News and Analysis
This Tuesday, Sept. 10, OMA Connections Partner RSM will host a webinar to explore manufacturing 4.0 — also known as the fourth industrial revolution.
Manufacturing 4.0 is building on the current use of computers and automation, enhancing the process with smart and autonomous systems fueled by data and machine learning. RSM notes that many middle market manufacturers are wondering how to focus their investments in order to not be left behind. This webinar will focus on strategies and tools to help you leverage your existing data and plan for your digital future. 9/4/2019
A new report by Citizens Bank finds that Ohio businesses, compared to the U.S. business community as a whole, are more likely to experience growth over the next quarter. The first-ever Citizens Business Conditions Index — which includes manufacturing data — revealed that the overall U.S. business climate remains strong, despite mounting headwinds. The bank’s nationwide index sits at a healthy 61.2, while the Ohio Business Index came in at 63.1, according to Gongwer News Service. A rating above 50 indicates economic expansion and improved business conditions. 8/27/2019
When Congress returns to work next month, one of Capitol Hill’s priorities must be ratification of the United States-Mexico-Canada Agreement (USMCA). That’s the message from OMA President Eric Burkland and Ohio Farm Bureau Federation Executive Vice President Adam Sharp in their joint editorial submitted to dozens of newspapers across the state. “If tariff-free trade in North America is not upheld by the new deal, Ohio’s manufactured NAFTA exports could face more than $3 billion in extra taxes,” the op-ed cautions. 8/26/2019
In a guest editorial published this week in Crain’s Cleveland Business, OMA President Eric Burkland salutes Ohio’s beer brewing industry. He writes that “food and beverage production plays a major role in Ohio’s manufacturing portfolio, providing about 62,000 jobs in the Buckeye State. And a key player within Ohio’s food and beverage industry is beer.”
Ohio’s beer brewing industry dates back to the arrival of German immigrants in the 1800s. Today, the state produces a wide variety of beers — from hundreds of craft brews to traditional favorites such as Miller Lite, Budweiser, Coors, and Samuel Adams. 8/26/2019
Many manufacturers are utilizing social media to promote products, recruit talent, and interact with customers. The Pew Research Center, which started tracking social media adoption in 2005, reports that 72% of the public now uses social media. Pew also found that:
- YouTube and Facebook are the most-widely used online platforms, with 69% of U.S. adults using Facebook — including 79% of those ages 18-29 and 30-49.
- College graduates are the most frequent users of LinkedIn at 51%.
- The 18-29 age group is the most likely to have an account with Instagram (67%) or Snapchat (62%).
Ohio added 4,500 non-agricultural jobs in July, while the unemployment rate held steady at 4%. According to a state report, 3,200 of Ohio’s net new jobs last month were in the manufacturing sector, with 2,800 in durable manufacturing and another 400 in non-durable goods production. Meanwhile, the state’s construction sector experienced a loss of 1,900 jobs, the most of any industry.
As of last month, roughly 707,600 Ohioans were working in manufacturing — about 6,100 more than in July 2018. 8/19/2019
Chaired by Anheuser-Busch’s Region Vice President Scott Corbitt, the OMA’s Government Affairs Committee on Thursday, Aug. 22, held its quarterly meeting at the beer maker’s Columbus brewery. The event provided OMA member companies with updates on numerous issues, including key provisions in Ohio’s state budget, such as tax code improvements and funding for workforce development.
OMA General Counsel Chris Slagle, partner at Bricker & Eckler LLP, briefed members on potential statewide ballot initiatives, as well as tort reform legislation pending in the General Assembly. OMA Energy Counsel Kim Bojko, partner at Carpenter Lipps & Leland, along with OMA Energy Engineer John Seryak of RunnerStone, provided post-enactment analysis of House Bill 6, the nuclear bailout legislation.
The meeting featured guest speaker Supreme Court of Ohio Justice Judi French, as well as a tour of the brewery. The next meeting of OMA’s Government Affairs Committee is set for Nov. 13. 8/22/2019
More than 50 members took part in Thursday’s OMA Government Affairs Committee meeting, hosted by Anheuser-Busch and sponsored by Nationwide.
A new infographic by HowMuch.net visualizes the key players on the world’s economic stage. Last year, despite the expansion of tariffs and retaliatory measures, global GDP grew 6.9% to $85.8 trillion. Nearly half this growth came from the world’s two largest economies: the U.S. at $20.5 trillion (up 5.4% from 2017), and China at $13.6 trillion (up 10%). Combined, the two nations comprise about 40% of the global GDP. However, in the second quarter of this year, China posted its weakest GDP growth since 1992, while its industrial output ground to its slowest pace since 2002. 8/19/2019
The return of college football is almost here. With pigskins on the mind, Sports Illustrated has ranked Ohio Stadium as one of the five greatest stadiums in college football history. Currently the third-largest college stadium in the sport, “The Shoe” offers one of America’s best game day environments, the magazine says. This ranking comes just a week after SI named Ohio State the No. 2 college football program of all time, one spot above Michigan. O-H! I-O! 8/22/2019
Ex-Im operations are being threatened by a deadline of Sept. 30, the date by which Congress must re-authorize the bank’s charter. As the official export credit agency of the United States, Ex-Im has served 200 exporters in Ohio since 2014, with a combined $1 billion in exports. It’s estimated that when Ex-Im activities were recently hobbled due to the lack of a board quorum, U.S. manufacturers lost $119 billion in output, which translated into 80,000 fewer manufacturing jobs in 2016 and 2017 alone. 8/15/2019