Economist Mike Walden: Advanced Manufacturing Industries

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This is Mary Walden with economist MW, welcoming you to the economic perspective.  Today’s program looks at advanced manufacturing industries.  Mike, manufacturing has changed from what it used to be decades ago.  Today much of manufacturing is going high-tech and also hiring workers with college training.  So do we need to re-think and re-name manufacturing?

  1. Actually has already happened – called advanced manufacturing
  2. Includes manufacturing that has a high level of research and development spending per worker, and that also uses a high % of STEM (science, technology, engineering, math) workers
  3. Is becoming an increasing share of total manufacturing – also more competitive
  4. NC has a major presence in advanced manufacturing, and employs over 3000,000 workers in the industries
  5. Thought to be the future of manufacturing

And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics