to increase wages and benefits. 

“To supercharge manufacturing in America even more, the next big step is infrastructure investment, and we look forward to working with Congress and the Trump administration to produce a large and impactful plan. And, of course, much of this growth was a result of our existing trade relationships, which currently support more than 6 million manufacturing jobs in our country. So, as our negotiators seek to update NAFTA and deal with market distortions in China and elsewhere, we need to do so in a manner that will promote certainty, strengthen enforcement tools and not add new costs or burdens to manufacturers in the United States.”

-NAM-


The National Association of Manufacturers (NAM) is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs more than 12 million men and women, contributes $2.17 trillion to the U.S. economy annually, has the largest economic impact of any major sector and accounts for more than three-quarters of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the Manufacturers or to follow us on Shopfloor, Twitter and Facebook, please visit www.nam.org.

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