News and Analysis
A new study of U.S. patent data shows that Ohio is a top state for innovation. According to an analysis by Commercial Cafe — a commercial real estate blog — the Buckeye State is No. 8 for the total number of filed and granted patents since 1975, with 127,347 total patents. The study includes an interactive bar chart that shows the “most innovative U.S. corporations” based on number of patents granted over 45 years. 12/2/2020
For the second consecutive year, OMA board member Lissa Barry, president and CEO of Delta Systems Inc., has been recognized as one of Northeast Ohio’s top executives by Smart Business magazine and its Smart 50 Awards program. The publication notes that under Barry’s guidance, “Delta is entering a phase of evolution and growth that is poised to drive the company into the future by way of skillful talent development, new product, and service offerings.” 11/30/2020
The Institute for Supply Management (ISM) reported this week that U.S. manufacturing activity continued to expand solidly in November, marking the seventh consecutive month of growth. But ISM’s manufacturing index slipped to 57.5%, after reaching a 21-month high of 59.3% in October. MarketWatch.com wrote: “Manufacturers have recovered faster than most other businesses and helped spur a U.S. economic rebound, but the surge in COVID-19 cases has increased the strain on them as well.”
Meanwhile, Chad Moutray, chief economist with the National Association of Manufacturers, reported that private manufacturing construction spending fell 0.8% from $70.01 billion in September to $69.44 billion in October, dropping for the fourth straight month to the slowest pace since November 2017. 12/1/2020
OMA Connections Partner RSM has published this insight to examine federal policy implications and key issues for manufacturers following the 2020 elections. Key takeaways include:
- A Biden presidency is expected to be positive for infrastructure-based sectors, particularly power, electric equipment and HVAC systems.
- The incoming administration will “introduce the potential for a shift in U.S. trade relations with China.”
- Expect China tariffs “to continue for the near term.”
RSM says that manufacturers should use this time to evaluate the viability of their supply chains. 12/1/2020
With a new administration taking charge on Jan. 20, more uncertainty is in store for the manufacturing community. At 2 p.m. Tuesday, Dec. 8, OMA Connections Partner Plante Moran will host a free webinar to identify, analyze, and address risks arising from the current political, social, and business landscape.
The event will discuss methodologies for incorporating the enterprise risk management (ERM) process to support business strategy and performance. Click here to learn more and register. 12/3/2020
Manufacturing leaders are incorporating smart devices and embedded intelligence into their operations, while developing Industry 4.0-enabled products — and earning huge performance improvements by doing so. That’s just one takeaway from this on-demand Manufacturing and Distribution Update from OMA Connections Partner GBQ. 12/2/2020
Ohio’s unemployment rate dropped to a pandemic low last month as the state reported a record monthly expansion in household employment. The unemployment rate was 5.6% in October, an improvement from 8.3% in September and 17.3% in April, according to state data.
National Association of Manufacturers’ chief economist Chad Moutray pointed out that Ohio created the most net new manufacturing jobs last month, adding 8,100 workers. 11/24/2020
In a year that has been unlike any other, we can expect our holidays to be unique as well. Due to COVID-19, health experts are warning against travel and traditional Thanksgiving gatherings with family and friends who are not part of your household.
The Ohio Department of Health has published this guide to help safely celebrate the holiday season. The CDC has issued this guidance for Thanksgiving. You’re encouraged to share both with your employees. 11/24/2020
Data from the U.S. Bureau of Labor Statistics show an astonishing collapse in long-term productivity growth in the U.S. manufacturing sector, starting with the financial crisis of 2008-2009. Even before COVID-19, output per hour in manufacturing grew at only a 0.5% annual rate during the decade from 2009 to 2019.
Do these numbers paint an accurate picture of the state of American manufacturing? The Progressive Policy Institute, a Democratic think tank, has produced this analysis published by Indiana University. 11/23/2020
Last week, Ohio House Republicans selected their leadership team for the upcoming 134th General Assembly. This week, it was the Democrats’ turn.
House Minority Leader Emilia Sykes (D-Akron) was re-elected to her position, as were Assistant Minority Leader Kristin Boggs (D-Columbus), Minority Whip Paula Hicks-Hudson (D-Toledo) and Assistant Minority Whip Richard Brown (D-Canal Winchester). Joining the leadership team as caucus chair is Rep. Phil Robinson (D-Solon).
After gaining a net three seats earlier this month, House Republicans will hold a 64-35 seat advantage when the new session begins Jan. 4. 11/24/2020