Taking the Show on the Road

For the next several weeks we’ll be touring Minnesota to present the data from this year’s State of Manufacturing® survey. We hope you can join us at one of these events, which bring manufacturers together to discuss the survey results and connect with each other and those who support manufacturing in their areas.

Bob Kill, our president and CEO, will present the data followed by a question-and-answer session with event attendees. His engaging style will again generate a lively and enlightening conversation about the current state of manufacturing and its future potential. Attendees include manufacturers, educators, legislators, economic developers, manufacturing trade groups, and members of the media, adding several layers of manufacturing experience to the conversation and boosting the potential for networking for everyone who attends.

The regional events also give us a chance to share survey responses unique to the area where they are held. Each year our pollster “oversamples” his interviews in each of the six Minnesota Initiative Foundation regions to show how they compare with statewide responses.

You’ll want to see these results. Since launching the survey in 2009 manufacturers have impressed us with their resilience in the face of challenges. From the Great Recession through COVID, they have expressed persistent optimism. Even amid daunting economic challenges they’ve talked about making the most of downtime by boosting training, improving operations, or strengthening customer ties.

This year’s annual survey results appear to show a chink in that armor. Worries about inflation and the business climate in this year’s survey translated into a level of concern about growth and profitability not seen since the Great Recession. A year ago, the percentage of participants who expected to see a decrease in gross revenues was 25%; today it’s 40%. A plurality, 41%, also tell us they expect to see a decrease in their profitability this year.

Our pollster, who has conducted every survey since its inception, also identified a growing confidence gap among manufacturers with fewer than 50 employees and less than $5 million in revenue.

These concerns make this year’s events across Greater Minnesota even more valuable for manufacturers as they consider next steps in this challenging climate. We hope to see you at one of them.

We kicked off this season’s regional events last week in Roseau and Granite Falls and have five more regional events on the calendar:

Owatonna
St. Cloud
Fergus Falls
Duluth
Grand Rapids

Each event will feature:
• A briefing of the State of Manufacturing® survey results
• Q&A with Bob Kill and industry stakeholders on what the results mean for the region
• Networking opportunities and refreshments

Registration
These events are open to all manufacturers and supporters of manufacturing and are free of charge. Please register here.

If you have questions about this event, please email us at [email protected].

Industry News

Recession fears show in survey of Minnesota manufacturers
November 23, West Central Tribune

Conagra will pay $142K in restitution to seasonal workers at Waseca frozen vegetable plant
November 21, Star Tribune

Tubman Center raising $4.5M for commercial kitchen in Maplewood
November 21, MSP Business Journal

Superior Industries opens new crusher manufacturing facility at its headquarters in Morris, MN
November 20, Demolition and Recycling International

More food companies are getting snatched up, and they all have something in common
November 18, Star Tribune