Florida's growing manufacturing sector helps drive U.S. rebound
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Florida's manufacturing sector is alive and well, with employment up almost 10% since 2019.
Why it matters: Manufacturing employment has rebounded nationwide — driven in part by Florida, which added over 36,000 new jobs, according to data from the Economic Innovation Group, a centrist think tank.
Zoom in: Florida's annual average employment in the sector swelled from 383,956 in 2019 to 420,942 in 2023.
- Pinellas had 34,500 manufacturing jobs in 2023, while Hillsborough had around 29,000.
Between the lines: The state's growth is due in part to its large population.
- Manufacturers seek locations near key markets to cut costs, build community ties and create jobs that boost economic growth, per the Florida Chamber.
The big picture: The manufacturing industry's recovery across the U.S. has been uneven and fairly concentrated. Florida is among five states that accounted for two-thirds of the sector's job growth.
- Transportation and food accounted for much of the growth.
- Another bright spot was computer and electronics manufacturing, spurred on by the Biden administration's efforts to bolster domestic chip-making.
Friction point: Manufacturing jobs are still disappearing in the Rust Belt, including in Ohio and battleground states Pennsylvania, Michigan and Wisconsin.
- That group saw jobs in the sector decline 1.7% from 2019 to 2023.
Yes, but: Though manufacturing grabs a lot of attention politically, it's not a big piece of the overall job market anymore.
- In 1970, manufacturing jobs made up 31% of private employment. In 2023, that share was down to 9.7%, notes EIG.