Written by Denise Rice, President & CEO, Peak Performance
I recently concluded the 2019 TMA Statewide tour making nine stops across the state, highlighting manufacturing strengths in Tennessee as well as manufacturing challenges. It was a great avenue for connecting industry and community leaders for conversations on real opportunities and challenges for manufacturers, which included, Industry 4.0 and advanced manufacturing trends, as well as policies impacting manufacturing operations across the state.
Best States for Manufacturing
Manufacturing is one of the original building blocks for the American Economy, and today, the United States still remains competitive in manufacturing. Where are the best states for manufacturing? This is not just a simple measurement of which state has the most factories or jobs. It takes several factors into account that highlights the greatest chance for achievement and development. A company’s ability to hire and retain a qualified workforce, as well as its ability to receive and ship goods in a cost-effective and timely manner are typically the most influential factors that drive final site selection decisions. However, business environment, regulatory climate, utilities, infrastructure, real estate and economic incentives play an important role in the process as well.
Site Selection Group published its analysis of all US States. Southeastern states tend to rank high in manufacturing with Georgia, South Carolina, and Tennessee as leaders. Tennessee ranks number 4 out of all 50 states. However, the statistical data is almost matching in majority of the highest weighted factors of manufacturing trends. The data shows us that not one location scores the best in each category, meaning optimal location for a project is one that has no critical deficiencies.