‘B’ in Manufacturing, ‘B+’ in Logistics: Ohio Report Card
MUNCIE, Ind. – A report prepared by Ball State University shows that Ohio earns a B when it comes to manufacturing and a B+ in regards to logistics.
The 2017 Manufacturing and Logistics Report Card, prepared by Ball State’s Center for Business and Economic Research for Conexus Indiana, the state’s advanced manufacturing initiative, grades each state according to sectors of the economy that impact manufacturing and logistics.
Ohio earned a B in manufacturing, a B+ in logistics, a C- in human capital, a C in tax climate, and a C in expected fiscal liability gap. These are unchanged from the previous year.
Ohio improved its grade from D to C- in benefits costs and improved in diversification, from a C+ to B-, the report said. The state’s grades dropped regarding its global position, from a B+ to B, and its grade fell in productivity and innovation from a B to C+.
CBER director Michael Hicks, the George and Frances Ball Distinguished Professor of Economics and Business Research, explains why U.S. manufacturing and logistics industries experienced dramatic growth over the past generation with his report, Manufacturing and Logistics: A Generation of Volatility & Growth.
The study found that U.S. manufacturing production grew 11% since the “dot com” bust of 2000 and 2003 and the ensuing economic turbulence of the 2001 and the Great Recession.
“According to folklore, this has been a terrible generation for manufacturing and those who move goods,” Hicks said. “That isn’t really what the data says. Indeed, 2015 was a record manufacturing production year in inflation-adjusted dollars. While 2016 fell just short with some weakness in the first and second quarter, 2017 looks to be a new record year.”
Copyright 2017 The Business Journal, Youngstown, Ohio.
Published by The Business Journal, Youngstown, Ohio.
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