October is Manufacturing Month in Minnesota, and we want to raise awareness of the pivotal role manufacturing businesses play in the economic health of our communities.
Contributed/Max Bailey Photography
For instance, most are aware of Lamb Weston-RDO Frozen, but many may not realize that we have over 20 manufacturers in the Heartland Lakes area.
Here’s a look at five major benefits of having these manufacturing businesses in our area.
1. Job creation and economic stability
Manufacturing businesses supply the third most jobs of any industry and the third highest average annual wage (AAW) of any industry in Hubbard County. In fact, it’s the only industry that supplies more than 200 jobs and an AAW over $60,000. These jobs contribute to the overall economic stability of our communities by increasing household income and spending.
2. Local economic stimulus
Manufacturing businesses stimulate local economies in several ways. One of the most influential ways is they often purchase goods and services from local suppliers, such as raw materials, equipment and transportation services. This spending creates a ripple effect, supporting other businesses and jobs in our community.
3. Tax revenue generation
Manufacturing businesses generate significant tax revenue for rural communities. This revenue is used to fund essential services such as schools, roads and public safety. Increased tax revenue from businesses not only keeps taxes lower for residents, but it also helps improve the quality of life and attract new businesses to our area.
4. Community development and support
Manufacturing businesses can be catalysts for community development. Like many other businesses, they provide critical funding and support for non-profit organizations, sports teams and numerous causes that make up the fabric of our communities.
5. Innovation and pride
Manufacturing businesses are a source of pride. From French fries to components of recreational vehicles and airplanes to whiskey barrels and so much more, our area manufacturing businesses develop products we love.
It’s important we all recognize manufacturing businesses are essential to the economic vitality of the Heartland Lakes area communities. We look forward to working with them to create a more prosperous and resilient future.