Survey: Ohio Manufacturers Optimistic About 2020

Ohio manufacturers are optimistic about their 2020 growth prospects, with more than 70% expecting higher revenue this year. That’s the finding from a new statewide survey of 673 Ohio manufacturers in more than 25 subsectors of the industry. Conducted by Northeast Ohio’s MAGNET and the Ohio Manufacturing Extension Partnership (MEP), the survey also found:

• Retention and development of current employees — along with recruitment of new ones — is the top priority of Ohio manufacturers. In Northeast Ohio alone, there are roughly 8,000 open manufacturing jobs today.
• Nearly 60% of Ohio manufacturers said the skilled worker shortage was the top factor hindering their growth, followed by rising health care costs (30%), retirement of current workers (26%), and the rising cost of raw materials (25%).
• Ohio manufacturers are falling behind on Industry 4.0 adoption, particularly small- and medium-sized firms.

Last week, MAGNET president and CEO Ethan Karp joined a panel of manufacturing executives to discuss the survey results at a City Club of Cleveland forum. Next month, on March 10, FASTLANE — West Central Ohio’s MEP — will host an event to review the survey’s findings. 2/17/2020