Manufacturing in Indiana is now stronger than it has been since the recession hit back in late 2007, according to a survey released Thursday by Indiana University‘s Kelley School of Business.
It finds that Indiana manufacturers have largely shaken off the effects of the, “Great Recession,” and are hiring. The survey also notes an “on-shoring” trend meaning more Indiana companies are bringing jobs back from overseas, and more 70 percent of companies say they are planning to boost investment.
“This year, three of four companies no longer seem to be embracing downsizing,” says Mark Frohlich, associate professor of operations management at the Kelley School of Business. “They‘re just looking at investing for the future, and we‘re also seeing in the data where about 10 percent of the companies here in Indiana are planning on opening a new manufacturing location sometime in the next two years.”
John Littler, President of Littler Diecast Corp, says his business is doing much better than 2009.
“We‘ve been recovering from that ever since that time and in our business we‘ve been reinvesting upgrading equipment with new equipment, upgrading existing equipment,” he says.
Kelley School researchers say throughout the industry there has been an increased emphasis on capital investment and less concern about working capital problems or just trying to survive.