Celebrating Manufacturing Month in Fremont : A Vital Economic Pillar
19 Oct 2023
Manufacturing Month is an annual event throughout the United States, and in Fremont, Dodge County, it is a particularly significant occasion. This October, Fremont proudly joins the nationwide celebration to highlight the importance of the manufacturing industry. The statistics from 2022 and early data from 2023 vividly show how crucial manufacturing is to our local economy.
The Heart of the Local Economy: Manufacturing in Dodge County
In 2022, the manufacturing sector in Dodge County employed a staggering 4,676 individuals. This number is just shy of 5,000, indicating that it's one of our area's most significant sources of employment. Manufacturing jobs offer stability, competitive wages, and opportunities for career growth, making it an attractive prospect for the local workforce.
What underscores the significance of manufacturing is that it makes up over 23% of all industry employment in Dodge County. This means that nearly a quarter of the local workforce is directly involved in manufacturing. The high employment figures underscore the importance of this sector as a cornerstone of our community's livelihood.
Competitive Wages and Financial Stability
Speaking of wages, manufacturing jobs are not only abundant but also lucrative in Dodge County. In 2022, manufacturing wages in the county constituted just shy of 110% of the total industry wages. This means that manufacturing jobs provide employment opportunities and significantly contribute to the income of the local workforce, offering stability and financial security to families in the area.
Moreover, manufacturing plays a pivotal role in the economic landscape of Dodge County. In 2022, manufacturing generated $700 million in the country's Gross Domestic Product (GDP). This is a substantial contribution, representing almost one-third of our local economy. Such a significant economic impact underscores the manufacturing industry's vital role in sustaining our community's financial health and well-being.
Location Quotient (LQ): Manufacturing's Remarkable Concentration
The numbers don't lie, revealing that manufacturing is not just a peripheral part of our local economy but a central force driving growth, stability, and prosperity. To further emphasize this, we can look at the location quotient (LQ) for the manufacturing industry in Dodge County, which stands at an impressive 2.94 as of early 2023. The LQ is a measurement of concentration in comparison to the national average. An LQ of 1.00 signifies an industry's engagement in line with the national average, while an LQ of 2.00 indicates double the expected employment. In Dodge County's case, the LQ of 2.94 demonstrates that manufacturing is thriving and has a considerably higher concentration than the national average. This fact is a testament to the industry's resilience and significance in our local economy.
Manufacturing Month serves as an opportunity to recognize and celebrate the hard work and innovation within the manufacturing sector in Fremont, Nebraska. It's a chance to highlight the stories of local manufacturers, the advancements in technology and processes, and their critical role in our community's development.
Celebrating Manufacturing Month in Fremont, Nebraska
Throughout this month, various events, seminars, and educational initiatives will provide a platform for local manufacturers to showcase their products and services, offer insights into their operations, and even open their doors to the community. It's a time to foster a deeper understanding and appreciation of the manufacturing sector and its importance.
Manufacturing Month in Fremont is not just a month-long celebration; it's an opportunity to celebrate an industry that is the backbone of our local economy. Statistics reflect the manufacturing sector's integral role in providing jobs, sustaining local incomes, and contributing significantly to our GDP. As we recognize Manufacturing Month, let us acknowledge and appreciate our local manufacturers' dedication, innovation, and vital role in building a prosperous and thriving community. (Source: JobsEQ, http://www.chmuraecon.com/jobsep, https://data.bls.gov/maps/cew/NE?period=2023-Q1&industry=1013&geo_id=31053&chartData=5&distribution=1&pos_color=blue&neg_color=orange&showHideChart=show&ownerType=5)