Advanced Industries & Three Key Learnings for Middle Market Companies
The National Center for the Middle Market (NCMM) traveled to Washington, D.C., on Thursday, to attend an event by the Brookings Institution's Metropolitan Policy Program with Governors Bill Haslam (R-Tenn.) and John Hickenlooper (D-Colo.). The governors were joined by Bruce Katz, vice president and director of the program, for a discussion focused on how they are catalyzing innovation in their states' advanced industry sectors, including aerospace and auto manufacturing.
The NCMM took away three key learnings for middle market companies:
- Advanced industries are broad, covering diverse sectors such as hi-tech manufacturing and services like software development.
- Advanced industries are powerful economic drivers, accounting for 11 percent of GDP, 45 percent of U.S. goods exports and 80 percent of private sector R&D.
- Advanced industries accelerate growth across the state by bringing in a new ecosystem of suppliers and customers.
Advanced Manufacturing in the U.S. Middle Market
According to recent research released by the NCMM and the National Association of Manufacturers, nearly half of middle market manufacturers currently leverage advanced manufacturing techniques - and to great advantage. The techniques help improve competitiveness and have a significant benefit on profitability. For more information on advanced industries and its impact on your mid-sized business, click here to download a copy of our advanced manufacturing white paper.
The event builds on two reports released by the Metropolitan program: "Taking Colorado's Space Economy to the Next Level" and "Moving Tennessee's Automotive Sector Up the Value Chain." To learn more about the event or to download the reports, click here.