Wednesday, September 15, 2010

"Made in NY" is a high-value label

Products made in New York generate comparatively high levels of wages and spinoff economic activity, according to a new report prepared by the Rockefeller Institute for the Manufacturing Research Institute of New York State. Even after recent losses, the state ranks sixth in the nation in total manufacturing jobs, according to the report. Including other jobs that depend on manufacturing, the sector supports one in three payroll dollars in much of upstate New York. Yet New York City is the largest single center of manufacturing in the state, with more than 81,000 jobs and $4.2 billion of payroll in 2009.
In economic terms, the wealth created and added to the economy through manufacturing processes represented 52.7 percent of the total value of products shipped from New York in 2008, compared to 41.5 percent nationally. The state’s largest manufacturing sector, computers and electronic products, employs nearly 65,000 New Yorkers, with total payroll of $5.5 billion and average salaries of $84,292. Other major sectors include fabricated metal products, food processing, machinery and chemicals (including pharmaceuticals).
The report, released Monday at a Syracuse event announcing the launch of the Manufacturing Research Institute, is now available on the Rockefeller Institute Web site.

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