Optimism Prime
Six months ago, our third-annual State of Manufacturing™ poll revealed a collective sense of cautious optimism. More than half of manufacturing executives expected to see an increase in gross revenues for their companies, and only 9 percent anticipated that 2011 would lead them into an economic recession. There seemed to be a widespread feeling among manufacturers that the industry stood at storm’s end. They had taken advantage of the downturn to train workers, streamline processes and invest in equipment, and they were prepared to capitalize on their growth and success in the better times ahead.
Today, that optimistic attitude remains a recurring theme among top Minnesota manufacturers of all sizes. By working to build a better company through innovation, marketing and lean manufacturing, they are now poised and ready for the opportunities that come with today’s rebounding economy. This issue of the magazine serves as evidence. In it, you will find the stories of accomplished women who have led their companies to sterling reputations and international recognition (p. 12), including one who saved a failing company, and two whose advice and insights have been sought by the president of the United States.
You will read about how Lou-Rich Inc., a contract manufacturer, is developing a unique strategy to take advantage of exporting opportunities (p. 22). Instead of manufacturing their own product and selling it overseas, Lou-Rich Inc. looks for foreign companies that have an existing product market in the U.S., then works with them to manufacture and deliver their products in the U.S. To ensure Lou-Rich is working smarter and not harder on this endeavor, each prospective foreign company must meet a variety of criteria, including having a growth potential of at least $3 million in sales in five years.
You’ll also see manufacturers’ “Now Hiring” signs making a comeback across the state (p. 18), and learn how the state is connecting public leaders and private sector employers to maximize job creation in Minnesota (p. 11).
All of these stories share a sense of prevailing optimism and innovation. And all of them serve as a reflection of The State of Manufacturing’s™ role as an accurate gauge of the industry’s mood. Optimism is an important key to their success, as they continue through both good and challenging times to search for ways to drive their companies forward. Their attitude leads the way, and their success follows.
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