News

Manufacturers Highlight Industry’s Role in Peoria Area Economy

“Manufacturing Matters Illinois” Tour visits Greater Peoria Manufacturing Network

SPRINGFIELD – The Illinois Manufacturers’ Association (IMA) continued its “Manufacturing Matters Illinois” tour on Monday with a stop at the Greater Peoria Manufacturing Network to discuss a new study detailing the integral role manufacturing plays in the Illinois economy.

The analysis found the manufacturing industry in Illinois generates $304.8 billion in output each year, which amounts to 12 percent of the Gross State Product – the single largest contribution by any industry. Statewide, manufacturers directly employ 592,200 women and men. These are good paying, middle-class jobs with an average salary of $88,691, providing a total of $52 billion in wages and benefits across Illinois.

“As the state’s largest economic engine, Illinois manufacturers feed the world, make life-saving products, power our jobs and businesses, build our infrastructure, transport people and products around the globe, and provide for our nation’s defense,” said Mark Denzler, president and CEO of the Illinois Manufacturers’ Association. “Manufacturing makes the world a better place to live every single day and is integral to the story of Illinois and the United States.”

Manufacturing is a key economic driver the Peoria area, as Peoria County is home to the eighth largest concentration of manufacturing jobs in Illinois. Manufacturing directly employs 12,100 people in Peoria County at an average salary of $132,000. Indeed, one manufacturing job helps support 1.4 other jobs in the county economy. All told, manufacturing supports 29,500 jobs in Peoria County. The industry generates a total of $10.4 billion in economic output in Peoria County, representing nearly 23 percent of the county’s Gross Domestic Product.

In Tazewell County, manufacturing supports 20,000 jobs. The industry generates $7.1 billion in economic output, almost 31 percent of Tazewell County’s Gross Domestic Product. The average income per manufacturing worker in the county is more than $122,000.

“Manufacturing is the solution to many of the challenges facing our state if the right policies are put into place,” Denzler added. “Our elected leaders should choose policies that will build upon our best-in-class workforce and create a pipeline of qualified workers for the future. Let’s create a better Illinois that is the best place to invest, the best place to innovate, and the best place from which to export.”

The analysis was conducted by the Center for Manufacturing Research in partnership with INFORUM, Interindustry Forecasting at the University of Maryland. For more information, including a full copy of the report, please visit https://ima-net.org/2019economicanalysis/

About the Illinois Manufacturers’ Association (IMA)

The Illinois Manufacturers’ Association is the only statewide association dedicated exclusively to advocating, promoting and strengthening the manufacturing sector in Illinois.  The IMA is the oldest and largest state manufacturing trade association in the United States, representing nearly 4,000 companies and facilities.

# # #

X