Editorial
Manufacturing’s Best in ‘The Top 20 Percent’
BY BOB KILL
We recently collected data that analyzed how well America’s manufacturers are prepared to meet challenges of the new marketplace. The results showed that just 20 percent of manufacturers are actively engaged or have achieved a position that will enable them to compete anywhere, with anyone, in almost any economic environment.
Our mission at Enterprise Minnesota is to help all Minnesota manufacturers change their mindset, even in economically challenging times, to become a part of that group of 20 percent. Companies that are “top-20-percenters” won’t be caught flat-footed by worker shortages, they won’t fear overseas competition and they won’t fret about recession. Instead, they will take advantage of long-term opportunities that come with an economic downturn or shift in the marketplace.
In this issue, we’re highlighting a few of Minnesota’s top-20-percenters in our cover feature, “The Best of Manufacturing” (p. 12). These enterprises and geographic areas are rethinking, reinventing and re-energizing—to amazing results.
One of the interesting success stories from our best of list is Hanson Companies. When the demand for its product diminished, it would have been easy for the 92-year-old company to end up like the 28 silo manufacturers that went out of business in Minnesota between 1970 and 2008. Instead, this 20-percenter reinvented itself and is now the only silo manufacturer in the state.
We also look at the Iron Range—the comeback story of the year for Minnesota manufacturers. The Range has gone through challenging times, but by addressing opportunities through new technologies and extracting its natural resources (they weren’t afraid of China!), the Range is again highly competitive.
These and other top-20 percenters realize that the success of Minnesota manufacturers doesn’t stop at a company’s bottom line. Not only do manufacturing employees earn almost 20 percent more per year than other private sector workers in Minnesota, state economists estimate that every new manufacturing job in the state spins off two supporting jobs. In addition, manufacturing accounted for 63 percent of Minnesota’s exported goods last year—that’s $15.2 billion. In short, we all have a stake and will benefit from the success of the manufacturing industry.
At Enterprise Minnesota, we take our responsibility to help grow the state’s manufacturing industry very seriously. Our hope is that the work we do together will result in a state of top-20-percenters.