It is clear that the manufacturing sector is positioned to play a much larger role in the U.S. economy. In fact, recent reports suggest that growth in the manufacturing sector will actually outpace overall U.S. economic growth during the next 18 months.
According to predictions by the Manufacturers Alliance for Productivity and Innovation (MAPI), manufacturing production is expected to increase by 3.2 percent in 2014 and 4 percent in 2015. At the same time, overall U.S. economic growth is only expected to rise by 2.5 percent and 3.2 percent during those respective years.
An article on Industry Week noted that much of this expansion will occur as the result of increased investment in manufacturing businesses, rather than consumer demand—though this too is expected to pick up in the near future. Part of the reason why firms are increasing investment is because they were forced to make due with older equipment during the recession, when the funds simply weren't there for large-scale improvements.
"Energy infrastructure and manufacturing machinery will see increases as firms replace and expand equipment," MAPI Chief Economist Daniel Meckstroth told the news source. "Aerospace will also experience a big ramp-up in production. In addition, there will be growth in the construction supply chain—HVAC, wood, paint, appliances, and furniture—as we anticipate both residential and nonresidential increases. The acceleration driver will be investment."
In order to help businesses afford the investments that they need, states should adopt business-friendly policies. Texas, for example, has low taxes and minimal regulations that make it an excellent atmosphere for CNC machining services.