The Illinois Manufacturers Association (IMA) has released its 2019 report focusing on the economic impact of the manufacturing sector in Illinois. Earlier this week, IMA CEO Mark Denzler visited Peoria to discuss the findings of this impact report. Denzler touched on the highlights of the study; Manufacturing Matters: Our Impact in Illinois.
Here are a few of the highlights:
- Manufacturing Multiplier: for every $1 spent in manufacturing $1.89 is added to the economy
- Manufacturing provides 592,200 jobs in Illinois and $52 billion in wages and benefits
- In Peoria County, manufacturing accounts for 22.7% of GDP. In Tazewell County, it’s 30.9%.
Denzler stayed for the GPMN meeting to talk to members of the Network about some of this impact and about the challenges and opportunities in manufacturing now and in the immediate future. This included discussion on IMA’s work with the Illinois legislature, new legislation such as the Manufacturers’ Purchase Credit, and the IMA’s commitment to continue to work with leadership to strengthen manufacturing in Illinois.
For a deeper dive into the numbers, view the in-depth study An Economic Analysis of the Manufacturing Sector in Illinois.