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News/Releases : General Business
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Manufacturers’ Alliance of Maryland Releases State of Industry Report
Description:
MAM report updates manufacturing’s role in MD economy, includes policy recommendations
BALTIMORE, MD (1/XX/09) – Manufacturing in Maryland continues to be a significant source of employment and tax revenue and the state is well positioned to compete globally for high-tech manufacturing jobs if state leaders to take steps to ensure that Maryland maximizes its potential as a leader in manufacturing growth, according to a report released today by the Manufacturers’ Alliance of Maryland (MAM).
Titled ‘Manufacturing in Maryland: The Cornerstone of Shared Prosperity’ and developed by Sage Policy Group, Inc. for MAM, the report shows how manufacturing is a vital part of Maryland’s economy, and how the industry has evolved along with the overall economy, transitioning from low tech product fabrication to knowledge-based jobs that contribute $16 billion annually to the state’s economy.
“During these times of economic challenge, it is critical that we recognize the continuing importance of manufacturing to the Maryland economy,” said Gene Burner, President of MAM. “This report should reinforce with lawmakers the need to adopt policies that encourage smart, sustainable growth in manufacturing, which will support high-wage job growth and improve the economic viability of the state.”
The report does acknowledge that the past few decades in Maryland have challenged the overall job environment in manufacturing, showing declines in low-skill, low-pay jobs in the textile, apparel, and metal manufacturing industries. However, this decline in labor-intensive manufacturing work has been balanced by the sharp increase in average manufacturing wages between 1996 and 2006 to the tune of=2 048.3 percent, and job growth in high-tech manufacturing sectors like computers/electronics, transportation equipment, chemicals, and machinery.
Findings include how the number of workers employed in the sector remains significant, as are the total sales, export values, and tax revenues generated by manufacturing. According to the report, Maryland manufacturing was responsible for $86.5 billion in total statewide business sales in 2007, or roughly 20 percent of state output.
A few other key findings:
- In 2007, the industry employed 131,754 direct jobs and supported a total of 334,000 jobs in Maryland once one accounts for multiplier effects;
- These jobs were associated with $16 billion in annual wage and salary income statewide, or nearly $50,000 per job per year;
- In 2007, Maryland’s merchandise export shipments totaled $8.9 billion, up 81 percent from the 2003 total of $4.9 billion, and is set to climb higher in coming years.
The report also provides policy recommendations, encouraging legislators to work to improve the business environment to make the state more inviting and hospitable to manufacturers. In general terms, these recommendations include providing a competitive and stable business and regulatory environment, adopting a manufacturer friendly energy policy, increasing funding for the Maryland Research & Development Tax Credit, and more aggressively marketing Maryland’s interest in manufacturing to the world.
The full report is viewable on the MAM homepage at www.mdmanufacturing.org.
About Manufacturers’ Alliance of Maryland:
Manufacturers’ Alliance of Maryland (MAM) is a coalition of Maryland manufacturers organized to maintain and improve the manufacturing business climate in Maryland. The group was formed in 2000 to fill the void of a statewide organization representing Maryland manufacturers. The organization focuses its efforts on key legislative and administrative issues such as corporate taxes, energy, exemptions and credits, unemployment insurance, workers’ compensation, sales and use taxes, environmental issues, and tort reform. More information can be found on MAM at www.mdmanufacturing.org.
Jason Policastro
Account Executive
Stanton Communications, Inc.
One North Charles Street, Ste. 2470
Baltimore, MD 21201
jpolicastro@stantoncomm.com
410-727-6855 (office)
410-727-6156 (fax)
717-476-1764 (mobile)
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Date: 1/13/2009 11:27:29 AM
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