Manufacturing nationally enjoyed a robust year as growth in many sectors accelerated from the already strong manufacturing recovery of 2010-11. But the impact varies from state to state, depending on several factors, says a report from Ball State University in Indiana.
The 2012 Manufacturing and Logistics Report Card, an in-depth analysis from Ball State's Center for Business and Economic Research (CBER), grades all 50 states, on how they handled those factors.
New Hampshire received the following grades:
- Manufacturing: B+
- Logistics: F
- Human Capital: A
- Worker Benefit Costs: F
- Tax Climate: C
- Expected Liability Gap: C
- Global Reach: C+
- Sector Diversification: D
- Productivity and Innovation: C+
CBER director Michael Hicks says manufacturing roared back in many states in the past year, but he anticipates a slow down as worker productivity gains outstrip demand.
"In the short run, the trend will be exacerbated by the very high probability of a U.S. recession in 2012-13," Hicks says. "The rapidly slowing European, Chinese, Indian and Brazilian economies will place heavy pressure on firms to maintain their exports. A marked decline in U.S. exports is already in progress, and alone will deepen a slowdown already being felt across much of the country. The uncertainty surrounding financial markets will be with us for many months, depressing investment and new hiring. "
CBER prepared the report at the request of Conexus Indiana, the state's advanced manufacturing initiative. It is available at bsu.edu/cber/publications.
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