Manufacturing is on the rise in the Southwest U.S.! Organizations across the globe are choosing Arizona, New Mexico, Texas, Oklahoma and Nevada over the once leading Midwest states to host a wide variety of facilities producing everything from electric vehicles to medical devices, airplanes and more. Our President and CEO Jeff Benck recently had the opportunity to sit down with Austen Hufford of the Wall Street Journal to discuss this very topic.
As a proud member of the Southwest manufacturing community, Jeff gave his thoughts on why Arizona has become a compelling region for Benchmark’s advanced facilities and services. Topics included in article include the low cost of living, our region’s highly capable talent and more.
To read the full Wall Street Journal article, please visit the link here (subscription required). We’ve also included a brief preview of the article below:
The Southwest Is America’s New Factory Hub. ‘Cranes Everywhere.’
Five states in the region accounted for 30% of U.S. job growth in manufacturing over three years, adding more than 100,000 jobs
By Ben Foldy and Austen Hufford
Companies producing everything from steel to electric cars are planning and building new plants in Southwest states, far from historical hubs of American industry in the Midwest and Southeast. The lure is open land, local tax breaks and a growing supply of tech-savvy workers.
The Southwest, comprising Arizona, New Mexico, Texas and Oklahoma, increased its manufacturing output more than any other region in the U.S. in the four years through 2020, according to an analysis by The Wall Street Journal of data from the Bureau of Economic Analysis.
Those states plus Nevada added more than 100,000 manufacturing jobs from January 2017 to January 2020, representing 30% of U.S. job growth in that sector and at roughly triple the national growth rate, according to data from the Bureau of Labor Statistics.
Executives say the region’s growing population makes for plenty of available labor, and its lower cost of living is a draw for new talent.
“I was surprised how straightforward a choice it was,” said Peter Rawlinson, chief executive for Lucid Motors Inc., an electric-vehicle startup that plans to open a $700 million vehicle factory this year in Arizona, where state officials rolled out the red carpet. “There was only one logical conclusion.”…Read More