Study: Indiana manufacturing projected for 5-10% growth
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Indiana’s priority advanced manufacturing sector is expected to grow by 5-10%, according to a new workforce study from Conexus Indiana and Lightcast. The study also shows subsectors dealing with transportation equipment, chemical, and computer and electronic products could add 13,000 jobs by 2026.
The report sought to analyze job growth data in manufacturing and logistics, focusing on priority industries laid out in the Indiana Economic Development Corp.’s 5E vision. That plan seeks to bolster microelectronics, life sciences, advanced mobility and clean energy.
“Strengthening our advanced manufacturing and logistics industries has always been at the forefront of our work as a statewide organization, and for good reason: Manufacturing alone employed 533,877 Hoosiers and contributed $104 billion in Gross Regional Product (GRP) in 2022, making Indiana the most manufacturing intensive state in the nation,” Ryan Henderson, director of Innovation and Digital Transformation of Conexus Indiana, said in a news release. “When we reviewed the data, we saw trends in several industry sectors that could contribute significantly to the overall expected growth in Indiana’s advanced manufacturing and logistics industries.”
The report shows the state’s employment concentration, industry skill demand and advertised wages are competitive or better than other Midwestern states as well as being higher than the national average. Indiana’s advanced manufacturing industry averages $89,555 in total compensation and $67,988 for logistics.
Jobs expected to grow by 2026 include semiconductor processing technicians by 32%, biochemists/biophysicists by 22% and biological technicians and chemical engineers by 19%.
Initiatives listed as positioning the state to succeed in these industries are Purdue University’s 2022 launch of its Semiconductor Degrees program, the State of Indiana’s Manufacturing Readiness Grants program and employers upskilling workers for Industry 4.0 technology adoption.
The report also gives a number of recommendations to continue to increase its growth, including drawing in Gen Z talent and continuing to be a leader in transportation equipment manufacturing.
“These advanced manufacturing and logistics careers will enable the growth of Indiana’s future-focused industries,” said Tony Denhart, vice president of workforce and talent for the IEDC. “Indiana is perfectly positioned to support the economy of the future because of our rich history in manufacturing, our talent pipeline, our workforce training partners and our strong communities. We’re seeing significant and fast growth in industries like semiconductors and electric vehicle batteries because of the bold initiatives our state is undertaking to ensure we are competing to win.”
You can view the full study by clicking here.