CONCORD, NH – A report released by the Department of Business and Economic Affairs (BEA) assesses the Granite State’s $8 billion advanced manufacturing sector, which represents over 42,000 jobs and 1,100 businesses.
The report found that recent industry growth has outpaced regional and national trends, the cluster’s share of jobs in the state is 60 percent higher than the national average, and it typically pays higher wages than the national average for the industry.
BEA’s report also outlines a strategy to help sustain and support the industry, including strategic partnerships, targeted marketing, and workforce development that takes advantage of the fact that 13 of the top 20 occupations in the industry require only a high school diploma or the equivalent for entry.
The Advanced Manufacturing Industry Cluster Report and Strategy is the latest in a series of business and industry assessments BEA has completed over the past two years, providing more granular data, insight, and action items relative to the New Hampshire economy and specific growth sectors within it. This report complements other recent reports and strategies, which are focused on the life sciences industry, workforce needs, and business recruitment and expansion. The advanced manufacturing report, as well as other research and reports, are available here.
“New Hampshire has a long history of innovative and modern manufacturing, and this data demonstrates that this industry cluster continues to see growth and remains on the cutting edge,” said BEA Commissioner Taylor Caswell. “The report gives BEA, industry and institutional partners, and business leaders further insight into the opportunities, as well as challenges, facing the industry and defines near and long-term steps that can be taken to help keep the industry pushing forward and punching above its weight”
The Advanced Manufacturing Industry Cluster is diverse, including aerospace and defense; fabricated metal product manufacturing; computer, communication, and electronics manufacturing; machinery manufacturing; electrical equipment, appliance, and component manufacturing; and transportation equipment manufacturing.
This includes a range of businesses in subsectors that produce medical devices, semiconductors, aircraft engine parts, precision optics, and many more. From local machine shops to defense contractors and high-tech devices created in clean rooms, advanced manufacturing touches every corner of the New Hampshire economy, and it necessitates the collaboration of a variety of partners and stakeholders.
“The report reinforces what the life sciences community in New Hampshire has known for a long time, that our manufacturing industry is vibrant and a leader in the region,” said Andrea Hechavarria, President and CEO of NH Life Sciences. “The success of the life sciences industry is directly linked to the strength of our advanced manufacturing sector, and NH Life Sciences will continue to engage and work with leaders across the state to ensure we are doing everything possible to lean in and further develop these two high-growth sectors.”
“Manufacturing drives productivity and innovation and stimulates more economic activity than any other sector as the multiplier effect from turning raw materials or parts into finished goods is unrivaled,” said Michael Skelton, President and CEO of the Business and Industry Association, New Hampshire’s state affiliate of the National Association of Manufacturers. “BIA members are deploying cutting-edge technologies in advanced manufacturing and next-generation operations in the burgeoning bio-fabrication sector. Developing business conditions that support the growth of manufacturing will deliver new opportunities for Granite Staters.”
About the New Hampshire Department of Business and Economic Affairs (BEA)
The Department of Business and Economic Affairs is dedicated to enhancing the economic vitality of the State of New Hampshire while promoting it as a destination for domestic and international visitors. For more information, visit www.nheconomy.com or www.choosenh.com.
