August 27, 2014 By Rochelle Moore, McClatchy News Service
Anita Brown-Graham, the director of the Institute for Emerging Issues, told Wilson Rotarians Monday that manufacturing is a changing industry that continues to be a major driving force of North Carolina’s economy.
Traditional manufacturing jobs of the past are not as common today as manufacturing has become more technology driven with highly skilled workers.
“Although we may think that manufacturing is dead, the reality is manufacturing remains North Carolina’s largest industry sector, contributing more to our state GDP than any other sector,” Brown-Graham said. “And perhaps, most importantly, manufacturing offers the biggest rate of return for the economy.”
For every dollar of manufacturing industry output, $1.35 to $1.43 of wealth is created elsewhere in the economy. The second biggest rate of return in the economy is found in financing with 88 cents being created by every dollar of output, she said.